(ASX: PNX Metals Limited)
SP: 1.2cps
MC: 11.7m
EV: 10.0m www.pnxmetals.com.au
Cash $3.2m as at 24 October 2017.
Top 20 holding 52.8%
Highlights:
Accumulated quite heavily, supply has now dried up
Results and additional news flow expected shortly.
IP surveys completed with excellent results
A near surface Zinc lead target, and a deeper (75-100m) gold sulphide target was identified.
These two significant, high-priority new targets are planned to be drilled, commencing early December
The Zinc-lead target is located 200m from intersection of 1m @ 4.66% zinc, 11.37g/t gold, 95.5g/t silver and 0.90% lead (from 45m) in PNX drill hole MORC26
A PFS was announced to the market on 12 July 2017
The Study forecasts the Project to generate an NPV10% of $133 million
With a low $58 million of initial capital expenditure, the Project is forecast to have a base case of 73% internal rate of return and pay-back period of just 15 months.
There are positive outlook for zinc & gold fundamentals
This results in a 10% increase from PFS forward estimates
