and junk bond debt of US$4.2B still at very high rates and rising very fast due to fast rising interest rates globally.
Junk bonds are dangerous. Way higher than other miners.
CS has them in a lock and they MUST pay the piper that saved them and show no intent of early paydown of this large high rate bond debt.
"Based on the latest financial disclosure, Fortescue Metals Group has a Total Debt of 4.62 B. This is 123.64% higher than that of the Basic Materials sector and significantly higher than that of the Other Industrial Metals & Mining industry. The total debt for all Australia stocks is 13.11% higher than that of the company."
https://w w w . m a c r o a x i s . c om/invest/ratio/FMG.AX/Total-Debt
Why hoard and blow all that cash on wasteful capex that doesnt reduce AISC and high divys.
Pay down the DEBT!
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and junk bond debt of US$4.2B still at very high rates and...
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