Company
Fenix Resources Ltd
ASX:FEX
Fenix Resources is a fully integrated mining, logistics and port services business targeting to achieve an annual production rate of 4 million tonnes of iron ore during 2025 from its assets in the Mid-West region of Western Australia. High quality iron ore products are transported by road to Geraldton using the company’s 100% owned Road Logistics business.
61 stories
Iron ore stocks close December on a tear, but what looms in 2023?
This steelmaking commodity seesawed between the green and the red for the better part of a year before pricing improved in the December quarter.
Fenix Resources passes two million tonnes iron ore production milestone
"In less than two years Fenix has established a highly profitable business in the Mid-West which has created more than 200 new jobs and generated more than $100 million in cumulative net profits after tax,” said chairman John Welborn.
Fenix Resources taps new chief financial officer and non-executive director
FEX intends to build on its financial platform and explore further opportunities for value creation with the addition of Stuart Ausmeier as chief financial officer and leverage Craig Mitchell's experience in logistics operations and in buil
Fenix Resources takes ownership in haulage business to 100%; begins leadership transition
“The recently achieved step-change transaction consolidating 100% ownership of Fenix-Newhaul has positioned Fenix for a period of exciting transformational growth and provides the perfect platform to enhance our leadership team," Fenix chai
Fenix Resources moves to full ownership in Mid-West haulage business
By acquiring Newhaul’s 50% stake, Fenix believes it can lower operating costs while delivering higher earnings and dividends for shareholders.
Fenix Resources extends iron ore swap arrangements for 50,000 tonnes per month to June 2023
The new iron ore hedging extends FEX’s existing swap arrangements for 50,000 tonnes per month up to and including September 2022 fixed at a price equivalent to A$230.30 per dmt.
Fenix Resources secures 100% of iron ore rights to property contiguous to Iron Ridge operations
“The opportunity to expand our regional footprint and seek to add to our existing iron ore resource inventory is an obvious value add for Fenix,” says chairman John Welborn.
Fenix Resources delivers “outstanding production performance”, ships record 357,000 tonnes from Iron Ridge Project
“We finished the quarter with a strong balance sheet with net cash of $54.9 million, equal to $0.11 a share, and expect to build on this solid position during the second half of the financial year.”, says MD.
Fenix Resources completes 1 million dry metric tonnes sales milestone at Iron Ridge
This achievement triggers the conversion of the 30 million Class B performance shares to ordinary shares in the company.
Fenix Resources appointment of successful mining executive as director signals appetite for growth
New appointee John Welborn is a champion for responsible and sustainable mining development and was named by MiningMx as one of the 100 Most Influential People in Africa’s Mining Industry.
Fenix Resources higher on delivering $25 million net operating cashflow and distributing maiden dividend
“Given the current circumstances in the iron ore industry, this is a strong result which saw Fenix generate substantial free cashflow as increased production and a lower Australian dollar helped offset reduced iron ore prices," says MD.
Fenix Resources makes strong progress on Iron Ridge Project with maiden dividend for FY21
The company unveiled its dividend policy and declared a maiden dividend of 5.25 cents per share fully franked.
Fenix Resources achieves FY21 unaudited sales revenue of $113 million at iron ore operations
“Our unaudited financial results illustrate the rapid and relatively seamless execution of our project delivery strategy. We have hit the ground running and taken advantage of robust iron ore prices," says MD.
Fenix Resources locks in pricing for 45% of planned iron ore production in swap arrangements
The ASX-lister’s iron ore swap arrangements fix a sales price over 45% of iron ore production that’s sufficient to cover the majority, if not the entirety, of its budgeted cost base.
Fenix Resources and Scorpion Minerals expedite drilling over Pharos Iron Ore Joint Venture
The iron ore joint venture, which forms part of Scorpion’s Pharos Project, spans 373 square kilometres and lies immediately adjacent and contiguous to Fenix’s Iron Ridge operation, with multiple iron ore targets already identified across 15
Fenix Resources managing director shows faith in company with early exercise of options
Robert Brierley has exercised 2 million unlisted options exercisable at $0.08 each and due to expire on November 21, 2021, with a total value of $160,000.
Fenix Resources targets incremental growth plans after establishing itself as a new bona fide high-grade iron ore miner
Its high-grade Iron Ridge Project in WA is performing ahead of expectations and attracting market premiums, with the company now in “cash harvest mode”.
Fenix Resources boosts iron ore production by 27% in June quarter
The fledgling iron ore producer shipped nearly 281,000 tonnes of product in the June quarter, up 27% on the previous quarter.
Fenix Resources director demonstrates confidence in iron ore producer through on-market purchase
The company has appointed Scorpion Minerals to plan, manage and execute the early exploration phase at Pharos.
Fenix Resources chairman demonstrates confidence in iron ore strategy with on-market purchase
The company has appointed Scorpion Minerals to plan, manage and execute the early exploration phase at Pharos.
