Rumours Swirl Over FMG Deal
A spark of interest in shares on Fortescue Metals Group (FMG) after Bloomberg reported that Chinese companies were interested in buying a share of the troubled iron ore miners WA assets.
Read MoreA spark of interest in shares on Fortescue Metals Group (FMG) after Bloomberg reported that Chinese companies were interested in buying a share of the troubled iron ore miners WA assets.
Read MoreThe market didn’t like the news from Fortescue Metals’ (FMG) quarterly and June financial year production report yesterday, which contained some promising news on costs and production.
Read MoreFortescue (FMG) shares went for a big run up yesterday after iron ore prices spiked higher overnight Wednesday and the company revealed it had finally got a bond raising away, a month after aborting an earlier attempt.
Read MoreA defiant Fortescue Metals Group (FMG) yesterday claimed that it can continue to generate cash despite the price of iron ore plunging to decade-lows earlier this month.
Read MoreFortescue Metals Group (FMG) founder and chairman Andrew Twiggy Forrest did his best again to wave a big red flag to his creditors yesterday and tell them the iron ore miner’s finances remain strained.
Read MoreFortescue Metals (FMG) shares hit a new all time low yesterday after the embattled iron ore miner abandoned a $US2.5 billion refinancing.
Read MoreYesterday’s big refunding deal from Fortescue Metals Group (FMG) failed to move investors, but when complete in a couple of weeks time, it will go a long way to easing an emerging concern about the company’s debt burden over the next five to eight years.
Read MoreForget the interim results for Fortescue Metals Group (FMG) delivered yesterday and the claimed ‘beat’ on market forecasts.
Read MoreJudging by the tone of yesterday’s commentary from Fortescue Metals (FMG) and senior management, the company reckons it will be able to avoid being forced to write down the value of its WA iron ore mining and export assets.
Read MoreAccording to media reports, Fortescue Metals (FMG) only just broke even in the September quarter as prices for its lower quality iron ore fell.
Read MoreGlobal iron ore prices fell to a new five year low overnight Wednesday, and is looking to go lower.
Read MoreFortescue Metals (FMG), the country’s third placed iron ore miner and exporter has reported record earnings of $US2.74 billion profit for the year to June 30, and doubled dividend payout to shareholders.
Read MoreAt Fortescue (FMG), yes the company missed those market estimates (because of the wet weather, a normal seasonal event in the Pilbara) but the tonnage shipped was still a record.
Read MoreAs was expected, Fortescue Metals Group (FMG) has joined in the dividend surge in the current reporting season, especially from the resources sector.
Read MoreBad weather may have hurt Fortescue’s (FMG) prospects for better than forecast shipments of iron ore in the year to June, but yesterday the company had to ride out a small storm on the market when the nervous nellies took fright at the news and briefly sold down the shares.
Read MoreThe good news from the iron ore sector continued yesterday with Fortescue Metals Group (FMG) revealing a solid rise in production and exports in the three months to June, and an end to mooted asset sales, thanks to a surge of cash in the bank.
Read MoreFortescue Metals Group (FMG) has joined BHP Billiton and Rio Tinto in surprising investors with higher iron ore production and sales for the three months to June and for the 2012-13 financial year.
Read MoreA combination of a weak stock market, the worse than expected early figures from the monthly survey of Chinese manufacturing and a surprising downgrade of its iron ore production target for 2012-13 saw shares in Fortescue Metals Group sold off sharply yesterday.
Read MoreThe surge in Chinese iron ore imports last November and December also helped Fortescue Metals shipped a record 14.77 million tonnes of ore in the December quarter, beating its own guidance.
Read MoreLast week it was Rio Tinto which reported that its WA iron ore business did record numbers in the September quarter.
Read MoreShares in Andrew "Twiggy" Forrest’s Fortescue Metals Group climbed above $7 yesterday for the first time since September 2008 (when it was crashing as the credit crunch bit hard) after it issued an encouraging quarterly report for the three months to December.
Read MoreAnd Fortescue Metals yesterday issued another announcement concerning contracts and shipping arrangements: this time it is reviewing the legal status of shipping contracts that have been suspended or delayed.
Read MoreIron ore miner, Fortescue Metals (FMG) rose as much as 12.5% on Friday after the company has undergone reorganisation of capital where each share has been split into ten.
Read MoreBHP Billiton and Rio Tinto's Pilbara antagonist, Fortescue Metals Group continues to get bigger and more irritating.
Read MoreThis morning Fortescue Metals Group (FMG) requested a trading halt of its shares pending an announcement.
Read MoreFortescue Metals Group rose by as much as 26% today after the iron producer said it made a massive new iron ore discovery in the Pilbara region in Western Australia.
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