Fenix Resources Delivers Maiden Ore Reserve for Western Australia Hub
MT Newswires Live
Sep 03
Fenix Resources (ASX:FEX) delivered a maiden ore reserve for the Beebyn Hub, located within the Weld Range project in Western Australia, of nearly 27 million tonnes at 60% iron, according to a Thursday filing with the Australian bourse.
The maiden ore reserve includes the updated Beebyn-W11 mine ore reserve of 13 million tonnes at 61% iron and the maiden Beebyn-W10 mine stage one ore reserve of nearly 14 million tonnes at nearly 59% iron, the filing said.
The ore reserve supports delivery of the company's three-year production plan, aiming to establish production of up to 6 million tonnes per year from the Beebyn Hub by fiscal 2028, per the filing.
Shares rose 2% in morning trade Thursday.
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