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Welborn's Fenix to accelerate Pharos iron ore project

IRON ore minnow Fenix Resources has elected to accelerate a potential expansion of its production by issuing shares to ensure an early earn-in of 100% of the iron ore rights across the Pharos project from the tenements' owner, Scorpion Minerals.

Haydn Black
Scorpion's Bronwyn Barnes and Fenix's John Welborn

Scorpion's Bronwyn Barnes and Fenix's John Welborn

Fenix, which commenced production at its flagship Iron Ridge project about a year ago, and cognisant of a lack of extension opportunities, quickly struck a deal to earn 70% of the iron ore rights over...

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