Fenix Resources Increases Production from Western Australia Operations to Run Rate of 4.5 Million Tonnes Per Annum
MT Newswires Live
Mar 17
Fenix Resources (ASX:FEX) increased its production from its Western Australia operations to a run rate of 4.5 million tonnes per annum, according to a Tuesday Australian bourse filing.
It added that its wholly-owned logistics business, Newhaul, hauled ten million dry metric tonnes of iron ore from operations in Western Australia. This satisfied a milestone under its July 2022 acquisition of Newhaul, and a milestone payment of 20 million fully paid ordinary shares in Fenix to Newhaul founder and Fenix director Craig Mitchell.
Mitchell will step down as a director of the firm.
Fenix Resources shares rose over 1% in recent trading on Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.