By: castleofeyre
6 days ago (Wednesday, 8:54 pm) Yahoo! Profile:
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so obviously now is a good time to BUY, esp mining stock!
me,i prefer to invest in land,because values may go up and valus may go down but at least im left with something solid at the end of it.I dont mind if the % rates go down either,cause thats the best time to lock in a long term low % loan and i think you'll find most people can see the sense in that. |
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By: tackleberry15
6 days ago (Tuesday, 11:00 pm) Yahoo! Profile:
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hi all
Am I an investor. Hmmm. Not really but im debt free, earning around 3k a fortnight and looking at this current market and waiting for the bulls to take charge a little.
I read a news report on Etrade that FMG wish to expand the port to include a second port operation with associated rail links to their second yet bigger mine (the name escapes me right now).
The most important part of this report is that for this fin year they had received cash payments of $800 mil for the tonnage they have moved and announced that any future expansions would be funded from cash flow not debt.
Due to the financial crisis all the mining stocks have been hit extremely hard. FMG shares closed around the $5.00 mark |
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By: darkie_333
30/09/2008
9:47 pm Yahoo! Profile:
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| Just love the thought of breaking even in this exciting market |
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By: seabirdauau
30/09/2008
9:28 pm Yahoo! Profile:
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Extract from Special AGM:
"Following approval from members for the amendment to the constitution, Fortescue will
proceed with the processing of the subscription for A$140 million in preference shares
as advised to the ASX under the release dated 29 August 2008. The key terms of these
preference shares are listed below;
ô Dividend coupon rate of 9% fixed p.a. payable six monthly either in cash, or where
cash distributions are not able to be made by Fortescue, additional preference
shares or ordinary shares (calculated on the basis of the volume weighted average
share price) as elected by Fortescue;
ô Term of 8.5 years;
ô Redeemable by Fortescue at any time subject to minimum 30 days notice;
ô Preference shares to rank in priority to Fortescue's ordinary shares on a winding up
and in relation to the payment of distributions; and
ô Limited voting rights in accordance with the rights outlined in the Notice of Meeting." |
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By: castleofeyre
30/09/2008
9:43 am Yahoo! Profile:
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| are u guys investors or what?! debt is debt.expansion is expansion and profit is profit.how do most companies make money in the first place? you have to spend some to make some,and if the investment is calculated to the lowest possible amount of risk,ie feasiblity studies beforehand[esp where mining exploration is concerned]any monies put up can only be a sound investment,and at the risk of repeating myself,if some of you used your available time to research whats going on on the EYRE,you would have a clearer picture of it being the best area for ANY mining company to consider,providing they dont get trampled by the quickly gathering stampede. |
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By: seabirdauau
30/09/2008
9:16 am Yahoo! Profile:
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tackleberry your question of 5th August asked:
"I agree with the last comment. Maybe investors are starting to realize that FMG will pay sweet F.A as a dividend when they announce their financial results."
and I responded with :
"It was never in my mind that FMG would pay an initial dividend from operations to date. Talk is for a move into NZ, further areas nearby current operations and even to gobble-up some neighbours. All this before a pay down of debt?
Anyway investors should be very pleased with their capital gains and not even consider a whinge at no divvy.
I still hold little faith in the future of Twiggy and his operations." |
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By: wolframtrader
30/09/2008
3:48 am Yahoo! Profile:
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| tackles, dependent on the "expansion" plans of course...there has been talk that Twiggy wants to use some/part of his free cash flow to fund his next expansion... |
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By: tackleberry15
29/09/2008
7:36 pm Yahoo! Profile:
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| thankyou seabird. So taking the bond and debt issues out of the equation. Fortesque is a cash positive business. Lets hope they pay off some of their debt. |
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By: bentom16
29/09/2008
6:06 am |
Message deleted. Reason: Breach of terms of service |
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By: seabirdauau
27/09/2008
9:09 am Yahoo! Profile:
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The accounts show approximately eight weeks of operations covering the early
commissioning stages of the business resulting in a trading profit of A$72 million. This was
generated from sales and shipping of 1.66 million tonnes of ore exported to end June 2008
which contributed to revenues of A$201 million. |
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By: castleofeyre
27/09/2008
1:28 am Yahoo! Profile:
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| war or wars...A rebuild company that went into Iraq,is 30% owned by Rumsfield! a fact a lot of people are unaware of.Funny how he was the one so adamant about invading that country in the first place.well he might not be in politics anymore,but you can be sure his company has made a lot of money. |
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By: tackleberry15
27/09/2008
12:14 am Yahoo! Profile:
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Hi All.
I have had a quick look at the financials and can't quite understand what they all mean. Im trying to find the initial operationing profit(loss) i.e Money received from the tonnage shipped against the cost of production per ton. I initial conclusion is that fortescue made a cash profit of 70 million upto june 30. Can anyone else do the calculations and verify this.
I have noticed the 2 billion dollar loss incurred from the bond revaluation but im not really interested in including that figure. What im hopeing to find is that the day to day mining operations are making a cash profit even off these initial production tonnages. And therefore gain some impression of future profitability once volumes are increased.
