Fenix Resources (ASX: $FEX) completes first iron ore shipment from Twin Peaks

Fenix Resources Limited (ASX: $FEX) has successfully hauled, loaded, and shipped the first commercial shipment of iron ore from the Twin Peaks Direct Shipping Iron Ore Project in WA's Mid-West. The shipment contained 59,275 tonnes of +60% Fe 'Fenix TP Lump' Direct Shipping Ore, marking a significant milestone for the company's iron ore production and revenues.

Executive Commentary on Maiden Shipment

Fenix's Executive Chairman, Mr John Welborn, expressed his delight at the successful maiden shipment, stating, 'Fenix is delighted to have created a second production source for the Company in the Mid-West. Our partnership with 10M Pty Ltd has supported their transition from explorer to producer and is unlocking value for both companies as well as growing the Mid-West economy. Fenix's unique integrated mining, logistics and port services businesses provide an exciting platform for growth for both the Company and the many projects in the region seeking to advance to production.'

Summary of Maiden Shipment and Outlook

Fenix Resources (ASX: $FEX) has achieved a significant milestone with the successful completion of the first iron ore shipment from the Twin Peaks Direct Shipping Iron Ore Project. The maiden shipment of +60% Fe 'Fenix TP Lump' is expected to boost the company's iron ore production and revenues. The rapid development of Fenix's second iron ore production source in the Mid-West following the execution of the Ore Purchase Agreement with 10M Pty Ltd in November 2023 demonstrates the company's commitment to unlocking value from regional projects. With mining continuing at Twin Peaks, Fenix anticipates completing the haulage, storing, loading, shipment, and marketing of the 500,000 tonnes of Twin Peaks iron ore covered by the Ore Purchase Agreement during 2024. Fenix's unique integrated mine to port business and diversified Mid-West iron ore, port, and rail asset base provide an excellent foundation for future growth, positioning the company for continued success in the iron ore market.