Notice the childish remarks? Because we point out the fact that he took his eyes off the ball "we hate him". They can never argue on points presented so they come out with their one liner smart alec replies that only shows their own ignorance. And Farmboy, you know I have argued what I posted on this site for years. It is nothing new.
Alleronin, you have to give Nev his due. He could see two years ago where the price of ore was heading (never mind what he said in public) and hence pushed on with the expansion. But more importantly, he went to the USA , renegotiated and pushed out the debt repayment schedule. That was pro active. The other cost cutting measures he has put in place are also a big plus.
As far as the infrastructure, it is still there. If iron ore prices stay where they are, they will either have to sell it or do a capital raising.
For the infrastructure they could put into a trust and sell the units to FMG share holders. If they made the returns attractive enough, it would be a win win situation. Share holders would get a high dividend yield asset and at the same time the gearing in the company would be greatly reduced. Hence benefiting share holders again
Pear
AGO Price at posting:
20.7¢ Sentiment: None Disclosure: Unspecified
RIO Price at posting:
$58.61 Sentiment: Buy Disclosure: Not Held
FMG Price at posting:
$2.79 Sentiment: Hold Disclosure: Held
