# FEX - Fenix Resources



## System (2 July 2010)

Emergent Resources Limited (EMG) is an iron ore, gold, uranium and base metals exploration company with the projects located in Western Australia. Before ASX listing the Company has negotiated a JV to earn up to 80% equity from De Grey Mining Ltd in the Beyondie project and an option to acquire base metal, gold and uranium granted exploration licences and applications from Pandell Pty Ltd and Oakover Gold Ltd.

http://www.emergentresources.com.au


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## JimBob (18 July 2010)

Here is some information on this company which i have been looking in to

Shares on Issue: 48,208,508
Options on Issue: 22,780,259 (20c strike price expire 30 Sep 2010)

Market Cap: $21million

Main Project:
*Beyondie Iron Project*
Exploration Target of 3.7-4.2billon tonnes at 27-28.5%Fe (Current JORC reserve of 561MT at 27.5%Fe)
70-120MT DSO Iron including a portion of 25-45MT at 55-60%Fe.

Emergent are expecting significant upside on these targets in both grade and tonnage.  

The project is located adjacent to the Great Northern Highway and Goldfields Gas Pipeline in the northern part of WA’s mid-west iron ore precinct. Potential shared rail and port infrastructure developments for the project are in progress. 

A 60 hole, 4000m drilling program is planned over 5.2km of strike with a follow up 10,000m over an extended strike of 12.6km.

A JV with Chinese company China Metallurgical Investment Group (CMIC) worth $200million is near finalisation.  

Share Price chart attached.  12 month high $1.06 around the time the CMIC JV and initial magnetite exploration target was announced, 12 month low $0.325.  There should be good upside to the current market cap if they confirm their DSO exploration target, although they state they are confident of exceeding the target.


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## PinchOfSalt (24 September 2010)

This stock is plumbing new lows due to the CMIC JV being cancelled and the options expiry.  The options, EMGO, have ceased trading and will expire in a week on 30th Sept.

It's not entirely clear that the issue will be underwriten since "non-completion under the CMIC Agreement" was a termination event in the underwriting agreement. IMHO, Casimir, the underwriter probably have a way out that they will not exercise since they get fees, options and more shares at 20c. But if the SP does get below 20c, perhaps they would consider pulling the plug. I know of one case where Paterson did that.

BTW: was looking at their cash position. Here's a rough estimate for end of quarter (Sept 10) in $k
$879 Start of quarter
-$1,050 Operating costs for the qtr
$1,000 Options exercised so far
$1,000 5M shares for Casimir at 20c.
$3,544 Options to be exercised by Sept 30
------
$5,373

Number of shares after 100% option exercise.  
(Shares and options in escrow were ignored in the previous post.)
85M (85,088,767)

So at current price (28c) mkt cap will be $24M. At 20c, mkt cap $17M

So plenty of upside, just compare the current price to the graph but note that there are more shares outstanding now and the project seems further from comercialisation now.


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## springhill (30 August 2012)

MC - $4m
SP - 2c
Shares - 207m
Options - NQ
Cash - $3.5m

An OK spec in regards to MC:Cash position, haven't looked at their projects that closely as there are not alot of plans for exploration this quarter, but Beyondie can get thrown in the trash I wouldn't wipe my backside with a magnetite project at the moment. With only an $80k spend on exploration I can't see where SP appreciation will come from this quarter.

*Projects*
Extension and Extension North Gold Project:
Extension to the Plutonic Well Greenstone Belt with previous drilling for Au
Beyondie Iron Project: (80% EMG, 20% DEG)
Established 561 Mt inferred magnetite resource with multiple potential iron products.
Glengarry Gold & Base Metal Project:
Comprising 2500 square kilometres of highly prospective ground for Cu, Pb, Zn, precious metals and uranium.
Marble Bar Copper, Gold Project:
Potential for gold and VMS deposits.
Paterson Uranium, Copper, Gold Project:
Potential for Kintyre, Maroochydore and Nifty style deposits.

