Well according to some brokers FMG's breakeven is US$75. Spot went below that.
If iron ore bounces FMG is the buy of a life time. If it stays sub US$70 then FMG is probably in serious trouble. Restructure, equity raising etc etc.
Generally in a market crash one buys blue chips. Not highly leveraged miners with a single commodity focus. Especially a commodity where it is no where near the bottom cost curve.
Even a few dollars below FMG's all in cost is seriously damaging to the company since it producers so much ore. i.e. 150mt x $5 = $750m hole, plus you need to factor in additional cash flow required for debt repayments (excluding a capital raising/restructure).
FYI I am not short. I missed this opportunity on Tuesday (got called away from my computer when FMG was about $3.15-$3.16).
Goodluck guys, but remember FMG did a massive capital raising to the Chinese when it was sub $2 as well. IMO its best to buy if iron ore goes back to US$80 or at least the AUD plummets.
High risk/high reward.
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FMG
fortescue ltd
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$16.33

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Last
$16.33 |
Change
0.070(0.43%) |
Mkt cap ! $50.27B |
Open | High | Low | Value | Volume |
$16.28 | $16.37 | $16.20 | $91.44M | 5.627M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100 | $16.32 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.33 | 450 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100 | 16.320 |
1 | 400 | 16.310 |
1 | 300 | 16.300 |
1 | 300 | 16.290 |
2 | 6200 | 16.280 |
Price($) | Vol. | No. |
---|---|---|
16.330 | 450 | 1 |
16.340 | 9971 | 12 |
16.350 | 31323 | 11 |
16.360 | 6870 | 7 |
16.370 | 2695 | 5 |
Last trade - 16.13pm 04/07/2025 (20 minute delay) ? |
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