Australia's Fenix Resources gains on deal to export iron ore

Fenix Resources

19/11/2023 23:42

** Shares of Fenix Resources  FEX.AX  up 6.4% to A$0.25,
their highest since Sept. 1
    ** FEX says binding ore purchase agreement signed with 10M
Pty Ltd for purchase and export up to 500 thousand tonnes of
direct shipping ore from the Twin Peaks Project in Western
Australia
    ** Iron ore miner says deal provides an immediate boost to
co's iron ore production and revenues with first shipment of
iron ore from Woolbung Peak expected in early 2024
    ** Stock down 2.1% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))