Ann: SCN: Fenix Iron Ore JV Update - Pharos, page-22

Hey Rod,

For the current market cap and shares on issue,


Its not a bad punt for the area size and dependent on the ore, don't forget, its 2 tenements and 3 areas they want to target, its a good punt if you ask me.
the financials of scorpion arent great though, but they are also not that bad.
Note Fenix current mine size.

Click to enlarge images (both), for more info.


The other thing i take away from todays announcement is, if Rob is too busy to orchestrate the scorpion drilling program, then my take from this is Rob must be very busy and not have the time in the next 6 months.

With drill results looming at MRD (end May) signs suggest to me something is baking, but all speculative at the moment.

i would imaging that Fex will continue to keep building the trucking fleet, till we can get to max capacity at Geraldton port.
I'm guessing here but if we can get to 1 shipment a week as Ace has alluded too, then basic mathematics would point to us doubling our current trucking fleet.

but merely an opinion is all and not financial advice as always (for others reading this)

Rooks