Many a speculator moved into Felix, in the last few weeks, hoping for a takeover bid and dumped stock as the announcements appear to show that Moolarben is being sold off in 10% parcels, to pay for the A$300 million development of the open-cut and longwall mines.
Xstrata seem to have their eye off the ball, in taking Felix and the NSW Mining Warden to the NSW Supreme court over the access to moolarben, via the parcel of land they bought.
Could Xstrata or Peabody make an unlikely move to get up to 80% of Felix Resources by bidding well over the current price of $5.20.
How much would have to be bid to take out Felix with little chance of a counterbid ??????????
FLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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