Fenix Resources Limited ( (AU:FEX) ) just unveiled an update.
Fenix Resources Limited has decided not to counter the takeover proposal from CZR Resources Ltd, which received a superior offer from the Robe River Iron Associates Joint Venture for its Robe River tenements. Fenix’s decision reflects its strategic focus on existing growth opportunities within its Mid-West operations, maintaining its current takeover offer open until April 29, 2025. This move underscores Fenix’s disciplined approach to capital allocation and growth transactions, while continuing to target a production rate of 4 million tonnes per annum from its iron ore mines.
More about Fenix Resources Limited
Fenix Resources Limited is a fully integrated mining, logistics, and port services business based in the Mid-West region of Western Australia. The company aims to achieve an annual production rate of 4 million tonnes of iron ore in 2025, utilizing its assets such as the Iron Ridge Iron Ore Mine, Shine Iron Ore Mine, and Beebyn-W11 Iron Ore Project. Fenix operates its own logistics businesses, including Newhaul Road Logistics and Newhaul Port Logistics, providing comprehensive transport and storage solutions. The company is committed to local community engagement and has generated over 300 jobs in Western Australia.
YTD Price Performance: -8.00%
Average Trading Volume: 3,066
Technical Sentiment Signal: Hold
Current Market Cap: €112.2M
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