FMG - Fortescue Ltd

[bk1]

Perhaps they think he can now focus more on his job.

Or on someone else?

 

[mullokintyre]

Nice tax deduction

And its not part of the divorce settlement.
Mick

 

[farmerge]

And its not part of the divorce settlement.
Mick

Reported on the TV news tonight, no divorce just a separation. Hmmmmmmmmmmmmmmmmm
She is now wealthier than Twiggy and he has slipped to 10th most wealthy in the land of Oz.

 

[qldfrog]

What's the loss of the odd billion or two??

Half would be more than that plus legal fees

 

[Garpal Gumnut]

So it would be safe to say that the betting world is not looking at a young Hamish Douglass nor a young Kerr Neilson situation, whose trips back up the marital aisle and in reverse to the bucks night and the bliss of single life led to a Napoleonic destruction of investor wealth.

Twiggy and style go together.

I do wish though that he would forget this Hydrogen nonsense.

Perhaps it was the bride's idea.

Interesting times indeed.

gg

 

[farmerge]

Half would be more than that plus legal fees

Perhaps Mrs Twiggy was tired of seeing Him as one of the richest people in Oz. Now She can join with Gina in the top of the table.

 

[Mr Flibble]

Nikola sells Phoenix Hydrogen Hub - Truck News

Nikola has agreed to sell off its Phoenix Hydrogen Hub project to Fortescue Future Industries (FFI). The OEM says the new owner will provide the capital

www.trucknews.com

I hope they know what they are doing. Nikola is a shonky company

 

[basilio]

FMG released its quarterly production report. Probably as good as one could anticipate. Production and sales at the top end of guidance figures. Prices slightly higher than the last quarter. Fresh production starting at Iron Ridge and in Gabon.

I noticed that RIO announced a 30% drop in profit and I was wondering if FMG could be in a similar situation. On these figures no problems.

FORTESCUE | JUNE 2023 QUARTERLY PRODUCTION REPORT Page 1 of 5
Record full year shipments of 192mt
Summary

• Continued focus on safety contributed to a Total Recordable Injury Frequency Rate (TRIFR) of 1.8 in the 12 months to 30 June 2023 (FY23).

• Iron ore shipments of 48.9 million tonnes (mt) in Q4 FY23 contributed to record shipments of 192.0 million tonnes for FY23, achieving the top end of market guidance.

• Average revenue of US$96/dry metric tonne (dmt) in Q4 FY23, realising 87 per cent of the Platts 62% CFR Index, and average revenue of US$95/dmt in FY23.

• Industry leading cost position maintained with a C1 cost of US$17.57/wet metric tonne (wmt) in Q4 FY23 and 17.54/wmt in FY23.
• Strong cashflow generation contributed to a cash balance of US$4.3 billion and net debt of US$1.0 billion at 30 June 2023, compared to net debt of US$2.1 billion at 31 March 2023.

• Iron Bridge commenced production of high grade magnetite concentrate during the quarter and the first concentrate was loaded on ship on 24 July 2023.

• First ore was mined and loaded on train at the Belinga Iron Ore Project in Gabon, with the first shipment expected by the end of the calendar year.

• Continued progress on decarbonisation with the first battery electric haul truck prototype delivered to the Christmas Creek site for testing in the Pilbara operating conditions.

• Celebrated the Company’s 20th anniversary in July 2023, and announced Fortescue Metals and Fortescue Future Industries (FFI) would move to one brand “Fortescue”, to represent being a unified global green metals and energy company.

• Fortescue will operate with two divisions - Metals and Energy. Fortescue Energy will consist of FFI and WAE Technologies.

• In July 2023, the acquisition of the Phoenix Hydrogen Hub in the United States was approved.
• In July 2023, FFI’s Holmaneset Project in Norway was selected by the European Commission as a beneficiary of its Clean Technology Fund.

• Expansion of the WAE battery and electric power train production operations in the United Kingdom, with announcement of a new facility in Banbury, Oxfordshire.
• FY24 guidance for total shipments of 192 - 197mt, including approximately 7mt from Iron Bridge (100 per cent basis) and C1 cost for Pilbara hematite of US$18.00 - US$19.00/wmt.

