FEX didn't take away anything IMO, MANAGEMENT changed the Dividend policy which IMO telegraphed to the market a change in the company's objective, from just mining Iron Ridge until exhausted, doling out CASH/dividends when surplus CASH existed.
This would have left the company with no resources, and rehabilitation costs once mining ceased.
I don't know many companies who raise money from the market, then repay 4 times that value in dividends (excluding franking credits), then run the mine until it's exhausted, leaving themselves without a job. Maybe a private company, but not an ASX listed company.
The new Western Force is, LOVE IT OR LOATH IT, the way the current management has positioned the company. No matter how much whinging about SP this or Poor MANAGEMENT that, will change it.
As you previously stated, trading FEX can be profitable, but the major reason for the depressed SP is the price of IO. MANAGEMENT have implemented a much derided HEDGING policy, which is currently probable.
As much as I would love JW to export GUM NUTS profitably, it doesn't appear that anyone wants to import GUM NUTS, so FEX will continue to grow inventory, IO, reduce costs wherever possible, INCREASE TONNES SHIPPED, and continue to exploit opportunities in the Midwest.
DYOR AIMO
FEX Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)