Fortescue’s prayers answered?

Monday, 12 October 2015

Here’s what UBS thought of Fortescue on Friday:

Guiding to sales of 165Mt in FY 16

FMG management are guiding to FY 16 iron ore sales of 165Mt, which compares to sales of 165.4Mt in FY 15. Similarly, C1 cash cost guidance for FY 16 is US$18/wmt FOB (at AUD/USD of 0.77), versus C1 cash cost achieved in FY 15 of US$27/wmt FOB.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.