Delphi Unternehmensberatung Aktiengesellschaft (AG), of Heidelberg, purchased about 15.79 million shares at 8 cents each via a series of on-market trades during October to December 2018, for a total consideration of $126,336.
Recent exploration success at the Fountainhead Project nearby to the company’s flagship Hayes Creek Project and at the Cookies Corner prospect within the Burnside Project has PNX upbeat.
The Burnside exploration project is in the Pine Creek region of the Northern Territory, an area which has produced over 3.2 million ounces of gold.
PNX recently commenced a follow-up drill program at the Cookies Corner gold prospect within the Burnside Project.
The 20-hole, 1,800-metre reverse circulation program follows up the recent maiden program which intersected gold mineralisation over a continuous 500-metre strike.
Highlights from maiden drilling included 20 metres at 1.93 g/t gold from 12 metres including 8 metres at 4.29 g/t gold.
The follow-up program was expected to take up to three weeks to complete with initial assay results due this month.