Had no i idea, Is that why no ones sparing.Valium make booboos...forget them
i wouldn’t read too much into it, it’s paid a $1.54 in dividend so that’s part of the drop, and iron ore has come off a bit which always causes the market to freak out a bit.Tricky business! I notice it was up with my broker site. After all the revelations of FMG in the news and that big pay day I thought they be going great guns. But when I had a look at there chart I was surprised to see them sinking. So I guess I just lost the plot and to took FMG at face value and was shocked. I understood they'd been down these last couple of days and there up today 1.83% at this present time but I'm still shocked and need my Valium...Thing is I don't think it gunner climb any time soon. ( it chocking )
Is the recent downturn the past month due to Administration and poor money management giving away all those Billions ?
I think the biggest lesson to take from nickel is that it’s best to be the low cost producer not the high cost marginal producer.Being Australia centric, the greater the spread, the safer the gamble.
As nickel has shown, materials are a fickle market.
You can get lots of crazy ideas starring at charts.The more I stare at the chart of Twiggy's opus , the more I see Santos , all over again . Be grateful there's no Alan Bond around with this one. STO didn't improve with him gone , either . It became a gift for short term traders and that is how I'll approach FMG for my next entry .
In. Make a quick buck. and out.
- Australia's Fortescue , the world's fourth-largest iron ore miner, is looking at developing its copper resources but has not made a decision yet, its founder and executive chairman told Reuters on Saturday.
"The company has choices in front of it ... we have a lot of copper options on the table. And when we feel the time is right, we'll pull the trigger," Andrew Forrest said during a visit to Beijing.
However, he said the company was not looking at First Quantum's idled Cobre Panama copper mine. Cobre Panama, one of the world's largest open-pit copper mines, was forced to shut in December after Panama's top court ruled its contract was unconstitutional.
In February 2023, Fortescue said it would focus on copper, rare earths and lithium while ramping up exploration activities for critical minerals portfolio.
"We haven't pulled the trigger on lithium, which has been wise because their prices collapsed," said Forrest.
Copper prices rallied about 13% from early February, touching an 11-month peak of $9,025.5 on Monday, before pulling back on Friday amid a stronger dollar and profit taking.
The trigger for the latest price jump was news that major top Chinese copper smelters reached an agreement to lower operation rates at some loss-making plants after their margins were squeezed amid a tightening supply of raw materials.
By comparison, lithium prices fell more than 80% in the past year due to softening EV demand and surging supplies, forcing many high-cost producers wordwide to cut production.
Foretescue will continue to invest in iron ore, a steelmaking ingredient, as demand from renewable energy and the manufacturing sectors will grow, Forrest said.
"There's always ups and downs, but the trend is still rising...we're seeing China growing from an emphasis on infrastructure to a dual emphasis on infrastructure and manufacturing."
(Reporting by Amy Lv and Tingshu Wang in Beijing, Tony Munroe in Singapore; Additionaly reporting by Melanie Burton in Melbourne, Florence Tan and Jeslyn Lerh in Singapore Editing by Mark Potter and Christina Fincher)
It’s nice to have options on the table.
It sounds frightening.You can get lots of crazy ideas starring at charts.
Maybe take a look at the fundamentals, and its earning power over the last 5 years and see if it compares to Bonds.
I will gives you a hint, just in dividends alone, FMG has return over 100 times the amount investors originally put in to start the company, does that sound like anything Allan Bond did?
What does?It sounds frightening.
Comparing Twiggy to BlondieWhat does?
I actually read a book on Alan Bond last year (picked it up cheap at the salvos), he was a colourful character, but had the heart of a conman who hoped to cover his tracks through wild speculations he hoped paid off.Comparing Twiggy to Blondie
Less employees, wages, super etc etc and more moolah for Twiggy as he obviously gets the elephants share with every diviCouple of interesting tidbits out of FMG.
The new "you bewt" electric digger has just dug its 1 millionth ton of ore. Appears to be going well
The other "You bewt" big boys toy - the 240 ton battery electric haul truck is off and running.
FMG say that full decarbonisation using these machines will save 95Million liters of diesel a year.
Fortescue’s first operational electric excavator reaches one million tonne milestone
Fortescue’s electric excavator has now moved one million tonnes since being deployed in December.fortescue.com
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