Australia's Fenix Resources set for best day in over 3 months on production guidance raise

Fenix Resources

11/12/2025 03:25

** Shares of Australia's Fenix Resources FEX.AX climb 14.9% to A$0.50, set for best day since September 22

** Iron ore miner hits highest since November 5

** Upgrades FY26 production and sale guidance to range of 4.2 to 4.8 million tonnes of iron ore, from previous forecast of 4 to 4.4 mln tonnes

** Announces 3-year production plan entailing production of approximately 15 million tonnes of iron ore across FY26-28

** Forecasts production of 4.7 to 5.3 mln tonnes for FY27, and 5.4 to 6.0 mln tonnes for FY28

** Shares up 88.7% YTD

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))