FMG posted half year profit of $314 million today FMG has a total debt of 3500000000
Sure a great result' but no div with such a huge debt,in fact I reckon the holders of FMG won't see a div for a long long time.
Now there's a possibility that Andrew Forrest may be kicked off the board as a director and don't get me wrong because I very much admire the guy for what he has done so far, but if that happens then sentiment for the stock may soften and traders might perhaps move some money away albeit short term toward a more popular iron orer....and could that be us ?
Question is, if AGO can start racking up profits similar to what FMG announced today and remember we are not carrying $3500000000 of debt so this may be possible in the not too distant future....well ya see where I'm going with this....I mean FMG is what $6.88 and no div in sight..and AGO is growing very quickly...ok I'm just musing but when you stop and think about it...well what do you think ? I know what I'm thinking. Any way have a good weekend and
cheers to holders
AGO Price at posting:
$3.97 Sentiment: Buy Disclosure: Held