Iron ore price, page-7488

So here we have a company that despite the market price of its product falling has (a) reduced net debt from $13 billion to below $3 billion in 5 years, pIreletnfrom organIc cashflow b) continued to increase production. increase productivity, enhance its processes and efficiencies (c) discover new significant resources within its expansive tenements (d) successfully established and expanded nationally significant mining hubs (e) managed the construction of infrastructure links that any state government would kill to be able to deliver and (f) quietly noted it's looking for more than iron ore over the land It controls which is larger than a medium sized European or African country (ie lithium and gold anyone?) ans then (g) successfully reduced its cost to produce to sub US $13 per tonne.
PE multiple next few years sub 10, EBITDA multiple materially lower. Super strong and sustainable divIdend (now above 10pc pa gross).
Just imagine what the $100 million annual expense on exploitation may turn up on this highly prospective region. Just imagine what this company can do when it's debt gets even lower (on recent trend FMG would be debt free in 2 years).
Ridiculously cheap here. ignore the negative talk on lower grade price - just look at the cashflow generation, the debt reduction, the resource expansion and the strategy to improve grade over time.
it's in very good shape.