Fenix Resources Limited completed the acquisition of Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited.
Fenix Resources Limited (ASX:FEX) completed the acquisition of Mid-West iron ore mining and infrastructure assets from Mount Gibson Iron Limited (ASX:MGX) on July 21, 2023. Mount Gibson has received AUD 10 million in cash, plus 60 million ordinary Fenix shares and 25 million Fenix options (exercisable in two tranches of 12.5 million options each at AUD 0.25 and AUD 0.30 respectively within five years of settlement), making Mount Gibson the single largest shareholder in Fenix with an approximate interest of 8.6%.