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FEX

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4.94%

38.5¢ fenix resources ltd

Ann: Iron Ridge Project site works commence, page-15

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CatsnDogs

1,470 Posts.

70

23/09/20

10:44

Post #: 47557549
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Originally posted by Gurblegrump: ↑

Agreed, an offtake is vital for any re-rate to occur and I feel this is the most critical component left for the project to be a success.

IO is drifting down if you look at the week trend, however there are no signals to suggest that it will keep going down. Worldwide infrastructure projects will consume a huge volume of iron and supply will not be able to catch up anytime soon. I hope FEX do not fall into the trap of selling on current IO sentiment as opposed to the general IO trend.

The huge volume of sellers highlights the type of investors which picked up shares through Hartley's - quite a large portion just after a quick entry and exit. This will only be resolved by huge volume brought about by off take news otherwise we will be in a stalemate at current levels for a little while longer.

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Yep - had retails buyers and long termers lining up but they chose to give it to insto's who were always going to dump...
Was going ok until then......

Offtake ann cant be far away given they said well advanced a month ago????

FEX Price at posting: 13.8¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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(20min delay)
Last 38.5¢		Change -0.020(4.94%)		Mkt cap ! $267.4M

Open	High	Low	Value	Volume
40.5¢	40.8¢	38.5¢	$1.126M	2.841M

Buyers (Bids)

No.	Vol.	Price($)
11	151027	38.5¢

Sellers (Offers)

Price($)	Vol.	No.
39.0¢	201127	2

View Market Depth

No.	Vol.	Price($)
10	150027	0.385
10	790930	0.380
6	186349	0.375
11	300633	0.370
7	320924	0.365

Price($)	Vol.	No.
0.390	201127	2
0.395	175608	2
0.400	350008	4
0.405	253998	3
0.410	112500	8

Last trade - 16.10pm 17/07/2024 (20 minute delay)

FEX (ASX) Chart