Can we shake hands, Chipp? But I am certain I have less faith than you; I'm very short sighted.
Can we shake hands, Chipp? But I am certain I have less faith than you; I'm very short sighted.FWIW i am only in this for a 4-5 weeks style swing trade . All systematicaly driven .
I " invest " my time looking for high probability swing trades for SMSF . Mind you getting into some investments at x period lows has merit if you truly have faith in the company . I have little faith in most of them but i do look at balance sheet metrics so i dont buy " Green Mile " things
Not much shorting action to my surprise, iron ore prices have dropped a bit, but are steady. I guess a few analysts have put the stock on sell due to China's economy pulling back and the block trade of 1.1 Bil has definitely held the price down today. It's a 70 Bil market Cap company so it's highly unlikely of a takeover at this stage. Maybe there are a few large institutions that don't like the green movement in the company, but if someone is willing to risk 1.1 bil makes me wonder what they know that we don't?I see where you are coming from; l'm procrastinating because I don't want my head on the block when I'm not in it...watching because I thought there might be something in it that I can traded. It opened at 22.35, but not made it to that so far. Can't watch tomorrow to gauge (will be on the road) Hate getting run over when I'm not watching...at the very least, investors and traders are showing interest, so that's a big plus.
Price of iron ore was up today but the block sale kept a weight on FMG. Next few days will add more clarity. Huge volumes traded 70 plus million, wondering how much change hands after 4pm? Course of sales will tell a story too. Have a great night, good luck, everyone.Not much shorting action to my surprise, iron ore prices have dropped a bit, but are steady. I guess a few analysts have put the stock on sell due to China's economy pulling back and the block trade of 1.1 Bil has definitely held the price down today. It's a 70 Bil market Cap company so it's highly unlikely of a takeover at this stage. Maybe there are a few large institutions that don't like the green movement in the company, but if someone is willing to risk 1.1 bil makes me wonder what they know that we don't?
Yesterday was the single largest volume as dollar value in FMG history , given that could have been handled better you have to wonder why such urgency
Yeah, don't know if it's Insto's playing games or something is about to happen with iron ore prices that we don't know about. I can't imagine MinRes spending all that money on a loading facility at Port Hedland if the IO price was about to tank though.Yesterday was the single largest volume as dollar value in FMG history , given that could have been handled better you have to wonder why such urgency
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The former Fortescue executive now being sued by the Andrew Forrest-led company amid allegations of intellectual property theft has taken aim at the hydrogen technology at the centre of his former employer’s “green steel” strategy.
Speaking publicly for the first time since Fortescue launched a Federal Court action against his company Element Zero, long-time Forrest lieutenant Michael Masterman revealed that key customers in Asia had directly questioned the merits of using hydrogen to make steel.
Appearing at an Australian British Chamber of Commerce conference in Perth on Monday, Mr Masterman said Element Zero’s technology would be far more energy efficient than rival green steel techniques that involved the use of hydrogen.
He described a meeting he had with the chairman and chief executive of a major Japanese steel producer when he was still involved in promoting Fortescue’s hydrogen ambitions.
“Halfway through the presentation, the chairman said ‘Masterman San, this hydrogen is fantastic, but it’s not going to help us one iota in terms of being able to reduce carbon emissions. What we need you to do is go back to Australia and work out how to combine the vast renewable energy resources you have up there in the Pilbara, with your supply chain for iron ore. Bring those together in Port Hedland or at the Rio Tinto ports, and convert that iron ore into green iron and be able to ship it to us’,” Mr Masterman said.
“The best place in the world to take the carbon emissions out of iron steel making is in northwestern Australia. So the industrial logic is there, the cost structures are there, and we believe in rapidly advancing technology to be able to scale up and really take emissions in this space … to zero in a way that just cannot be done with the other technologies.”
Element Zero’s technology, developed by Mr Masterman and former Fortescue chief scientist Bart Kolodziejczyk, involves removing many of the impurities in iron ore by running renewable electricity through a chemical solution.
Mr Masterman said such an approach would require less renewable energy than rival plans involving hydrogen DRI (direct reduced ironmaking), which require using renewable energy to produce hydrogen that is then used to process the iron ore.
