Fenix Resources (ASX:FEX) said its current iron ore swap hedge book comprises of a total of 840,000 tonnes hedged at an average price of AU$151.09 per tonne, structured as 100,000 tonnes per month from January to June, and then 40,000 tonnes per month from July to December, according to a Thursday Australian bourse filing.

Its iron ore hedging arrangements consist of swap contracts between Fenix and Macquarie Bank, which are cash settled at the end of each month for an amount equivalent to the difference between the fixed price of the contracts and the relevant Platts iron ore benchmark index price converted to Australian dollars, per the filing.

Fenix shipped over 1.2 million tonnes of iron ore during the three months to Dec. 31, 2025, equivalent to the production and sale of over 400,000 tonnes of iron ore per month. It is targeting total iron ore sales for the financial year ending June 30 of between 4.2 million tonnes to 4.8 million tonnes at a C1 cash cost of between AU$70 per wet metric tonne and AU$80 per wet metric tonne at FOB Geraldton.

The firm's shares rose nearly 1% in recent trading on Thursday.