The company has appointed Scorpion Minerals to plan, manage and execute the early exploration phase at Pharos. Fenix has iron ore operations in Western Australia s Mid-West.
Fenix Resources Ltd (ASX:FEX) non-executive director Richard Nicholls-Maltman has demonstrated his confidence in the company’s iron ore strategy with an on-market purchase of shares.
On July 6, Nicholls-Maltman acquired 30,000 shares in direct and indirect interests at an average price of 39.5 cents per share, marking his first purchase in the company.
This follows the first purchase made by chairman Warwick Davies on June 23 of 30,000 shares in a direct interest.
Pharos JV update
On April 18, the company appointed Scorpion Minerals Ltd (ASX:SCN) to conduct exploration at the Pharos JV Project in a bid to grow iron ore resources around its Iron Ridge operations in WA’s Mid-West.
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