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

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.

flipping heck tucker...!

yes, mitzy for showing confidence in me.

Yes good call hlyeo cant see any growth here best to sell.

No support here on a positive day...best to sell.

i would have agreed, except a littke voiuce warns against it ...... the following is dated a week ago .....NWR said that it would pay 126.6m ($217.5m), or 86p a share, for the stake in Ferrexpo acquired this month by NWR's majority shareholder, RPG Industries, the investment vehicle of the Czech billionaire Zdenek Bakala.

already down to 40p. Even worse than what I thought.

Touched 38p early on I guess 20p would b right.

Seems to stablised @39p worth a gamble..?

Bought in.

moving up may get 40p today.

moving up strongly dcb maybe.