FMG - Fortescue Ltd

[Ferret]

The thing that puts me off this, unless extraordinarily cheap, is Twiggy's propensity for woke projects, instead of sticking to vote profitability.

Yes, he has torched quite a bit of capital with pie in the sky green energy projects.

I take some solace from the fact that he will shut down a project when it becomes apparent that it is failing.

 

[divs4ever]

The thing that puts me off this, unless extraordinarily cheap, is Twiggy's propensity for woke projects, instead of sticking to vote profitability.

I'd prefer to back Gina at this stage, if I could... Alas, not possible.

The large diversifieds or smaller, focused miners appeal more at this point.

yes , the key for me is 'cheap'

it is not the 'woke ' or even 'green' that concerns me , it is the expenditure on new technology ( and research ) when the global economy is liable to contract

cutting/bleeding edge technology is called that for a reason .. investors are often hurt badly

and yes again , i hold a selection of miners big and small , some operate inside Australia and also some operate in Asia , some of those smaller miners have crazy ( compelling ) metrics

 

[divs4ever]

Yes, he has torched quite a bit of capital with pie in the sky green energy projects.

I take some solace from the fact that he will shut down a project when it becomes apparent that it is failing.

from memory he didn't have a great success on nickel either

shut-down or moth-ball ? ( i suspect moth-ball until better ideas arrive )

 

[TimeISmoney]

yes , the key for me is 'cheap'

it is not the 'woke ' or even 'green' that concerns me , it is the expenditure on new technology ( and research ) when the global economy is liable to contract

cutting/bleeding edge technology is called that for a reason .. investors are often hurt badly

and yes again , i hold a selection of miners big and small , some operate inside Australia and also some operate in Asia , some of those smaller miners have crazy ( compelling ) metrics

The thing is he'll pay for it, while the other competitors will learn from his mistakes.

My grandmother used to say, when you're the first to do something you make walking the path easier for others, as you've walked through all the prickle patches first. Twiggy is like one of those old draught horses with the blinkers on, so focused on what's in front of him but not reading the environment around him.

If I get close to my buy-in price, I'm never looking back and sure as hell glad that I didn't keep buying down into this mess, as other buys have been very profitable and this one a dismal fail. The SP might take off again, but it's going to be years before you see big gains with the price of IO.

If he were smart enough to diversify into gold and copper, he would have had enough to do anything he wanted to do.

 

[divs4ever]

The thing is he'll pay for it, while the other competitors will learn from his mistakes.

My grandmother used to say, when you're the first to do something you make walking the path easier for others, as you've walked through all the prickle patches first. Twiggy is like one of those old draught horses with the blinkers on, so focused on what's in front of him but not reading the environment around him.

If I get close to my buy-in price, I'm never looking back and sure as hell glad that I didn't keep buying down into this mess, as other buys have been very profitable and this one a dismal fail. The SP might take off again, but it's going to be years before you see big gains with the price of IO.

If he were smart enough to diversify into gold and copper, he would have had enough to do anything he wanted to do.

iron is a tough game , and worse still he is competing against giants BHP and RIO in the same geographical area , so they are more likely to buy any new quality discoveries , that FMG could acquire to upgrade efficiency , Twiggy did try adding nickel plays but that seems to have ended badly or did that just stall

 

[basilio]

, Twiggy did try adding nickel plays but that seems to have ended badly or did that just stall

Everyone got burnt with Nickel. The development of the Chinese funded cheap Nickel projects in Indonesia has mothballed many Australian projects