Australia's Fenix Resources rises on iron ore hedging contracts

Fenix Resources

30/06/2023 04:04

** Shares of Fenix Resources  FEX.AX  climb as much as 3.6%
to A$0.285, their highest since Feb 6
    ** Co says it has established new iron ore hedging contracts
for a total of 10,000 dry metric tonnes (dmt) per month from
July to December
    ** Says new contracts have been added to co's existing iron
ore hedging arrangements such that a total of 50,000 dmt per
month is hedged from July to December at a fixed price of
A$170.10 per dmt
    ** Stock up for third consecutive session
    ** More than 1.4 mln shares change hands, compared with the
30-day average of about 744,000 shares 
    ** As of last close, FEX shares up ~14.6% YTD

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))