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June Quarterly Activities Report FENIX 13 July 2021 Fenix ships 281,000t at average operating margin of A $ 127 / t Net cash of A $ 69m at 30 June 2021 , representing net cash backing of 14.6c a share Highlights • Five shipments of iron ore from the Iron Ridge Project in WA sold during the June Quarter , consisting of 129,331 wet metric tonnes ( wmt ) of lump and 151,456 wmt of fines • • Average price received was US $ 185.20 per dry metric tonne ( dmt ) FOB , which is equivalent to US $ 215.60 per dmt CFR . This represents a premium on the IODEX 62 % Fe price of approximately 8 % , equivalent to US $ 16 / dmt 154,061 wmt of fines and 154,086 wmt of lump hauled from Iron Ridge to the Port of Geraldton in the June Quarter Operating cash flow of A $ 45.1m for the period C1 FOB cash costs for the quarter were A $ 85.30 per wmt shipped and A $ 88.81 per wmt project to date ( including the ramp up period ) • Haulage rates are increasing , with 114,196t trucked in the month of June ( 3,806 tpd vs objective 4,000tpd ) Review of Fenix tax position , price protection and capital management policies completed , the outcome to form the basis of the hedging and dividend policies under formulation . • Richard Nicholls - Maltman appointed as Independent Non - Executive Director Fenix will hold a conference call for analysts today at 9am WST ( 11am EST ) . Investors can listen to the call live at https://webcast.boardroom.media/fenix- resources / 20210713 / NaN60e5611f6683f40019d1fb70 Page 1 of 8 Fenix Resources Limited , ABN : 68 125 323 622 Suite 10 , 1202 Hay Street , West Perth , WA 6005 W : fenixresources.com.au , E : fenix@fenixresources.com.au