I hope you are having a good weekend and the family and friends are all well.
I'm writing to you today to see if you are interested in a company on the ASX FEX.
Fenix resources is a high-grade iron ore producer, so far management have hit the ground running and have delivered for share holders.
1 thing i would point out about this stock is that it is a higher cost producer.
Any way the Fenix board have de risked this part for 12 months with a hedge in the iron ore price of 45% of sales and this amount just about covers all the operating expenses.
If you are bored and have some spare change from behind the couch it could be worth the investment.
They have plenty of cash and no debt.
For the financials it would be better if you looked at the 2 most recent quarterlies and took those numbers.
The directors have alluded to paying out 50-80% of the NPAT of $49 mill and at $0.27 per share, doesnt look that bad.
They have only been selling iron ore since Februrary 2021.
The full financials are due to be released this week.
And they plan to pay a dividend.
Any way just thought i'd give you a heads up thats all.
