Fenix Resources Ltd (FEX) has reported a record operational performance for the June 2026 quarter, shipping 1.3 million wet metric tonnes of iron ore. This achievement brings the company’s total production for the 2026 financial year to 4.4 million tonnes, successfully hitting the upper end of its upgraded guidance range. This quarterly output represents a material 33% increase compared to the 974,000 tonnes recorded in the March 2026 quarter, demonstrating a significant acceleration in the firm’s operational momentum.

The company’s growth is underpinned by its fully integrated pit-to-port model, which incorporates 100% owned logistics services. By controlling its own road transport fleet and port storage facilities at Geraldton, the company has managed to maintain consistent operational efficiency. This integration has proven vital in sustaining performance while navigating volatility in global diesel prices and freight costs. The combination of optimized mining, haulage, and port operations has provided the scalability necessary to handle the higher volumes seen in the final quarter of the fiscal year.

Financially, the company remains in a strong position, reporting cash at bank of A$81.0 million as of 30 June 2026. While this is slightly lower than the A$86.3 million held at the end of the prior quarter, the current balance reflects significant investments made throughout the year, including debt repayments, tax obligations, and ongoing capital expenditure for the expansion of mining infrastructure and logistics assets. This cash position represents a 42.6% increase from the A$56.8 million reported on 30 June 2025, highlighting a successful period of asset development.

Looking ahead, the company has established production guidance for the 2027 financial year between 4.7 million and 5.3 million tonnes. This target suggests an accelerated production profile at the midpoint compared to the 4.4 million tonnes achieved in FY26. Management intends to maintain C1 cash costs between A$70 and A$80 per wet metric tonne, continuing a strategy of cost discipline despite broader inflationary pressures. The focus remains on leveraging its established logistics network to support these increased volumes while advancing further internal feasibility studies.

Read the full announcement: FY26 Production Update and FY27 Guidance