Fenix Resources director shows confidence in iron ore strategy by early exercise of options
Non-executive director Garry Plowright on June 4 exercised 2 million unlisted options that were due to expire on November 21, 2021, at $0.08 each.
Fenix Resources adds law and commerce expertise to board with non-executive director appointment
The company’s 100%-owned, flagship Iron Ridge Iron Ore Project is a premium DSO deposit that hosts a JORC 2012-compliant resource located around 486 kilometres by road from Geraldton port.
Iron ore price surges as strong demand from China leaves supplies stretched
Fenix Resources recently made a strong start to life as an iron ore producer while Fe Limited aims to begin shipping iron ore product in the current quarter.
Fenix Resources hopes to add to iron ore resources from adjoining Pharos JV
The company has appointed Scorpion Minerals to plan, manage and execute the early exploration phase at Pharos.
Fenix Resources makes strong start as iron ore producer with shipments totalling 220,000 tonnes
The company expects a surge in production and shipments in the coming quarters in line with the streamlining of steady output at the project along with a likely fall in capital expenditures.
Fenix Resources resumes haulage from Iron Ridge Mine in WA following Cyclone Seroja
The company suspended road haulage to its Geraldton port storage facility on Sunday, April 11, and this has now resumed with electricity supplies in Geraldton restored.
Fenix Resources iron ore mine at Iron Ridge not impacted by Cyclone Seroja
The company suspended road haulage to its Geraldton port storage facility on Sunday, April 11, and expects to resume haulage as soon as electricity supplies in Geraldton are available.
Fenix Resources passes new Iron Ridge milestone on reaching steady-state production
Completion of the ramp-up means that the iron ore miner will now be able to schedule two shipments per month of around 60,000 wet metric tonnes each.
Fenix Resources appoints interim non-executive chairman in Warick Davies
The board has thanked outgoing non-executive chairman Garret Dixon for his support during the company's transition from explorer to iron ore exporter
Fenix Resources dispatches maiden shipment of Iron Ridge product
The Western Australian high-grade iron ore producer’s maiden shipment has departed Geraldton Port on the Ya Tai 2 carrier.
Fenix Resources' maiden iron ore shipment from Iron Ridge delayed with next shipment scheduled
Fenix is pursing all available opportunities to export its iron ore products to cover the likelihood that the Ya Tai 2 will not be able to complete loading as originally scheduled.
Fenix Resources farms into Scorpion's iron ore rights adjoining Iron Ridge project
Fenix can earn 70% of the iron ore rights by sole funding exploration and resource definition drilling to identify up to 10 million tonnes.
Fenix Resources continues to progress Iron Ridge Iron Ore Project with first shipment set for early February
The December quarter was busy. In addition to signing port access and service agreements with Mid West Ports Authority, operator of the Port of Geraldton, FEX also acquired existing port facilities at the port.
Fenix Resources higher as iron ore production begins at Iron Ridge in WA
The WA-based minerals explorer is transitioning to miner with production underway and the first shipment expected to take place in late January or early February next year.
Fenix Resources hits 9-year high on securing port access at Geraldton for iron ore exports
Binding agreements with Mid West Ports Authority secure a port allocation of 1.25 million tonnes per annum of iron ore to be exported utilising the Berth 5 shiploader.
Fenix Resources strengthens board with iron ore expertise by appointment of non-executive director
The company’s 100%-owned flagship Iron Ridge Iron Ore Project is a premium DSO deposit which hosts a JORC resource and is around 490 kilometres by road from Geraldton port.
Fenix Resources executes road transport contract for Iron Ridge
The company plans to commence the $360 million contract with Fenix Newhaul for the estimated six-year life-of-mine in December 2020.
Fenix Resources eyes off first iron ore shipment from Iron Ridge Project in early 2021
Production is on track to start later this year and the first shipment from the premium direct shipping ore deposit is scheduled early next year.
Fenix Resources awards mining and crushing contract for Iron Ridge to MACA
Early-stage works have begun with open pit mining and crushing and screening operations due to commence in the current quarter.
Fenix Resources executes binding iron ore offtake with Sinosteel and purchases Geraldton port facilities
The Iron Ridge project is on track to begin production later this year with first shipment and sales scheduled for early 2021.
Fenix Resources upgrades Iron Ridge mineral resource by 84%
Metallurgical test work including a determination of lump to fines ratio is well advanced with results expected in April 2019.
Fenix Resources receives high-grade assays, extending the iron ore resource at Iron Ridge
Drilling was designed to improve the confidence level of the mineral resource as well as test the strike and depth of the mineralisation.
Fenix Resources intersects high-grade iron ore in Iron Ridge resource definition drilling
The company expects results from metallurgical work to be available in February and a new mineral resource to be completed in March.