You haven't backed up any of your claims Christos, please I...

You haven't backed up any of your claims Christos, please I loved to read them. Oh May 08 start up, sorry its not a 100 billion profit per year company yet....geez I give up.

Current targets 45mta to 55mta by DEC / APRIL, Sept09 80mta. Looks good to me, find me another IO play start up even touching those figures. And yes they stated 160mta maybe a bit more further down the track, given the current market climate its a sensible move. I'm tipping FMG IO payments are not going to charity, last time I checked BHP and RIO get paid for their minerals. Sept09 report will tell the full story.

Regardless Heres some real facts for a change:

FORTESCUE Metals Group says it is not renegotiating any iron ore delivery contracts.

The Perth-based miner also added it was shipping every tonne of ore it can produce to its customers in China.

While the miner’s larger customers arrange their own shipping, Fortescue ships ore for its smaller customers and a report today said some Chinese mills were seeking to have the freight rates they are charged reduced.

“Fortescue has not renegotiated any delivery contracts to China, we are selling every tonne of ore we can produce,” a spokesman for Fortescue said.

“We are always talking with our customers, but there is no formal renegotiation of any contracts.”