Why the Fenix (ASX:FEX) share price surged 40% in December, and up 1,000% since March

Iron ore producer Fenix Resources Ltd (ASX: FEX) share price has continued its rise, up 14% today amid a broader lift in ASX mining shares. This comes as iron ore price continues its rise to US$156 per tonne as of today.

Moreover, the Fenix share price has increased 1,000% since March, with more than 40% of that gained just this month.

At the time of writing, shares in the miner are trading at 23 cents, up by 2.5 cents.

Why has the Fenix share price risen by 1,000% since March

The Fenix share price has gained ground along with the rise in the iron ore price.

In November 2019, Fenix released a feasibility study which forecast potential earnings from the 1.25 million tonnes annual production expected out of its Iron Ridge project…