FEX 3.39% 6.1¢ fenix resources ltd

Originally posted by Fred FlintstoneNo one wants an IO project...

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    They do really - the FEX asset is similar to the Mineral Resources iron ore projects in the Pilbara where the ore is trucked to Port Hedland. There is one difference though -they are operating profitably with sub 60% iron ore grades  whereas the FEX iron ore is consistently very high grade -super high grade -- and you can truck  grades like that very long distances. The Central Yilgarn deposits of Cliffs at Windarling were trucked to Koolyanobbing by BGC at incredibly low cost -the result they did not have to build a rail line. FEX do not need a rail line and there is spare port capacity at Geraldton.
 
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