*AUSTRASIA INTERNATIONAL MINING LIMITED (AUSTRASIA) INITIAL PUBLIC OFFERING*
• Due to the adverse conditions of the financial and capital markets, the Initial Public Offering (IPO) for Austrasia was withdrawn during the quarter. The Company is currently assessing the best way forward to advance Emergent’s base and precious metal tenements that were due to be transferred across to Austrasia as part of the IPO process.
*CORPORATE*
• At the end of the Quarter the Company announced a number of changes to the roles of the Emergent Board and management team. Mr Nathan Lude stepped down from the role of Managing Director to become a Non-Executive Director for the Company. The management of the Company will be the joint responsibility of the Board
*ASSET REVIEW*
• During the Quarter the Company reviewed a number of new projects located both locally and abroad for the company. The company is focused on reshaping it’s project portfolio to one with the potential to more effectively deliver near term value for shareholders.


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## greggles (27 October 2017)

Emergent Resources has taken off today. Up 112.50% so far to 1.7c.

Someone bought 45,394,609 EMG before the open for 1.5c a share, almost double yesterday's close of 0.8c. Taking such a large position at that price smells of a takeover. It certainly sparked some speculative buying today.

Anyone know more about this one?


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## System (24 September 2018)

On September 24th, 2018, Emergent Resources Limited (EMG) changed its name and ASX code to Fenix Resources Limited (FEX).


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## greggles (23 January 2019)

Fantastic high-grade iron ore intersections for Fenix Resources at its Iron Ridge Project have been announced today.






The news has set the FEX share price on fire. It soared 63.6% to close at 3.6c with an intraday high of 5.8c. The volume was huge with around 158 million shares being traded. Lots of profit taking but it was the buyers who were in the driver's seat today.

I really like the look of those assay results. Big, thick intersections with low
impurity levels. Diamond drilling results are currently pending with results from the metallurgical testwork to be available in February and a new Mineral Resource to be completed in March 2019. There will be quite a bit of news flow over the next few months and further good news will almost certainly see further share price gains.


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## Miner (24 January 2019)

greggles said:


> Fantastic high-grade iron ore intersections for Fenix Resources at its Iron Ridge Project have been announced today.
> 
> View attachment 91605
> 
> ...



Good morning @greggles . That's a massive jump yesterday and you were right the buyers were lucky as it gone up 22%! Having in iron and  steel industry for more than a decade, that grade of FE is one of the best I have ever seen 
I am wondering if the ore body is haematite or magnetite. Need to do some research.
Do you also have any commentary with another FEL running by Mr Tony Sage of CFE fame(!) and his relatives with constant purchase but southwards direction of the stock price ?


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## greggles (24 January 2019)

Miner said:


> Good morning @greggles . That's a massive jump yesterday and you were right the buyers were lucky as it gone up 22%! Having in iron and  steel industry for more than a decade, that grade of FE is one of the best I have ever seen
> I am wondering if the ore body is haematite or magnetite. Need to do some research.
> Do you also have any commentary with another FEL running by Mr Tony Sage of CFE fame(!) and his relatives with constant purchase but southwards direction of the stock price ?




I'm not familiar with FEX management so I can't comment on that. I noticed the price action yesterday and took a look through the recent announcements. The grades and thick intersections are impressive and I suppose there are many out there buying today who suspect that what was announced yesterday might be the tip of the iceberg.

FEX has a market cap of less than $4 million. That's tiny. It's not hard for a $4 million company to move quickly on good drilling results. I'm going to look a little deeper into this one. It might just be a diamond in the rough.


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## barney (29 January 2019)

greggles said:


> I'm not familiar with FEX management so I can't comment on that. I noticed the price action yesterday and took a look through the recent announcements. The grades and thick intersections are impressive and I suppose there are many out there buying today who suspect that what was announced yesterday might be the tip of the iceberg.
> 
> FEX has a market cap of less than $4 million. That's tiny. It's not hard for a $4 million company to move quickly on good drilling results. I'm going to look a little deeper into this one. It might just be a diamond in the rough.




FEX chart consolidating nicely last few days and looks very interesting to my old eyes Lets see how she opens tomorrow


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## barney (2 February 2019)

barney said:


> FEX chart consolidating nicely last few days and looks very interesting to my old eyes Lets see how she opens tomorrow




A couple of days later and it looks even better …… On the up


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## barney (4 February 2019)

Trading Halt pending more significant drill results ….. 

