Perhaps you could check this mornings Course of Sales.....
FMG generally follows the OI prices, and there's a lot of fear mongering going around with supply to China. The IO price is just cycling it won't stay down low forever.Perhaps you could check this mornings Course of Sales.....
That "promising looking candle" was a warning, not a blessing..... The Big End of Town is playing games again....
DYOR....
Becareful some predicts FMG will be around $18 plus..I am a holder n keeping my headache at bayPerhaps you could check this mornings Course of Sales.....
That "promising looking candle" was a warning, not a blessing..... The Big End of Town is playing games again....
FMG today is just a repeat of yesterday 8/7 - The only ST move for FMG is Sideways at best....
DYOR....
It's bouched off 21 for a month, I think that might be the floor.Becareful some predicts FMG will be around $18 plus..I am a holder n keeping my headache at bay
It all depends on the Big Dog of materials, if they want to pay top dollar they will, if not they wont.It's bouched off 21 for a month, I think that might be the floor.
Most of the big flogs that can't predict the next day will have sunlight have long bailed. It's a bit strange how they haven't piled on the shorts which tells me it will jump back up sooner or later. The doom and gloom of China were reported by the big wigs and then MinRes spent billions on a state of the art iron ore loading facility. It's another storm in a teacup.It all depends on the Big Dog of materials, if they want to pay top dollar they will, if not they wont.
IMO China is playing with us, dump the value of a resource and see if the FIRB will let them pick up the carcass for nothing.Most of the big flogs that can't predict the next day will have sunlight have long bailed. It's a bit strange how they haven't piled on the shorts which tells me it will jump back up sooner or later. The doom and gloom of China were reported by the big wigs and then MinRes spent billions on a state of the art iron ore loading facility. It's another storm in a teacup.
and a backburner for hydrogen ...Fortescue to Lay Off About 700 Workers; Names Apple Paget as Group CFO
Twiggy Forrest usual has a Plan B ... and C ...and a backburner for hydrogen ...
Forrest said Fortescue would in the immediate future focus on generating and distributing clean power, rather than use that clean power to make hydrogen.
“We’re going to stay where we know we can win, and that’s green electricity. Nothing beats green electricity,” he said.
I think it's just the way the dice land sometimes, Twiggy also had ventures in the US, the possibility of Trump entering the room in the US and Dutton in Australia would chop out much of the support for green energy. He still has a lot going on with electrifying his mining operations.Twiggy Forrest usual has a Plan B ... and C ...
gg
Not directly fmg, just fmg money so shareholders $..and fmg PR about hydrogenFortescue, Playground-backed hydrogen flight start-up collapses
Universal Hydrogen had attracted almost $150 million in funding, including from Aussie Peter Barrett’s Playground Global, but it wasn’t enough for it to take flight.www.afr.com
However Fortescue may try to spin it, the announcement it will slash 700 roles from its global headcount is more than just an attempt to remain “lean, impactful and agile”.
The last time Fortescue made cuts this deep into its workforce was when it sacked 1000 people in a single day in 2012, when the tumbling iron ore price combined with Fortescue’s massive debts to create an existential crisis for the iron ore producer.
For Fortescue to abandon its ambitions to produce 15 million tonnes of green hydrogen a year by 2030, and make similarly deep cuts to its workforce, represents a humiliating backdown.
Not because the company has abandoned the goal in the face of reality.
But because Dr Forrest and his leadership team spent the past three years waving away genuine concerns about the plans that were being expressed by investors, market analysts, hydrogen and energy experts, and even the company’s own staff – many of whom left in frustration well ahead of Wednesday’s announcement.
In that time Fortescue has become increasingly erratic in its strategy and less tolerant of criticism – both internally and from the media and the investment community, as the company embraced the new vision of its founder and the “creative chaos” that came with it.
You cannot fault Forrest for his ambition, his commitment to innovation, and his attempt to try to drive a shift to green energy by bringing the scale of Fortescue’s resources to bear on a problem others have found too difficult to grapple with.
Hopefully some good will eventually come of all that frenzied work.
But belief alone cannot defy reality, and it has been clear for some time that Fortescue took on more than it could ever handle – perhaps to the detriment of projects that could have been achieved.
Plenty of voices inside Fortescue have been saying that along the journey, but have been told to get with the program or leave.
The reputational damage brought about by the retreat from this green foray is enormous, both to Fortescue and to other Australian companies operating overseas.
Forrest has spent the past four years touring developing nations making big promises about the jobs that green hydrogen will bring, and the economic transformation his company could help deliver to some of the poorest countries in the world, if they give Fortescue access to their resources.
Few, if any, of those promises will now be delivered – and that will not be easily forgotten the next time an Australian company rolls into town looking for support for a mining or energy project.
Many investors will welcome Wednesday’s backdown as offering hope the company will return its focus to the mining arm where it makes its money.
But real questions still need to be asked about how the rest of the Fortescue board did not rein in Forrest’s green ambitions well before now.
@JohnDe This is certainly not a good look for FMG and for the staff who have been retrenched, now will be doing what?Maybe now people will start to realise that harnessing hydrogen as an energy source is a very complex issue. Not impossible but very difficult and expensive to get to the desired goal.
Dr Forrest and his leadership team spent the past three years waving away genuine concerns about the plans that were being expressed by investors, market analysts, hydrogen and energy experts, and even the company’s own staff – many of whom left in frustration well ahead of Wednesday’s announcement.But belief alone cannot defy reality, and it has been clear for some time that Fortescue took on more than it could ever handle – perhaps to the detriment of projects that could have been achieved.The reputational damage brought about by the retreat from this green foray is enormous, both to Fortescue and to other Australian companies operating overseas.Forrest has spent the past four years touring developing nations making big promises about the jobs that green hydrogen will bring, and the economic transformation his company could help deliver to some of the poorest countries in the world, if they give Fortescue access to their resources.Few, if any, of those promises will now be delivered – and that will not be easily forgotten the next time an Australian company rolls into town looking for support for a mining or energy project.
That's fairly normal in the mining industry, I was in Port Hedland years ago with Monodelphious and they laid off over 200 people at once because engineers miscalculated the profitability of a conveyor system. People were on the phone all day trying to cancel new car orders, 10K bed suites and so on. Not a nice position to be in that's for sure.@JohnDe This is certainly not a good look for FMG and for the staff who have been retrenched, now will be doing what?
Can someone please post a link to Dr Andrew Forrest's full PhD dissertation? I can only find an abstract. TIA.
Good morning Professor.@Sean K, to my knowledge, Dr. Andrew Forrest’s PhD dissertation, is not publicly available. The University of Western Australia’s research repository only provides the abstract and some details about the dissertation.
To access the full text, you might consider contacting the University of Western Australia’s library or the School of Biological Sciences directly. They may be able to provide access or guide you on how to obtain it.
Skate.
Good morning Professor.
I wonder why Twiggy's PhD is a hidden feature. Is it a give me for perhaps a large donation to UWA at some stage.!!!!
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