Also, it should be noted that the FMG financials are denominated in USD.
Much of its average C1 costs in this HY would be tracking quite a bit lower given these costs would be incurred in AUD but are reported in USD. You also have significant interest savings of USD 130 pa since the refinancing occurred earlier this year.
As well as diversifying its customer base, it really needs to control more of its supply chain by performing due diligence into either investing in a steel mill in Australia or help fund the expansion of one, which I am sure has been discussed on here previously.
Iron ore price, page-7471
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Last
$17.32 |
Change
-0.840(4.63%) |
Mkt cap ! $53.32B | |||
| Open | High | Low | Value | Volume |
| $18.22 | $18.27 | $17.26 | $202.6M | 11.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4600 | $17.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.33 | 396 | 1 |
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| FMG (ASX) Chart |