Shaping up nicely for holders (Don't hold unfortunately)


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## greggles (4 February 2019)

barney said:


> Trading Halt pending more significant drill results …..
> 
> Shaping up nicely for holders (Don't hold unfortunately)




I'm looking forward to the announcement barney. I'm not a holder, but I did pick it for the February stock tipping competition, so I'm hoping for a good result. I have a feeling it's probably going to be good news but we will all find out one way or the other very soon.


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## barney (5 February 2019)

greggles said:


> I'm looking forward to the announcement barney. I'm not a holder, but I did pick it for the February stock tipping competition, so I'm hoping for a good result. I have a feeling it's probably going to be good news but we will all find out one way or the other very soon.




Probably take a bit of effort to get past that 150 million shares traded on 23rd Jan, so maybe a bit of trading around the 5+ cent region, but the signs look good for these guys into the future


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## Miner (5 February 2019)

greggles said:


> I'm looking forward to the announcement barney. I'm not a holder, but I did pick it for the February stock tipping competition, so I'm hoping for a good result. I have a feeling it's probably going to be good news but we will all find out one way or the other very soon.



How do you do this scanning Greg ? There are thousands of stocks . Other than your sharp mind what else tools do you use ? 
It is a great pick up. Watching and not holding however.


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## barney (5 February 2019)

Miner said:


> How do you do this scanning Greg ? There are thousands of stocks . Other than your sharp mind what else tools do you use ?
> It is a great pick up. Watching and not holding however.




Just back in to see it has been sold into after the open … nothing unusual, but the acid test will be how it trades around the lows of the last 5 day range (low 4 cent area) 

Good looking chart for you to adjudicate on over the next few days or so @tech/a  …. time permitting of course


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## Miner (5 February 2019)

barney said:


> Just back in to see it has been sold into after the open … nothing unusual, but the acid test will be how it trades around the lows of the last 5 day range (low 4 cent area)
> 
> Good looking chart for you to adjudicate on over the next few days or so @tech/a  …. time permitting of course



Thanks Barney


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## greggles (6 February 2019)

I'm a little surprised by the market's reaction to yesterday's announcement. It looked good to me but I suppose it could have been better. 

Still, more new flow on the way with an Updated Mineral Resources Estimate coming up soon. Profit taking is to be expected after a good run. Will watch for it to consolidate at current levels.


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## greggles (6 February 2019)

Miner said:


> How do you do this scanning Greg ? There are thousands of stocks . Other than your sharp mind what else tools do you use ?
> It is a great pick up. Watching and not holding however.




Miner, I just track volume and % price increase to watch for movers with lots of commitment behind the move. Those two variables alone bring up a lot of potential trading opportunities.


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## barney (6 February 2019)

greggles said:


> *I'm a little surprised by the market's reaction to yesterday's announcement.
> 
> Profit taking is to be expected after a good run*.




Agree 100% Greg



Miner said:


> Thanks Barney




Cheers Miner .... Just bouncing off @greggles initial heads up so all credit to him   …… 

I still think this has another short term run in it based off the results/charts …. and if it pans out the way it looks, I see a solid medium term future ….. all just my opinion of course so a few grains of salt should be sprinkled on the above


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## greggles (11 February 2019)

FEX up 18.2% today and back to 5.2c with an intraday high of 5.4c. Volume was solid with around 38.5 million shares traded.

Looks like all the profit takers have finished selling and those taking positions for the longer term have moved back in.


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## barney (14 February 2019)

Chart chugging away nicely ….. If that resistance line gets broken to the upside and holds, it will look even better and it's shaping up to do that methinks.


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## barney (18 February 2019)

barney said:


> Chart chugging away nicely ….. *If that resistance line gets broken to the upside and holds, it will look even better *and it's shaping up to do that methinks.




Its now done that and looking pretty solid … DNH but those that do should be happy


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## greggles (18 February 2019)

Yes, FEX looks like a breakout today. It has well and truly broken above that previous high of 5.8c made on 23 January. Today's volume was good but not outstanding, which makes me think that supply is tight and holders are not willing to part with their shares at current prices.

