Ann: Hayes Creek Zinc-Gold-Silver Project Update, page-60

Zinc hitting US$3,500/tonne and gold/silver both moving higher.

This little project will be a cash cow when they kick it into gear. Looking forward to the drilling update with hopefully 1-2years added to the project life! So aiming for 7.5-8.5 years mine life with exploration upside.

Keep in mind the original feaso study was modelled on a zinc price of US$2,570/t, and zinc is now 36% higher then that. IRR was 73% and I’d say it’ll be closure to 100% shortly.

PNX is only a minnow... but it just has so much upside in this commodity bull market environment. We only need $53m to bring this mine to life, it shouldn’t be too hard to fund that as commodity prices are only going one way, that’s up!

Let’s see how 2018 goes!