Hey All, Here is a fun fact if we take the numbers and annualize...

Hey All,

Here is a fun fact if we take the numbers and annualize them out of FEX's Qtrly cash flow report, at recent iron ore prices (note they are high) and if i apply the tax portion to the earnings (i know about the tax losses the company has, let's include tax anyway), this companies earnings if things stayed the way they are on the iron ore market.
The company will earn it's market cap in just over 6 months with the 30% j/v take.

But let's not get ahead of ourselves and put the cart before the horse, we still need to prove the resource up there at pharos which is in the pipeline.

Then we have all the assets outside of iron ore too.

Still not bad value at the moment, and i know we are about/atleast 1.5 years away from producing pharos.

Just wanted to share thats all.

Good luck all.

Rooks