In today’s briefing:
- Fenix Resources (FEX AU): Q3 FY25 Concall Update + CZR News
Fenix Resources (FEX AU): Q3 FY25 Concall Update + CZR News
- Fenix Resources (FEX AU) reported an increase in deliveries from Q3 FY25 to 704k tons from 346k tons/587k tons in Q1/Q2 FY25, transitioning from a 1.3 mtpa-2.8 mtpa runrate.
- The company remains on track to commence production from the Beebyn W-11 mine by the September quarter of 2025, taking the annualized production rate to>4.0 mtpa.
- At ~4 mtpa, we expect the mines to generate 200 mn AUD of operating cash flow (at 100 USD/ton iron ore price), equivalent to FEX’s market cap.
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