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FLX - Felix Resources

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Closed just above the $2.00 level, hopefully about to break strongly out of the $1.80 to $2.00 range. Awaiting an announcement from the new MD shortly.
 
noirua said:
Closed just above the $2.00 level, hopefully about to break strongly out of the $1.80 to $2.00 range. Awaiting an announcement from the new MD shortly.
Click to expand...

yeah hopefully soem good news, they atm cant be trusted imo

missed their forecasts by like 50%!

thx

MS
 
michael_selway said:
yeah hopefully soem good news, they atm cant be trusted imo

missed their forecasts by like 50%!

thx

MS
Click to expand...

All is quiet at camp Felix at the moment, as the dust settles and the sunsets over the Parker reign. They need to do deals as the cash situation could become increasingly difficult both this year and next. There are signs that coal is being sold more quickly, as profit margins have fallen following the PCI coal sold as thermal problem.

Financing Minerva cost about $62 million and much more was needed for Ashton Underground and Moolarben open cut. Following this there are extra costs for the Moolarben Underground, Harrybrandt and other projects. There are further thoughts on ADC ( 21.5% interest ) and whether the Phillipson and Hawks Nest tenements are at long last going to be fruitful.

The new MD needs to revive confidence that has plunged of late.
 
The six major shareholders now have over 65% of the shares of Felix Resources and the company has chosen to freeze information on their bulletin board. Gaffwick and Ilwella notably increased their share holding.

Major holders are: RMM 17%, Gaffwick 15.5%, Ilwella 15.5%, Fibora 7.5%, Greenworth 5% and Leopold Station 5%.
 
Felix Resources Coal Shipments from Gladstone Port, RG Tanna Terminal:

40,100T - Azu Cielo -- 10/5/06 - Yarabbee
52,800T - Marjatta P - 9/5/06 - Yarrabee
16,500T - Atlar ------ 9/5/06 - Yarrabee
134,100T - Monalisa -- 9/5/06 - Minerva
75,000T - Cape Orchid 6/5/06 - Yarrabee
16,000T - Brilliant River 10/5/06 - Yarrabee
33,000T - CS Rainbow 26/4/06 - Minerva

Total tonnage in the period is 376,500T. There were no indications to say the type of coal being shipped.
 
Felix are continuing to fight their way out of the profits downgrade position they were in, just before MD Jon Parker left the helm. Coal sales are moving along well, with 367,500 tonnes to be moved in the two week period to 10/5/2006.
FLX should move out of the $1.80 - $2.00 range and creep on up towards $2.40.
 
Felix have moved ahead to close at $2.12 and are now out of the $1.80 - $2.00 rut they have been in for sometime. Coal stocks are set to move on after a long period in the gloom, IMHO.
 
Felix have held up well at $1.90 today, quite a performance for a weak stock, as commodity shares crash.
Thoughts that Moolarben's increased coal reserves and low costs will raise profits dramatically by 2008. Extra profits from the Phillipson coal reserves and Hawks Nest Iron Ore reserves may arrive at the same time.
The Ausmelt 2.5% shareholding and likely value of the 21.5% holding in Ausmelt's ADC are further factors.
 
noirua said:
WisonsHTM have upgraded Felix Resources to a " BUY " and say, " Moolarben is significantly under-valued. "

http://www.felixresources.com.au/analyst_reports/20060508_Wilson_HTM.pdf
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Yeah they how low forward PE (good growth in EPS)

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 11.3 24.8 20.5
DPS 2.0 3.4 6.8 6.1

EPS(c) PE Growth
Year Ending 30-06-06 11.3 16.7 12.1%
Year Ending 30-06-07 24.8 7.6 119.5%

However, they missed their forecasts by 50% last year, just cant be trusted!

But might be once off who knows

thx

MS
 
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