FMG - Fortescue Ltd

[Frankhalo]

Agro's just a passionate FMG supporter Nunny, BHP and RIO considering mergering up would have drawn a few heckles a few years ago too. Here is one for you, MGX and GBG in say two years time, btw I do tarot cards too.

 

[nunthewiser]

Agro's just a passionate FMG supporter Nunny, BHP and RIO considering mergering up would have drawn a few heckles a few years ago too. Here is one for you, MGX and GBG in say two years time, btw I do tarot cards too.

the mgx /gbg rumour was floating round the traps in geraldton 2 years back .

even got as far as the local paper up there whispering about it ...

i did post about it back then but in another forum/chat

all piss and wind so far m8 , but who knows eh , personally prefer them to take out someone closer to koolan area, anyways.............

 

[nunthewiser]

when i say koolan as in koolan island i mean one of the smaller fish/explorers in the north pilbara area/southern kimberlys

anyways... wrong thread

 

[gav]

Where is Agro ? the great believer of FMG - we are missing you my friend in this forum for some good time .

On serious matter FMG expansion to 90 MTPA is accepting a reality of its capacity and capability and market sentiment

Disclosure : Still holding FMG bought at $7 - just loving them to be a pepper corn value

Mate you could have done much worse, like buying in to MGX. They have fallen over 85% from their all time highs this year!

I am sitting it out at the moment, but for how long, I dont know...

 

[nunthewiser]

Mate you could have done much worse, like buying in to MGX. They have fallen over 85% from their all time highs this year!

I am sitting it out at the moment, but for how long, I dont know...

havent looked at the % fall from high as hold a lot lower than now . is that right 85%?.... by the way whats FMG fall from its ATH?

 

[renim]

story blah blah
BHP hand looks stronger re Ri Tinto, thats good for FMG
Aud is down to 66cents, thats good for FMG
and Hegarty is now on board (rats heading for shore during the storm), seriously, Hegarty is one guy I would keep an eye one, he did wonders with Oxiana in Laos.

The face value of the shares may have fallen, but the dividends look like that will still be strong, I would call this to be a share whose price is depressed by irrational pessimism.
I would go further and say we are witnessing the birth of a new major, or at least a mid tier of the ilk of the old WMC or MIM.

 

[Warren Buffet II]

story blah blah
BHP hand looks stronger re Ri Tinto, thats good for FMG
Aud is down to 66cents, thats good for FMG
and Hegarty is now on board (rats heading for shore during the storm), seriously, Hegarty is one guy I would keep an eye one, he did wonders with Oxiana in Laos.

The face value of the shares may have fallen, but the dividends look like that will still be strong, I would call this to be a share whose price is depressed by irrational pessimism.
I would go further and say we are witnessing the birth of a new major, or at least a mid tier of the ilk of the old WMC or MIM.

Dividends? from where? They will have a huge loss in the coming years.!!

Maybe they will raise some money through more preference shares and then pay some divds

WBII

 

[Miner]

another roller coaster on Friday
http://business.smh.com.au/business/fortescue-forced-to-revise-freight-contracts-20081016-52ck.html

 

[chops_a_must]

another roller coaster on Friday
http://business.smh.com.au/business/fortescue-forced-to-revise-freight-contracts-20081016-52ck.html

Ha!

"Fortescue forced to revise freight contracts

* John Garnaut
* October 17, 2008
*

FORTESCUE Metals has been forced to renegotiate iron ore delivery contracts with some struggling Chinese customers, as plunging steel prices push higher-cost steel mills to crisis point."

And weren't us "down-rampers" told this was all nonsense and wouldn't affect FMG?

 

[gav]

havent looked at the % fall from high as hold a lot lower than now . is that right 85%?.... by the way whats FMG fall from its ATH?

MGX's 52wk high is $3.78

$3.78 - 85% = $0.567 (MGX's current SP is 0.55)

FMG's 52wk high is $13.15

$13.15 - 75% = $3.28 (FMG's current SP is $3.23)

So have all those who criticize Agro and the like for holding all the way down from FMG's highs been to the MGX thread to criticize them too?

 

[nunthewiser]

MGX's 52wk high is $3.78

$3.78 - 85% = $0.567 (MGX's current SP is 0.55)

FMG's 52wk high is $13.15

$13.15 - 75% = $3.28 (FMG's current SP is $3.23)

So have all those who criticize Agro and the like for holding all the way down from FMG's highs been to the MGX thread to criticize them too?

no actually , i critisize ppl for posting fanaSy storys instead of facts , darl , and agro sure likes to tell a good fairy tale , couldnt give a hooot about anyones holdings ,........

