FMG - Fortescue Ltd

[Frankhalo]

ROFLMAO .ya got me .i vowed not to post here again then that funny gag made me have to .....
LOL dear rampers .. um the fact of thew matter IS FMG made a massive loss no matter how many gigatons they shipping dears.
MGX made new rtecord breaking profits .
ya just dont get it
um dont matter how big or small the bizzness is , ITS THE BOTTOM LINE THAT COUNTS
make losess long enuff and ya fold .SIMPLE girls and boys
MY point was re post earlier WAS mgx makes money and cash flow positive .
fmg DOESENT .

might hire a translator next time

and seriously IF you guys still dont get my drift after ALL my posts here re debt , contracts , profits ,losses well good luck to yas it cements my view earlier regarding the fact syndrome

anyways please dont compell me to reply by giving me a giggle again and i promise just to read and not post in this thread

lol gawd bless oztrailia is all this nun got left to say

Guess we will have to revisit this post in Sept 2009 with some figures for you Nun. Last time I checked FMG doesn't stand for Free Minerals Group, said it before and I'll say it again, product going out, funds coming in, sounds like a good business model to me. May 15th 2008 start up, you must have missed that part...

 

[2020hindsight]

Nothing has changed ??

I'll give a couple of things that have changed for FMG
1) AUD

Warren
Is AUD fall good or bad (in medium term?)
I would have thought neutral if not good

PS big assumption on my part - that contracts are in USD or CNY

 

[chops_a_must]

Warren
Is AUD fall good or bad (in medium term?)
I would have thought neutral if not good

PS big assumption on my part - that contracts are in USD or CNY

Depends if the delivery contracts are to be paid in AUD or not. The long term ones that is.

It also depends if they have a lot of foreign denominated debt.

No-one seems to know, so who knows 2020?

They seem to have massive debt to me, so falls would be classed as bad without knowing further.

 

[2020hindsight]

No-one seems to know?

.. lol - blind leading the blind here. Just wish I'd stayed in cash .... lol
FMG has been a major dent in my finances

but hey - I still believe in their long term future.
and that they'll turn around.

Will I live that long? - hey who knows? lol.

 

[renim]

At a wild guess, I would say iron ore contracts are in US dollars (as is oil, copper, coal, gold, etc) if they were not in US dollar then they would be in a Chinese centric currency basket, they will not be in AUD.

I was recently reading an article on the coal spot price, it has dropped significantly, but not as much as the Aud has, so the coal miners are sitting on a pleasant price increase.

This also makes a natural hedge within FMG, if debt is in US and sales is in US, then all up, there is a cancelling effect. Actually they should hedge against the aussie dollar rising as sales should be planned to service the debt, so if they are unhedged, then they are 'in the money' so to speak.

 

[nunthewiser]

Depends if the delivery contracts are to be paid in AUD or not. The long term ones that is.

It also depends if they have a lot of foreign denominated debt.

No-one seems to know, so who knows 2020?

They seem to have massive debt to me, so falls would be classed as bad without knowing further.

, i woulda thought the holders would know the answers to these but alas , seems they dont read and want ppl to point the way


all you holders read page 1 of ann dated 14/08/06 contains DEBT and the demonination it due to be paid in and what dates

page 1 ann dated 21/08/06

the debt/cap raising /currency anns are mixed up allthrough the pretty anns too
then if you need more after that and i dare say it would be wise to read , i suggest you guys do ya own research for a bleedin change instead of relying on NON holders to do it for ya

avaniceday


ps or would you prefer me to cut and paste every ann here instead of you guys having to go to the trouble of finding the anns ?

 

[nunthewiser]

sorry if my last post sounded harsh , just pointing out that the answers have been there alll along as i stated further back in this thread and would of thought by now someone would have looked for themselves.

