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Fenix Resources Limited ( (AU:FEX) ) just unveiled an announcement.
Fenix Resources Limited has announced a three-year production plan aimed at significantly increasing its iron ore output to 6 million tonnes per annum by 2028. This plan involves completing mining at the Iron Ridge and Shine sites and ramping up production at the Weld Range Project, specifically the Beebyn Hub. The company has upgraded its FY26 guidance to 4.2-4.8 million tonnes, with a focus on maintaining high-grade iron ore production and leveraging existing infrastructure. The plan is expected to be funded through operational cash flow and existing finance facilities, positioning Fenix for future growth and expansion in partnership with Sinosteel Midwest Corporation.
The most recent analyst rating on (AU:FEX) stock is a Hold with a A$0.50 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 Limited is an Australian company operating in the mining industry, primarily focused on the production of iron ore. The company is engaged in mining activities at various sites, including the Iron Ridge, Shine, and Weld Range projects, with a strategic emphasis on high-grade iron ore production in Western Australia’s Mid-West region.
Average Trading Volume: 1,844,199
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$320.1M
Find detailed analytics on FEX stock on TipRanks’ Stock Analysis page.