Yeah,
Iron ore up a bit again overnight. Looking solid above that "natural floor" of $120. Likely they will increase their target production to 155mtpa. If iron ore stays around these levels, the SP will be impossible to hold at these low levels.
I'm feeling increasingly confident about FMG, it has come through a tough little period and show up some pundits in the media a lightweights.
Once shorters change their target to greener pastures, this could move up strongly. They need to buy back at least 190m shares (in ASX list probably underestimate), farmboy estimates 220m. The only question in my mind is will they come back to play?
iron ore up again, page-27
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Last
$22.62 |
Change
0.700(3.19%) |
Mkt cap ! $69.64B | |||
| Open | High | Low | Value | Volume |
| $22.38 | $22.75 | $22.26 | $131.3M | 5.814M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 120 | $22.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.63 | 6416 | 3 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |