Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Could you please review FEX - A quarterly Activities report was reported this morning and the share price has been slammed by 25%. Given the share market has dropped sharply today has the drop to FEX been overdone or deserved? regards Debbie
Hi Debbie,
Friday certainly was not a good day for the speculative & / or high Beta stocks and Fenix Resources (FEX) unfortunately ticks both of those boxes. The WA based $118m exploration company announced that Q4 produced a record shipment of iron ore but the combination of lower prices and higher costs overshadowed the output. Overall not a great outcome but trading back into the range of the last few weeks isn’t too bad as it appeared to go into the announcement with a positive bias.
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