Fenix Resources Ltd
ASX:FEX
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Fenix Resources Ltd
Fenix Resources Ltd. is a minerals exploration company. The company focuses on its 100% owned flagship Iron Ridge Iron Ore Project. The firm operates through two segments: Iron Ridge Project and Trucking Joint Venture. The Iron Ridge Iron Ore Project is located approximately 600 Kilometers north-northeast of Perth and approximately 67 kilometer northeast of the township of cue in the Murchison region. The firm holds three licenses (L20/83, L20/84, and L20/85) in Iron Ridge Iron Ore Project.
Fenix Resources Ltd. is a minerals exploration company. The company focuses on its 100% owned flagship Iron Ridge Iron Ore Project. The firm operates through two segments: Iron Ridge Project and Trucking Joint Venture. The Iron Ridge Iron Ore Project is located approximately 600 Kilometers north-northeast of Perth and approximately 67 kilometer northeast of the township of cue in the Murchison region. The firm holds three licenses (L20/83, L20/84, and L20/85) in Iron Ridge Iron Ore Project.
Record Quarter: Fenix reported another record quarter with 15 iron ore shipments totaling 885,000 wet metric tonnes, marking its highest ever.
Strong Margins: The average realized price was AUD 147.60 per dry metric tonne, while C1 cash costs were kept at AUD 75.70 per tonne, generating robust margins.
Growth Project Secured: Fenix secured a 30-year exclusive right to mine the Weld Range Iron Ore Project, seen as a major game changer for long-term growth.
Production Guidance Maintained: Guidance for FY 2026 remains at 4–4.4 million tonnes of production and C1 cash costs between AUD 70 and AUD 80 per tonne.
CapEx & Cash: Despite AUD 13.1 million CapEx and a AUD 20 million payment for the Weld Range acquisition, Fenix increased its cash balance to nearly AUD 58 million.
Dividend Paid: Nearly AUD 8 million was paid out in fully franked dividends, with a clear policy to continue annual payouts.
Expansion Plans: Feasibility study underway for a 10 million tonne per annum operation, targeting FY 2029, with ongoing cost reduction and infrastructure initiatives.
