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totally agree, the Swiss witholding tax is the biggest reason NOT to buy this as the company goes into dividend mode. I never sold my stake here, but got butchered with the tax, I know it is reclaimable but good grief that's too much hassle.

I see Vale has just agreed its Q3 pellet premiums at circa $62 per MT. Thats up demo 22 PMT in Q!.

With Iron ore at 220 today, and a locked in $62, Ferrexpo in set for one hell of a Q3.

Ferrexpo is an aggressive company that pushes ahead, and this has worked out due to the rise in prices, however, the dividend policy is equally punchy, which is driven by the CEO IMHO, there is a large debt here, and that should be the priority over dividends.

Market Makers.
A quick note, it is practically impossible for the MMs to manipulate this share, it is a FTSE 250 share and highly liquid, with a tight spread. FXPO is on the SETS electronic price platform so there are no MMs here. By the way there are very large fines for manipulating the SP, and most MMs are monkeys who couldn't value their own cars, I never met one that would risk messing with the likes of this.... so there ya have it..... I'm a long term holder here, I'm the man who bought heavily at 40p as. my posts show at the time then . Keep posting guys.

will it ever end...
https://en.interfax.com.ua/news/sport/679411.html

Hello all, I've been flat-out on several projects in the real world, thanks for you compliments. The whole Cover-19 thing has made investing very exciting again. I like the recovery stocks very much, that is to get in when the ship looks in deep danger. My favourite slogan is "debt is the death" so I like companies that are adverse to it or aggressively pay it down. In Ferrexpo's case the CFO took on debt to protect the company a few years back, which balance the CEO push-on approach. Fruits of that policy here now.

Very solid performance considering its EU market is on its knees and they had to sell to the 'low premium' Chinese. Shows the resilience of the company. I am not in favour of the dividend policy when debt is lurking and once again the paw goes into the till.
What is in store? I'd imagine the next six months will be in line in terms of production, sales, and prices. However, there will be no circa $100m capital costs, I gather all the spending is over? This should throw another $100m into the kitty, The company should be sitting on well over $300 million cash by December 31st 2020 and maybe $350m..... this is a very serious player.

agree with all comments here, this company has pushed very hard, and taken risks to up its production which are now starting to pay off. Debt before capex is my preference, but Ferrexpo is an aggressive expander. For me it is time to bag money and get the debt paid, this company nearly went under three years ago because of debt and the lesson seems not to have been learnt. Thankfully high iron ore prices have kept things on track and the gamble paid off. I'd be meaner on the dividend too until things are paid down. The end of year here should be an excellent set of books, but she has a tendency to overpromise.

brilliant post, Bravo Sir

Ferrexpo uses a lot of oil in its production, and in its transportation to the market, it is a sweet hedge this company enjoys. That said there has been a fall in Ore price of 5%.

Well yes and no, nice to see it's business as usual, but unlike last year they made no further comment, and it came a few weeks later than last year. So a little thought on that.

The share price is down, the CEO in the dumps, but the core business ploughs on and pumps the money through thick and thin. Iron prices remain very high, demand does too. The end of year figures will tell a tale here, with several hundred million dollars bagged since the summer report and another step closer to stability and full production

The issue is surrounding the CEO and Ukraine in general. The government could pull a taxation stunt to stifle the company. Remember in the UK in the 1960s there was a 90% wealth tax for a short period. So this is a volatile country. However, even if the CEO is ever found guilty, the company will trade on regardless, Iron ore is doing well, the company continues to upgrade its production lines, and should produce excellent results by the end of the year for 2019.

The Chinese deal was the only one in sight at the time and the company was right to take it, as there was always a chance it would go through. The Asset still stands, BUT, elsewhere in the world oil can now be discovered, and targeted easier through 4D technology scanning. The increasing supply keeps prices down. The upside, is PVR assets, that extraction process is improving too.

beggars and choosers, we are currently the girl that none of the boys want to bring to the debs dance. We have a promise from a Chinese lad that we don't really know that well, and re repeatedly says he'll call around with money he owes, but has yet to show up. There is no other boy, so what's there to do, but sit and wait, and secretly get hunting for another, but there is nothing to be gained in kicking the Chinese lad away just incase he shows up....

Uncertainty hurts this, and constant upgrades costing $100million in H1 alone becomes tiresome and the curse of all mining. Despite a year EBIDTA of 700m, the money always vanishes.

I always suspected that they took a 'holding' position costing nothing. If the price of oil took a hike, they were quids in, and if it fell or stayed the same, they could simply slip away into the night no harm done and no money invested. Or, they simply have funding issues, and it will be sorted, but it's not looking good, Yesterday's RNS tells me that the BOD think its game up for China.

I have transferred money in and out of China on property deals there, and yes there can be delays. In my case one lasted 9 days, I complained to the Chinese Central Bank, who investigated, and the bank executive that delayed my money, Was Fired. The Chinese central bank contacted me to tell me, 'we walked into his bank, called his superiors, and he was fired there and then". I was shocked and objected to his, but the Chinese CB said that international transfers were important to their international business reputation. So believe me there is no international transfer desk holding this.

How can the MM's manipulate this share, that's impossible. It is sold in two exchanges, and across several platforms, with DMA. Also, the MMs operate independently of each other, so they can't do it. The only possible manipulation here could be insider trading, and there has not been the slightest hint of that.

I can't say I believe it will come or not. Terrible to produce a remittance and then for it not to come. If you worked in a Chinese bank you could make some serious money here prior to pressing 'Send".