The Company is pleased to advise that it has engaged Como Engineers Pty Ltd (“Como”) to assist with fast-tracking the Fountain Head Gold Project development.

Fountain Head is 100% owned by PNX and located on granted Mineral Leases approximately 170km south of Darwin in the Pine Creek region of the Northern Territory, and is part of a broader sequential development strategy that includes the Hayes Creek Project (refer ASX release 17 June 2021 ‘Positive PFS supports long-term gold, silver, zinc Project development’).

Como is an experienced and well-regarded engineering group that specialises in ‘fit for purpose’ solutions and utilises modular and transportable equipment in its plant designs. PNX is working with Como to deliver a design and construct proposal for the carbon-in-leach gold Plant for a fixed-duration, lump-sum price, thereby removing a large portion of the project risk from PNX. This work will be completed over the next 3 months and provide the Company with a fixed-price design and construct contract proposal. As the scope of work is further refined, consideration will be given to utilising second-hand equipment where possible and alternative equipment options to achieve further reductions in capital and operating costs.