Australian (ASX) Stock Market Forum

FLX - Felix Resources

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michael_selway said:
Those forecasts are less than a week old

thx

MS
Click to expand...

Felix Resources Half Yearly Results are due in January 2007 and hopefully we will have updated forecasts then. You say yours are LESS than one week old?

Felix are at A$4.29 this morning in very light unconvincing trading.
 
noirua said:
Felix Resources Half Yearly Results are due in January 2007 and hopefully we will have updated forecasts then. You say yours are LESS than one week old?

Felix are at A$4.29 this morning in very light unconvincing trading.
Click to expand...

Yes Comsec, tells you when the forecasts were last updated

thx

MS
 
Reefer said:
Any idea what that means Noirua?
Click to expand...


Felix are slipping away at $4.15 today after going as low as $4.11. Market looks very nervous at the moment.

On the USA quote: I was told on an American forum that stocks that go bust or foreign stocks that cancel their listing on Nasdaq, the latter being Felix, allow American holders to sell their stock on the US Pink Sheets market as brokers in the States wont deal such stocks in any other way.
 
porkpie324 said:
Yes FLX have slipped this morning but not many for sale, I managed to pick up a few though. porkpie
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FLX are trading at $4.24, quite steady in this quite nervous mining sector. As you say Porkpie, " not many for sale ", and you'r also one of the few buyers.

We seem to be on some sort of plateau, and could be here for a while yet.

Half Yearly results should be out in a short while.
 
Felix are holding their ground well in light trading at $4.28, up 4 cents, and may move on to test the $4.40 high with the Half Yearly Results coming up in the next few weeks.
 
What prompted me to accumulate last week is I think that FLX have reached a plateau but on light volume, FLX rose on well above average volume on 20,21 & 22 Dec and only got sold off at the close on a few sales. I put a limit CFD order in on that day which was filled near the close. FLX closed last Friday just off the high so I'm already in the money and looking at more gain next week.
A few others have questioned my buying FLX of late but so far they have been an excellent trader. porkpie
 
Felix Resources Half Yearly results are due at the end of the month and they are expected to announce the very first interim dividend since formation in 1978, when they were floated at 25c NPV.

Everything is expected to have gone well in this first half with buckets full of cash having flooded in from percentage sales of mining and tenement assets. Interest alone will have covered the office running costs and sales may be in the region of 2.2 million tonnes of thermal, P.C.I. and semi soft coking coal, related to FLX. Profits in the first half alone should exceed the full years profit for Y.E. 30/6/06.


Wilson HTM forecast EBITDA for the full year ending 2007 at $88.3 million and ending 2008 at $117 million.
Profits from this, in the first half, excluding asset sales, should exceed $40 million, imho.
 
Felix Resources ( FLX ) produces, semi-soft coking coal, PCI coal and thermal coal from medium to high grade. The report below is good news for FLX as it looks as if agreed prices after March 31st 2007 will be agreed at higher prices than expected.

A downside is that the second half, ending 2006, costs for demurrage were at $5 million, and may not be improved on for the first half of Year Ending 2007.

Costs for fuel have been reducing during this last half year which should be a great help in the second half of 2007.

http://www.abc.net.au/news/items/200701/1820706.htm?newcastle
 
Noirua,
Bit worried after reading your reports on the continuing demurrage problems at Newcastle and the subsequent 21c drop in Felix SP, that the half yearlys may be at the printers and bad news was out in the "public" domain. But the SP appears to be recovering a bit now, and perhaps it was just some stop losses being triggered by the initial fall of 5c or so. Got over my panic, bought some more under $4, and should be OK based on the scenario for coal prices, and the blue sky that is Moolarben.
By the way are you Neill Arthur's love child - you seem to give him pretty good wraps on this and the UXA postings. I was a bit disappointed when he jumped ship after the smelter debacle, but he certainly did plenty for "Felix" up to that date.
 
Reefer said:
Noirua,
Bit worried after reading your reports on the continuing demurrage problems at Newcastle and the subsequent 21c drop in Felix SP, that the half yearlys may be at the printers and bad news was out in the "public" domain. But the SP appears to be recovering a bit now, and perhaps it was just some stop losses being triggered by the initial fall of 5c or so. Got over my panic, bought some more under $4, and should be OK based on the scenario for coal prices, and the blue sky that is Moolarben.
By the way are you Neill Arthur's love child - you seem to give him pretty good wraps on this and the UXA postings. I was a bit disappointed when he jumped ship after the smelter debacle, but he certainly did plenty for "Felix" up to that date.
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Hi, I get your point about Neill Arthur and my only response is that I'm a bit older than him. He was infact forced to resign shortly after the Demonstration Plant caught fire and a majority of Directors decided not to go ahead with the one of the five module smelters near Whyalla.
The subsequent rise in Pig Iron prices, shows there was much said by Neill Arthur that was correct in his 2002 forecasts. Still, that is all done and dusted now and I guess that he has no further interest in it.
You can still pick up information via the ASX website.

There is a lot of negative news out there on mining stocks, so it's a time to be careful. The brave quite often hit the jackpot however - good luck with your buying.
 
Hey Noirua
Do you happen to live in inner suburbs Melbourne? Your posts on Neill Arthur, Ausmelt and Felix remind me of someone I crossed paths with a few years ago in the heady days of Meekatharra.
 
Reefer said:
Hey Noirua
Do you happen to live in inner suburbs Melbourne? Your posts on Neill Arthur, Ausmelt and Felix remind me of someone I crossed paths with a few years ago in the heady days of Meekatharra.
Click to expand...

Your quite a long way out as I'm not in Australia. That may change in the not too distant future. Never lived in Melbourne. Never spoken to Neill Arthur except to put a question at meetings in 1999 and 2000.

Take care with your buying of risky stocks in these markets, keep plenty of cash, imho.
 
Up four cents this morning in quite light unconvincing trading at $4.02, about 10% off the recent high.

Half yearly report was out last year on 31st January, so I expect the nervousness to continue for a while.

Difficult to say how the shares will react to the half yearly report; The results of which will be outstanding on the cash from sales front, as well as coal sales. Moolarben is where all eyes are feasted as results of a go ahead are awaited from the NSW State Government.
 
Its tricky with FLX at the moment, so I reduced my open positions last Friday took a small loss but better than a possible big loss. porkpie
 
porkpie324 said:
Its tricky with FLX at the moment, so I reduced my open positions last Friday took a small loss but better than a possible big loss. porkpie
Click to expand...

Hi, Interesting move and there is no way of knowing if your right or wrong as yet. Half yearly result to come and the Moolarben factor could take FLX either way - High Risk sector, so, if your nervous best to get out.
 
Felix recovered to $4.10 yesterday in usual light trading. The stock fell with the mining fall around new year and it will be interesting to see if it gets back ontrack; That is, continue the upward march from $1.54 that was started in June 06.

An announcement of a go ahead on Moolarben and Harry Brandt would be bullish for FLX. If there is no announcement ( this could hold up Moolarben ) and the Half Yearly is anything less than the market expects ( market may be looking for $40 million EBITDA at half way and an interim dividend of around 4 cents ) the shares may reverse.
 

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