I'm not sure I subscribe to that hypothesis. FEX released several positive announcements which contributed to the SP rise including, W11 feasibility study, Shine recommissioning, Gold Valley $70m haulage and port contract & IR possible extensions. The annual hype around the annual dividend, the increased media and analyst coverage and strong IO prices also contributed to place FEX on more watchlists.
Surely these announcements and factors contributed in part to the rise. The dividend alone, which has only ever been as big as 5.25c couldn't be the only factor to take the SP from mid 20c to mid 40c.
IMO, the considerable drop was a function of the IO price decline, China slowdown speculation and media and the no dividend annoucement (probably the major component I concede).
The similar drop in FMG's SP is evidence of this IMO.
DYOR
Price of Iron Ore, page-1766
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25.0¢ |
Change
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Mkt cap ! $180.1M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 25.0¢ | 24.5¢ | $37.11K | 148.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 38038 | 24.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 96582 | 1 |
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| FEX (ASX) Chart |