June 2023 Quarterly Production Report (PDF 238.6 KB)

 

[farmerge]

FMG released its quarterly production report. Probably as good as one could anticipate. Production and sales at the top end of guidance figures. Prices slightly higher than the last quarter. Fresh production starting at Iron Ridge and in Gabon.

I noticed that RIO announced a 30% drop in profit and I was wondering if FMG could be in a similar situation. On these figures no problems.

FORTESCUE | JUNE 2023 QUARTERLY PRODUCTION REPORT Page 1 of 5
Record full year shipments of 192mt
Summary

• Continued focus on safety contributed to a Total Recordable Injury Frequency Rate (TRIFR) of 1.8 in the 12 months to 30 June 2023 (FY23).

• Iron ore shipments of 48.9 million tonnes (mt) in Q4 FY23 contributed to record shipments of 192.0 million tonnes for FY23, achieving the top end of market guidance.

• Average revenue of US$96/dry metric tonne (dmt) in Q4 FY23, realising 87 per cent of the Platts 62% CFR Index, and average revenue of US$95/dmt in FY23.

• Industry leading cost position maintained with a C1 cost of US$17.57/wet metric tonne (wmt) in Q4 FY23 and 17.54/wmt in FY23.
• Strong cashflow generation contributed to a cash balance of US$4.3 billion and net debt of US$1.0 billion at 30 June 2023, compared to net debt of US$2.1 billion at 31 March 2023.

• Iron Bridge commenced production of high grade magnetite concentrate during the quarter and the first concentrate was loaded on ship on 24 July 2023.

• First ore was mined and loaded on train at the Belinga Iron Ore Project in Gabon, with the first shipment expected by the end of the calendar year.

• Continued progress on decarbonisation with the first battery electric haul truck prototype delivered to the Christmas Creek site for testing in the Pilbara operating conditions.

• Celebrated the Company’s 20th anniversary in July 2023, and announced Fortescue Metals and Fortescue Future Industries (FFI) would move to one brand “Fortescue”, to represent being a unified global green metals and energy company.

• Fortescue will operate with two divisions - Metals and Energy. Fortescue Energy will consist of FFI and WAE Technologies.

• In July 2023, the acquisition of the Phoenix Hydrogen Hub in the United States was approved.
• In July 2023, FFI’s Holmaneset Project in Norway was selected by the European Commission as a beneficiary of its Clean Technology Fund.

• Expansion of the WAE battery and electric power train production operations in the United Kingdom, with announcement of a new facility in Banbury, Oxfordshire.
• FY24 guidance for total shipments of 192 - 197mt, including approximately 7mt from Iron Bridge (100 per cent basis) and C1 cost for Pilbara hematite of US$18.00 - US$19.00/wmt.

View attachment 160109 June 2023 Quarterly Production Report (PDF 238.6 KB)

Seems to be a good outcome and now waiting on the divi announcement

 

[basilio]

Share Price has fallen 2.5% today. There were good rises the last couple of days but that was a very solid report. Excellent Iron ore production. Solid price. Significant upsides for 2023-4 with Gabon and Iron Bridge production coming on line. Still ticking along nicely.

 

[farmerge]

Share Price has fallen 2.5% today. There were good rises the last couple of days but that was a very solid report. Excellent Iron ore production. Solid price. Significant upsides for 2023-4 with Gabon and Iron Bridge production coming on line. Still ticking along nicely.

Perhaps the top heavy end of town playing with the SP so as to buy in a bit cheaper????

 

[TimeISmoney]

People are shorting them.

 

[basilio]

Yes, well the shorters seem to be in with a vengance today. Perhaps. Currently down another 6% on top of yesterdays fall.

Wonder if someone "knows" something ? Quarterly production report didn't throw out anything suss (imv)

So where did you source your information TSM ? I had a look on the web for ASK shares being shorted and the site I found didn't seem to have FMG in their top 100 list. Are we missing something ?

ShortMan - Top 100 shorted stocks on the ASX

The top 100 shorted stocks on the ASX, by short position. The full list of shorted positions is also available for download.

www.shortman.com.au

 

[Sharkman]

Wonder if someone "knows" something ? Quarterly production report didn't throw out anything suss (imv)

Iron ore futures on the SGX fell by 3 and a bit % on each of the last 2 days. Of course I don't know for sure, but I'd guess that the share price moves yesterday and today had more to do with that, than anyone "knowing" something.