 

[2020hindsight]

ok ntw,
you win...
but bottom line is that their contracts are (as I guessed ) in USD, and some of the posts back there seem pretty inaccurate as a result

 

[nunthewiser]

ok ntw,
you win...
but bottom line is that their contracts are (as I guessed ) in USD, and some of the posts back there seem pretty inaccurate as a result

not my posts tho

might wanna have a squiz at them contracts too m8 . the wording dont actually give a definative price on what they will recieve excdept for the market price at that time sorta thing .= they could actually fall
my post regarding contract prices are in regards to WISCO agreement 1/12/06 and i think theres another i skimmed , based on the yearly negotiated price =if negotiation price drops for that year thats what they get,

anyways..... will leave ya too it now ,thanks for reading it 20/20

 

[cruise61]

Well i hope all the sceptics are holders and sell big this week so i can come in and increase my FMG portfoilio at rock bottom prices.

Basically stop winging about hear say if your not sure get rid off the stocks,drop the buy price and let me make some good money :0)

They spend nearly 3 billion building a company have just started operations and all you want instant millions.

They are an amazing long term investment opputunity so either jump on board or get in the life raft and sail away .

Ohh and yes i do have shares and yes i have done my research , what i havnt done is seen any reason to be negative about FMG on this forum .

My advice dont listen to poor researcehs on this thread , do your own research and at least give them a year to operate .

Roll on monday ,let the ride begin )

 

[gav]

More buyers than sellers at the moment, been a little while since we've seen that....
.

 

[adobee]

I dont think that anyone can really predict what is going to happen. .. and speculation is just speculation .. I have kept buying FMG as I think it is much riskier than BHP but at the same time has alot more upside for bigger returns.. there is the potential for 460% return on my 2.80 back to its highs buys compared to by buys of bhp which I might get 100%..
anyway good luck to all who hold and all who dont ...

 

[gav]

Why did FMG go into pre-open just before?



.

 

[sanj]

I didnt see it go to pre-open...but if so could be releasing their quarterly results...only guessing though.

 

[treefrog]

needs to hold that 62% support level or its back to the sick bay for mine.............................

 

[agro]

needs to hold that 62% support level or its back to the sick bay for mine.............................

what's a good price to buy in treefrog..

i want it at around 2.50 but don't think it will make it..

 

[mfp]

I recently bought FMG just below 4, sold 4.23, bought back Friday 2.77, sold today 3.06, and just bought back 2.84, now 2.90...hoping for a close above 3! :

 

[cruise61]

I recently bought FMG just below 4, sold 4.23, bought back Friday 2.77, sold today 3.06, and just bought back 2.84, now 2.90...hoping for a close above 3! :

done well ,just be carefull not to short sell and miss out , damn if it gets to 2.5 you wont be the only one buying 3.00 seems a good price for me i got this morning so will sit on that for a bit

 

[agro]

done well ,just be carefull not to short sell and miss out , damn if it gets to 2.5 you wont be the only one buying 3.00 seems a good price for me i got this morning so will sit on that for a bit

no wonder the volume is 15 m +

i am waiting for a good entry , 2.50 i would like it.. has to drop past the 2.80 first

 

[treefrog]

what's a good price to buy in treefrog..

i want it at around 2.50 but don't think it will make it..

hard to see this rate of fall reversing quickly agro, needs some very good news to pull it up.
agree with your 250 level (good S/R - at least as good as any on the chart; this baby is full on whichever way its going)
It was primed for a correction from the $6 level - that it kept going to $13 has made the correction much more brutal.
Possibly a staged entry strategy if you don't want to miss the low (whatever it turns out to be)
If you determine probable turn to the downtrend (ie say a strong S/R line)
1/3 of total stake at that level, next third at either 5%+or- and last third only if it keeps going in the same dirrection - if moving up then at +10%.
then apply S/L to total averaged entry.
if you were right you have entered in 3 stages for a higher ave price but much less risk than an all in and fail entry.
if the price continued down, your entry will be averaged down and given youself more time to assess things and decide to execute your stop.

strategy would be the same if you decide your entry trigger was say $2:70 in this case.
I note the so called "acid test for this share" the current ratio is only .72 which indicates more liabilities than assets and no prospects of dividends into the foreseeable years - these likely to be helping drive prices down in big bear run like now