Mar 10, 2022 / 12:00AM GMT
Rob Brierley - Fenix Resources Limited - MD
Thank you. Good morning and thanks for joining us. I'm pleased to report on what was a solid financial performance for our company in the first half of this financial year. The $14 million net profit after tax reflects the combination of the strong operational performance and the impact of a sharp fall in the iron ore price and higher freight rates experienced during the half.
We shipped nearly 700,000 wet metric tonnes in the six months comprising of 386,000 wet metric tonnes of lump and 342,000 (sic - see page 1, Announcements report, "312,000") wet metric tonnes of fines. This was constantly in line with budget and was achieved while keeping a tight lid on costs with C1 costs averaging slightly over AUD90 per tonne for the half year. We're mindful of the escalating oil price and the impact it will have on costs. But at present, the benefit of a rising iron ore price is more than compensating for this current macroeconomic dynamic.
The outstanding result we have made to operations or the outstanding start we've made to the operations at Iron
Half Year 2022 Fenix Resources Ltd Earnings Call Transcript
Mar 29, 2024
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