next boat, page-485

By the time the quarterly report gets out, FEX will have at least one maybe two more ships depart and another $13m margin after all costs paid into their bank. This stock has now been de risked completely as management is proving it is exceeding their promise. If the IO super cycle takes hold like people are predicting and the $AU weakens further against the $US they could exceed $175m EBITDA per annum. Question will be what they do with the cash. Drill to get more mine life with Scorpian tenement which has already been announced, buy another company and hopefully share holders will get a good dividend. They will have the cash to do it all by Xmas maybe we’ll before. Which ever way you slice and dice by end of the financial year this will be a 50 - 75 cent plus share at a minimum. IMO.