Recent listing produces iron ore in the Ukraine and has recently stepped up production recent gains suggests this one has further to go dyor..

I would however disagree, with the current global economies including China heading into difficulties, I think metal price will continue to slide.

I think FXPO will head to 50p.

Crikey 50p thats incredible if it happens.

No support here .

Its in freefall just like yesterday afternoon.

Yes, mitzy...FXPO is showing more weakness and 50p very likely on the cards.

Touched 110p before rallying to 120p...damn those shorters.

Wall St down 3% tonight its a tough one..it could go 50p.

Mitzy and hyleo, do u think this will go to 50p...I'm nervous cos I've some of this.

In a typical business cycle share prices & commodity prices fall when economies enter recession. Short term interest rates peak & bond yields top out. Inflation increases. When recovery starts, share prices will start to rise but commodity prices normally stay weak. When interest rates fall & inflation also starts to fall, then commodity prices start to pick up.
So, normally only when an economy is starting the recovery cycle do commodity prices start increasing. If you haven't already sold, it is my opinion that there is further to fall, so you could now hold these for recovery, which could be at least 12+ months away, imo.

Thanks Harry for the advice, think I will cut my losses and sell.

The biggest shareholder, Kostyantin Zhevago, in Ukrainian iron ore producer Ferrexpo has sold a 20 percent stake in FXPO.

Incredible...got out last Monday...otherwise suffer more loss. 50p on the way, as u guys said.

Complete disaster after todays news.

I hope you're not in FXPO, mitzy...remember the 50p target I told you.


Ferrexpo defers growth projects - MoneyAM


Swiss headquartered resources company Ferrexpo, principally involved in the production of iron ore pellets, today unveiled a 12.4% rise in Q3 output and said it deferred a decision on investing in growth projects due to fragile market conditions.

'Given the current uncertainties in financial and commodity markets, the board has deferred decisions on the ultimate investment in these projects until the end of the first quarter of 2009,' the company said in a statement today.

The firm has previously said it was looking for a joint venture partner and would make a decision in the fourth quarter.

The growth projects are the centrepiece of plans by Ferrexpo, which owns one of the biggest iron ore resources in the world, to raise production nearly fourfold to around 100 million tonnes by 2018.

Iron ore pellet output for the three months to end September rose to 2.51 million tonnes from 2.23 million tonnes last year.

It said it expected production for the year to be broadly in line with previous guidance while cost pressures were easing.

Ferrexpo, the world's 12th-largest producer of iron ore pellets, used in the production of steel, doubled its first-half earnings per share on the back of record prices and shortly afterwards launched a share buyback to return excess cash to shareholders.

Last week, Ferrexpo's majority owner announced it had sold a 20.8% stake at a big discount to the main shareholder of Czech coal producer New World Resources to satisfy a loan agreement.

Fevamotinico, controlled by Ukrainian billionaire Kostyantin Zhevago, said it retained a 51% stake in Ferrexpo following the divestment at 86p a share, 30% below London-listed Ferrexpo's closing price the previous trading day.

Currently 76p...sell out

i am afraid it looks as though you holders have been badly stiffed by the majority owner

Continue sell FXPO at 63p.

Could this one fall to 10p I think so.

What happened to Citibanks 430p valuation.

52p now that is the lowest yet I dont know.

If Citibank valued this at 4.30 then that gives you a measure of them!
Was there ever a dividend?
+I must say I don't like foreign companies listed here....just how much iron-ore is there in Switzerland?

I read (above) they were using Share buy-backs to enhance shareholder-value - - - that's a sure sign - avoid!

hyleo was right re 50p they must be in big trouble.