Short Term Trading Weekend Lounge: 22 - 24 July, page-418

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    STTCOMP PNX, FA Long
    Market Cap: ~9m @1.8 c, Last one year SP range between 0.8c and 2c.

    PNX Metals Limited (PNL, formerly known as Phoenix Copper Limited) is an exploration company with significant base and precious metals tenement portfolio in the Northern Territory, in particular at Hayes Creek, and in South Australia.
    The main reason of my tip is the Hayes Creek Zinc, Gold and Silver project. I understand that this project financially robust and includes the base and precious metals that are currently hot – i.e. zinc (41%), silver (34%), and gold (25%),. Based on the scoping study the mine life is ~ 7 year, commencing in 2019 with total metal revenues of A$631 million, with potential aannualised Life-of-Mine pre-tax net cash flows of A$35 million (net of ongoing underground development capital) resulting in a total Life-of-Mine pre-tax net cash flow of A$244 million.
    Other notably points includes:

    • completed the acquisition of three Mineral Leases highly prospective for gold adjacent to its flagship Hayes Creek gold-silver-zinc project (ASX ann. 8/07/2016)
    • RC drilling program targeting areas of known highgrade gold mineralisation at its Burnside Project in the Pine Creek region of the Northern Territory is scheduled to commence in July (ASX ann. 30/06/16).
    • Recent market purchase from the director (ASX ann. 16/06/2016)
    • Technical components of a Pre-Feasibility Study (PFS) on its Hayes Creek are now fully-funded after the Company secured $1.6 million via the signing of two agreements for the forward sale of silver from the Project (ASX ann. 08/06/16).
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