so i suggest all you doom and gloomers out there look at the fundamentals first, then try and work out a fair entry level.
How about $6.50?
That was a fair entry level put forward 6 months ago.
Of course 6 months ago FMG was trading at $12, so buying $6.50 must have been a bargain, right? After all, FMG ALWAYS goes up after dips, doesn't it? (Except when it doesn't).
$6.50 doesn't seem like much of a bargain any more now that FMG is trading at $2.90.
big buyers moving in or what?
even though its trending side ways?
This all a temporary set back for the IO industry imo. It may take some time, but the rise of Chindia is only part way into the game. Maybe the first day of a test match. Once the recession/depression sorts itself out IO and commods will be back in. So, it's just a matter of time. 2-10 years? Of course, some companies will fail, but it's hard to see FMG totally collapsing, from my armchair. Of course, I hardly know the details of this company, just a pedestrain passing by.FMG is a dead company walking.
Prices keep dropping fast and soon they will get very close to the company costs.
I would think FMG will become a uni study company on how an entrepenuer did not have enough time to succeed with a company before the recession hit him hard.
Hellloo? is anyone in here? This forum looks deserted, just like an abandoned mine.
WBII
This all a temporary set back for the IO industry imo. It may take some time, but the rise of Chindia is only part way into the game. Maybe the first day of a test match. Once the recession/depression sorts itself out IO and commods will be back in. So, it's just a matter of time. 2-10 years? Of course, some companies will fail, but it's hard to see FMG totally collapsing, from my armchair. Of course, I hardly know the details of this company, just a pedestrain passing by.
Where is everyone? They're in bed WB. It's 3.30 am on Sat morning!!
I agree they probably will in the short term.Given the collapse of the automobile industry worldwide, I just can't see how IO prices are going to recover anytime soon.
In fact, I would go as far as to say that IO prices are going to fall further than others, given that most resources are already bumping along at production cost, where IO still has some way to go to get there.
Where is everyone? They're in bed WB. It's 3.30 am on Sat morning!!
That's the problem really though isn't it?I agree they probably will in the short term.
I'm guessing world recovery anywhere between 2-10 years..
So, you think their entire program becomes uneconomical?
I'm trying to work out their assets and it seems in their Ann Report they had $200m in the bank, but $6.8b in liabilities.
Hmmmmm...
That's the problem really though isn't it?
If prices bump into their production costs, then their debt becomes a massive issue.
At this stage, for me, it wont be time to buy until mining companies start going bust. And at least then, you'll know which ones are going to make it.
Not saying FMG will or wont... just saying... But obviously because of their stage as a company, their risks are much higher in survivability terms.
Sorry to rain your parade guys, but unless someone makes a t/o bid this stock is heading lower.
Lower lows, lower highs,
Breaking down through support levels.
gg
i am getting sick of FMG... and am considering selling at 2.50 and getting out all together
this is being a dog of a stock and is just heading in one direction - south
so much for an up day
also with the volume 9m i am starting to beleive a substantial holder is trickling the stocks for sales
look at course of sales for an indication!
seems like there is an unlimited amount of selling!! dog
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