Australia's Fenix Resources rises on iron ore sales from Iron Ridge mine

Fenix Resources

06/10/2022 03:46

** Shares of Fenix Resources Ltd  FEX.AX  gain as much as
3.9% to A$0.265, highest since Sept 20 
    ** Iron ore miner says "significant milestone" achieved of 2
mln dry metric tonnes of high-grade iron ore sales from co's
Iron Ridge Iron Ore Mine in Western Australia 
    ** Says net operating margin averaged ~A$56 per tonne for
the 2 mln tonnes produced from Iron Ridge since Feb 2021
    ** Says profitable iron ore production and sales continue at
steady state of 1.3 mln tonnes per annum with strong operating
margins 
    ** Stock had fallen 5.6% this year, as of last close
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))