RCR’s 12-month share price target for PNX is A$0.025/share. This...

RCR’s 12-month share price target for PNX is A$0.025/share. This is based on the expectation of ongoing discovery and a growing resource base in 2021, combined with a continuation of the buoyant gold price environment seen in 2020. We expect Kirkland Lake could either re-start the nearby Cosmo Gold Mine or sell it, which may re-focus on the value of PNX’s ground position surrounding the mine. A key potential catalyst may be exploration results with drilling to kick-off around Fountain Heads, Glencoe and other areas 2Q21. Shallow gold resources could add directly to the near-term production profile. If PNX can repeat some of the previous work which generated multiple visible gold occurrences and good economic widths which can growthe resources rapidly, this can underpin a longer mine life and generate market appreciation for what is a promising development story.

Souce: https://pnxmetals.com.au/wp-content/uploads/2021/02/PNX-RCR-Research-paper.pdf