Personally I think this is a great announcement. I first bought...

Personally I think this is a great announcement. I first bought Fenix around 4 years ago, sold around 2 years ago and now I'm moving back in.

During my initial investment these HotCopper threads were full of conversations regarding dividends, and the dividends were great. Fenix was consistently delivering good quarterly's. The problem (my reason for selling) was longevity, Iron Ridge on its own wasn't enough for long term confidence.

Read the latest 10 announcements and it's clear that long term investors can confidently move back in, I predict they will, along with the soph's. Fenix has an asset value & cash on hand that equates to a number not to far from their MC, that's a value investors dream.

Another overlooked aspect is how diversified this company is becoming. this is being spun off as a negative because so many investors came here for the iron ridge, iron ore. Small Iron ore companies have always struggled when the ore price drops. Fenix seems to be prepared for that.

Positive fundamentals and the addition to the all ords index should have a positive effect.

At this stage the Athena investment appears to be a risky one but obviously there's a bigger picture here, I won't make assumptions.
1m for 30% ownership is reasonable. I guess we have to watch how this story unfolds.

And finally the 70m haulage contract. 23m a year in revenue, i'm not complaining.

Good luck everyone.