Logo
Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome to ShareScene - Talk Shares And Take Stock With Australia's Sharemarket Community - New Here? Click To Register >

Important Notice For All Members - ShareScene Is Moving

103 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

FMG, FORTESCUE METALS GROUP LTD
blacksheep
post Posted: Dec 2 2018, 01:46 PM
  Quote Post


Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Nov 16 2018, 12:05 PM

Ore grade gamble pays off for Fortescue Metals Group

QUOTE
Ms Gaines said a new high-grade 60.1 per cent iron product, West Pilbara Fines, to be shipped later this month, could attract a premium of $10 a tonne with a negligible effect on costs.

“It’s straight through to the bottom line,” she said.

Fortescue is picking the eyes out of two of its mines to collect high iron ore content for the new product.

Low phosphorous Cloudbreak ore and higher phosphorous ore from Firetail are stockpiled at the mine and every third week railed to Port Hedland and layered in alternating slopes on the stacks

As a reclaimer slices horizontally through the stack to collect ore for loading, the product from the two mines is mixed to keep the level of phosphorous within specification.

The self-styled third force in iron ore plans to ship five to 10 million tonnes of the new product this financial year. Fortescue plans to load the first ore from its $US1.275 billion Eliwana mine in December 2020 to grow production of West Pilbara Fines to an eventual 40 million tonnes a year.

https://thewest.com.au/business/mining/ore-...-ng-b881037152z

However, AFR reports - Iron ore hits a Great Wall
QUOTE
Iron ore prices have tumbled nearly 15 per cent in the past three weeks, and the outlook through 2019 isn't particularly bright.

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2018, 10:53 AM
  Quote Post


Posts: 5,074
Thanks: 2039


FMG's subsidiary, FMG Resources Pty Ltd, holds the title to exploration licence EL 6109 which joins (in part) BHP licence 5941 to the north and west - 5941 is the tenement of BHP's recent copper find.

Interesting article on some of the nearology plays
https://smallcaps.com.au/bhp-rio-tinto-majo...ar-olympic-dam/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 28 2018, 09:59 AM
  Quote Post


Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Nov 27 2018, 07:19 PM

According to an article in The Australian, FMG/Goshawk jv "looks set to be barred from carrying out fracking on at least five of the eight licences it holds in the basin"



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 07:19 PM
  Quote Post


Posts: 5,074
Thanks: 2039


Today's ann to lift the fraccing moratorium in WA may also apply to FMG/Goshawk Energy jv - https://thewest.com.au/business/energy/mark...-ng-b881033600z

QUOTE
Meanwhile, Andrew Forrest’s company Squadron Energy has an 80 per cent share of a joint venture with Goshawk Energy and is has begun airborne surveys over the Dampier Peninsula.

The joint venture was in August awarded three new petroleum exploration licences in the "highly prospective" Canning Basin.

"The Canning Basin has the potential to be a new world-class petroleum province providing long-term energy security for the nation,” Goshawk Energy general manager Andrew Kirk said in a statement.

“We’re very excited to be building such a strong presence in the region.”

Goshawk had undertaken and continues an extensive consultation program in the Kimberley with traditional owners, community representatives and local government, with a focus on building meaningful, lasting local partnerships, the statement said.

https://www.watoday.com.au/national/western...108-p50ewe.html
https://www.abc.net.au/news/2018-11-27/wa-f...k-free/10558892
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 11:11 AM
  Quote Post


Posts: 5,074
Thanks: 2039


SP down 1.56% currently @ $3.79.
Total short positions @ 20 November 2018 = 2.60%
Notable short alert yesterday
QUOTE
26 Nov FMG 21,296,883 3,111,898,450 +0.68%

https://www.shortman.com.au/stock?q=FMG

QUOTE
Iron ore prices collapsed on Monday.
The benchmark price recorded is largest decline in over 189 months. For lower and higher grades, the fall was the largest on record.
Reports of steel mills offloading existing inventory, due in part to a collapse in profit margins, was cited as a catalyst behind the move.
After hitting limit-down and staying there throughout Monday’s day session, Chinese iron ore futures continued to fall in overnight trade. Steel and coal futures bounced.

https://www.businessinsider.com.au/iron-ore...profits-2018-11


Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 16 2018, 12:05 PM
  Quote Post


Posts: 5,074
Thanks: 2039


QUOTE
Fortescue Metals Group chief executive Elizabeth Gaines has confirmed the miner will begin producing its new higher-grade West Pilbara Fines iron ore product from next month.

