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"The 7 analysts offering 12 month price targets for Fortescue Metals Group Ltd (FMG:ASX) have a median target of 307.00, [AUD 3.70 ?] with a high estimate of 930.00 [AUD 11.25] and a low estimate of 170.00 [AUD 2.05]. The median estimate represents a 81.12% increase from the last price of 169.50 [AUD 2.05]."
Fascinating isn't it, lol - in the last 12 months, not one of these analysts has recommended "Sell".
(While it slid from $13.00 to $1.30 - ok back to $2.00 now)
One bloke had the courage to say "No Opinion" lol.
The other thing that I find interesting is that the Universities, with all their economists on staff, have managed to lose a bundle on the market in recent times as well. At least I'm in good company lol
"The 7 analysts offering 12 month price targets for Fortescue Metals Group Ltd (FMG:ASX) have a median target of 307.00, [AUD 3.70 ?] with a high estimate of 930.00 [AUD 11.25] and a low estimate of 170.00 [AUD 2.05]. The median estimate represents a 81.12% increase from the last price of 169.50 [AUD 2.05]."
If a broker will publish its true recommendation in public forum then it will not make any money for its favoured clients. So I do not trust its recommendation in public. They rather create market opinion just opposite to their intention to sell or buy in general,
Goldman Sachs predicted oil to reach $200 per barrel on the same time period when it reached $65
Fascinating isn't it, lol - in the last 12 months, not one of these analysts has recommended "Sell".
(While it slid from $13.00 to $1.30 - ok back to $2.00 now)
One bloke had the courage to say "No Opinion" lol.
The other thing that I find interesting is that the Universities, with all their economists on staff, have managed to lose a bundle on the market in recent times as well. At least I'm in good company lol
Something funny is happening in there and looks they keep hidding the facts or as twiggy always does he is talking that Death Mine Walking (DMW) company up.
Hello 25Mtons, then 22Mtons, then 20Mtons, then 18Mtons, now 15Mtons, next month what 10Mtons?
Same for next year, first 80Mtons, then 55Mtons, probably that will go down to 35Mtons?
Very unreliable business and information, one has to be blind not to see the truth or too twi(cky)ggy
http://business.smh.com.au/business/fortescue-folds-on-shipments-20081126-6iri.html
Herb was affected by the opes prime collapse from memory so it may be that he had to sell some shares....dunno
Also FMG still has contracts with the top 16 Chinese Mills and I think Frank you are right, Andrew has been really friendly with the Chinese and relationships count a lot to them
Here you go SenTinel, the finer points of Andrews trip slowly seeing the light of day., and its all very promising IMO.
On the evening of Nov.24, Zhou Qiang ,deputy of Hunan Provincial Party Committee and governor of Hunan province, met with the senior delegation of Fortescue Metals Group Ltd (FMG) in Australia headed by Andrew Forrest, executive director and CEO of FMG, in Changsha.
FMG is the world's fourth largest provider of iron ore and Hunan's steel enterprises are its clients. This delegation paid a special visit to Hunan to discuss about further cooperation with the Valin Group.
Zhou briefed that, to tackle effects brought by the present international financial crisis, Hunan actively implements the CPC Central Committee's significant decision of expanding domestic demand to promote economic growth by strengthening construction of such infrastucture as expressways and railways so as to ensure stable and relatively rapid growth of Hunan's overall economy. Zhou said steel demand is bound to continuously increase with the further progress of infrastructure construction and the steel market is therefore promising. Hunan supports wide, comprehensive, thorough and stable cooperation between Hunan and Australia and pushes forward bilateral cooperation in such aspects as low-grade ore exploitation and raw ore processing, relying on the world's leading low-grade ore dressing technology of Central South University in Hunan in the hope of making it a successful example of steel cooperation between China and Australia, furthering exchanges between Hunan and Australia and driving cooperation in such fields as tourism, sports, science and technology. Andrew Forrest expressed his gratitude for Zhou Qiang's meeting and said, he was deeply impressed by steady and healthy development of Hunan and was confident of bilateral further cooperation. Chiefs of relevant departments directly under Hunan Provincial Committee of the CPC accompanied the meeting.
Herb was affected by the opes prime collapse from memory so it may be that he had to sell some shares....dunno
Also FMG still has contracts with the top 16 Chinese Mills and I think Frank you are right, Andrew has been really friendly with the Chinese and relationships count a lot to them
Relationship with Chinese really go well.
I have read in history books when I was a student and taking the opportunity to recount it.
In about 1962 India met a friendship treaty with China. Mr Nehru (the first PM of India who was also father of Mrs Indira Gandhi ex PM of India and grand father of Mr Rajiv Gandhi ex PM of INdia).
INdia was not as powerful like today, had a very poor military base and worse infrastructure. It was all good handshakes, MOU etc between Chou En Lai (then Chinese PM) and Nehru Indian PM.
WIthin three months of that treaty China attacked India, literally defeated them and encroached some good areas still under dispute between two countries. To me all is fair in love and war - so do not want to blame Chinese Government in 1962 what did to India. It was a good lesson for India however to wake up.
We are now having an economic war across the world and many of us have learnt lessons !
Regarding contracts with 16 Chinese Mills. I think they are MOU par se. Who has read the contract and its fine clauses to exit from obligation ? If contract is all about guarantee then why FMG terminated so many existing contracts with their suppliers ? What is the guarantee that Chinese Mills will not learn from the lessons taught by FMG ?
Let us not be pessimistic and let us say SHE WILL BE ALRIGHT MATE
No comments on FMG however and world has changed since then.
FMG is the world's fourth largest provider of iron ore and Hunan's steel enterprises are its clients. This delegation paid a special visit to Hunan to discuss about further cooperation with the Valin Group.
History does not determine your future, your actions / planning / diplomacy today do, that folks is what makes your tomorrow. If you think Andrew and his board leaders were over in China for a cup of tea your sadly mistaken.
Hi Frankhalo
Good point and no arguments.
Just watch FMG and its so called relationship with 16 Chinese Mills.
One year from here, please review how many of those 16 Mills really placed or bought iron ore from FMG.
There is always some difference between flirting, just dating and serious dating before a marriage takes place. So what is the level of relationship currently exists between 16 Chinese Mills and FMG ?
I have financial interest on FMG as a shareholders and would like to see you win to prove your point so that I can encash my grand kids inheritance earlier :sheep:
It would have been the world's most expensive cup of tea the FMG shareholders have ever paid for if Andrew and his team went to China just to have a cup of tea unless they are following Tata who produces iron ore, steel, IT, cars, and also make Tea (Tetley Brand) and manage Hotels
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