Felix Resources and Gloucester Coal have much in common.
Felix have coalmines in the Hunter Valley and the future Moolarben Mine near Xstrata's Ulan Mine, and use the Newcastle Port. Felix have a 15.4% interest in the expansion of the port.
Gloucester Coal has its mines in the Gloucester Valley and has good rail stock and uses the Newcastle Port. But has future concerns about use of this port as their coal reserves and production expand.
Xstrata's bid for Gloucester Coal in Feb 2007 as they saw savings in a purchase of the company: The bid failed. Felix Resources would see similar savings and Gloucester Coal a better chance of using the expanded port at Newcastle.
AMCI are major shareholders in both Felix Resources and Gloucester Coal.
FLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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