FMG - Fortescue Ltd

[farmerge]

FMG is now well and truly at historic highs. I am picking it for the CY2024 comp because I can see its iron ore production and profitability continuing to grow and the host of renewable energy projects starting to make shape.

The big miners are certainly going gang busters, but will they still be doing so in 6 months. Son in the Pilbara reckons a change may be cometh in about 6 months. Hmmmmmmmm

 

[farmerge]

My 1st pick is FMG. Powering uphill at the moment. Can't go past this serious miner.

 

[basilio]

Someone has put a sell order in for 250,000 shares at $27.20 this morning.
Be interesting to see if the order is executed or disappears before 10 am.

 

[basilio]

Someone has put a sell order in for 250,000 shares at $27.20 this morning.
Be interesting to see if the order is executed or disappears before 10 am.


View attachment 168523

Nope... No surprise there. Of course it could have been a simple fat finger mistake that was picked up before opening time. A sale for 2500 shares rather than 250,000.

SP currently up 43c to $28.18

 

[Garpal Gumnut]

Nope... No surprise there. Of course it could have been a simple fat finger mistake that was picked up before opening time. A sale for 2500 shares rather than 250,000.

SP currently up 43c to $28.18

Those pre-open post close buy/sell are often I believe just to keep the boxes filled for aesthetic purposes.

I may be wrong though. I generally ignore them on ASX listed stocks.

gg

 

[dat111]

Fortescue (OTCQX:FSUMF) will partner with the state of Michigan to open a production hub for automotive and heavy industry batteries, fast chargers and electrolyzers, Governor Whitmer's office announced Tuesday.

The company will rehabilitate an existing 410K sq ft facility in Detroit, turning it into a manufacturing and engineering workspace, with production starting in 2025.

To support the project, the Michigan Strategic Fund approved a $9M state development program performance-based grant; a 15-year, 100% state essential services assessment exemption valued at ~$1.3M, and a state tax capture worth ~$2.375M for the reimbursement of redevelopment work at the site.

The city of Detroit also will support the project through an industrial facilities tax abatement valued at up to nearly $7.7M and the local portion of redevelopment work valued at ~$4.2M.

Fortescue (OTCQX:FSUMF) last year approved a $550M green hydrogen project in Arizona, joining other foreign companies attracted to the U.S. by the Biden administration's Inflation Reduction Act.

 

[Sean K]

My 1st pick is FMG. Powering uphill at the moment. Can't go past this serious miner.

Was powering up hill until you picked it!

Why has it come off? Looks to be recovering a bit.

 

[basilio]

Dec Production report came out this morning. Lots of ticks. Price of Iron Ore has jumped considerably in the Dec Quarter so profits will follow. SP jumped at opening and currently up by 2%

FORTESCUE DECEMBER 2023 QUARTERLY PRODUCTION REPORT Page 1 of 5
Strong performance contributes to half year shipments of 94.6Mt
Summary
• Total Recordable Injury Frequency Rate (TRIFR) for Metals of 1.8 at 31 December 2023, consistent with 30 September 2023.

• Iron ore shipments of 48.7 million tonnes (Mt) in Q2 FY24 contributed to shipments of 94.6Mt in H1 FY24, the second highest first half shipments in Fortescue’s history.

• Pilbara Hematite C1 cost of US$17.62/wet metric tonne (wmt), two per cent lower than Q1 FY24.

• Pilbara Hematite average revenue of US$116/dry metric tonne (dmt) for the quarter, realising 91 per cent of the average Platts 62% CFR Index.

•Iron Bridge Concentrate revenue of US$144/dmt was 104 per cent of the average Platts 65% CFR Index for November 2023.

•Cash balance of US$4.7 billion and net debt of US$0.6 billion at 31 December 2023.

•Announced a Final Investment Decision on the Phoenix Hydrogen Hub, USA, the Gladstone PEM50 Project in Queensland, Australia, and a Green Iron Trial Commercial Plant at Fortescue’s Christmas Creek mine site, Western Australia.

•Launched Fortescue Capital, a green energy investment accelerator platform, headquartered in New York City.

•Shipped the first product from the Belinga Iron Ore Project in Gabon, the first time the Company has exported iron ore from a port outside of Australia.

•Deployed Australia's first operational electric excavator at Cloudbreak, a significant milestone in the Company’s decarbonisation journey.

