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This price agreement and the promised financing will make Fortescue a big player in the iron ore business. This certainly should bode well for the stock long term as the company will become a major competitor to the two largest iron ore companies in the world. With the expansion, they could be shipping close to 150 million tons a year within two or three years.
Aug 18 11:46 am
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All Comments by wghanna2 »China Gets 35% Iron Discount from Fortescue Metals [View article]
The profit potential for this company is enormous. Just think what they have accomplished in their short existence. Starting from nothing three years ago, they have built a railroad, built a shipping terminal, and went from nothing to now shipping at an annual rate of about 50 million tons per year. What they have accomp[lished is amazing so it should be a very good bet they will be very sucessful in the future. I am a buyer for the long term expecting a homerun on this stock within five years.