We may see some further share price gains this week if this situation persists.


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## barney (22 February 2019)

FEX having that little breather it needed to have but tidy again today …. Still only a tiny market cap. Interesting times ahead.


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## greggles (31 May 2019)

May has really been FEX's month, rising from a low of 6c to a high of 11.5c today, the last day of the month. 

During the month, FEX formed a strategic alliance with trucking and logistics company Minehaul Pty Ltd, received strongly positive metallurgical testwork results in respect of potential products from its Iron Ridge Project and signed a co-operation agreement with the manager of the Port of Geraldton, the Mid West Ports Authority, relating to the export of Iron Ore product.

Fenix is definitely one to watch in the coming months as the Iron Ridge Iron Ore Project ramps up towards production.


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## barney (31 May 2019)

greggles said:


> May has really been FEX's month, rising from a low of 6c to a high of 11.5c today, the last day of the month.




Certainly been a mover and a shaker last few months.


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## frugal.rock (23 November 2020)

barney said:


> Certainly been a mover and a shaker last few months.



18 months on, and you can say that again B.
3 year chart so we can see the excitement 1.5 year ago.... seems we all missed this one and I would concede it's probably done it's rise for a while, however I know nothing of the FA.?


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## doogie_goes_off (4 December 2020)

Make no mistake Fenix will be next to port with a new iron project. Locked in at the port and likely to get 'built' (dig, screen, send) before the heat comes off iron and we dip below $90/t late next year.


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## Telamelo (7 April 2021)

BHP is facing a groundwater contamination challenge at its Iron Ore mines after detecting the same dangerous chemicals that have been found at Australian Defence Force sites and on Victoria’s troubled West Gate tunnel project.

WA’s Department of Water and Environmental Regulation has raised concerns about a potential threat to human health, including to mine workers, and the environment in ordering remediation work and a more detailed risk assessment.

https://thewest.com.au/business/min...newman-iron-ore-hub-in-pilbara-ng-b881839278z

Meanwhile, other Iron Ore stocks like MGX @ 0.855c +4.91% and FEX @ 0.24c +4.35% are doing really well this morning on the back of BHP's troubles it seems.

Cheers tela


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## Telamelo (15 April 2021)

Terrific work by Fenix Resources *FEX* as already planning to load next ship on the weekend! Impressive indeed


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## Telamelo (15 April 2021)

Telamelo said:


> Terrific work by Fenix Resources *FEX* as already planning to load next ship on the weekend! Impressive indeed



Ripper finish @ 0.27c +12.5%    as FEX looks set for 0.30c+ imo









						CHRIS JUDD INVEST - Fenix Resources (ASX: FEX)
					

CHRIS JUDD INVEST takes people inside the minds of Australia's brightest investors, opening up a channel of information that only a generation ago was reserved for professional investors.



					www.chrisjuddinvest.com


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## Telamelo (16 April 2021)

Telamelo said:


> Ripper finish @ 0.27c +12.5%    as FEX looks set for 0.30c+ imo
> 
> 
> 
> ...



With Brazil plagued by covid & heavy flooding - impacting their iron ore which is great news for Aussie miner's like FEX & MGX etc. (Iron ore futures continue to go higher which is bigger $$ margins to be made).

Both FEX & MGX release quarterlies over the coming week's


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## Telamelo (16 April 2021)

Overnight spot iron ore gained +2.7% to US$177.30 a tonne!

*FEX* now @ 0.29c +7.41%


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## Telamelo (17 April 2021)

*Iron Ore price hits 10-year high* on rising steel demand = bigger profit $$ for *FEX* & *MGX* as well as the big miner's of course.

MGX is a cash cow raking in big $$ and with Shine project about to start up will further enhance it's output profit $$ margins further


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## Telamelo (19 April 2021)

Telamelo said:


> *Iron Ore price hits 10-year high* on rising steel demand = bigger profit $$ for *FEX* & *MGX* as well as the big miner's of course.
> 
> MGX is a cash cow raking in big $$ and with Shine project about to start up will further enhance it's output profit $$ margins further



FEX big line wipes of 0.29c/0.295c smashed now @ 0.305c +7.02%!


