On the subject of electrification and EV, maybe Fortescue is the best electrication play?

A Russian cyberattack and allegations of wrongdoing.

Sells and holds across the board although some have revised up their price targets.

Simandou "Pilbara killer" waiting in the shadows?

It seems everyone is trying their hardest to press down FMG.

But the share price still trundles on and outperforming the likes of BHP and RIO. Not to mention the main index while FMG tries to shore up their EV business and electrify their operations.

This is where sometimes it is better to do your own research and ignore the naysayers.

Having said that, I think electrification is more than just batteries or Lithium. There is also the all the infrastructure that needs to support it. The hard part is finding an investment that captures all those areas.

Still considering whether to reenter after recently selling out. Sometimes it is hard to ignore the price action.

FMG has quite a bunch of sell recommendations. Price targets below $15.

Have to also add that many economists such as Saul Eslake always comment on FMG as having more downside to the Iron Ore price and always cite Simandou.

Yet share price stubbornly holds above $19.

Only theory I can think of is FFI. Or maybe investors betting FMG is secretly drilling their lithium tenements but not informing the market (see my previous straw). Plus no matter what, I think FMG will still be profitable at low prices.

Earnings per share estimates for anyone interested in watching the next financial year results

Did get out but still on my watchlist. Think the analysts are wrong and they are simply trying to get people to sell at lower prices.

Saw the Wildcat Resources announcement on acquiring some Lithium tenements and noticed that FMG has been also doing a bit of drilling also.

But so far I don't think FMG has found anything significant

Also according to the ABC they have some tenements in Ravensthorpe

However from one of the earnings transcripts dating back Oct 2022, FMG appears to think there is too much lithium at the moment and may explain the lack of activity in that tenement. Hard to say if FMG will be eventually proven right.

[held]

Oil vs Water: Confessions of a Carbon Emitter - Transcript of the Boyer lecture by Andrew Forrest

In summary, Andrew Forrest is making a pledge to use renewables across the whole company operations which is another example of diversification.

It's probably this diversification and vision which attracted me to FMG over the other big miners months back before the big rally.

Hydrogen/Green Innovation

As no one had mentioned this, I thought I'd put this out there.

There is a teaser into their next generation mining fleet powered by Hydrogen.

Also they are looking at development of a Hydrogen plant in the Bells Bay Precinct, TAS.

Correct me if I'm wrong, but I haven't seen any other mining company doing what FMG is planning with their mining fleet.

Copper ground in South Australia

Another example of Fortescue diversification into copper  - BigNE tenement. But not much discussion about it.

From a presentation given by Petratherm - another micro cap exploring near Prominent Hill.

Some interesting commentary about the supposed Pilbara iron ore killer Simandou

https://www.economist.com/business/2020/10/10/why-rio-tinto-and-china-are-at-loggerheads

In summary, Simandou seems to be mired in controversy with Rio Tinto being hesitant in developing the deposit with partner Chinalco. Also there is $20 billion of infrastructure to develop the mine.

Makes some of the Australian projects look cheap.

Holding FMG

FMG diversification from Iron Ore?

One example of FMG pegging ground in the Lachlan around  ALK and MAG tenements.

There are other examples of FMG pegging ground in Fraser range (near the Nova site and where IGO and BUX are drilling for Ni) and the Kimberleys