The merge will create a company with significant coal assets and with the two current operating mines yarabee & ashton will more than double coal sales to 3.3mtpa with minerva starting next year with 2 other deposits 100% held to come on line in the future. They also have patents over clean coal technology and a pilot plant in nsw.
Felix to issue 820,000,000 new shares to white mining in consideration followed by a 1 for 10 share consolidation next year. 55.3% of felix to be issued to white mining.
possible capital raising in the future
with the strength of coal sales and prices which look to continue into 2006 & longer..... together with managed funds transferring out of newscorp..... this new company may well spring up on the radar of these fund managers.
high high tommorrow? anyones guess
FLX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
