Willson HTM upgraded their forecast price for FLX to A$5.40 - since then the price has descended to A$2.51.
Either the market is wrong or HTM are.
Felix haven't put a foot wrong really. Minerva's first coal is to be shipped out in early December and Yarrabee is heading for 500,000 tonnes this quarter.
The demurrage problems have been overcome this quarter.
The prospective PE at A$2.50 is 6.5 for 2006. If coal prices fall by 20% in 2007, then expected profits may well be similar to 2006.
IF coal prices remain the same in 2008, as 2007, the PE should fall to around 4.
By 2011, if coal prices rise with costs from 2008, the PE at A$2.50 should fall to around 2.
The above forgets Harry Brandt,... Phillipson and Hawks Nest in South Australia,... Ballymoney, Northern Ireland,.. ADC ( Ausmelt Managers ) and the Gold Royalties due on tenement sales in Feb 2003.
Guesswork is a hard thing and it is unlikely my guesses will turn out right. Hopefully not that far wrong, however.
FLX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)