•Annual Modern Slavery Statement published, reaffirming Fortescue’s commitment to upholding human rights and eliminating modern slavery.

•Guidance for FY24 total shipments is unchanged at 192 - 197Mt. This is inclusive of Iron Bridge shipments of 2 - 4Mt (100 per cent basis, previously 5Mt).

•Iron Bridge FY24 shipments guidance has been revised due to performance of the Raw Water Pipeline. Work is underway to resolve the performance issues.

•Guidance for FY24 Pilbara Hematite C1 cost and capital expenditure remains unchanged.

December 2023 Quarterly Production Report (PDF 325.7 KB)

Fortescue Metals Group reports 1.4% drop in Q2 iron ore shipments - ShareCafe

Fortescue Metals Group (ASX:FMG) revealed a small 1.4% fall in second-quarter iron ore shipments due to ongoing maintenance activities at some of its key projects in Western Australia’s Pilbara.

www.sharecafe.com.au

 

[Value Collector]

Was powering up hill until you picked it!

Why has it come off? Looks to be recovering a bit.

Share prices fluctuate.

 

[sptrawler]

I moved FMG on today, so they should really fly now.
Can't complain, good divs, doubled the price.
Time to watch for a while and park the money at 5%

 

[Value Collector]

I moved FMG on today, so they should really fly now.
Can't complain, good divs, doubled the price.
Time to watch for a while and park the money at 5%

But if you just hold your FMG your money is parked at 12.5% (inc franking) , that gives you pretty good staying power to basically watch indefinitely

 

[sptrawler]

But if you just hold your FMG your money is parked at 12.5% (inc franking) , that gives you pretty good staying power to basically watch indefinitely

Doing a lot of travelling over the next 18 months, just want to settle the portfolio into a more relaxed state, always opportunities to get back on board.
There has been many times I wished I had never sold a particular share and there has been many times I wished I had.
Time will tell which this is.

 

[Value Collector]

Doing a lot of travelling over the next 18 months, just want to settle the portfolio into a more relaxed state, always opportunities to get back on board.
There has been many times I wished I had never sold a particular share and there has been many times I wished I had.
Time will tell which this is.

Thats the good thing about being a long term buy and hold investor, I can holiday and travel as much as I like and my shares just sit there, I can go a month and not need to check in on my portfolio, I just read the quarterly, half yearly and annual reports, and collect divvies in the mean time.

Last year I did 3 x Cruises, 1 x UK trip and 2 X USA and canada trips, I didn’t feel any need to sell the farm . At one point I didn’t even check in to ASF for months.

You don’t need to micro manage your holdings.

 

[sptrawler]

Thats the good thing about being a long term buy and hold investor, I can holiday and travel as much as I like and my shares just sit there, I can go a month and not need to check in on my portfolio, I just read the quarterly, half yearly and annual reports, and collect divvies in the mean time.

Last year I did 3 x Cruises, 1 x UK trip and 2 X USA and canada trips, I didn’t feel any need to sell the farm . At one point I didn’t even check in to ASF for months.

You don’t need to micro manage your holdings.

Depends how big a holding you have I guess, I'm not in the position to have huge holdings in anything and as I get older the ETF, LIC path is looking more and more attractive.

 

[Value Collector]

Depends how big a holding you have I guess, I'm not in the position to have huge holdings in anything and as I get older the ETF, LIC path is looking more and more attractive.

Nothing wrong with that

My super is pretty much all in VAS and VGS, with a couple property trusts.

 

[Dona Ferentes]

Nothing wrong with that

My super is pretty much all in VAS and VGS, with a couple property trusts.

must be the FMG thread

 

[Value Collector]

must be the FMG thread

What’s your point? it was a reply to sptrawler who 4 posts earlier was talking about his reasoning about selling his FMG, and responded by comparing the interest he mentioned to FMG divvy.

some of you guys need to chill, topics are allowed to branch around the edges, some of the best discussions happen there.

if you don’t like it just click ignore.

 

[dyna]

There's always the haircut thread .
( I had a big one , today )

 

[Dona Ferentes]

There's always the haircut thread .
( I had a big one , today )

me too.

 

[qldfrog]

I moved FMG on today, so they should really fly now.
Can't complain, good divs, doubled the price.
Time to watch for a while and park the money at 5%

Good timing IMHO

https://www.reuters.com/markets/commodities/fortescue-works-clear-iron-ore-held-china-quarterly-shipments-rise-2024-01-25/