Hi Mr Poshman,
I agree 50% return in two years is an excellent winner. Well done.
It is useful that Malvernmoe will read that you have acknowledged that it is "clear to see that costs (on a C1 basis) have come down by about 10%, or around $7 per tonne from the last half which is great" and that you "agree the Fenix-Newhaul acquisition has had some part to play in the cost reduction". I agree with you on this.
I note your comments on DD&A and the difficulty on calculating the exact benefit of the FN transaction. However, it seems we can all agree that the net benefit was $7 and that it is highly likely that this was the result of a gross C1 saving of MORE than $10/t from FN deal offset by cost increases in fuel, wages, contractors, etc. To my analysis there is no other explanation of the reported numbers given the rise in fuel and other costs and the audited performance. Can you answer the question that Malvernmope has ignored? If not from the FN transaction, where did the cost reductions come from that more than offset cost inflation and fuel rises?
On your comments on Investor relations: have you listened to any of the webinars or read the announcements? Welborn has been specific and consistent in claiming a "more than $10/t saving as we expected". In fact, to quote you, he has literally been "screaming from the rooftops" about the savings. This is something that Malvernmoe has repeatedly discounted as "just words" and "made up facts" etc, I am not sure what more the company could have done to promote the $10/t saving? It has been consistently mentioned and explained. The challenge on these HC threads is that Mal does not respond to factual analysis and, as many have now realised, is simply deflecting and venting a personal gripe. He claims the high ground (including using your sound analysis inappropriately) without any genuine factual support and certainly without merit.
I agree with your comments and analysis on the iron ore price and the risk to fenix. I strongly suspect this is also high on the agenda of management and a key driver for the FN transaction and other changes made over the last two years including the exit of Rob B.
I hope you do well and find the justification to get back into FEX before anything BIG happens on the growth agenda.
Good luck!
J9
- Forums
- ASX - By Stock
- FEX
- Ann: Half Yearly Report and Accounts
Ann: Half Yearly Report and Accounts, page-100
-
- There are more pages in this discussion • 91 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FEX (ASX) to my watchlist
|
|||||
Last
30.5¢ |
Change
-0.015(4.69%) |
Mkt cap ! $219.7M |
Open | High | Low | Value | Volume |
31.0¢ | 31.5¢ | 30.0¢ | $274.8K | 894.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 292300 | 30.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.5¢ | 2267 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 292300 | 0.300 |
8 | 267366 | 0.295 |
12 | 254479 | 0.290 |
11 | 354039 | 0.285 |
22 | 546584 | 0.280 |
Price($) | Vol. | No. |
---|---|---|
0.305 | 2267 | 1 |
0.310 | 133176 | 4 |
0.315 | 88176 | 2 |
0.320 | 148613 | 4 |
0.325 | 122485 | 3 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
Featured News
FEX (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online