Fenix Resources to Reschedule March Shipments Due to Tropical Cyclone Narelle; Shares Down 4%

MT Newswires Live

Mar 26

Fenix Resources (ASX:FEX) said the Mid-West Ports Authority will temporarily close all shipping operations at Geraldton Port in Western Australia in response to Tropical Cyclone Narelle, resulting in the rescheduling of the company's March shipping schedule, according to a Thursday filing with the Australian bourse.

While the closure will impact iron ore shipments and March quarter sales, the company reaffirmed its fiscal year 2026 guidance of total iron ore sales of between 4.2 million tonnes and 4.8 million tonnes at a C1 cash cost of between AU$70 per wet metric tonne and AU$80 per wet metric tonne free-on-board Geraldton on the expectation that port operations resume in April and diesel fuel supply is maintained at normal levels, the filing said.

The board does not intend to withdraw or amend its guidance at this time, per the filing.

Fenix Resources shares fell 4% in morning trade on Thursday.

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