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Fenix Resources Ltd (ASX:FEX)

ALERT: Price-sensitive ASX Announcement for FEX
Current share price for FEX : $0.260 -0.02 (-7.14%)+
Announcement
Release
21 Jul 2026 8:30AM
Price at Release
$0.280
Full Release
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Summary
Fenix Resources Ltd's Quarterly Activities Report for the period ending 30 June 2026 highlights several key achievements and strategic initiatives. The company reported record performance across its integrated pit-to-port operations, achieving total iron ore production of 4.4 million tonnes for FY26, within its guidance range. The report emphasizes significant progress in mining, logistics, and shipping, including a 33% increase in shipping volumes during the June Quarter and the establishment of the Beebyn Hub. Financially, Fenix maintained strong cash reserves of A$81.0 million, although higher diesel costs impacted cash costs, which were nonetheless at the lower end of guidance. The company has also formed a partnership with Mira Bulk to optimize shipping costs and expanded its board with experienced industry leaders. Looking forward, Fenix has set guidance for FY27 iron ore sales at 4.7 to 5.3 million tonnes, maintaining cost discipline amidst volatile fuel prices and aiming for further expansion through its Weld Range Project.
Key Points
  • Record mine production and shipping volumes in June Quarter and full year FY26.
  • Strong cash position of A$81.0 million as of 30 June 2026.
  • Diesel cost increase due to Iran-US conflict, impacting cash costs.
  • Fenix-Mira Bulk freight partnership to lower shipping costs.
  • New board appointments to strengthen leadership.
  • FY27 guidance set for 4.7 to 5.3 million tonnes iron ore sales.
  • Completion of the Weld Range Definitive Feasibility Study on track for end of 2026.
  • Zero Lost Time Injuries across operations.
  • Record haulage logistics tonnages for the June Quarter.
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.