Felix have fallen about a quarter from their years high as prospects for Moolarben move out to 2009, on a wait for increased loading facilities at the Newcastle Port.
Property, Land, Exploration and equipment purchases, ran down Felix cash to just $17.5 million. So everything is on a quick clearance of the legal matters overs Moolarben.
10% of Moolarben is sold to Soljitz and will bring in $90 million plus a share of development costs. A further 10% seems set to be sold shortly for the same additional figure.
Profits are set to rise on the back of increased coal prices and production in 2008 and MD, Mr Brian Flannery is very confident about the year ahead.
Felix have an interesting venture in India and are due to start further coal exploration at their Central South Australian Tenement.
Trading close to $4.50, Felix stock is now below the AMCI buying price of $5.00.
FLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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