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Fenix Resources Limited ( (AU:FEX) ) has provided an update.
Fenix Resources has expanded its iron ore hedge book to 840,000 tonnes at an average price of A$151.09 per tonne through to December 2026, locking in a positive cashflow margin on a base level of production while preserving upside exposure to spot prices. The move follows quarterly shipments of more than 1.24 million tonnes, consistent with upgraded FY26 sales guidance of 4.2–4.8 million tonnes at C1 cash costs of A$70–A$80 per wet metric tonne FOB Geraldton, and aligns with a three-year plan targeting 15 million tonnes of output to FY28 and potential expansion to 6Mtpa. Together with the Weld Range Scoping Study, which points to a possible long-life, high-margin project and a 10Mtpa operation with significantly lower unit costs, the strengthened hedge position underpins Fenix’s growth and de-risking strategy as it advances a Definitive Feasibility Study on Weld Range and consolidates its position as a cost-competitive Mid-West iron ore producer.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
More about Fenix Resources Limited
Fenix Resources Ltd is an Australian, ASX-listed, fully integrated mining, logistics and port services company focused on iron ore from the Mid-West region of Western Australia. It operates three iron ore mines, including Iron Ridge and Shine, and the Weld Range Iron Ore Project, and controls its own haulage via the Newhaul Road Logistics business and port handling through Newhaul Port Logistics at Geraldton, giving it export capacity of up to 10Mtpa and a diversified infrastructure base to support growth toward long-term production of 10Mtpa.
Average Trading Volume: 1,616,713
Technical Sentiment Signal: Buy
Current Market Cap: A$346.4M
Find detailed analytics on FEX stock on TipRanks’ Stock Analysis page.