I'm starting to wonder if the keen interest may lie with Kirkland lake gold and the possible unmothballing of Cosmo howley, it was mothballed back in 2017, but exploration of the area did not stop and new area's of interest were identified.
The mill at 'Union reefs' that Kirkland operated to process the ore from Cosmo was also put in care and maintenance. From what I can tell, Union reefs was reported to be where GBS and Northern gold were going to process their ore from operations very close to where PNX has current exploration rights.
Could PNX process any future gold bearing ore at Union reefs processing mill? Could PNX be a future source of gold bearing ore for Kirkland lake itself? Could an agreement be made between the two companies regarding any future ore mined, Kirkland lake traditionally are gold focused and PNX are/were a zinc and copper play.
I guess time will tell, but Kirkland are having a cracking run with Fosterville so they might be just too "cashed up" to sit around and do nothing with a mothballed asset in a known gold bearing location.
PNX Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held