With iron ore prices going to $50 a tonne for 1 week during GFC1 this would be worse case scenario for FMG.
Current market cap is $9.2 billion and FMG total current debt 8.3 billion and expansion plans pulled ;((( not looking good and looks like margin call for the company might be pressured as banks will be sweating.
If Iron Ore tumbles again overnight then this could possibly fall even further.
I agree with others here our government has strangled the golden goose.
However in saying the above hopefully stockpiles fall and iron ore prices pick back up again as demand maybe slowing.
With iron ore prices going to $50 a tonne for 1 week during GFC1...
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B | |||
| Open | High | Low | Value | Volume |
| $17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $17.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.35 | 28897 | 5 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |