spuza if you're there, here is the reply to the email: Fortescue...

spuza if you're there, here is the reply to the email:

Fortescue will be releasing its December 2014 quarterly report next week on 29th January.  This report will provide an update on Fortescue’s production, costs, received price and bank balances.  Given disclosure regulations, we are unable to provide any specific updates in advance of this release but it is fair to say that Fortescue’s development, significantly reduced cost profile and focus on cash management has positioned the company to withstand the volatility which we are seeing in the iron ore price at the moment.

With regard to your email from yesterday, Fortescue has repaid US$3.6 billion from its peak debt level over the last 12 months.  The focus remains on further reducing debt and this will depend on free cash generation which is impacted by the iron ore price, currently trading around 5 year lows.

As a single commodity company Fortescue’s share price is extremely susceptible to movements in the iron ore price and negative sentiment in China.  Fortescue is working extremely hard to continue to strengthen the company’s position by managing the things within its control, its  operational performance, balance sheet and remains confident in China and supporting that continued demand.