Geezer's price target of $2.25 is actually very conservative. I would have thought sub $1.50 is actually more likely.
Word from insiders at Rio Tino suggest they are expecting Fe price of $80/tonne to occur within 3-4 months. They expect this level to hold (or go lower) over the next 12 months.
At that price, FMG becomes a marginal producer and their operations will be put on care & maintenance quicker than you can say "Twiggy should have sold out at $13".
Scary times ahead for iron ore and the WA economy in general. FMG may well become a horrific symbol of the WA mining boom collapse when we look back on these times in years to come.
I hope Geezer is wrong, and I certainly hope that I am also wrong, but the fact of the matter is we are not wrong, and we will be shown to be correct in the very near future.
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$18.27 |
Change
-0.290(1.56%) |
Mkt cap ! $56.25B |
Open | High | Low | Value | Volume |
$18.70 | $18.72 | $18.21 | $313.4M | 17.09M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 45418 | $18.27 |
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Price($) | Vol. | No. |
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$18.30 | 1200 | 1 |
View Market Depth
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14 | 138057 | 18.260 |
14 | 245292 | 18.250 |
9 | 214504 | 18.240 |
9 | 187705 | 18.230 |
18 | 228899 | 18.220 |
Price($) | Vol. | No. |
---|---|---|
18.300 | 1200 | 1 |
18.310 | 400 | 1 |
18.330 | 132 | 1 |
18.340 | 3281 | 1 |
18.350 | 3000 | 1 |
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