Fenix Resources (FEX) Noosa Mining Conference 2026 summary

Operational performance and growth

• Achieved record quarterly shipments of 1.3 million tons in June 2026, up 33% from the previous quarter and 62% year-on-year, previously an annual figure.

• FY26 iron ore sales reached 4.4 million tons, with guidance achieved and a 44% increase in cash to $81 million while funding expansion.

• Integrated mining, haulage, and port operations under one management team, enhancing efficiency and scalability.

• Annualised run rate exceeded 5 million tons per year by June 2026, targeting 6 million tons by FY28 and 10 million tons by FY31.

• Confident in existing infrastructure's capacity to support up to 10 million tons annually.

Strategic projects and expansion plans

• Weld Range Project secured with a 290 million ton resource and 30-year exclusive mining rights, underpinning long-term growth.

• Published a scoping study in December 2025 outlining a pathway to 10 million tons of production.

• Definitive Feasibility Study for Weld Range 10Mtpa expansion on track for late 2026.

• Private haul road and technology enhancements planned to reduce logistics costs and support expansion.

• Collaboration with Baowu and Sinosteel to support growth beyond FY28.

Infrastructure and integration

• Fully integrated pit-to-port business model with 100% owned logistics and port operations.

• Geraldton Port access secured to 2054, with on-wharf facilities and storage for growth.

• New state-of-the-art workshop in Geraldton and scalable logistics to support 10Mtpa target.

• Three operating mines and upgraded storage at Ruvidini siding.

• Only integrated operator in the Mid-West region, supporting operational efficiency.