prawn_86
Mod: Call me Dendrobranchiata
- Joined
- 23 May 2007
- Posts
- 6,637
- Reactions
- 7
Nope, already seen a few of them. Just have to dig around a bit. Already a heap of companies with cash exceeding market cap.
think its going to be the first company in history who's income exceeds its market cap...
funny how you didnt answer my original question frank , by the way what date is FMG,s due debt repayment due ? pretty sure theres one due soon
Nope, already seen a few of them. Just have to dig around a bit. Already a heap of companies with cash exceeding market cap.
Nunny I imagine FMG dont need to repay the billions they have used to build this project in the first year of operation, as many seem to think is the case.
Yes there is debt, no arguements here but on the flip side there is also income in US dollars, I imagine the accountants at Fortescue are pretty switched on and contracted replayments are at hand, I have not read otherwise, 600 million in the bank so far which is pretty healthy too. Sorry I didn't answer your original question, cost to produce was answered correctly by someone else. But hey, what do I know, I'm just a simple tradesman
nah m,8 , not saying they have to pay it all back in the first year , just saying im pretty sure off top of head from previous research they due a repayment soon , scrolling thru at present but geez its been years since i looked at there anns and boy havent they had a few sincemight pay to keep in mind around accounts time
tradesmen are what keep australia ticking
Best I could find Nun, doesn't sound too techincal and at best maybe an all to simple guide, by no means claiming this is 100% true or false, taking this on face value only.
"Fortescue Metals. In 2006, it raised $2.7 billion of junk bonds to fund its iron ore project. Since the raising was in US dollars and euros, the debt would equate to $3.2 billion at today's exchange rate.
The bonds will mature between 2011 and 2016, meaning the total repayment is not an immediate liability, but it is paying annual interest of around 10 per cent. "
Good read if you get the chance.
http://business.smh.com.au/business/high-debt-prelude-to-a-hammering-20081116-683i.html
funny how you didnt answer my original question frank , by the way what date is FMG,s due debt repayment due ? pretty sure theres one due soon
They have quarterly interest repayments due on the 1st December on a US$250 Million secured note, calculated at the 3 month LIBOR rate + 4% per annum and obviusly the remaining 2 quarters are on the balance sheet as a current liability. FMG's current liability in their financials (Would have risen considering downward movement in AUD since) was $358,294,000.
Large chunck of debt payable in 2011
Some of their debt interest is tied to a % of revenue. They also have a US$200 Mil Syndicate loan which they've drawn a NIL amount from i guess this gives them access to funds if needed..
They have quarterly interest repayments due on the 1st December on a US$250 Million secured note, calculated at the 3 month LIBOR rate + 4% per annum and obviusly the remaining 2 quarters are on the balance sheet as a current liability. FMG's current liability in their financials (Would have risen considering downward movement in AUD since) was $358,294,000.
Large chunck of debt payable in 2011
Some of their debt interest is tied to a % of revenue. They also have a US$200 Mil Syndicate loan which they've drawn a NIL amount from i guess this gives them access to funds if needed..
Damm, thanks Prawno, point me in the right direction and I'll buy some of those shares...
Just goes to show how messed up the current market is on a serious note.
well well well , you certainly are a fountain of research , well done.... do you hold FMG ?
thanks for your time on it also
No problem.
And yes i do hold FMG I got in at below $1.80 and fully acknowledge their a high risk stock.
I intend to hold long term as IMO they have exceptional potential and to be honest i don't care what happens in short term.
Why Mining sector here has dropped like this?
Champ - I wish you all the best !
If its not the bottom its got to be close - go get em
I dont think I can join you yet though
, fundamentals and charts mean absolutley nothing right now.
What facts have u got that it is close-
why dont we just have a look at the price right now- and lets talk about 15% down day today---------
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?