Proactive Investors - Run By Investors For Investors

PNX Metals’ $5.48 million rights issue closing on Friday

The company has already secured commitments and underwriting for the full amount.
project area
Funds will be used for PNX’s flagship Hayes Creek Zinc-Gold-Silver Project

PNX Metals Ltd’s (ASX:PNX) non-renounceable pro-rata rights issue aiming to raise about $5.48 million at 0.6 cents a share will close at 5pm (ACST) on Friday May 10, 2019.

Funds from the raising will be used to progress work at the company’s flagship Hayes Creek Zinc-Gold-Silver Project, including completion of a definitive feasibility study (DFS), as well as ongoing assessment of the high-grade Fountain Head Gold Project.

PNX has secured commitments and underwriting for the full amount, with key shareholders showing strong support and Hartleys Limited acting as lead manager.

READ: PNX Metals has potential new gold and silver revenue stream from tailings at Hayes Creek

PNX Metals managing director James Fox said that the support for the rights issue is a strong endorsement of the quality of the Hayes Creek Zinc-Gold-Silver Project and PNX’s NT exploration assets.

View full PNX profile View Profile

PNX Metals Ltd Timeline

Related Articles

1553176178_Kwale---workers.jpg
March 22 2019
Base Resources is now debt free, with revenue on the rise and a new project advancing well
Gold mining project development operations at West Wits Mining
April 09 2019
Sixty per cent of Mt Cecelia project’s boundaries are surrounded by Rio Tinto, which has upped its landholding in the region by 1,000%.
Open pit operations have focused on Matilda
January 27 2019
Reserve expansions and a Wiluna expansion DFS are upcoming milestones.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use