proposed acquisition of white mining, page-3

The merge will create a company with significant coal assets and with the two current operating mines yarabee & ashton will more than double coal sales to 3.3mtpa with minerva starting next year with 2 other deposits 100% held to come on line in the future. They also have patents over clean coal technology and a pilot plant in nsw.

Felix to issue 820,000,000 new shares to white mining in consideration followed by a 1 for 10 share consolidation next year. 55.3% of felix to be issued to white mining.

possible capital raising in the future

with the strength of coal sales and prices which look to continue into 2006 & longer..... together with managed funds transferring out of newscorp..... this new company may well spring up on the radar of these fund managers.

high high tommorrow? anyones guess