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## Telamelo (19 April 2021)

Great finish @ 0.315c  new 52 week high!


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## barney (19 April 2021)

Should have put this little fella on a short leash watch list !!

Didn't ... My loss ... Been going gang busters.

Hope you hold a few @Telamelo


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## Beaches (20 April 2021)

barney said:


> Should have put this little fella on a short leash watch list !!
> 
> Didn't ... My loss ... Been going gang busters.
> 
> Hope you hold a few @Telamelo




The fundamentals for this look very good and you might find it still has further to go if the Iron ore price stays up.

First shipment went out on schedule in February and they are on track for 1.25mtpa over the next 12 months which will give them an EBITDA of $150mil per year with a market cap of only $145mil. 

If you compare them with Mount Gibson (MGX), it still looks very undervalued.


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## Telamelo (20 April 2021)

barney said:


> Should have put this little fella on a short leash watch list !!
> 
> Didn't ... My loss ... Been going gang busters.
> 
> Hope you hold a few @Telamelo



Thanks @barney as fortunately I spotted FEX earlier on (still believe it's quite undervalued as I have a conservative 0.50c+ target in mind imho)

Boom *Iron ore above US$180+* per tonne!!! 
	

	
	
		
		

		
		
	


	




Can't wait for *MGX* quarterly report due by either today or tomorrow..

Meanwhile, *FEX* is the gift that keeps on giving.. just loaded another ship (already departed) with another ship due at Geraldton by 27/04 = more big $$ in the bank! 
	

	
	
		
		

		
		
	


	




DYOR .. Cheers tela 


barney said:


> Should have put this little fella on a short leash watch list !!
> 
> Didn't ... My loss ... Been going gang busters.
> 
> Hope you hold a few @Telamelo


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## Telamelo (20 April 2021)

Australian Financial Review article from this evening says it all

Bonanza for iron ore miners​
https://www.copyright link/companies/mining/bonanza-for-iron-ore-miners-20210420-p57ksi


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## Telamelo (22 April 2021)

*FEX* as strong as a bull 














						FEX Share Technical Analysis | Fenix Resources Limited
					

Current Technical Analysis and interactive chart for $FEX stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com
				




Cheers tela


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## Telamelo (23 April 2021)

4 reasons why iron ore could surpass $230 per tonne!

The price of high-grade 65% Fe iron ore fines looks set to break through the $230-per-tonne-cfr-Qingdao price ceiling amid tight supply of seaborne cargoes and hefty mill margins, industry sources told Fastmarkets.

https://www.metalbulletin.com/Artic...why-iron-ore-could-surpass-230-per-tonne.html

Back of envelope *FEX* calc. over my morning coffee

5 boats, 50,000 tonnes each, $167/tonne less $14/tonne freight, times (1/.77) USD:AUD is about $50M revenue this quarter alone!


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## Telamelo (23 April 2021)

*FEX* ripper quarterly out.. jumped to 0.33c +11.86% on open... it will make about half of it's market cap in net profit $$ within 3 months time from now


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## Sean K (23 April 2021)

Telamelo said:


> *FEX* ripper quarterly out.. jumped to 0.33c +11.86% on open... it will make about half of it's market cap in net profit $$ within 3 months time from now




So, what's the price earnings ratio at this MC? Must be negative 40%? eeeek


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## Beaches (23 April 2021)

kennas said:


> So, what's the price earnings ratio at this MC? Must be negative 40%? eeeek





At .31c the market cap would be $141mil
Shipping of ore started in Feb and on target for 1.25mtpa

Current C1 costs of US$72/t which they expect to get down to US$65/t over the next 2 quarters. Taking a guess on other costs a very conservative AISC is likely to be around US$90/t once the cost savings kick in over the next 2 quarters

Average selling price for the current quarter was US$156/t and the current spot price is much higher.

Using a conservative average selling price of US$150/t, less ASIC of US$90/t gives them a profit of US$60/t by 1.25mt is US$75mil or A$96mil gross profit for the 12 months.

