Hayes Creek Confirmed to be a Leading Zinc and Precious Metals Project

PNX is pleased to announce the completion of a PFS for its Hayes Creek zinc-gold-silver Project, which confirms the Project to be a high value, relatively low risk and technically strong development opportunity for the Company.  Given these outcomes, the PNX Board has resolved to proceed immediately with a DFS.  PFS highlights:

  • Robust zinc and precious metals Project forecast to generate net smelter revenues of $628 million over a 6.5 year mine life
  • $266 million pre-tax net cashflow estimated over Life of Mine (LoM) at an average of $41 million per year
  •  Pre-tax NPV10% of $133 million, IRR of 73% and a very short 15 month pay-back period
  •  Low up-front capital of $58 million to construct the 450,000tpa sulphide flotation processing plant and associated infrastructure to produce annually in concentrates 18,300t zinc,14,700 oz gold, and 1.4M oz silver (or a combined total of 39,100t zinc equivalent)
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2017-08-08T12:46:05+00:00