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Fenix Resources Limited ( (AU:FEX) ) has provided an announcement.
Fenix Resources has released a scoping study outlining a proposed expansion of its Weld Range Iron Ore Project, targeting a production increase from 6 million tonnes per annum in 2028 to about 10 million tonnes per annum by 2031, extending operations to 2042. The study indicates a substantial reduction in life-of-mine C1 cash costs to about A$55.4 per wet metric tonne FOB Geraldton, a pre-tax NPV of roughly A$1.2 billion, pre-tax IRR of about 60%, and cumulative pre-tax free cash flow of approximately A$2.5 billion, supported by a new 244km private haul road to improve logistics and margins, with most of the development capital not required until 2028 and further optimisation to be refined in a definitive feasibility study ahead of a final investment decision.
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 iron ore producer focused on developing and operating direct shipping ore projects in Western Australia’s Mid-West region, leveraging existing mine and port infrastructure and a right-to-mine agreement over the Weld Range hematite iron ore project to supply export markets.
YTD Price Performance: 76.36%
Average Trading Volume: 1,713,514
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$338.7M
Find detailed analytics on FEX stock on TipRanks’ Stock Analysis page.