Speaking at the company’s annual meeting yesterday, Ms Gaines said the new 60 per cent iron product would comprise a blend of ore from Fortescue’s Firetail mine and newly developed areas to the west of its Cloudbreak mine in the Pilbara.

Fortescue expects to begin exporting the product at a rate of between 10 million tonnes a year and 20mtpa, ramping up to 40mtpa as its new Eliwana mine comes online at the end of 2020.

The Andrew Forrest-controlled miner has developed the product in response to widening discounts for its standard lower-grade 58 per cent iron ore in China.

The discounts have been caused by a crackdown on pollution in the country, prompting steel makers to favour higher-grade, less-polluting inputs.

The price spreads across varying grades have been exacerbated in recent months because of high steel mill profitability, allowing producers to afford steep premiums for higher-grade ores.

https://thewest.com.au/business/mining/fort...-ng-b881021365z

Chart upload failed



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 2 2018, 10:49 AM
  Quote Post


Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Oct 30 2018, 02:58 PM

Twiggy buying more shares - increasing his holding from 32.46% to 33.87%
Attached thumbnail(s)
Attached Image



 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 30 2018, 02:58 PM
  Quote Post


Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Sep 24 2018, 10:42 PM

Updated chart - SP up 4.1% currently @ $4.06/share
https://www.shortman.com.au/stock?q=fmg
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 24 2018, 10:42 PM
  Quote Post


Posts: 5,074
Thanks: 2039


FMG got a mention here - https://www.miningnews.net/events-coverage/...ble-to-takeover

QUOTE
Mather said Fortescue Metals Group was the second-most active explorer in Ecuador, with Hancock Prospecting also ramping up activities.

"For Gina Rinehart and Andrew Forrest, copper is the new iron ore."

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 20 2018, 10:57 AM
  Quote Post


Posts: 5,074
Thanks: 2039


In Reply To: blacksheep's post @ Jul 23 2018, 10:59 AM

FMG profit slumps 58pc as China chases higher grades
Reuters
Monday, 20 August 2018 9:52AM
QUOTE
Fortescue Metals Group’s annual profit has slumped 58 per cent, missing estimates, due to declining prices and demand for its iron ore from China.

The world’s fourth-biggest iron ore miner on Monday reported a full-year net profit of $US879 million ($1.2 billion), down from $2.09 billion a year ago, lower than the estimate of $US1.08 billion in a Thomson Reuters poll of 14 analysts.

FMG last year shipped 170 million tonnes of iron ore at a cost of $US12.36 per wet metric tonne C1 cost, a 4 per cent improvement on the previous year.

But revenue fell 18 per cent compared to the previous year, with the drop blamed on high steel mill profitability in China which encouraged use of higher iron content ores to maximise production.

To combat the decline, FMG will introduce a 60 per cent iron content product, named West Pilbara Fines, from the second half of 2018/19 ahead of the development of its $1.3 billion Eliwana mine and rail project.

West Pilbara Fines will be sourced from existing operations and provide customers with a higher-grade product before full-scale production at the higher-grade Eliwana project.

It will initially be produced by blending ore from the Firetail mine with higher iron content ore from newly developed areas to the west of the Cloudbreak mine.

“Development of Eliwana will maintain Fortescue’s low cost position and underpins the long-term production of West Pilbara Fines while providing Fortescue with greater flexibility to capitalise on market dynamics and maintain mine lives,” FMG said.

The miner finished the year with $US863 million cash on hand.

It is tipping exports of between 163mt and 175mt this financial year at costs between $US12/wmt and $US13/wmt C1 costs.

Fortescue declared a final dividend of 12¢ a share, down from 25¢ a share a year ago.

https://www.shortman.com.au/stock?q=fmg
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: early birds  
 
 


103 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING