Cash at the end of December was $48.8 million, versus $54.9 million 12 months earlier.
The December quarter saw 289,439 wet metric tonnes of high-grade iron ore shipped from its Iron Ridge operation at an increased operating margin of $38 per dry metric tonne despite a reduction in prevailing iron ore prices.
Fenix said it was evaluating growth opportunities including mine-life extension and production expansion.
Fenix has shipped nearly 2.5 million tonnes (WMT) from Iron Ridge since production began at the end of 2020.
Iron Ridge is located northeast of Geraldton.
Shares in Fenix were at 26.5c this week, capitalising the company at $172 million.
The stock is little changed from trading levels 12 months ago.
