Fenix Resources Limited (AU:FEX) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Fenix Resources Limited is set to significantly increase its stake in Athena Resources Ltd by converting debt notes into shares and participating in a $2.7 million entitlement offer. This move will make Fenix the largest shareholder in Athena, with potential ownership rising from 19.84% to 46.56% depending on the uptake of the offer. This strategic investment aims to advance Athena’s Byro Magnetite Project, which promises premium high-grade magnetite iron ore production.
For further insights into AU:FEX stock, check out TipRanks’ Stock Analysis page.
