Fenix Resources Secures US Dollar Diesel Fuel Swap Positions for Fiscal 2027; Shares Up 9%
MT Newswires Live
Mar 24
Fenix Resources (ASX:FEX) secured US dollar diesel fuel swap positions for the financial year ending June 30, 2027, to hedge against fuel price volatility, according to a Tuesday filing with the Australian bourse.
The new diesel swap positions equate to roughly 30% of the company's expected diesel fuel requirements for fiscal 2027, representing 18 million liters hedged at prices between $0.7876 and $0.6874 per liter, the filing said.
The diesel fuel hedge contracts equate to a terminal gate price for diesel fuel ranging from AU$1.70 to AU$1.85 per liter, excluding excise duty rebates, per the filing.
Shares rose 9% in afternoon trade Tuesday.
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