Acquisition of Kilfoyle Project, Northern Territory


PNX has signed a binding term sheet to acquire via farm-in, a 90% interest in three exploration licenses in the Litchfield area of the Northern Territory (Kilfoyle Project) located 130km SSW of Darwin, and less than 80km to the west of PNX’s zinc-gold-silver Hayes Creek Project.  The Kilfoyle Project is prospective for a range of commodities (zinc-lead-silver-gold-lithium-nickel-cobalt-copper) and is considered to be an excellent strategic fit with the Company's existing NT projects.  

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NT Exploration Season Commences with Drilling at Fountain Head + Presentation


PNX is pleased to advise that it will commence its regional exploration season in the Northern Territory (NT) in May.  The attached Presentation summarises high-priority drill targets that have been identified at Fountain Head and at the Burnside and Moline exploration areas. These targets will be systematically tested, commencing at Fountain Head in the near term, and have the potential to complement and enhance the Hayes Creek development project, where the Company continues to advance the Definitive Feasibility Study towards completion.

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New Zinc-Gold-Silver Mineralisation at Hayes Creek, NT


PNX is pleased to advise that it has received all assay results from recent drilling at the high-grade Hayes Creek zinc-gold-silver, incorporating resource extension drilling at Mt Bonnie as well as geotechnical, resource, hydrological, and metallurgical purposes for the DFS.  Highlights: Assay results indicate high-grade, near-surface mineralisation and resource extension potential 15 drill holes intersected previously unknown mineralisation outside the existing resource at Mt Bonnie, including: 4m @ 6.14% Zn, 1.14g/t Au, 176g/t Ag, 1.29% Pb, 0.11% Cu from 73m in MBRC080, including: 2m @ 10.28% Zn, 1.92g/t Au, 304g/t Ag, 2.11% Pb, 0.17% Cu from 74m Scope to increase

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PNX Debt Free & Well Positioned to Progress Hayes Creek Project


PNX is pleased to announce that 80 million ordinary shares have been issued to settle a $1.2 million loan, completing a debt for equity swap totalling $1.8 million first announced in Sept 2017.  $0.6m of convertible notes were settled in late November 2017. The agreement to convert debt into PNX shares at an average price of 1.73 cents per share represents a premium of 48% to PNX’s 5 day VWAP at the time of the announcement of the transaction and a 33% premium to PNX’s closing share price of 1.3 cents on 12 February 2018. PNX has also now received its 2017 R&D tax refund

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Appendix 3B


Issue of shares to settle $1.2 million loan and final interest on that loan

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