PNX increases NT gold exploration footprint


The Company is pleased to announce it has increased its Northern Territory exploration footprint in an area highly prospective for gold, base metals, and uranium. The Company has satisfied the terms of a Farm-In Agreement with private operators Oz Uranium Pty Ltd and Rockland Resources Pty Ltd, covering two granted Mineral Leases, one Mining Lease Application and five Exploration Licences. This acquisition continues to strengthen PNX’s footprint in the Pine Creek region. The new licenses are contiguous with PNX’s existing tenements at Hayes Creek that host the zinc-gold-silver mineral resource at Iron Blow. The Iron Blow and Mt Bonnie massive

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Grant received under Resourcing the Territory initiative


The Company is pleased to advise that Grants NT has approved its application for co-funding in Round 15 of the Northern Territory Geophysics and Drilling Collaborations program. The Geophysics and Drilling Collaborations program is part of the Northern Territory Government’s ‘Resourcing the Territory’ initiative, This is a competitive grants program administered by the Northern Territory Geological Survey to address geoscientific knowledge gaps, advance exploration activity and support the discovery and development of resources in the NT. PNX’s application for a 1,099 line-km drone magnetic survey to cover its 100% owned zinc-gold-silver Hayes Creek, and Fountain Head and Glencoe gold

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High-grade gold in rock chips at Glencoe


The Company is pleased to advise that rock chip samples taken during field mapping at its Glencoe gold deposit (“Glencoe”) have returned high-grade gold assay results and identified new gold bearing quartz veins. A total of thirty-five (35) rock chip samples were taken from selected sites at Glencoe during geological mapping to assist with determining the distribution of gold and understanding its geological context The majority of samples were taken from quartz veins with a strike direction (orientation) ~30° oblique to that of the main MRE gold lodes, and which have not been adequately tested by recent drilling. The orientation

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PNX to divest Moline Project for up to $3 million


The Company is pleased to announce that it has agreed to divest its Moline project in the Northern Territory to Sovereign Metallurgical Pty Ltd (a related party to Ausgold Trading Pty Ltd) for a total consideration of up to $3.0 million, plus refund the existing tenement bond of approximately $300,000. The Moline project is located approximately 65km east of the Company’s Fountain Head and Hayes Creek development.

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Results of Non Renounceable Rights Issue


The Company is pleased to advise the results of the non-renounceable pro-rata rights issue (ASX release 20 January 2022) that closed at 5:00pm (ACDT) on 9 February 2022. The total amount raised was $3,959,321 from acceptances of 791,864,296 new shares at an issue price of $0.005 per share, representing an approximate 87% take-up (including oversubscriptions).

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Rights Issue Closure Reminder


The Company wishes to remind shareholders that the non-renounceable pro-rata rights issue, announced on 20 January 2022, closes at 5pm (Adelaide time) on Wednesday, 9 February 2022.  All eligible shareholders should have received their Offer Booklet by now. If you have not received your booklet and wish to participate, the Company encourages you to contact your broker or custodian, or you can contact the Company directly.

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The Company is pleased to advise that, following the launch of a non-renounceable rights issue (Refer to ASX Announcement on 20 January 2022 for further detail), the following offer documents, attached hereto, have been despatched to shareholders today: (1) Entitlement Offer Booklet, and (2)Entitlement and Acceptance Form

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Cleansing Notice Under Section 708AA(2)(f)


This notice is given under section 708AA(2)(f) of the Corporations Act 2001 (Cth) and refers to the Company's Offer Memorandum and Appendix 3B lodged with ASX on 20 January 2022 for a one (1) for four (4) non-renounceable pro-rata entitlement issue of new shares in PNX Metals at an issue price of $0.005 per New Share to raise up to approximately $4.6M (before costs).

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Rights Issue to raise up to $4.6M


The Company is pleased to announce that it is offering eligible shareholders the opportunity to acquire New Shares at $0.005 (0.5 cents) per share through a one (1) for four (4) non-renounceable pro-rata rights issue to raise up to $4.6 million (before costs and expenses) (“Offer”). Full details of the Offer are set out in the Offer Memorandum and Appendix 3B lodged with ASX today. The Offer Memorandum will be sent to Eligible Shareholders on 31 January 2022.

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Near-surface high-grade gold drill results at Glencoe


The Company is pleased to announce further positive gold assay results from its 2021 reverse circulation (RC) drilling program at the Glencoe gold deposit (“Glencoe”) which comprised 54 RC drill holes for a total of 4,470 metres. The program was extremely successful in confirming and enhancing historic drill results, and identifying along-strike gold lode extensions that remain open. Glencoe is located on a granted Mineral Lease approximately 170 km south of Darwin and 3 km north of PNX’s Fountain Head Gold Project in the Pine Creek region of the Northern Territory. The Glencoe Project represents a ‘bolt-on’ asset that has

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Drilling extends near-surface gold zones at Glencoe


The Company is pleased to announce further positive drill results from its latest 14 reverse circulation (RC) drill holes at the Glencoe gold deposit (“Glencoe”), which continues to build as the Company makes significant progress towards the near-term sequential development of its 100% owned Fountain Head gold and Hayes Creek gold-silver-zinc Projects. In a highly successful first drill program at Glencoe (refer ASX 14 September 2021), immediate extensions to near-surface gold mineralisation were delineated, extending the strike by more than 200 metres to the southeast of the current Mineral Resource Estimate. High-grade, near surface gold in rock-chips of up to

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Jobkeeper Payment Disclosure


The company provides this market announcement in accordance with the requirements of the Treasury Laws Amendment (2021 Measures No. 2) Act 2021. Please see the attached notification form for the Company’s disclosure in relation to Jobkeeper payments received.

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