Drilling Recommenced at Moline Gold and Base Metals Targets


A 15 hole RC drill program has commenced at three prospects in the Moline Project area, approximately 65km to the east of the Hayes Creek zinc and precious metals project in the NT.   All three prospects returned excellent intersections of gold and base metals mineralisation in drilling done in 2016

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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

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New NT Gold and Base Metals Targets


PNX has commenced exploration field work at the Burnside and Moline project areas in the Pine Creek region of the Northern Territory focusing on a number of exciting gold and base metal targets

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Successful Metallurgical Optimisation at Hayes Creek


PFS met optimisation completed with an improvement in overall recoveries from initial test-work, de-risking metallurgical aspects of the project.  Zinc concentrate and Precious Metals concentrate readily saleable as high-value products

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Appendix 3B


Shares issued to lender and convertible note holders in lieu of cash interest payment

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Refer to PNX’s company page at for Announcements prior to 1 July 2014.