FMG - Fortescue Ltd

[CoffeeKing]

Having watched the "dumper" being built, the "railway" to cloudbreak completed and driving the first train out with "the ore" on it............
now the "big ship" arrived this afternoon
Congratulations to Mr Forrest, job well done, proud to be a part of it,
FOOS tomorrow.

 

[Lemme]

Makes you proud to be an Australian I reckon. Well done to all the people who made it happen. If they can do this in a couple of years there is no stopping them now.

 

[Ozland]

Having watched the "dumper" being built, the "railway" to cloudbreak completed and driving the first train out with "the ore" on it............
now the "big ship" arrived this afternoon
Congratulations to Mr Forrest, job well done, proud to be a part of it,
FOOS tomorrow.

You drove the train?!!! How awesome!

Wish I was there to see all these BIG things happening. I might drive up there and check it out. In fact, as a shareholder I see it as my duty to inspect the works to be sure my investment is secure!!!

 

[agro]

The problem with value buying is that some stocks that are undervalued stay undervalued for years and some others are already "expensive" yet keep going up.

exactly look at Incitec Pivot..

anyhow


SHIPMENT TODAY - CONGRATULATIONS FORTESCUE, TWIGGY AND ALL THE SHAREHOLDERS WHO BELIEVE! LETS DO IT AGAIN WITH THE RAMP UP AND SHOW THE WORLD WITH FLYING COLOURS!

 

[Prospector]

The announcement is just out - the ore is being loaded. Congratulations to all the workers who made this happen, and those who had the Vision in the first place to make it happen. And thoughts of those who lost their lives as the story unfolded.

 

[agro]

anyone else notice a couple cross trades of 100,000 and 150,000 go through,

seems as though it gets dumped followed by a massive accumulation

 

[njc.corp]

anyone else notice a couple cross trades of 100,000 and 150,000 go through,

seems as though it gets dumped followed by a massive accumulation

Argo- yes i noticed that-started off good-spiked harded and cam back to earth-

i feel its good to balance things-bought more in at the end of the day as it hit the low-

friday is a new day and will c what the outcome is on the when the ship leaves-

2 more things in the way-ship leaving and ship arriving in china safely-

i also think that the increase in mtpa is the last thing fmg have to honor-

What u think?

i still hold-

Thanks

Nick--

 

[agro]

Argo- yes i noticed that-started off good-spiked harded and cam back to earth-

i feel its good to balance things-bought more in at the end of the day as it hit the low-

friday is a new day and will c what the outcome is on the when the ship leaves-

2 more things in the way-ship leaving and ship arriving in china safely-

i also think that the increase in mtpa is the last thing fmg have to honor-

What u think?

i still hold-

Thanks

Nick--

i think it is a wise idea that you bought more because we may not see under $10 ever again.

look at it this way - the companies who are able to deliver ore to china in the next couple of years provided the prices increase and demand is strong, i think the earnings will only get better

we are talking 100s of tonnes of quality of ore, up there with BHP and RIO - remember if these two merge, FMG will be the second biggest in aus and its likly that China may boycott them if they continue to want higher freight differentials

there is also the potential of dividends too so worth holding unless ofcourse you want to jump on the next potential fortescue which could be a juniour like Atlas, Ferraus or Gindalbie??

twiggys out to make a point.

 

[njc.corp]

i think it is a wise idea that you bought more because we may not see under $10 ever again.

look at it this way - the companies who are able to deliver ore to china in the next couple of years provided the prices increase and demand is strong, i think the earnings will only get better

we are talking 100s of tonnes of quality of ore, up there with BHP and RIO - remember if these two merge, FMG will be the second biggest in aus and its likly that China may boycott them if they continue to want higher freight differentials

there is also the potential of dividends too so worth holding unless ofcourse you want to jump on the next potential fortescue which could be a juniour like Atlas, Ferraus or Gindalbie??

twiggys out to make a point.

i also feel that it was a good time to buy-

but one thing i would like to ask fmg holders or asf members is the increase in mtpa a bit early-

i mean would u even say that fmg is up and running to say such and such increase in mtpa?

Thanks

Nick--

 

[MRC & Co]

Any chartists here?

This does not look good at the moment (only short-term), a flag flying on the wrong angle, volume increasing and today a bit of a shooting star took place.

A little bit of distribution taking place?

Any votes for a retest of the old high?

 

[MichaelD]

Any chartists here?

There's more than one (including me). As the ramping gets more and more hysterical in here, I can't but help notice that we're no longer seeing higher highs...

Still, there has been more than one time lately where I've felt something couldn't go up (or down) much further and the market has proved me wrong.

Disclosure: I currently hold a fully pyramided long position in FMG.

 

[Boggo]

skys the limit now with FMG,

skeptics gone into hiding and are now having a dig at FMG meeting its 250mt ramp up lol *shakes head*

While running the risk of being called a one of those here is my take on it.

I bought in at 7.33 on 07/04 on the short term breakout in MS...

I sold yesterday at 9.20, MTP charting is a good heads up and often very accurate with wave 3, I have never lost while taking a profit in this area

From a charting perspective there is a the potential for a return to around 8.50.

One piece of news can have quite an influence (either way) on this stock.

Where to from here, not sure, I am on the sidelines until it does something new.

This is my 2 cents worth based on my procedure.

Mike

 

[MRC & Co]

Boggo,

MS, MTP? Any expansion and explanation of these acronyms you wish to share?

Yellow lines support/resistance based upon? Red line an MA used as trailing stop?

With some EW thrown in for an overall trend forecast?

