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17,093.50
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38,797.51
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0.6617
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71,640.19
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78.00
(0.57%)
Gold
2,163.90
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46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
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39,023.71
(0.66%)
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38,797.51
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7,747.81
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USD/AUD
0.6617
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71,640.19
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78.00
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Gold
2,163.90
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Lithium
46.11
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Iron Ore
109.15
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Hang Seng
17,093.50
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USD/AUD
0.6617
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71,640.19
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78.00
(0.57%)
Gold
2,163.90
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46.11
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Iron Ore
109.15
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17,093.50
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Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
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71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
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Hang Seng
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Iron Ore
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Fenix Resources (ASX: $FEX) funds Athena Resources with convertible notes subscription

  • Author: Stock Piper

Fenix Resources funding support for Athena Resources


Fenix Resources Limited (ASX: $FEX) has entered into a binding agreement with Athena Resources Limited (ASX: $AHN) to subscribe for up to A$1,000,000 worth of convertible notes (Notes) in Athena. The funding is intended to assist Athena in completing the pending Scoping Study of Athena's Byro Magnetite Project in Western Australia's Mid-West region.

Executive Commentary on Funding Agreement


The funding agreement with Athena Resources demonstrates Fenix's commitment to supporting the development of the Byro Magnetite Project. This strategic investment aligns with our goal of gaining exposure to high-potential projects and expanding our asset base. We believe in the potential of Athena's project and look forward to the mutual benefits this collaboration can bring. This funding underscores our confidence in the future prospects of the Byro Magnetite Project and reflects our strategic approach to investment and growth.

Summary of Fenix Resources' Funding Support for Athena Resources


Fenix Resources (ASX: $FEX) has agreed to subscribe for up to A$1,000,000 worth of convertible notes in Athena Resources Limited (ASX: $AHN) to support the completion of the pending Scoping Study of Athena's Byro Magnetite Project in Western Australia's Mid-West region. The funding will be provided in two tranches, with the first tranche utilizing Athena's available placement capacity under listing rule 7.1, and the second tranche subject to Athena shareholder approval. If fully converted, Fenix will become the largest shareholder in Athena, holding an approximate 31.8% shareholding. This strategic investment reflects Fenix's confidence in the potential of the Byro Magnetite Project and its commitment to expanding its asset base. The Byro Magnetite Project, located in close proximity to the port of Geraldton, presents an opportunity for Fenix to gain exposure to a high-grade, low impurity magnetite concentrate production, further enhancing its diversified asset base and growth prospects.

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