Fenix Resources Ltd (ASX:FEX) chairman
John Welborn chats to Proactive after the iron ore stock acquired fellow
ASX-lister Mount Gibson Iron (ASX:MGX)’s
Mid-West assets. Fenix is picking up the Shine Iron Ore Mine, which is
currently on care and maintenance but boasts a 15-million-tonne iron ore
resource, as well as two storage sheds at the pre-eminent Geraldton Port.
Welborn calls the transaction a game changer, noting it would bolster Fenix’s
position in WA’s iconic iron ore industry.