The Fenix Resources Ltd (ASX: FEX) share price is all over the map this morning.
After leaping 7% higher in early trade, shares in the ASX resource explorer are currently up 1.8%, at just under 30 cents per share.
There's been plenty of investor interest, with more than $3.1 million worth of trades taking place so far today.
Below we look at the activities report for the quarter ending 31 March that looks to be moving the Fenix Resources share price.
What did Fenix report for the quarter?
The Fenix Resources share price is in the green after the company reported it had shipped some 295,000 wet metric tonnes (wmt) of high-quality iron ore from its Iron Ridge project, located in Western Australia, over the three months.
It received an average price for the iron ore of US$132.83 (AU$183) per dry metric tonne (dmt) free on board (FOB).
Fenix ended the quarter with net cash of $85.6 million, up from $54.9 million as at 31 December last year. That works out to 16.6 cents per share, and management said it "expects to build on this solid position during the current quarter".
Commenting on the quarter just past, Fenix Resources managing director Rob Brierley said:
A strong recovery in the iron ore price and a decrease in shipping costs has seen us generate some $31 million of cash for the quarter underpinned by a solid production performance.
Fenix also benefited from some positive pricing adjustments from the December 2021 quarter, which validated our decision to operate at close to full capacity, despite the price weakness during that period.
Looking ahead, Brierley added: "The current quarter has started positively with strong iron ore prices, and a shipment completed loading on 2 April 2022."
The company expects six shipments in the June quarter.
As for dividends, the company's last full year dividend, paid in September 2021, gives it a trailing dividend yield of 18%. A juicy yield that could be helping support the Fenix Resources share price.
Fenix did not pay an interim dividend, as its policy is to distribute 50% to 80% of its after-tax profits as fully franked dividends and there were no franking credits available. Management will announce its decision on the full-year dividend for FY22 in August.
Fenix Resources share price snapshot
The Fenix Resources share price is up 18% since this time last month. By comparison, the All Ordinaries Index (ASX: XAO) has gained 4% over that same period.
