PNX Metals’ metallurgical optimisation delivers improvement in overall recoveries
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
PNX Metals (ASX:PNX) informed the market on Thursday that detailed PFS metallurgical test work and analysis relating to its Iron Blow and Mt Bonnie zinc-gold-silver VMS deposits (4.1 million tonnes grading 10.9% zinc equivalent) at its Hayes Creek project have been successfully completed.
The Hayes Creek project is located in the Pine Creek region of the Northern Territory. Updated mineral resources were reported in February and May for the Mt Bonnie and Iron Blow projects respectively.
The overall project resource hosts 84.7% in the indicated category, and expressed in gold terms equates to 1.1 million ounces of gold equivalent. Grade recovery curves have been developed for both zinc and the precious metals concentrates, indicating the potential for future optimisation of recoveries and/or grade with gold being a particular focus.
Completion of the test work and analysis is an important milestone as it demonstrated that the proposed flotation process plant is capable of recovering significant values from the Hayes Creek resource through the production of a zinc concentrate, as well as a precious metals concentrate.
The overall payable metals in concentrates based on standard commercial terms are at the upper end of expectations and have been confirmed as being readily saleable and in demand as high value products.
The potential for revenue to be derived from the lead contained in the precious metals concentrates, previously not considered in financial modelling, also provides additional revenue upside.
However it should be noted that any talk of revenue is speculative at this stage and investors should seek professional financial advice if considering this stock for their portfolio.
Highlighting the significance of this development, PNX Managing Director, James Fox said, “Recoveries to concentrates of the payable metals, in particular zinc, have exceeded our expectations, and with this information now at hand we look forward to finalising the Pre-feasibility Study (PFS) which is on schedule for completion by mid-2017”.
The PFS will expand on the Scoping Study completed in March 2016 which found that mining and processing ore derived from the proposed open pit and underground operations at Hayes Creek would generate strong financial returns. Consequently, the completion of the PFS will continue to de-risk and add value to the Hayes Creek project.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
