worth watching....felix resources..flx

hi all anyone know about felix resources...flx
see below details..j/v with minotaur resources...

PRINCIPAL ACTIVITY
Felix Resources Limited (FLX, formerly Auiron Energy Limited) is a resource
based company focused on the operation of the recently acquired Yarrabee open
cut coal mine located in Queensland's Bowen Basin. FLX also has interests in the
Ballymoney Power Project in Northern Ireland and the SASE project in South
Australia.

YARRABEE: In October 2003, FLX completed the acquisition of the Yarrabee Coal
Company Pty Ltd (YCC). YCC owns 100% of the Yarrabee open cut coal mine located
in the Bowen Basin in Queensland. The company produces over 1Mtpa of thermal and
low volatile PCI coal and has annual revenues of over A$50m. The company has
defined coal reserves equivalent to 15 years operation producing 1Mtpa to
1.2Mtpa.

BALLYMONEY: The project revolves around the development of a mine and associated
power station in Northern Ireland. Ballymoney features a lignite (a low rank
coal) fuelled 600MW power station, capable of meeting local demand. FLX also
aims to expand into the markets of the UK and the Republic of Ireland. Measured
and indicated resources as at 30 June 2001 were estimated at 660Mt of lignite.
As at October 2003, FLX stated it intended to release value from the project
through the introduction of a power partner or sale.

EXPLORATION JV: A joint venture with Minotaur Resources Ltd for the exploration
for and development of base metal deposits on the SASE project area. Geochemical
soil samples taken in the September 2003q highlighted areas of anomalous gold
concentrations.

SASE PTY LTD (90%): Felix has title to five coal deposits in South Australia
near Coober Pedy in the Arckaringa Basin. Total coal resources as at 30 June
2001 were estimated at 15.8Mt. Iron ore resources as at 30 June 2001 were
estimated at 851.7Mt at an average grade of 35.90% Fe.

In June 2002, FLX announced that the company was discontinuing funding and
restructuring the South Australian Steel and Energy (SASE) project. In November
2002, FLX and Ausmelt Ltd reached an agreement to facilitate the global
marketing of Ausmelt's Ausiron ferrous smelting technology. The agreement passed
control of the Ausiron technology to Ausiron Development Corporation Pty Ltd
(ADC), a subsidiary of Ausmelt.