Fenix Resources delivers solid quarterly results

Fenix Resources (ASX:FEX) announced impressive operational achievements for the quarter ending 30 September 2024. The company exported 769,831 wet metric tonnes (wmt) of iron ore, including shipments from its Iron Ridge mine and third-party operations. The company reported a reduction in C1 cash costs at Iron Ridge and an increased operating margin.

Overview of Fenix Resources' operational and financial highlights

Fenix Resources has reported a successful quarter with significant operational milestones. The company exported over 769,831 wmt of iron ore, with the Iron Ridge mine contributing significantly. The commencement of mining at the Shine Iron Ore Mine and the preparation for production at Beebyn-W11 highlight Fenix's strategic focus on expansion and development. With a strong cash balance of A$72 million and reduced cash costs, Fenix is well-positioned for future growth. The completion of the Ruvidini Inland Port terminal and ongoing logistics operations further support the company's integrated business model. Looking forward, Fenix is set to triple production by 2025, continuing its focus on operational efficiency and community engagement.

Executive commentary on Fenix Resources' quarterly performance

The commencement of mining at the Shine Iron Ore Mine and progress at Beebyn-W11 are key milestones for our growth strategy. We are pleased with the reduction in cash costs at Iron Ridge and the successful exports achieved this quarter.