FMG is not a mining company it is a resources company. Energy is a resource (for example oil and gas fits in BHP as a diversified resources company). Hydrogen is the world's next great resource.
The most absurd comment of the year. FMG quarries IO and produces zero hydrogen. It has signed some worthless 'contracts' with other companies wanting a bit of free 'feel good' publicity.
This is a long term play. It will take at least 10 years and the risks are high. In the meantime FMG is still subject to the cyclical iron ore market. But the opportunity is huge.
The Grim Reaper is already knocking on FMG's front door. It doesn't have 10 years to transform. FMG's 58% IO is already a marginally profitable product. It could easily be loss making business within months.
FMG Price at posting:
$15.45 Sentiment: None Disclosure: Not Held
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