I am curious about the intention and profitability of FFI.
On their annual report they claim to be investing 10% of NPAT into FFI.
However, when I checked the financial statements roughly $100 M was allocated to FFI expenditure according to page 84 of the 2021 annual report.
This should be at $1,000 M as the NPAT was over $10,000 M and I cannot seem to find any significant items on the cashflow statement to capture this.
The venture will most likely never be as profitable as IO exports and I will wager that the sole intention of the program is to settle the emotional turmoil within the green silver spoon sugar laden activists and incentivize them to direct their unresolved child traumas elsewhere and let FMG be FMG, a fabulous low cost miner.
For all you fanatical FMG men out there I will say please take your seat. As I am not a holder nor have a come to a conclusion on an entry position it does not automatically make me sub human and unworthy of love. I have taken the time to read the 2021 financial report and a few key announcements since, I look to become a holder in the near future. If you feel hot and bothered, turn on your aircon, I know full well the emotions that can run rampant when one is radical about their stock. Sometimes a cold beverage helps also.
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