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The publicly-listed company posted favourable full year figures compared to 2003, primary mining activity rising 22%, coal production up 14% and coal sales up by 38%.
June quarter performance was varied compared to the 2003 June quarter, overburden removal increasing 36% to 3.7 bcm, coal production decreasing two percent to 342,000 tonnes, and coal sales up by 38% to 400,000 tonnes.
Demurrage costs put a dampen on results, costing Felix $368,880 for the quarter and $1.86 million for the full year. Demurrage was significantly higher than normal because of the lack of coal stocks and congestion at Gladstone port.
Felix plans to rebuild coal stocks to adequately support budgeted sales of 1.7 million tonnes over FY2005.
