The new year is on its way and I hope will we all get every penny back on Felix Resources with a good profit to boot ( formerly Auiron Energy / Meekatharra Minerals. )
The following is my view, though not dollar perfect and repeats much said in previous postings by myself and others:
At the last analysts review in July 2006 the value of Felix was put close to A$1.2 billion which included a near A$800 million valuation of Moolarben.
Since July 2006, Moolarben funding has been completed by the sale of 49% of Yarrabee and two sales of Minerva and Athena.
Hawks Nest has now gone, with a sale by the 90% Felix owned subsiduary S.A.S.E. with royalties on production. Felix also have a stake in Western Plains Resources ( formerly a holding in Southern Iron which was taken over by Western Plains Gold now renamed Western Plains Resources ) with iron ore production set for early 2008.
Phillipson is also being ligned up for a completion sale before March 2007 with Flinders due to let Felix know of their decision.
At the closing price on Wednesday, A$4.31 Felix have a market capitalization around $810 million.
Felix valuation has now risen, IMHO, to between A$1.4 and A$1.5 billion or up to A$8.00 a share.
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