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Fenix Resources Limited ( (AU:FEX) ) has issued an update.
Fenix Resources Limited announced the expansion of its iron ore hedge book with new contracts covering an additional 240,000 tonnes of iron ore for 2025, bringing the total hedged volume to 660,000 tonnes. This strategic move is intended to secure a positive cashflow margin while maintaining exposure to spot prices, reflecting the company’s commitment to price protection and operational stability as it looks to enhance its market positioning in the iron ore industry.
More about Fenix Resources Limited
Fenix Resources Limited is a highly profitable, fully integrated mining, logistics, and port services company based in the Mid-West region of Western Australia. The company specializes in high-grade iron ore products, leveraging its comprehensive infrastructure that includes the Iron Ridge Iron Ore Mine, Newhaul Road Logistics, and Newhaul Port Logistics. Fenix’s operations are supported by strategic alliances and a focus on local community engagement, generating significant local employment and maintaining a strong indigenous workforce representation.
YTD Price Performance: 2.67%
Average Trading Volume: 13,341
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €122.5M
See more insights into FEX stock on TipRanks’ Stock Analysis page.
