sub two dollars tomorrow, page-53

Not to fazed at all Dull about being on ignore. Yes I post facts and milestones about FMG, passionate / bias is there a difference ? FMG employs many thousands, contracts and spinoffs from their operations employ many more. Australia rides on the back of what we can dig up and ship out and FMG will be doing this for decades to come. There will be many bumps along the way but FMG is currently meeting many targets and milestones aswell.

October 17, 2008

http://steelguru.com/news/index/2008...or_China.html]

FMG to go ahead with deliveries for China

It is reported that Fortescue Metals Group Limited has so far loaded 8.536 million tonnes of iron ore onto 52 ships dispatched from Fortescue's Herb Elliott port facility in Western Australia.

After news last week that China would be asking to delay iron ore shipments, Fortescue said all of its iron ore shipments had been accepted by its customers and the company was loading ore as fast as possible.

Fortescue said "Chinese market's motivation to encourage the emergence of Fortescue as a strong new alternative seaborne supplier of iron ore has gained further momentum in the last quarter. It said it expected to be operating at an annual production rate of 45 million tonnes by the end of the year before jumping up to 55 million tonnes from April 2009.

The company said it had USD 624 million cash in had at the end of the September quarter, an increase of USD 432 million on the previous quarter. It said the increase in cash was due to funds from a preference share issue, sales prepayments and from leasing and sales receipts.

Sounds good to me