Fenix Resources chairman demonstrates confidence in iron ore strategy with on-market purchase

Fenix Resources Ltd (ASX:FEX) non-executive chairman Warwick Davies has demonstrated his confidence in the company’s iron ore strategy with the purchase of shares in an on-market transaction. Davies acquired 30,000 shares on June 23 at an average price of $0.3225 for a direct interest, marking his first purchase in the company.  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 Midwest. The JV area totals around 373 square kilometres and is immediately adjacent and contiguous to the Iron Ridge operation, with iron ore targets totalling 15 strike kilometres already identified. This early phase of exploration will include detailed airborne photography and magnetics, detailed geological mapping, rock chip sampling and reverse circulation (RC) drilling of targets identified in a program of about 1,000 metres. The agreed exploration program totals $350,000 over six months to October 31, 2021.