logo-loader
PNX Metals Ltd

PNX Metals wraps up oversubscribed Share Purchase Plan

PNX is now well-funded after receiving strong support from shareholders.

1506563021_australian-cash.jpg
Hayes Creek is located in the Pine Creek region of the Northern Territory

PNX Metals Ltd (ASX:PNX) has received strong support from shareholders in an oversubscribed Share Purchase Plan (SPP).

The SPP raised $600,000, and when added to the recent placement, in total delivered the company with a capital injection of $3.2 million.

The new funds will be used to undertake a significant near-mine and regional exploration program focussed on new discoveries across the company's Hayes Creek Project area in the Northern Territory.

A Pre-Feasibility Study has confirmed Hayes Creek to be a high value, relatively low risk and technically strong development opportunity for the company.

PNX will now also progress the Definitive Feasibility Study on the project that is expected to be completed in 2018.

Quick facts: PNX Metals Ltd

Price: $0.01

Market: ASX
Market Cap: $19.48 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of PNX Metals Ltd named herein, including the promotion by the Company of PNX Metals Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

PNX Metals drilling prospects near Hayes Creek Project as DFS continues

PNX Metals Ltd (ASX:PNX) managing director and CEO James Fox speaks to Proactive Investors about the multi-commodity exploration and development company's Northern Territory operations. The company is focused on the development of its flagship Hayes Creek zinc-gold-silver project, and...

on 26/6/18

2 min read