Fortesque Metals (FMG): Winner for ASX200

Fortesque Metals (FMG) was the best performing stock on the Australian Stock Exchange ASX200 index this week for week 19 of 2007. Fortesque closed the week up 18 percent or $5.23 closing the week at $34.45. The stock is also up by 54 percent for the month. The All Ordinaries index closed at 6319.7 and the ASX200 index closed at 6312.5.

Fortescue Metals Limited is listed on the Australian Stock Exchange (ASX) under stock code FMG. You can view their investor website here. FMG was listed on the ASX on 19 March, 1987. The company is involved in the development of the Pilbara Iron Ore and Infrastructure Project. Andrew Forrest is the CEO of Fortescue Metals. Fortescue has over 2.4 billion tonnes of Resources, including 1.1 billion tonnes of Reserves already delineated from less than 10% of its 38,000 square kilometres of tenements, the largest in the Pilbara. The company is developing The Pilbara Iron Ore and Infrastructure Project and will commence shipping ore from Port Hedland in the second quarter of 2008. The initial plans are to sell 45 million tonnes of iron ore per annum, expanding as the market dictates. Check your charts and good luck with your share trading!