FEX 1.92% 26.5¢ fenix resources ltd

Surging iron ore price

  1. 292 Posts.
    lightbulb Created with Sketch. 87
    bull market in iron ore and we’re perfectly positioned with a near term production, high grade iron ore asset!

    62% FE has now hit US$103, 65% FE hits US$119.
    every US$ that the price moves north is an extra A$1.3m+ profit at 1mt production per annum.

    we have seen over the last few months the price increase by over US$20 per tonne. That is an increase in over $A26m per year profit per annum at 1Mt output, or $A52m at 2Mt output per year. This is more then our market cap and we could effectively be in production next year and making well over $A50mt profit per year on 1Mt at the current margins/price. Double that if they could produce 2Mt per annum.

    in 2011 62% FE hit US$190 so there is still a huge amount for this to run.

    https://www.*.com.au/iron-ore-price-china-inventories-2019-5
 
watchlist Created with Sketch. Add FEX (ASX) to my watchlist
(20min delay)
Last
26.5¢
Change
0.005(1.92%)
Mkt cap ! $184.0M
Open High Low Value Volume
26.0¢ 27.0¢ 26.0¢ $311.3K 1.174M

Buyers (Bids)

No. Vol. Price($)
3 22783 26.5¢
 

Sellers (Offers)

Price($) Vol. No.
27.0¢ 222624 8
View Market Depth
Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
26.5¢
  Change
0.005 ( 0.95 %)
Open High Low Volume
26.0¢ 27.0¢ 26.0¢ 373808
Last updated 15.59pm 29/03/2024 ?
FEX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.