“The reason why this technology is superior to, say, hydrogen DRI is that we don’t have a loss associated with making hydrogen in the first place,” he said.
“At the moment, hydrogen DRI takes green electrons, which as everybody has said is scarce, and loses 25 per cent when converting to hydrogen … Our technology uses the green electrons directly and it can use them on an intermittent basis.”
Mr Masterman had a long association with Fortescue and Dr Forrest, having previously worked as the chief financial officer of the company’s green energy arm Fortescue Future Industries and chairing Dr Forrest’s privately owned renewable energy group Squadron Energy.
Fortescue earlier this year won court orders authorising searches of Element Zero’s offices after accusing the former Fortescue employees at the company of taking its intellectual property with them when they quit. Element Zero has described the claims as “spurious” and “entirely without merit”.
Element Zero has been testing its technologies on iron ores from across Australia, and the company is now planning to build a plant in Port Hedland that will process five million tonnes a year of iron ore into 2.6 million tonnes of green iron. Mr Masterman says the technology is scalable so can be easily expanded over time.
The output, he said, would be “vastly superior” to that currently produced in blast furnaces around the world.
“The key to actually making this business chain or supply chain work is being able to harness the great amounts of iron ore produced out of Port Hedland with the vast renewable assets that are available and deployable in the Pilbara of Western Australia, through our manufacturing plants to produce high-quality green iron that can go to all the major steel mills of the world, and they can then save 70 per cent of their carbon emissions by taking our green iron,” he said.
not sure about the meaning of L! and S1? For a novice like me?
not sure about the meaning of L! and S1? For a novice like me?
Pilbara traditional owners call for inquiry into Andrew Forrest's Solomon Hub
After years awaiting compensation, Yindjibarndi Ngurra Aboriginal Corporation has called for an inquiry into the lucrative Solomon Hub iron ore mine claiming the it operates "below the current standard of industry regulation".www.abc.net.au
Typical 1st people b/s
WA Aboriginal community reject $10 million per year for land rights
"Aboriginal jobs rejected
Even offers of jobs for local Aboriginal people have been slammed by Woodley, because he claims it is “just another attempt at white assimilation.”
"We don’t want to be trained as labour for Fortescue’s mines," he says.
"We want a fair share in the mineral wealth of our traditional country, to create our own businesses and jobs, to deliver better healthcare and educate our children.
"We are doing that already, through our Juluwarlu organisation, recording our languages, history and culture in books, CDs and films.”
The people in the Roebourne Aboriginal village, about 40 kilometres from the Pilbara mining town of Karratha have a high dependence on social security and 20 people are often crammed into the tiny homes where alcohol and drugs are rife.
Despite the offers of well-paying jobs in nearby mines, most Aboriginal people in the area are unwilling to make the change, and the imprisonment rates remain high.
Woodley said the Aboriginal people are scared by the idea of working in a mine on their traditional and many are illiterate, perhaps because the rate of school attendance remains low."
$10 Million a year is a Bargin compared to what The UK pays their traditional owners per year just to use the sea bed
WA Aboriginal community reject $10 million per year for land rights
"Aboriginal jobs rejected
Even offers of jobs for local Aboriginal people have been slammed by Woodley, because he claims it is “just another attempt at white assimilation.”
"We don’t want to be trained as labour for Fortescue’s mines," he says.
"We want a fair share in the mineral wealth of our traditional country, to create our own businesses and jobs, to deliver better healthcare and educate our children.
"We are doing that already, through our Juluwarlu organisation, recording our languages, history and culture in books, CDs and films.”
The people in the Roebourne Aboriginal village, about 40 kilometres from the Pilbara mining town of Karratha have a high dependence on social security and 20 people are often crammed into the tiny homes where alcohol and drugs are rife.
Despite the offers of well-paying jobs in nearby mines, most Aboriginal people in the area are unwilling to make the change, and the imprisonment rates remain high.
Woodley said the Aboriginal people are scared by the idea of working in a mine on their traditional and many are illiterate, perhaps because the rate of school attendance remains low."
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