Okay folks, been watching this for a few months and now it's time to act for me.
FXR is primarily a nickel and copper play, currently producing and looking to expand. Has been tidying up some deals atm, all finished now from what I can see. Brett Matich, Managing Director is also the MD of Aztec Resources AZR and has some big international investors on his register. See co website http://www.foxresources.com.au for a broker report).
Capital raising led to some dilution which, as you will see from a chart, saw the sp trend down. It's now broken the downtrend on high volume and has settled above support at 45c. I reckon this is cheap considering where it was a year and go and with Nickel firming and recent transactional risks now dissipating.
FXR about to break 50c imo, June 2007 options FXROA provide great leverage, commenced trading in Dec 2004. Currently trading at 11c (all time high 16c), I expect it to go up by 40-50% in the nearterm based on the charts (but I've been wrong before!).
Intersuisse has apparently picked this as their junior nickel producer of choice- that was in January 2005 when FXR was above 50c, so even better value now imo.
With Nickel prices widely expected to surge this year FXR will provide great leverage. It's currently conducting exploration to increase resources and prolong mining operatons. Nickel operation take time to set up so getting into a current producer with more exploration upside ensures it can take advantage of high nickel prices before they start to fall in a couple of years or so.
Downside risk technically is a break below 45c but with current buy depth and volume it looks like the price is about to start the steady move upwards.
The Bulletin's David Haslehurst seems to like this stock (he bought it at 65c) some extracts on the FXR website under 'broker presentations'. I'm looking to enter because of TA trend backed up by sound fundamentals and a strong Nickel price which will provide added leverage in the coming year.
I'll post a chart later, any other holders?