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FMG - Fortescue Ltd
- Thread starter GreatPig
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Well FMG is certainly off to the races. Reached $21.60 this morning and currently $20.80. Closed at $17.69 on Sept 23.
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There is a lot of disruptive news in the markets with IO prices ATM, but the IO price is holding on fairly well.
FMG saw another fall with their SP, but it is still not touched by a great deal of shorters to my surprise. Maybe an entry point for newcomers at the lower SPs.
The US presidential elections with the possible entry of Trump has sent much fear into the markets. Another thing to see is how effectively Trump delivers the trade embargoes if he gets into office. Many economic analysts expect the US inflation to increase to high numbers with the entry of Trump.
The FMG Sept quarterly result wasn't received too well by some, but one must expect the ups and downs of any commodity driven company.
( still holding)
FMG saw another fall with their SP, but it is still not touched by a great deal of shorters to my surprise. Maybe an entry point for newcomers at the lower SPs.
The US presidential elections with the possible entry of Trump has sent much fear into the markets. Another thing to see is how effectively Trump delivers the trade embargoes if he gets into office. Many economic analysts expect the US inflation to increase to high numbers with the entry of Trump.
The FMG Sept quarterly result wasn't received too well by some, but one must expect the ups and downs of any commodity driven company.
( still holding)
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FMG released its Quarterly report last week. Looked good
Record first quarter shipments in strong start to FY25
Summary
• Group Total Recordable Injury Frequency Rate (TRIFR) of 1.2 at 30 September 2024, 29 per cent lower than 1.7 at 30 September 2023.
• Total iron ore shipments of 47.7 million tonnes (Mt) in Q1 FY25, four per cent higher than Q1 FY24 and a record for a first quarter; this included 1.6Mt from Iron Bridge.
• Hematite C1 cost of US$20.16/wet metric tonne (wmt) was up 12 per cent on Q1 FY24, impacted by a higher strip ratio in the quarter and inflationary pressures.
• Hematite average revenue of US$83/dry metric tonne (dmt) for the quarter, realising 83 per cent of the average Platts 62% CFR Index.
•Iron Bridge Concentrate revenue of US$111/dmt was 97 per cent of the average Platts 65% CFR Index.
•Cash of US$3.4 billion and net debt of US$2.1 billion at 30 September 2024 after payment of the FY24 final dividend of US$1.9 billion and capital expenditure of US$0.8 billion in the quarter.
•Signed a US$2.8 billion partnership with Liebherr to jointly develop and validate a range of zero emission mining solutions, this includes the supply of battery power systems by Fortescue Zero.
•Works commenced on the Green Metal Project at Christmas Creek.
•Celebrated significant milestone of the Billion Opportunities program awarding more than A$5 billion in contracts and sub-contracts to First Nations businesses, since inception.
•Released an externally verified Climate Transition Plan to reach Real Zero by 2030.
•Fortescue’s Board has elected Dr Larry Marshall as the new Lead Independent Director, effective from the Company’s 2024 Annual General Meeting.
•Guidance for FY25 shipments, C1 cost and capital expenditure remains unchanged.
Record first quarter shipments in strong start to FY25
Summary
• Group Total Recordable Injury Frequency Rate (TRIFR) of 1.2 at 30 September 2024, 29 per cent lower than 1.7 at 30 September 2023.
• Total iron ore shipments of 47.7 million tonnes (Mt) in Q1 FY25, four per cent higher than Q1 FY24 and a record for a first quarter; this included 1.6Mt from Iron Bridge.
• Hematite C1 cost of US$20.16/wet metric tonne (wmt) was up 12 per cent on Q1 FY24, impacted by a higher strip ratio in the quarter and inflationary pressures.
• Hematite average revenue of US$83/dry metric tonne (dmt) for the quarter, realising 83 per cent of the average Platts 62% CFR Index.
•Iron Bridge Concentrate revenue of US$111/dmt was 97 per cent of the average Platts 65% CFR Index.
•Cash of US$3.4 billion and net debt of US$2.1 billion at 30 September 2024 after payment of the FY24 final dividend of US$1.9 billion and capital expenditure of US$0.8 billion in the quarter.
•Signed a US$2.8 billion partnership with Liebherr to jointly develop and validate a range of zero emission mining solutions, this includes the supply of battery power systems by Fortescue Zero.
•Works commenced on the Green Metal Project at Christmas Creek.
•Celebrated significant milestone of the Billion Opportunities program awarding more than A$5 billion in contracts and sub-contracts to First Nations businesses, since inception.
•Released an externally verified Climate Transition Plan to reach Real Zero by 2030.
•Fortescue’s Board has elected Dr Larry Marshall as the new Lead Independent Director, effective from the Company’s 2024 Annual General Meeting.
•Guidance for FY25 shipments, C1 cost and capital expenditure remains unchanged.
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FMG Fortescue metals my No 1 pick in the Comp
Up a bit on last month's finish, but I still am a strong believer in Twiggy and his company.
Certainly good buying at this price whilst under $20.
While Twiggy makes truckloads of profit so do the peasants in proportion.
Up a bit on last month's finish, but I still am a strong believer in Twiggy and his company.
Certainly good buying at this price whilst under $20.
While Twiggy makes truckloads of profit so do the peasants in proportion.
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A warning about the future of Iron Ore mining in Australia from FMG CEO - and why green steel production needs a super kick along
October 29, 20245:28 PM GMT+11Updated 12 days ago
Australia is the world's biggest supplier of seaborne iron ore, accounting for around half of global supply. But the Pilbara grades dug up from the country's west are generally regarded as too low to be turned into steel without using coal.
That means as steel makers decarbonise, they are turning elsewhere for iron ore, which could hit Australia's top export earner, Otranto said at the IMARC conference in Sydney.
Australia risks losing its iron ore dominance, Fortescue CEO says
By Melanie BurtonOctober 29, 20245:28 PM GMT+11Updated 12 days ago
- Summary
- Companies
- Australia faces competition from Guinea mine, green iron projects
- Tough lesson in Australia's nickel industry collapse
- Fortescue presses for more government, industry collaboration
Australia is the world's biggest supplier of seaborne iron ore, accounting for around half of global supply. But the Pilbara grades dug up from the country's west are generally regarded as too low to be turned into steel without using coal.
That means as steel makers decarbonise, they are turning elsewhere for iron ore, which could hit Australia's top export earner, Otranto said at the IMARC conference in Sydney.
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EU is the only one prepared to penalise for carbon emissions, Trump already said he would can net zero, and Dutton wants to follow.
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A warming for io:
Focus on green io and you will price yourself out of the world market that counts
Just look at nickel