 

[gav]

no actually , i critisize ppl for posting fanaSy storys instead of facts , darl , and agro sure likes to tell a good fairy tale , couldnt give a hooot about anyones holdings ,........

Well as someone else said, 2yrs ago you would have called someone crazy for suggesting a BHP/RIO merger....

I never named you as down ramping on FMG, but there are a few here that have. And I was just suggesting that they should go MGX bashing instead. Good luck with your MGX holdings...

 

[Bushman]

Hegarty is now on board
but the dividends look like that will still be strong

Err Hegarty has done well getting mines on line but presided over the merger with Zinifiex - not too flash given zinc has tanked and Zinifex had bought Allegiance at the very very top of the commodities market.

Dividends? You must be joking. Also miners typically pay low dividends - rather they re-invest cashflow. It is a high risk, capital growth story, not a yield play!

Having said that, they have built infrastructure that could not be replaced in today's market and their exploration efforts have been top notch.

I think at these prices they are ripe for a takeover once credit markets start to settle down. Chinese steel mills will be licking their lips as a few of them are struggling and would love to lock in long-term supply as a hedge against the Rio/BHP/Vale oligopoly. My 2c

 

[treefrog]

main battle on now at $3 S/R level will decide significant up or down from here for my...........................

 

[Miner]

no actually , i critisize ppl for posting fanaSy storys instead of facts , darl , and agro sure likes to tell a good fairy tale , couldnt give a hooot about anyones holdings ,........

Hi Bud

Your spellings are par excellence

I normally cut and paste the sentence in Word and run a spell check if I am unsure what I am writing and making sure that others can understand my writing too.

Any way back to FMG sordid story

 

[Sean K]

Hi Bud

Your spellings are par excellence

I have been keeping track of posts containing the bestest grammar and that one is streets ahead.

Into the ASF Hall of Shame.

 

[nunthewiser]

Hi Bud

Your spellings are par excellence

I normally cut and paste the sentence in Word and run a spell check if I am unsure what I am writing and making sure that others can understand my writing too.

Any way back to FMG sordid story

ROFLMAO!!!!!!.......hahahahahaha "Your spellings are par excellence"


ONYA DARL ! .gotta love a moonbeam!

 

[Frankhalo]

Ha!

"Fortescue forced to revise freight contracts

* John Garnaut
* October 17, 2008
*

FORTESCUE Metals has been forced to renegotiate iron ore delivery contracts with some struggling Chinese customers, as plunging steel prices push higher-cost steel mills to crisis point."

And weren't us "down-rampers" told this was all nonsense and wouldn't affect FMG?

And now for the real story for a change:

FORTESCUE Metals Group says it is not renegotiating any iron ore delivery contracts.

The Perth-based miner also added it was shipping every tonne of ore it can produce to its customers in China.

While the miner’s larger customers arrange their own shipping, Fortescue ships ore for its smaller customers and a report today said some Chinese mills were seeking to have the freight rates they are charged reduced.

“Fortescue has not renegotiated any delivery contracts to China, we are selling every tonne of ore we can produce,” a spokesman for Fortescue said.

“We are always talking with our customers, but there is no formal renegotiation of any contracts.”

 

[Joe Blow]

Just a reminder to everyone to please link to the original article when quoting from other sources. It is important that people be aware of where others are sourcing their information from.

Also, please familiarise yourself with what you are allowed to reproduce on a forum like ASF by reviewing this thread on respecting the copyright of others.

With regard to this thread in particular can we please stay on topic and drop any personal attacks/references. This thread is starting to become a little emotional and as a result the usefulness of the information being posted is beginning to diminish somewhat.

Please ensure that your posts contain some useful/meaningful information (news, analysis or related information) that will be useful to others reading this thread.

Thank you all in advance for your co-operation.

 

[MRC & Co]

I have been keeping track of posts containing the bestest grammar and that one is streets ahead.

Into the ASF Hall of Shame.

And this has to be a hall of fame/shame thread.

If ever I have seen a perfect depiction of emotions from bullmarket to bearmarket to crash cycle, this is it. Next time I start analysing the psychological reasoning behing T/A, this is the first place I will come.

A lot of people could learn a lot of things from this thread, if only they stood back and looked at it objectively. Excitement, greed, told you so, averaging down, doubt, hope, fear, married to positions, panic, anger, dispair, hopelessness, hope. I think it goes something like that.......