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1.15%

43.0¢ fenix resources ltd

Ann: Dividend/Distribution - FEX, page-24

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malvernmoe

1,084 Posts.

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29/08/23

15:54

Post #: 69616463
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Originally posted by precis: ↑

There really is no reason for the share price to drop. Yesterday I wrote an email to a friend saying the net profit before tax would be $35 million which is pretty much the $29.3 million NPAT. The dividend is still a good percentage and there was no way it was going to stay at 5.25cps. The need to finance the new acquisition comes into play, and this still looks a good deal to me. The company has made a move to ensure it continues mining profitably for the next decade, and with the expansion into logistics that dovetails well with our mining exports, I think we are on the right track. I will say that in Q3 when the IO price was around $175AUD/t we obviously did substantially better than when IO was much lower, so a return to a higher price would certainly be welcomed. It's too early to feel disappointed, we just need a steady flow of announcements including continued shipments, progress on Shine to production, and third party contracts won be it transport or port storage leases.

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Would you be able to explain to me why you think the acquisition it’s a good deal to you? What is it specifically about the Shine mine that convinces you it’s a worthwhile purchase?

FEX Price at posting: 26.0¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 43.0¢		Change -0.005(1.15%)		Mkt cap ! $298.6M

Open	High	Low	Value	Volume
43.5¢	44.5¢	43.0¢	$1.702M	3.883M

Buyers (Bids)

No.	Vol.	Price($)
3	22023	43.0¢

Sellers (Offers)

Price($)	Vol.	No.
43.5¢	11896	2

View Market Depth

No.	Vol.	Price($)
3	22023	0.430
4	121676	0.425
8	260735	0.420
10	279766	0.415
6	122376	0.410

Price($)	Vol.	No.
0.435	11896	2
0.440	230684	4
0.445	100685	9
0.450	1530047	16
0.460	93500	4

Last trade - 16.10pm 31/07/2024 (20 minute delay)

FEX (ASX) Chart