Fenix Resources Ltd (ASX:FEX)

Rob Brierley
Market Cap (AUD): 158.4M
Sector: Materials
Last Trade (AUD): 0.295 +0 (+0%)
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1. About

Fenix Resources Ltd (ASX:FEX) is a high grade, high margin iron ore producer located in the prolific mid-west mining region of Western Australia.

The Companys 100% owned, flagship Iron Ridge Iron Ore Project represents some of the highest grade iron ore in Western Australia. 

Production commenced in December 2020 following a rapid three-month development period, and first sales were generated in February 2021, shipped from the Companys port facility at Geraldton.

Approximately 1.5 million tonnes of premium ore have been exported to date, generating solid cash flow. High grade iron ore attracts a premium price on the seaborne market, as a purer product resulting in lower emissions. Chinese steelworks are demanding high grade ore to meet increasingly strict government regulations.

The Company is led by a proven team with deep mining experience and benefits from strategic alliances and agreements, including a JV with Fenix Newhaul Pty Ltd for haulage, binding agreements with the Mid West Ports Authority for the use of its Geraldton Port facilities, a 50% off-take arrangement with Sinosteel International Holding Company Limited and an exclusive marketing agreement with Atlas Iron Pty Ltd for the remaining 50% of product sales.

The Company is focused on promoting opportunities for local businesses and the community; to date, the project has generated some 180 local jobs. 

Fenix is proud to employ a 40% indigenous workforce and be in partnership with the Schwarze Brothers and other leading service providers.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk