Fenix Resources reports output and lower cash position in September quarter
- Fenix Resources commissioned its new Beebyn W10 iron ore mine and crushing plant while maintaining its FY27 sales guidance.
- The company reported an end-of-quarter cash balance of $43.2 million following heavy capital investments.
- Management is advancing the Weld Range Project and expanding long-term infrastructure to support sustainable production growth.
Fenix Resources (ASX: FEX) reported strong safety performance and transitioned operations to the Beebyn Hub during the September quarter while shipping 1,097,200 wet metric tonnes of iron ore.
The latest quarter saw total shipments decrease from the June quarter's 1,298,700 wet metric tonnes due to seasonal port surge disruptions and transition activities.
“The September quarter represents an important growth transition period for Fenix and our peak investment phase of FY27,” said Fenix Resources Executive Chairman John Welborn.
Group C1 cash costs rose to $81.8 per wet metric tonne, surpassing the FY27 guidance range due to lower shipment volumes and increased diesel expenses.
Following the announcement, the Fenix share price was unchanged at $0.23.
The company made a second right-to-mine instalment payment of $20 million to Sino Steel and invested $19 million into Beebyn Hub infrastructure.
Fenix maintains its FY27 production guidance of total iron ore sales between 4.7 million and 5.3 million tonnes at a C1 cash cost of $70 to $80 per wet metric tonne.
