I noticed Fenix (FEX) have just completed further hedging on iron ore price at A$170/tTo put this in perspective Red Hawk used the Platts forecast of US$89/t for their recent Scoping Study. US$89 is about A$140t. So Fenix are locking in a sale price of A$30/t more than the forecast price used in the study.
What would it mean if Red Hawk were to realise the same price? It means an extra A$30m pa if shipping only 1 mtpa BUT an extra A$90m pa if shipping 3 mtpa! That is almost Red Hawk’s current market cap! And repayment of debt instead of around 3 years could be about just 2 years. And then dividends?
See Fenix announcement https://www.investi.com.au/api/announcements/fex/922a71f5-f00.pdf
GLTA
I noticed Fenix (FEX) have just completed further hedging on...
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Last
77.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $153.8M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 339 | 79.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.0¢ | 10000 | 1 |
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| Last trade - 16.12pm 02/10/2024 (20 minute delay) ? |
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