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24HourForums.com > Supported Forums > 24's Money Business > Fortescue Mtl Group Ltd (FSUMF)

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MrPaseo
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 Posted: 04:08 pm

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ALCON,

     I was introduced to this stock on 28 MAR 08 where the stock price was $6.20.  Since that date as of Friday the stock has gone up $3.10 per share for a total of 50.05% rise to the current NAV of $9.30.

     The quick history about this mining company is at one point the stock was over 50 per share.  They did a 10 for 1 stock split and decided to build their own rail system to the ocean instead of paying to use someone else.  Well, as of this month (Or was it last) the rail is finished and they intend to start pulling a profit again.  They mine ore and have already sold the first years worth of the stuff.  A key note is, the mine that they thought was so big, ended up being ten times as large... hopefully that means more profit (I'm not really sure). 

     I was hoping to receive an opinion or two as I have no idea what I am doing when it comes to stocks.  I am in the process of trying to educate myself.

Thanks for your time,

Ray

 

 

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24HourForums.com > Supported Forums > 24's Money Business > Fortescue Mtl Group Ltd (FSUMF)


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