Fenix Resources Delivers Record Half-Year as Multi-Mine Strategy Scales Up

Fenix Resources Limited ( (AU:FEX) ) has provided an announcement.

Fenix Resources reported record first-half FY26 production, shipping 2.1 million tonnes of iron ore, more than double the prior corresponding period, as its transition to a multi-mine producer gained traction. Revenue rose to A$294.2 million, EBITDA surged 137% to A$48.6 million and NPAT jumped to A$9.7 million, underpinned by improved volumes, lower C1 cash costs of A$75.3/wmt and strong operating cash flow of A$56.0 million.

The company strengthened its balance sheet to A$78.6 million in cash, bolstered its hedge book with significant volume and currency protection through to June 2027, and reaffirmed upgraded FY26 sales guidance of 4.2–4.8Mt at competitive FOB cash costs. A 30‑year Right to Mine agreement over the 290Mt Weld Range project with steel giant Baowu and a three-year growth plan targeting up to 6Mtpa by 2028, with a pathway to ~10Mtpa and mine life to 2042, signal a strategic shift to larger-scale, longer-life operations that could enhance Fenix’s industry positioning and long-term shareholder returns.

The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.40 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 iron ore producer listed on the ASX, operating multiple mines including Iron Ridge, Shine and Beebyn-W11 in Western Australia. The company focuses on exporting lump and fines iron ore through the port of Geraldton and is expanding its production profile via long-term development of the large-scale Weld Range Iron Ore Project.

Average Trading Volume: 1,253,860

Technical Sentiment Signal: Buy

Current Market Cap: A$316.6M

For an in-depth examination of FEX stock, go to TipRanks’ Overview page.