Ballsy post by rod178. Very few posters are prepared to print hard figures on public forum as invariably if they are wrong, the poster is ridiculed. I don't study FMG closely enough to make a detailed forecast. But the macro re IO prices is BAD. Supply is scheduled to far exceed demand even if BHP can the Port Hedland extension. I reckon holders of IO companies need to redo their calculations based on an IO price of $100/ton. If firm is still profitable and has a PE of below 10 then it's a 'hold'. Then redo calcs at $85/ton. If firm is still at/above break-even it probably means SP will find a bottom and not implode. To keep assuming China will be a saviour is akin to putting yr savings/eggs into a single fragile basket imo. World economy is in dire straits. Minimise risk even if it means taking a loss. I got smacked hard in late 2008. i try to not forget the lesson.
FMG Price at posting:
$4.55 Sentiment: Sell Disclosure: Not Held
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