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Fenix Resources Ltd (ASX:FEX)

ALERT: Price-sensitive ASX Announcement for FEX
Current share price for FEX : $0.265 0.015 (6%)+
Announcement
Release
22 Jun 2026 8:26AM
Price at Release
$0.250
Full Release
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Summary
Fenix Resources Ltd has partnered with Mira Bulk to form the Fenix-Mira Bulk freight partnership, aiming to lower shipping costs for its iron ore products. This strategic alliance will enable Fenix to earn profits based on the volume of iron ore shipped and secure US$44 million in new long-term funding through ResInvest, replacing earlier short-term facilities. The move is expected to expand Fenix's sales activities and provide significant benefits such as increased shipping transparency, access to larger vessels, and a reduction in overall shipping costs. Additionally, the partnership will support Fenix's production ramp-up plans through FY28.
Key Points
  • Fenix Resources Ltd formed a partnership with Mira Bulk to create Fenix-Mira Bulk.
  • The partnership aims to lower per-tonne shipping costs for Fenix's iron ore products.
  • Fenix will earn a share of Fenix-Mira Bulk profits based on shipped volume.
  • Mira Bulk is a global bulk vessel operator specializing in Panamax and Capesize vessels.
  • Fenix-Mira Bulk has secured US$44 million in new long-term funding facilities with ResInvest.
  • The partnership will expand Fenix’s iron ore sales activities through ResInvest's network.
  • Mira Bulk supplied the vessel Nord Draco, setting a new port record at Geraldton.
  • The partnership provides Fenix preferential access to vessels and reduces overall shipping costs.
  • ResInvest has successfully marketed Fenix's Shine Iron Ore Mine product since 2024.
  • Fenix-Mira Bulk represents a strategic step to increase iron ore production and reduce costs.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.