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PNX Metals’ $5.48 million rights issue closing on Friday

The company has already secured commitments and underwriting for the full amount.

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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.

Quick facts: PNX Metals Ltd

Price: 0.007 AUD

ASX:PNX
Market: ASX
Market Cap: $17.05 m
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