Felix Resources are up to $3.49 this morning on the back of the Moolarben Project, Ashton Longwall Mine development, and sale, with royalties, of the Hawks Nest and Peculiar knob iron ore tenements.
An agreement to go ahead on the South Australian, Phillipson sub-bitumous coal tenements by Flinders is expected soon. They may decide to buy the rights to the 5 billion tonnes of steaming coal or go ahead with the agreed royalty arrangement.
Even Felix's 21.5% stake in the ADC project is going well ( Ausmelt are Managers ) and this company may be floated on the ASX or Felix will receive shares in Ausmelt to add to their 2.5% holding.
Mines at Yarrabee, Minerva and Ashton Open-cut are all going to plan with the Athena tenement, near Minerva, nearing development.
Harry Brandt, open-cut mine, is also closer to development.
Xstrata and Peabody have mines close to Felix's Moolarben Project in NSW. This is a reason for talk that either may be interested in Moolarben.
FLX Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
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