Australian (ASX) Stock Market Forum

FLX - Felix Resources

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It's straight on through the $5.00 barrier, as Felix finish up 15 cents to $5.05, the days high. Trading still remains quite light, 280,000 shares going through a little higher than usual. Moolarben is the continuing main factor and the background possibility of a bid if it goes forward with the Newcastle Port extension.
 
Felix Resources are ahead another 15 cents to $5.20 as investors concentrate on likely interest and value of Moolarben. Felix may well do better than expected on their interest in WPG's Hawks Nest and Peculiar Knob tenements in South Australia.
 
Interest in Felix Resources is building, that is trading is moving up to more acceptable levels. Trade went through a few minutes ago for 100,000 shares at $5.25.
 
Felix closed, once again, at a 6 year closing high, at $5.29. This followed the take-out stake by AMCI of 19.5% of Felix Resources. This should now put sales of thermal, PCI and semi-soft coking coal on a much firmer footing.
 
Goldman Sachs JBWere, said that AMCI could use their stake in Felix Resources as either a blocking stake or a launching pad.

Felix trade at $5.35, up 6 cents this morning. Felix stock has risen over 250% from its 2006 low.
 
haemitite said:
Whats your current take on Felix Noirua - its been an amazing ride over the last 12 months
Click to expand...


There is a lot of food for thought on what happened last week.

AMCI have about $1 billion available to invest after asset sales recently. Mr Brian Flannery, MD of Felix, has said that "AMCI would not be a passive investor and were interested in expanding into India" and he thought, "now was the right time to do that". Felix, Mr Flannery said, "would have a 9 mtpa production of thermal coal from the Moolarben open-cut mine and 4 mtpa from the Moolarben underground mine".
 
noirua said:
There is a lot of food for thought on what happened last week.

AMCI have about $1 billion available to invest after asset sales recently. Mr Brian Flannery, MD of Felix, has said that "AMCI would not be a passive investor and were interested in expanding into India" and he thought, "now was the right time to do that". Felix, Mr Flannery said, "would have a 9 mtpa production of thermal coal from the Moolarben open-cut mine and 4 mtpa from the Moolarben underground mine".
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Totally unbelievable! How much did u buy FLX for Noirua?

Date: 22/3/2007
Author: Andrew Trounson
Source: The Australian --- Page: 27
Queensland coal group Felix has gained AMCI as a 19.2 per cent investor, for which the US-based coal miner paid $A188 million. The founding shareholders, Ian McCauley and John Rawlins, received an unsolicited offer from a rival international group in mid-March, which led to AMCI's rapid response. The growing demand for thermal coal in Asia is part of the reason for AMCI's enthusiasm, which previously sold most of its Australian coal assets to Brazil's CVRD for $A835 million
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Btw Noriua what do u think of CEY?

thx

MS
 
michael_selway said:
Totally unbelievable! How much did u buy FLX for Noirua?



Btw Noriua what do u think of CEY?

thx

MS
Click to expand...


Hi m_s, I've been holding some shares in Felix since 1983, bought on many occasions and sold on a few, but always held some stock. Obviously showing a good profit on this one, however, "A profit is not a profit until it's Banked" and "A paper loss is a real loss". Good Luck
 
Quite a heavy fall for Felix today as investors digest all that happened last week. Hit a low of $5.00, down 30 cents, before recovering a little at $5.09, in light trading.

With RMM accepting $5.00 a share from AMCI there needs to be a pause for thought.
 
Felix trade at $5.20 at the moment as the AMCI situation settles.

AMCI may be holding the 19.2% stake in Felix for another interested party, IMHO. They have sold a lot of Aussie coal interests recently, nearly $900 million, and this does beg the question as to whether they are quite such solid holders as the MD of Felix seems to suggest.
 
Felix finished at $5.13, down 17 cents in extremely light trading.

The wife of Director, Mr A. Anthony Mclelland, sold the remainder of her holding in Felix Resources, 70,000 shares for an average $4.86.
 
Felix Resources fell away to trade at $5.00 as Fairfax News reported that "Felix would face a legal battle at Mudgee Mine" and "Xstrata in court bid to block Felix mine".
 
I don't believe many investors have a greta opinion of Xstrata so one can only hope they get pushed back into the pit with the other bottom feeders.
They are currently trying to take over LIM at prices most analysts describe as opportunistic. I just hope the defence does not cost too much out of the cash flow or delay the Moolarben start up.
 

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