FEX 3.92% 24.5¢ fenix resources ltd

If we use $15m to build the haul road between W11 & IR, then it...

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    lightbulb Created with Sketch. 78
    If we use $15m to build the haul road between W11 & IR, then it took $15m to start IR 5 years ago, let's say $20m to start W11, probably more.

    $88m at Mar in bank, let's say another $5m/mth due to the subdued IO price gives us $103m in the bank @June.

    $103-35m = $68m

    I'm thinking with the performance shares just around the corner, from memory there were 20m, gives us ~ 654m SOI.

    18/654

    2.75c

    I'm thinking they'll keep $50m in the kitty.

    AIMO

    thoughts?

 
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