Yes, good buying support - but what of the selling - in the old...

Yes, good buying support - but what of the selling - in the old days with a market up as this one has been, and 10M+ shares traded, the stock would have been up one or two dollars. You will pan him, but it is only Red Rock who is understanding this story. Yes, we have been in a significant changing world - but FMG does not seem to get that. October, November 2009 - no change in their plans and they can fund 80M tpa out of cash flow. The proverbial had already hit the fan. 5 months later we are trumpeting that the fact that the recent quarter production is the same as the previous quarter - a quarter also affected by the desanding machine - as a positive, at a time when the company was meant to be heading towards 55M tonnes and then onwards and upwards. We did better than BHP as our production was steady and they were down by 3% - one of the world's most ridiculous posts. FMG are so far off their forecasts - but thank god it is only rain that has caused it. As Churchill said the Spring after the Germans Winter in Russia "There is a Winter you know in Russia. For a good many months the temperature is apt to fall very low. There is snow, there is frost and all that. Hitler forgot about this Russian Winter. He must be very loosely educated. We all heard about it at school" To blame the rain for reduced production in an area where heavy summer rains and cyclonic events should be expected is akin to Hitler forgetting there exists a Russian winter.

Yes, great we have a Chinese steel company on board, so they can't possibly get it wrong - but look how quickly one of the world's great miners, Anglo American, tore up A$350M+ in Anaconda - reasonable to think they knew what they were doing? Still, it is a coup - a pity so much of the money had to go to take out Harbinger - better off in the fmg coffers.

I do not understand how posters just gloss over the inaccuracies in almost everything that emerges from this company. The problems were always going to be in the production - the financial crisis was just a hiccup along the road for FMG.