Some of this will be spent on exploration of the current and new tenements but should leave NPAT of at least A$50mil pa giving them a PE of around 3 at a share price of .31c


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## Beaches (11 May 2021)

Fenix has now moved up to 0.37c and a market cap of $172mil

If the iron ore price stayed at its current level, Fenix would be looking at a profit in the next 12 months of around $155mil, almost equal to its market cap.


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## Sean K (6 July 2021)

Beaches said:


> Fenix has now moved up to 0.37c and a market cap of $172mil
> 
> If the iron ore price stayed at its current level, Fenix would be looking at a profit in the next 12 months of around $155mil, almost equal to its market cap.




Getting back to new highs. Been a great 2 years. On the surface of it, this is extraordinarily cheap, if IO doesn't collapse.


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## Beaches (13 July 2021)

Quarterly reports out today







Cash at bank rose from $26mil to $69mil with an average price received for the quarter of US$185/t

Next quarter will have higher expenditure on exploration of their new tenements but with the price of iron ore firmly above $200/t they will likely bank another $45mil in the September quarter.

They are on track for cash at bank of $135mil in September and $180mil in December, which is too much cash for a market cap of $200mil @ 42c

The quarterly reports stated they are looking at their options for capital management and I would expect a healthy dividend or return of capital to be announced with the full year report in August or September.







Next to report of these junior DSO miners that have only just starting shipping is *GWR*. While GWR's numbers might not be quite as good as FEX, they will still be very good and they also have a much lower market cap at only $116mil.
.


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## Telamelo (20 August 2021)

FEX nudged 0.255c lows today picked up more at 10% discount so happy with that 

They have a much higher Iron Ore hedging fixed price commencing from 01st October '21

DYOR .. Cheers tela


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## Telamelo (23 August 2021)

Fenix Resource (FEX) announces its first dividend policy as it flags some sturdy annual earnings and profits for the 2021 financial year
Accord to Fenix, unaudited sales revenue hit $113 million over FY21, with net profit after tax at $49 million
Fenix says to the extent dividends can be fully franked, it plans to return between 50 per cent and 80 per cent of after-tax earnings to shareholders
The company plans to release its audited 2021 financial year results in mid-September, with its maiden dividend to be declared as part of the report


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## Telamelo (23 August 2021)

" With an unaudited headline *NPAT of $49 million* and market capitalisation of ~$132 million, this *implies a **price-to-earnings** ratio of just 2.55* and a potential *dividend yield between 19.58% and 30.6%*. "

*Excerpt from Motley Fool


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## Telamelo (24 August 2021)

Telamelo said:


> " With an unaudited headline *NPAT of $49 million* and market capitalisation of ~$132 million, this *implies a **price-to-earnings** ratio of just 2.55* and a potential *dividend yield between 19.58% and 30.6%*. "
> 
> *Excerpt from Motley Fool



Cash cow *FEX* moving up nicely @ 0.285c +7.55%


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## Telamelo (24 August 2021)

Dalian Iron Ore futures shot up +6% strong bullish close 

China thankfully recorded zero delta cases today so refocused on stimulus to get their economy going again which is driving up commodities, especially iron ore.


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## Telamelo (25 August 2021)

FEX @ 0.30c +7.14% already  

Share price crossed back above it's 200dma of 0.28c  (very bullish indeed imo)

Big fully franked dividend to be declared in a couple of week's from now..


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## Telamelo (26 August 2021)

Cash cow Fenix Resources *FEX* looks good to crack 0.30c+ in the day's ahead imo

It has reclaimed/crossed above it's 200dma of 0.28c over last couple of day's which is bullish.

Big juicy fully franked dividend to be declared in 2 week's time that will put other iron ore miner's to shame so to speak 
	

	
	
		
		

		
		
	


	




DYOR .. Cheers tela


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## Telamelo (27 August 2021)

Iron ore creeps higher on China steel demand optimism

https://www.hellenicshippingnews.com/iron-ore-creeps-higher-on-china-steel-demand-optimism/


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## Telamelo (30 August 2021)

FEX building @ 0.30c +5.26% let's hope/see if it can crack & hold 0.30c+ over these coming day's..


