I know Fenix, owned them for a while, good management and good execution of their plan. But FEX have enjoyed good margins on their iron ore even when the prices dropped. The margins for VRX are much smaller, any cost increases will hit these small margins hard. The moment VRX announced they were abandoning train transport and going with trucking sand from AN was the straw that broke this camels back, so i sold down my holding. Mention of a switch to producing silica flour is just another red flag for me.
all imho, dyor
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