Sucks that those moves couldn't have happened a day earlier, I had 22.50 covered calls over half my stock position expiring yesterday, had today's close been yesterday's close, those would've neatly dropped off my book fetching me a 2% premium for a week's theta. Ended up having to roll up & out to the 23.01 Sep Europeans at zero cost instead, to avoid assignment and secure the div. But that's how it goes sometimes, the difference between a trade working exactly as planned and having to scramble just to salvage a merely ok outcome can at times be a fine line indeed.

 

[TimeISmoney]

Yes, well the shorters seem to be in with a vengance today. Perhaps. Currently down another 6% on top of yesterdays fall.

Wonder if someone "knows" something ? Quarterly production report didn't throw out anything suss (imv)

So where did you source your information TSM ? I had a look on the web for ASK shares being shorted and the site I found didn't seem to have FMG in their top 100 list. Are we missing something ?

ShortMan - Top 100 shorted stocks on the ASX

The top 100 shorted stocks on the ASX, by short position. The full list of shorted positions is also available for download.

www.shortman.com.au

There's a list on the actual ASX site.
https://www.asx.com.au/data/shortsell.txt

 

[Garpal Gumnut]

There's a list on the actual ASX site.
https://www.asx.com.au/data/shortsell.txt

Seeing as it is the FMG thread I will go off on a small tangent re "finding stuff". This is for information and not directed at anyone and certainly not at @basilio who probably asked the question re shortsell stuff in the conversation and not as a direct request for information, in this case a list of ASX shortsell stocks.

Search engines give a mine of information and are faster than AI.

So using duckduckgo.com (a google like search engine which doesn't follow you to have directed ads haunt you for days after a search) and putting "shortsell asx shares" in to the search box gives https://www.asx.com.au/data/shortsell.txt as the first result.

Should I ever want to quickly return to this thread in five years time putting "shortsell.txt" in to Joe's ASF search engine on this site will give the top result to bring me back to this thread.

Just sayin'. So let us return to FMG ... or sumtin else

gg

 

[finicky]

Seeing as it is the FMG thread I will go off on a small tangent

?

 

[basilio]

There's a list on the actual ASX site.
https://www.asx.com.au/data/shortsell.txt

Thanks for that. Interesting comparison . FMG has .08% shares short sold. Doesn't seem to be that significant ?

 

[TimeISmoney]

Thanks for that. Interesting comparison . FMG has .08% shares short sold. Doesn't seem to be that significant ?

The figure changes daily but it is still a substantial amount of shares when you consider the number of shares.

 

[basilio]

This isn't a good look for FMG or Twiggy. Hope they get some common sense and leave the tower operating.

Pilbara pastoralist pleads with Andrew Forrest's Fortescue to leave phone tower in black spot​

ABC Pilbara
/ By Michelle Stanley
Posted 2h ago2 hours ago

Annabelle Coppin says it would be a "gesture of goodwill" if FMG left its temporary phone tower in place.(Supplied)
Help keep family & friends informed by sharing this article

Link copied
After almost two years of providing mobile phone service to remote Western Australia, Fortescue Metals Group (FMG) has switched off a phone tower — and the community wants it back.

Key points:​

• Mining company FMG has switched off a temporary mobile phone tower near the remote Pilbara town of Marble Bar
• The tower had been providing telecommunications coverage to a black spot in the area for almost two years
• Locals are pleading with the company to leave the tower in place as a gesture of goodwill to the community

The mobile phone tower, 40 kilometres from Marble Bar on the Marble Bar Road, had provided small cell coverage to the remote area since 2021.

The tower previously provided network coverage in the middle of a 110km-long mobile black spot, providing a critical communications lifeline to remote stations and communities around the outback town.
"Why can't [FMG] … give something back to the community that actually really makes a difference?" Yarrie Station pastoralist Annabelle Coppin said.

"It's already there, it's already working, they've already put the assets and the money into it.
"I just think we are crazy not to be saying 'Leave this capital in place, leave it there for community.'"

Anger at Andrew Forrest's mining company's decision to switch off mobile coverage

A prominent Pilbara pastoralist calls for a "gesture of goodwill" from Fortescue Metals Group after it switched off a remote phone tower in the middle of a mobile black spot.

www.abc.net.au