WHILE there was no interim dividend declared, Fenix Resources...

WHILE there was no interim dividend declared, Fenix Resources chairman John Welborn is adamant payments to shareholders of the iron ore miner are very much a key part of the plan. Welborn told a Fenix webinar audience the company would wait for full financial year numbers and more clarity at that time around the iron ore price before landing on the dividend to be paid."We do have a strong balance sheet but there is volatility in our business and so it is prudent and conservative (to wait for full-year numbers)," Welborn said.Fenix reported an A$11 million net profit after tax for the half-year ending December, with the profit said to include "acquisition adjustments" for the acquisition of the haulage business the miner now owns outright.Ownership of the haulage business underpinned C1 costs falling 10% versus the previous half, despite iron ore miners and the mining industry in general facing "unprecedented" inflationary pressures.Welborn said the reduction of Fenix's CI costs from the Iron Ridge operation east of Geraldton compared to FMG's costs climbing 23%, Rio Tinto's rising 21% and BHP's gaining 11%.Meanwhile, Fenix's growth aspirations revolve around increased mine life and production, new iron ore opportunities, and being a haulage provider for third parties.Fenix had about $49 million cash at the end of December.Shares in Fenix were up 2% to 24.5c in afternoon trade, capitalising the company at $160 million.The stock is little changed from levels seen 12 months ago, though it was circa 40-50% stronger for periods during April to August last year.