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Of course when he gets the size dividend cheques then $100 mil is a drop in the ocean.
Of course when he gets the size dividend cheques then $100 mil is a drop in the ocean.Found the information on the larger Twiggy share buys of FMG on the open market. He has regularly bought into the market when he believes it has been badly oversold and represents excellent value.
Contrarian Twiggy tops up on sold-down FMG, sets nickel tongues wagging with Mincor trades
Plus, market’s brutal response to Red 5’s production downgrade ignores the bigger game. It is a good time to be boldly looking beyond the current vapourisation of equity values in response to the coronavirus pandemic to secure what with time, will (hopefully) be seen as astute pick-ups.Mind you...www.livewiremarkets.com
FMG (ASX) twiggy buys $100m fmg shares
Andrew Forrest's share buying spree fortifies FortescueMICHAEL BENNET From: The Australian September 17, 2011 Andrew Forrest, chairman of Fortescue Metals...hotcopper.com.au
Andrew Forrest buys up more FMG shares
The value of FMG shares have fallen by around 48 per cent this year, and Andrew ‘Twiggy’ Forrest stepped inwww.australianmining.com.au
Sad indeed... Not being mean here but I came across this story which analysed Twiggys jump into iron ore in 2002 and the value that has accrued since.Twiggy learnt th hard way with the failed (I think it was Annaconda) all those years ago. Kept his head down and low profile for some time and popped up with FMG, "the new kid on the block" and now it shows he is thinking far and wide outside of the square.
Only wish I had had the foresight to buy in at 1-2c a share way back then. He was telling all and sundry to get on board for the ride of a lifetime.
He cetainly had the bayers of his blood at his heels for some time. Plenty wishing him failure and success.Sad indeed... Not being mean here but I came across this story which analysed Twiggys jump into iron ore in 2002 and the value that has accrued since.
At the same time be aware the success of FMG was not a given. There were many huge challenges along the way. It didn't just happen. Hindsight is always so much easier.
Fortescue’s Successor? - Fat Tail Daily
It was the year 2002… But it may as well have been 2022, the similarities are so striking… Any of the following ring any bells?www.dailyreckoning.com.au
He did a huge huge bet with interest rates as he was well the company was emdebted to the hill..with rates going down down down, it was an amazing success.He cetainly had the bayers of his blood at his heels for some time. Plenty wishing him failure and success.
Ah hindsight, if only it could be bottled and then brought out when needed.
That's a fair summation.. in part. From a basic iron ore operational POV I believe FMG will stay profitable for a long time. The renewable energy investment to date has already paid dividends in terms of reducing ongoing operational costs for the iron ore business. These savings will continue indefinitely , go to the bottom line and make FMG even more competitive.He did a huge huge bet with interest rates as he was well the company was emdebted to the hill..with rates going down down down, it was an amazing success.
Was a gamble, he won, other circumstances would have been a disaster.often the case with mining stocks where he has been outstanding is the management of operational side.obviously,iron ore is as simple as can be in mining as very few post dig processing required, so more a logistic issue but he did very very well
Infrastructure is in place, io price will fall but FMG can still output for decades, this is not coal or copper, as abundant as can be resource.
The real danger for him will be political: taxes, Voice pushed royalties, bad image so his green washing of the FMG name at very limited cost ..I know I am a hater, this type acting to be actually self sufficient instead of talking for a decade about it ....
FMG only other option would be to purchase mines OS and move HQ as well .
Time will tell how it ends.
My experience is that the woke is never satisfied so not sure the greenwash will be enough.
FMG is a good /great business, so what is the good SP.
I had a good entry but my entry sl exited in the same week and I never reentered again.not in position to do it now anyway and not one I would do for a short medium term stable investment
I agree the energy projects won’t earn the same margins as Iron Ore, but we really don’t need them to, you can build a fabulous energy business with 15% return on capital, especially if 70% of that capital is coming from long term 8% Bonds, leaving the rest of the profit margin to the equity holders.That's a fair summation.. in part. From a basic iron ore operational POV I believe FMG will stay profitable for a long time. The renewable energy investment to date has already paid dividends in terms of reducing ongoing operational costs for the iron ore business. These savings will continue indefinitely , go to the bottom line and make FMG even more competitive.
I fundamentally disagree however with your take on the bigger renewable energy projects. I think the judgement call by Twiggy that this is the urgent direction of the future is correct. We will have to wait and see how much operational and financial success this creates for FMG. Objectively I can't see how the energy play will have the sort of huge margins the iron ore business has developed. But that doesn't mean it can't be successful and turn a decent financial result.
As far as criticism from the "woke" ? Again for a start I totally reject that label . Recognising the reality of global warming as well as the intrinsic merit of having a clean renewable energy system is simply good economic/environmental sense and the recognition that global warming has to be dealt with.
But that is not news to you Qfrog. You have made it very clear that on a personal level you see a clean, independent energy supply as very important to your future. That same decison has been made by many other posters on this forum (myself included) .
I find it annoying when people say things like that when people make charitable donations, it’s like they are trying to down play a persons gift.Nice tax deduction
Capitalism gets a lot of trash talked about it, but this is capitalism at its Best, I think Andrew seeded FMG with about $4 Million, but over the last 20 years FMg has -It's a lot of extra money to go to the Minderoo Foundation. The dividends from the shares( 220m) will be worth around $400-500 m a year Some serious philanthropic opportunities.
The Minderoo Foundation already has sponsored some outstanding work. Twiggy is generous but not stupid.
Minderoo Foundation
Minderoo is a proudly Australian philanthropy, working to forge a fair future by courageously challenging inequalities and campaigning for meaningful change.www.minderoo.org
It's always the 'have nots' complaining, the same people that don't want to work towards any goal and sit on their phones all day and complain about how wrong the rest of the world is while they contribute very little to it.Capitalism gets a lot of trash talked about it, but this is capitalism at its Best, I think Andrew seeded FMG with about $4 Million, but over the last 20 years FMg has -
Created 1,000’s of High paying jobs.
Paid Billions of $$$ in Royalties
Paid Billions in company Taxes
Supplied Millions of tonnes of ore to customers
Paid Millions of $$$ in Interest to debt investors
Paid Billions of $$$ in dividends to investors
And created a huge capital value that Andrew is distributing to charitable causes.
Not to mention the retained earnings being diverted to try and solve climate change.
It does make me proud to be a “Card Carrying Capitalist”, there is a lot of benefits to good old capitalism.
Talking like that in today's world, will see you taken out the back and thrashed. ?It's always the 'have nots' complaining, the same people that don't want to work towards any goal and sit on their phones all day and complain about how wrong the rest of the world is while they contribute very little to it.
Market thinks its a good outcome, up 1% this morning.
What's the loss of the odd billion or two??Market thinks its a good outcome, up 1% this morning.
Perhaps they think he can now focus more on his job.
He may have less spare cash to splash around on things however.
Mick
Dunno,, never been in that sort of mulah.What's the loss of the odd billion or two??
I've given up trying for the first billion but am now working towards the second lot !!!!Dunno,, never been in that sort of mulah.
mick
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