Following the issue of the near 200 page White Mining merger document there appears little upside in the stock in the shorter term. FLX is in a very strong sector so should still trade in the $2.40 - $2.80 range.
The reason for the stock not continuing on up is the raising of $50 million via a share placement and share purchase plan. The merged entity will have debt of $39 million. The estimated $360 million of investment required is about twice Felix's market capitalisation prior to the merger.
Felix estimate that profits will be $10 million for the year ending 2005, rising to $81 million for company year ending 2006.
Following the issue of the near 200 page White Mining merger...
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Last
21.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.29M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.0¢ | 20.5¢ | $77.24K | 367.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 27845 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 27204 | 2 |
View Market Depth
| Last trade - 15.51pm 10/09/2025 (20 minute delay) ? |
| FLX (ASX) Chart |