Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Iron Ore Tracker (28-Apr-2025): Iron Ore Within The Band, China Lending Data To The Rescue

Iron Ore Tracker (12-May-2025): Looking for Green Shoots In Iron Ore

Gleanings From The Q1 CY25 Shipments Conference Calls Of Vale, Rio, BHP, and FMG

Fenix Resources (FEX AU) Q2 FY25 Update: Close to Tripling Production

Fenix Resources (FEX AU): Highlights From The Ignite Investment Summit

Iron Ore Tracker (14-Apr-2025): Iron Within The Band, Set To Bounce On China Stimulus Talks

Iron Ore Tracker (24-Mar-2025): Iron Ore At Support Levels of 100 USD/Ton

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Commodities

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fenix-resources-ltd" target="_blank" data-smartkarma-citation="entities:7405:1" rel="noopener">Fenix Resources (FEX AU)</a> 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. </li>
<li>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&gt;4.0 mtpa. </li>
<li>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. </li>
</ul>



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&gt;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. 


Fenix Resources (FEX AU): Q3 FY25 Concall Update + CZR News