Fenix Resources posts $10.9 million profit in first half and remains on track to outperform in second half

Fenix Resources Ltd (ASX:FEX) has reported a net profit after tax of $10.9 million for the half vear ended 31 December 2022 and is well-positioned to outperform in the second half based on significantly improved spot iron ore prices.

The company achieved consistent production performance from its Iron Ridge iron ore mine in Western Australia's Mid-West, shipping 659,351 wet metric tonnes (wmt) of high-grade iron ore during the first half to generate A$85 million in revenue.