Can anyone shed some light on this for me? |
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By: samasher@ymail.com
26/09/2008
11:40 pm Yahoo! Profile:
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| Don't mention the war"(Faulty Towers) |
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By: castleofeyre
21/09/2008
12:15 am Yahoo! Profile:
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| thats a bit unfair on the Germans!,almost like saying that New Zealanders are just waiting for the Indonesions to invade Australia[for its minerals of course, and dont forget there are 250 million of them],so they can teach them all to speak the Queens english and show them how to work hard. |
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By: samasher@ymail.com
20/09/2008
5:19 pm Yahoo! Profile:
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| Yes there is a rise in those nations China and India particularly..the thing is I think once Germany gets a sniff they won't let go of it. They will control through whatever is required maybe a return to protectionism. |
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By: seabirdauau
20/09/2008
2:33 pm Yahoo! Profile:
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"..(The U.S government is not a bottomless pit of capital.."
Too true however it is quickly becoming a bottomless pit of debt?
Europe you say? Maybe so but not for long for we have the Chinese, Indian and Arab Oil forces quickly rising. |
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By: samasher@ymail.com
20/09/2008
2:07 pm Yahoo! Profile:
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| THe U.S as we know it is about to collapse...my advise get out of Fortescue. The E.U will become the dominate force in the world namely Germany, lets just say its in the wind..(The U.S government is not a bottomless pit of capital) |
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By: seabirdauau
20/09/2008
9:17 am Yahoo! Profile:
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Not a trading loss tho'. However this is an extract from the Report Announcement that looks "Double Twiggy" to me?
"..The other key feature of the accounts is the adjustment to the Leucadia subordinated loan
note. Under accounting standards, the note is required to be revalued each reporting period
to reflect the total expected interest payments over the 13 year note term calculated as 4%
of revenue net of government royalties. Given improved variables since the last report (1/2yr
2008), Fortescue has adjusted the note to reflect higher iron ore prices, a lower AUD/USD
exchange rate and higher forecast sales tonnages building to 160 million tonnes per annum
over the note period out to 2019.
The effect of the revaluation is a A$3.46 billion adjustment to the profit and loss account
which, after a tax adjustment, results in a net loss for the year of A$2.8 billion. This âpaper
lossâ reflects the total expected interest payable to Leucadia out to 2019, but noting that the
actual interest will only be paid at six monthly intervals after the tonnes have been shipped
and revenue determined. Notwithstanding, the revised note valuation in the 2008FY
Accounts is the Companyâs best estimate of the likely future payments based on the
abovementioned variable assumptions agreed with Fortescueâs auditors..." |
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By: wolframtrader
20/09/2008
2:41 am Yahoo! Profile:
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Iron ore miner Fortescue Metals Group has reported an annual bottom line net loss and said it will not provide a forecast for the current year because this may prejudice âthe interests of the companyâ.
What a reputable company this is... what about the interests of the shareholders...oh...looks like the majority of them have spoken...the minority can just swing in the wind... |
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By: castleofeyre
20/09/2008
12:11 am Yahoo! Profile:
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Ah true,'water water every where but not a drop to drink' which is why in the not too distant future the EYRE peninsula will soon become the next'foodbowl' of AUSTRALIA!
With your great advertising ability,you are equipped to promote,[how much does F pay you by the way?],that its very evident that the next desalination plant will be situated apropiately on the EYRE coastline,thereby servicing agriculture and mining along with securing SOUTH AUSTRALIAS position as the new boom state.21 mines already coming into production from now and 2011 as a result of the PACE iniative,6 of those all within 200 km of CEDUNA,[the next BOOM town]Hats off to the SOUTH AUSTRALIAN government.Just try and keep the royalties at a reasonable level,ok guys?! Remember its incentives that inspire investment.
For Seabird only;
A bit of vinegar and brown paper will help the lumps! |
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By: seabirdauau
19/09/2008
2:21 pm Yahoo! Profile:
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| Fortescue 2008 Financials are now available on the Company's home site. |
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By: seabirdauau
19/09/2008
2:15 pm Yahoo! Profile:
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So sorry grandma you took my comments outside of the jesting in which they were framed.
The lumps on my head do not come from walking this earth blindfolded but rather from the protrusion of massive brain cells!
The coast of the Eyre Peninsular is marvelous country however I reaffirm my thoughts on your mineralogical loaded interior - just dust and in need of water - very similar indeed with our Pilbara but without the extensive mining operations? You are conversing on the Fortescue site hence my suggestion of you taking Twiggy away from us (please). |
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By: castleofeyre
19/09/2008
9:04 am Yahoo! Profile:
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| your very obvious lack of knowledge of the mineral content of the eyre peninsula is laughable.also i am not 'a man'.i am in fact a 58 year old self determining grandmother,who was brought up to think outside the square.the'castle'as mentioned will be the home of the scientific research station which my german scientist husband and i intend to build out of the local stone which is already quarried hevily on the eyre.along with gypsum and jade and iron ore.its also obvious that on your'visit' there you must have walked around with your eyes closed which is probably why you have such a big lump on your head! |
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By: seabirdauau
18/09/2008
3:31 pm Yahoo! Profile:
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Surely "Man with Castle in Eyre Peninsular" you do not want Twiggy digging in your back yard?
Been in that area several times and taking away the fishing there is little else left other than unwatered dirt.
Good on you if you can sell your diamonds to the Western Australians : but count me out. |
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By: castleofeyre
18/09/2008
11:47 am Yahoo! Profile:
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| maybe fortescue should think of investing in SA.there is still a lot of unexplored mining territory.i myself have a huge acreage on the eyre peninsula just waiting for an astute mining company to drill and explore.it lies directly on a structural diamond line extending out from the centre of the eyre peninsula and ending at flinders island where diamonds have already been found! |
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