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.Iron is as cold as ice right now but FEX looks good at 28 cents.
Slight correction mate.. FEX have hedged 45% of their production commencing from 1st October 2021 through till October 2022.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.
This dividend represents 18.1% of the closing share price yesterday. Noice.
Any drop or rise of SP is speculation,...? however divvy scalpers normally sell the trading day before the record date.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 !!!That's nuts. Do you reckon the sp drops 5c on the record or distribution date?
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
Today is the trading day before record date...scalpers normally sell the trading day before the record date.
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)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
Iron Ore shot up about +10% overnight should fuel FEX share price to crack 0.24c+ imo dyorFEX ticking up nicely @ 0.235c +4.44% and with patience am still eyeing that "open gap" to 0.295c
Very good Quarterly released by FEX as now trading @ 0.26c +10.64%Cashflow this quarter pretty well covered the dividend.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?