Fenix Resources Ltd (ASX:FEX) has dispatched the maiden iron ore shipment from its flagship Iron Ridge Iron Ore Project out of the Port of Geraldton in Western Australia.
Mechanical issues with the bulk carrier vessel, Ya Tai 2, have been resolved with the buyer, shipowner and local authorities allowing a reduced cargo to be loaded meeting forecast grade specification.
Subsequently only 37,157 wet metric tonnes of product were dispatched consisting of 11,001 tonnes of lump and 26,156 tonnes of fines.
The average iron grade of lump and fines product loaded was 63.3% and 61.5% respectively, meeting forecast grades and correlating closely with the ore reserve model.
Next shipment late February
The company has sufficient product ready for its next planned shipment, with the carrier due to arrive on February 24, 2021 and scheduled for loading on February 27, 2021, after completion of a mandatory 14-day COVID restriction.
Fenix wishes to acknowledge the support and cooperation of the Mid West Ports Authority in allowing the cargo to be loaded, whilst ensuring no further issues.