Cheers

 

[Boggo]

Boggo,

MS, MTP? Any expansion and explanation of these acronyms you wish to share?

Yellow lines support/resistance based upon? Red line an MA used as trailing stop?

With some EW thrown in for an overall trend forecast?

Cheers

MS = Metastock
I saw $7 as a significant point on the MS chart and bought above that the next day.

MTP = MTPredictor Elliott Wave software.
It indicated where a typical wave 3 may end, unless it ploughs through that area I tighten the stops and wait (stop is normally the red line except in this scenario)

Nothing mysterious to it.
I may re-enter if it breaks out of the current congestion or if the Elliott pattern plays out.
I have followed an almost identical procedure on ABY (successfully)

Just thought I would post my handling of FMG.

Mike

 

[MRC & Co]

Yes, thats good, thanks Boggo!

Always interesting to see how other traders do it!

Just a few questions if you don't mind.

What are the yellow lines and how are they determined? MTP predicts the length of waves using rules/guidelines/fibs? What period MA is the red line?

Good to see someone take initiative and simply exit without waiting for a stop to be triggered when the trade looks ominous (in this case, wave 3 looses it's momentum and hence, strong impulse). As you say, you can always re-enter.

Cheers

 

[agro]

Good news for Fortescue!! RIO Boycotted by Chinese

MINING giant Rio Tinto yesterday shrugged off new threats of an iron ore boycott in China as tensions continue to boil over iron ore price talks.

Any such orchestrated boycott, if enacted, could put China in breach of World Trade rules.

Rio has angered Chinese steel mills by exercising flexibility clauses in its contracts to divert some contracted iron ore sales to premium-priced spot markets.

Both Rio and BHP have been putting more ore on spot markets to maximise pressure on the Chinese. But so far BHP, perhaps sensitive to China's concerns over its hostile $160 billion bid for Rio, has refrained from exercising similar clauses in its contracts.

In a statement yesterday, the China Iron & Steel Association asked domestic steel mills and iron ore traders to boycott Rio's spot iron ore sales in retaliation for cutting back on its long-term sales volumes.

"We appeal to domestic mills and traders not to support or participate in Rio Tinto's spot iron ore sales activities in China," the association said.

In response, Rio said it was entitled to sell into Chinese spot markets and that "for CISA to suggest joint action by the Chinese steel industry to prevent this is a very concerning development".

But it suggested CISA's statement was a negotiating tactic, noting that it should be considered "in the context of the iron price negotiation".

"Rio can understand that when the market is as tight as it is, steel mills will want to maximise their volumes from Rio Tinto," Rio's head of iron ore Sam Walsh said.

"However, Rio Tinto remains determined to achieve a fair price outcome for its shareholders."

Rio and BHP are believed to be pushing for an annual price rise of about 85 per cent, breaking ranks with Brazilian rival Vale that has already agreed to a price rise of 65-71 per cent.

Mr Walsh noted that spot prices in China were about $US180-$US190 a tonne, or more than double the old 2007-08 contract price.
http://www.theaustralian.news.com.au/story/0,25197,23705694-643,00.html

 

[Lemme]

Anyone know what the power supply infrastructure to the mine is? I haven't heard of a power line from Port Hedland being built or a gas pipeline to run Gas turbine generators. If they are running on diesel then production costs are going to be very high initially.

 

[njc.corp]

Anyone know what the power supply infrastructure to the mine is? I haven't heard of a power line from Port Hedland being built or a gas pipeline to run Gas turbine generators. If they are running on diesel then production costs are going to be very high initially.

Leme-this is a very good- point-

i have looked at this very basic but important point has its what makes or brakes a business or a major company cost-

but i dont know what power they use-but i asked a freind who has driven those massive tonga trucks and he say's-u would be amaze how much they use in diesel on the up -load trip-

so my point is maybe they use a lot of diesel-but where are they saving money in production?

imo-they would save a lot of money-if what they are saying is true like--

surface mining- thats a first- means no drilling,no drilling and blasting-

in my eye's the blasting cost would save a lot of money and man hours

drilling is a labour cost-so no drilling in my eye's is more productive and can make more money-

but from a basic point of view the surface mining looks like a cost cut and must be effective to them or else i dont think they would have done it--

On the other hand-most companies that feel that the cost is going up-always past it on to the customers-

same story as the airline's jet fuel problem-the passenger is paying for it- i know i am still flying-

Thanks

Nick--

 

[Lemme]

Nick,

Newman is now running gas generators supplied from the pipeline after initially running on diesel in the 70s and 80s. This is probably the way to go. FMG probably have plans to connect to the pipeline eventually. More cost savings ahead I would say.

Steve

 

[Miner]

Extract from Eureka Report Article by Charlie Aitken

Charlie was the lone Australian broker who said FMG will reach $100 (before split) and many so called experts (skeptics ?) laughed at him.
He and the believers in FMG are now laughing at those skeptics

I thought you would be interested to read the extract and for details please refer Eureka Report http://www.eurekareport.com.au/
"FMG Moving into a new higher trading range

As the market now comes around to focusing on Fortescue as a 100 mtpa producer, the stock – currently trading at about $9.20 – will trade between $12.40 and $15. That also hasn't assumed Fortescue pays any dividends, which they are likely to do.

Over the next 12–18 months the stock will track up to the "100 mtpa" trading range of $12.40–15. I also suspect during that period the Chinese Government or Anglo American will come on to the register.

So even at just the interim production target of 100 mtpa I can see Fortescue's share price being almost double today's price over the next three years."