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## Telamelo (30 August 2021)

Great to see a bullish close with FEX @ 0.305c +7.02 %


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## The Triangle (6 September 2021)

Telamelo said:


> Great to see a bullish close with FEX @ 0.305c +7.02 %



Iron is as cold as ice right now but FEX looks good at 28 cents.

~ 1.25mta operation.
Market Cap: 130 million
No significant debt
Cash on hand: 70 million
50% of production next year hedged at $280/tonne
Producing high grade iron (64%) - not that low grade junk.

So - based on some quick back of the envelope analysis - Even if Iron goes to *zero *dollars - they could pull in $175M revenue - and probably have $135M in costs (say $100/tonne + some capex) leading to a $40 M positive cashflow this time next year... the EV right now at 28 cents is $60 million.

I like the board - looks like all Iron ore people... so they should know what they are doing.


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## Sean K (6 September 2021)

The Triangle said:


> Iron is as cold as ice right now but FEX looks good at 28 cents.



 I agree. On your numbers this is cheap as chips and the current SP is probably factoring in a lot more downside to the POI. Sitting on some nice support across 27c. Tail off in volume looks ok, will only need a few up days in IO to bounce sharply I reckon.


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## frugal.rock (7 September 2021)

About this time next week, the dividend announcement should be out. 
Back of the beer coaster calcs have it at 5 to 8 cent range, depending on what % they go with from recent (maiden) dividend policy announcement.
Held.


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## Telamelo (8 September 2021)

The Triangle said:


> Iron is as cold as ice right now but FEX looks good at 28 cents.
> 
> ~ 1.25mta operation.
> Market Cap: 130 million
> ...



Slight correction mate.. FEX have hedged 45% of their production commencing from 1st October 2021 through till October 2022.

Think they are due to report annual results & maiden dividend etc. in a week from now or thereabouts.


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## frugal.rock (15 September 2021)

This dividend represents 18.1% of the closing share price yesterday. Noice.
Fully franked


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## Sean K (15 September 2021)

frugal.rock said:


> This dividend represents 18.1% of the closing share price yesterday. Noice.




That's nuts. Do you reckon the sp drops 5c on the record or distribution date?


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## frugal.rock (15 September 2021)

kennas said:


> That's nuts. Do you reckon the sp drops 5c on the record or distribution date?



Any drop or rise of SP is speculation,...😬 however divvy scalpers normally sell the trading day before the record date.
That way they get the divvy.

I won't be surprised to see the share price rise today...🤭


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## Telamelo (15 September 2021)

kennas said:


> That's nuts. Do you reckon the sp drops 5c on the record or distribution date?



Lovely surprise this morning waking up to *FEX* trading at only @ 29c coming out declaring a fully franked 5.25c dividend !!!

Yes you read & heard that right 5.25c fully franked dividend is insane as super impressive indeed 
	

	
	
		
		

		
		
	


	










Well done to FEX management !!!

P.S. Usually on ex-dividend date or soon after share price expected to retrace/fall around 3c-5c range or thereabouts as see this happen on other stocks


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## Telamelo (15 September 2021)

to claim FEX dividend just register at:

https://investor.automic.com.au

as straight forward to do/complete etc.


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## Telamelo (15 September 2021)

FEX @ 0.32c +10.34% still "cheap as chips" on big volume/momentum turnover.. noting goes ex-dividend next Monday 20th September.

P.S. Allowing for franking credits at tax time gives 20%+ overall yield


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## Telamelo (20 September 2021)

FEX gone ex-dividend today..  huge "open gap" left up @ 0.295c from last Friday that sooner or later needs to get closed  (gaps usually always close) imo dyor


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## Sean K (20 September 2021)

Telamelo said:


> FEX gone ex-dividend today..  huge "open gap" left up @ 0.295c from last Friday that sooner or later needs to get closed  (gaps usually always close) imo dyor




In the hands of the IO price panic in the short term.


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## frugal.rock (20 September 2021)

frugal.rock said:


> scalpers normally sell the trading day before the record date.



