Australia's Fenix Resources surges as CZR Resources recommends offer

Fenix Resources

21/03/2025 04:22

** Shares of Fenix Resources FEX.AX rise 4.5% to A$0.292, their highest level since February 27

** Shares of mining, logistics and ports co heading for their biggest percentage jump since late January, if gains hold

** CZR Resources CZR.AX continues to recommend Fenix's takeover offer, despite getting a proposal from Robe River JV to acquire tenements in Robe Mesa Iron Ore project

** 2.3 mln shares change hands in their busiest day since early March

** Rise in shares helps FEX to double YTD gains to ~10% from over 5% gain on Thursday's close

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))