Fenix has fulsome profit quarter at Iron Ridge

Highly profitable iron ore junior Fenix Resources has ended the quarter with net cash of A$93 million, though nearly $25 million subsequently flowed the way of shareholders earlier this month as dividend payments (reports MiningNews).
14th October 2021

Fenix loaded six ships at Geraldton during the quarter with ore trucked in from its Iron Ridge mine 486kkm away by road.

Six ships were loaded in the September period consisting 198,000 wet metric tonnes of lump and 143,422t of fines.

The average price received was $176/t FOB, equivalent to US$163/t CFR. Cash costs on an FOB basis were A$87/t.

Fenix has hedge contracts starting this month of 50,000t per month at a fixed price of $230 per dry metric tonne.

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