Today is the trading day before record date...
Double whammy


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## Telamelo (23 September 2021)

FEX nice bounce @ 0.235c +11.9% noting huge 'open gap' to 0.295c after going ex-dividend on 20/09

Their 45% iron ore hedging @ $230/tonne commences October '21 with one of the big 5 banks (guessing it's Macquarie rumour has it)


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## Telamelo (24 September 2021)

Macquarie is bullish on all local iron ore producers it covers, with “outperform” ratings.

The broker says its optimism is based on predictions the iron ore price will rebound in 2022.

“Despite the recent drop in iron ore prices, we note port iron ore prices (which are at $US20 a tonne premium to index prices) remained resilient,”









						Buying opportunities await in iron ore
					

The heavy decline in prices doesn’t mean the run is over, with a window likely for increasing exposure at the right price.




					www.afr.com


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## Telamelo (1 October 2021)

Telamelo said:


> Macquarie is bullish on all local iron ore producers it covers, with “outperform” ratings.
> 
> The broker says its optimism is based on predictions the iron ore price will rebound in 2022.
> 
> ...



FEX  45% iron ore hedging at $230/tonne has officially kicked in as of October '21 through till end of September '22 (thankfully should keep FEX in business/cash flow positive imo)


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## Telamelo (11 October 2021)

FEX ticking up nicely @ 0.235c +4.44% and with patience am still eyeing that "open gap" to 0.295c


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## Telamelo (12 October 2021)

Telamelo said:


> FEX ticking up nicely @ 0.235c +4.44% and with patience am still eyeing that "open gap" to 0.295c



Iron Ore shot up about +10% overnight should fuel *FEX* share price to crack 0.24c+ imo dyor


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## The Triangle (12 October 2021)

Cashflow this quarter pretty well covered the dividend.


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## Telamelo (12 October 2021)

The Triangle said:


> Cashflow this quarter pretty well covered the dividend.



Very good Quarterly released by FEX as now trading @ 0.26c +10.64%


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## Telamelo (19 October 2021)

https://www. afr .com/companies/mining/bhp-iron-ore-output-slumps-20211018-p59120

Further news confirming the "big boys" aren’t increasing iron ore supply any time soon.

Reckon that iron ore prices likely to rebound strongly next year after the Winter Olympics in February '22 imo


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## The Triangle (28 October 2021)

Telamelo said:


> https://www. afr .com/companies/mining/bhp-iron-ore-output-slumps-20211018-p59120
> 
> Further news confirming the "big boys" aren’t increasing iron ore supply any time soon.
> 
> Reckon that iron ore prices likely to rebound strongly next year after the Winter Olympics in February '22 imo



Last time the Olympics finished in China....iron went bad....

Fex has a tonne of options out there - I thought there were 30 million due to be cashed once there was 1 million tonnes shipped - which should have happened in the past 6 weeks?

What have I missed?  Shouldn't we be seeing someone converting them by now?


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## The Triangle (18 November 2021)

Politics....   

FEX nearly had strike 1 at the AGM and two directors effectively voted out - wonder who was orchestrating this?  75 million votes against these people were not just moms and dads.   FEX has really done nothing wrong lately other than being in iron ore during a drop, so there must be some serious issues with FEX, or some big holders and/or the board/executive.    Not usually a good sign.  I have a feeling that someone is working very hard to get that money out of FEX (maybe an acquisition of junk?).  Doubt shareholders will see much more returned via dividends.   New chairman must have been part of a planed regime change.

FEX now off my watch list for a while.


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## davizr (21 January 2022)

FEX down -24% on earnings report today. yikes.


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## Go Figure (27 June 2022)

FEX is my July ‘22 Tipping Competition entry.

FEX is a well managed business, has a healthy Balance Sheet, continues to reduce operating costs and is maintaining a sensible IO hedging sales policy.


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## frugal.rock (29 August 2022)

Nothing like a near %15 divvy to hold up the price on a down day, yikes.


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## wayneL (6 December 2022)

Disclaimer: FA isn't really my thing, so struggling with the valuation on this one. 

PE 2.7?
Div 23ish%

What am I missing?


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