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Don't hold but very positive looking "candle" today .... Good luck to you guys who hold
ps. I think Twiggy (even with all his multi-millions, is a legend Aussie, so good luck to him also)
FMG - Fortescue Ltd
- Thread starter GreatPig
- Start date
Don't hold but very positive looking "candle" today .... Good luck to you guys who hold
ps. I think Twiggy (even with all his multi-millions, is a legend Aussie, so good luck to him also)
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One thing I found interesting is that the announcement (Quarterly) came out early in the day and there was plenty of time to read / review and buy if happy.
But instead of buying FMG was down -2.9% yesterday
Then obviously a green today +4%.
Maybe people were unsure about the US Markets (that includes me) and they had a good night so maybe that was the trigger?
FMG share price and company information for ASX:FMG
View today’s FMG share price, options, bonds, hybrids and warrants. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer analysis and key company information.www2.asx.com.au
View attachment 113956
I was surprised about that as well. Perhaps, after whatever reservations were expressed with yesterdays sell off, investors looked at the SP, the quarterly figures, the dividends, the cost analysis and thought "Yep this still makes sense".
I wouldn't be surprised if some of the buying comes from inside FMG management and the company itself. After announcing the Quarterly results there is no question of insider trading - and the figures were very good.
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AGM coming up for FMG. Obviously doing exceptionally well on the Iron Ore front. Now Andrew Forrest is focusing on developing vast new renewable energy projects investing some of the billions of dollars of cash generated by the current iron ore export.
The renewable energy projects will firstly reduce to zero all the current costs associated with their venture. After that they are looking at exceptionally large export markets of Green hydrogen, H2 produced ammonia, green fertilisers.
The renewable energy projects will firstly reduce to zero all the current costs associated with their venture. After that they are looking at exceptionally large export markets of Green hydrogen, H2 produced ammonia, green fertilisers.
over9k
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Zero plans to sell my FMG position.
Value Collector
Have courage, and be kind.
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I won’t sell my FMG simply based on the Iron Ore Business alone, if anything comes of this energy business all the better.
over9k
So I didn't tell my wife, but I...
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Just watched a twiggy interview on bloomberg. He near as no difference said he's transitioning a lot of his business into being a renewable energy business. Considering the amount of energy needed to actually produce steel, it makes a lot of sense
I've posted in the MCR thread as well.
I've posted in the MCR thread as well.
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Very nice morning for FMG, on the back of the the iron ore price jump to ~$130 us/t (Vale cut output expectations)
Happy holder today.
Happy holder today.
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Strong finish to the day.
Value Collector
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FMG broke through $20 yesterday and hit an all time high, and it holding on to those gains today down 7 cents as I write this.
Iron ore price is well above where it was when I wrote the above analysis, So FMG is still firing on all cylinders, now as long as we can keep out of any Political trade wars, we should be able to continue printing money.
Very happy to hold at this stage.
over9k
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yep same. the only thing i did was trim a bit and buy some mcr. we'll wait & see how that goes.
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You are pushing the boat out on this one.
We are in a political trade war like it or not, not of our choosing but definitely real.
I have a bad feeling that China will use our one and only trump card to beat us up again.
Brazil iron ore mines will boom and ours will plummet once Brazil gets started again.
Value Collector
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I actually don’t think they can afford to threaten their iron ore supply, they are in the manufacturing business, they need raw materials, they can stop importing luxury goods etc for a while, but not Iron Ore, the price is already through the roof,
Value Collector
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Brazil has just reduced their forecast production for this year and next year.
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It seems the kick off for the repricing of Australian Iron ore shares was the latest down grade of Brazil ore exports.
China does have a potentially huge African mine they want to develop but from all accounts that is a 5-10 year project. I also think that Twiggy is going to diversify into renewable energy in the next few years to have some insurance against China reviewing its need for Australian iron ore.
Anyway lets not look at a very attractive gift horse in the mouth !! If these prices and volumes continue the there will be substaintial re calibration of the next profit/dividend figures
www.mining.com
www.theguardian.com
China does have a potentially huge African mine they want to develop but from all accounts that is a 5-10 year project. I also think that Twiggy is going to diversify into renewable energy in the next few years to have some insurance against China reviewing its need for Australian iron ore.
Anyway lets not look at a very attractive gift horse in the mouth !! If these prices and volumes continue the there will be substaintial re calibration of the next profit/dividend figures
Vale reduces 2020 iron ore output forecast
Company expects to produce 300-305 million tonnes this year, missing a previously lowered 2020 target of at least 310 million tonnes.
www.mining.com
Could China replace Australian iron ore with metal from Africa?
Analysis: Amid rising trade tensions, Chinese interests are keen to develop a high-quality deposit in Guinea. Analysts warn any restrictions on Australian sales to China would ‘send shockwaves through the market’
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Without the political overture for effect, I would be very surprised if China hasnt enough stockpiled iron ore, to squeeze our bollocks really hard.
There is a reason Twiggy is diversifying IMO and it isnt because he feels more exposure to iron ore is a winner ATM.
With our dependence on China buying our resources, to fund our welfare, it doesnt take a genius to work out how fragile that link is.
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Without the political overture for effect, I would be very surprised if China hasnt enough stockpiled iron ore, to squeeze our bollocks really hard.
There is a reason Twiggy is diversifying IMO and it isnt because he feels more exposure to iron ore is a winner ATM.
With our dependence on China buying our resources, to fund our welfare, it doesnt take a genius to work out how fragile that link is.
Unfortunately china is a few moves ahead, its always preplanned with them so logic would dictate they have io covered
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One hopes you are correct.
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Good story on the ABC about the iron ore industry in WA which largely services China. Essentially Australia and China equally dependent on the production/purchase of the ore at the moment. Doesn't mean however we shouldn't be looking for alternative markets.
China is not currently stockpiling ore either.
www.abc.net.au
China is not currently stockpiling ore either.
It was 'built for the benefit of China' — and there's no need to panic about the iron ore industry now
The bust that followed our mining boom will be on more than a few minds as the spat between Beijing and Canberra plays out. But dig a little deeper and it seems there's little to worry about.
www.abc.net.au
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I am not sure that is correct.
Robert Rennie was on the BIP show recently discussing this in extreme detail
Ep 25 - Westpac's Robert Rennie - The benefits of RCEP, and the future of global trade and manufacturing | Theory of Thing Investment Podcast
Westpac Global Head of Financial Market Strategy Robert Rennie joins us to explain the details of the vast RCEP trade deal, and what it means in an age of shifting priorities on global trade
shows.acast.com
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Interesting podcast InvestoBoy, they make reference to the stockpiling at 24 min mark, hopefully they are correct and China keeps pumping out the steel at the record levels.I am not sure that is correct.
Robert Rennie was on the BIP show recently discussing this in extreme detail
Ep 25 - Westpac's Robert Rennie - The benefits of RCEP, and the future of global trade and manufacturing | Theory of Thing Investment Podcast
Westpac Global Head of Financial Market Strategy Robert Rennie joins us to explain the details of the vast RCEP trade deal, and what it means in an age of shifting priorities on global trade
Another article, on the same issue.
