PYX Resources
Financials:
Primary ticker: NSX:PYX, LSE:PYX
Stage of development: Production
Primary minerals: Mineral sands, Premium Zircon, Rutile, Ilmenite
Project to promote: The Mandiri and Tisma Tenements
Project location: Indonesia
Website: pyxresources.com
Corporate presentation: Click here
WH Ireland Research Note Feb 2023: Click here
Cedrus Investments Research Note Feb 2023: Click here
PYX Resources Limited (NSX: PYX ; LSE: PYX) is a major global producer of premium zircon listed on the National Stock Exchange of Australia (NSX) and the Main Market of the London Stock Exchange (LSE).
The key tenements are located in the alluvium-rich region of Central Kalimantan, Indonesia.
Mandiri has been producing zircon since 2015 and is a large-scale, project with exploration to date validating the presence of additional Valuable Heavy Minerals such as rutile, ilmenite among others within its mineral sands.
Tisma is a world-class fully licensed mineral sands asset consisting of a concession area of 1,500 hectares located in Central Kalimantan Province, Indonesia.
PYX is the 2nd largest zircon producing mining company globally. With 263 MM tonnes of JORC compliant resources and 10.5 MM tonnes of contained zircon, with highest zircon grade globally making it a differentiated value proposition.
Cash: USD 7.22M (as of Dec 2022)
Debt: NIL
Major shareholders:
Phoenix Fund Solutions – 20.96%
Takmur SPC Limited – 19.06%
Phoenician Group Limited – 14.19%
TGN Holdings (HK) Limited – 11.7%
Management Profile
Oliver B. Hasler – Chairman & CEO
An accomplished CEO, President and Board Member, Mr. Hasler successfully led several world-class businesses and brands spanning multiple industries and markets across natural resources, agribusiness, advanced manufacturing and various industrial sectors globally. Named a Top 50 CEO’s in Spain by Forbes magazine, Mr. Hasler has a proven track record in delivering shareholder value by improving existing operations; creating new businesses and brands; crafting creative, synergistic mergers and acquisitions; and assuming a leadership role in start-ups and divestments for listed companies, private equity-funded and family-owned businesses.
Most recently, he successfully oversaw the three-year transformation of Europac from a small, publicly-traded Spanish firm (Papeles y Cartones de Europa S.A.) into a mid-cap international firm, tripling its share price from €5.28 to €16.80 (as of the close on January 25, 2019) before selling it for US$2 billion. Amongst other major assignments, Mr. Hasler redefined the strategy of Douwe Egberts’ professional division, headquartered in the Netherlands and its joint venture with U.S.-based Mondelez, and led the restructuring of France’s Arc International.
For more than 20 years, Mr. Hasler has been doing business in China, where he built and operated several factories while setting up national distribution networks and managing significant import/export activities.
A Swiss citizen, Mr. Hasler holds a degree in Materials Engineering and a Master in Metallurgy from the Federal Institute of Technology in Zurich, Switzerland and an MBA with honours from the Universidad Iberoamericana in Mexico City. He is fluent in English, German, Spanish and French.
What is your rationale for taking part in 121 Mining Investment?
To introduce our company and connect with institutional investors, family office and private investors and diversify our shareholders.
What recent news would you like to highlight to investors attending?
23 Feb 2023 – 10 Year Exploration and Mining License for Tisma Mineral Sands Project
30 Nov 2022 – Starts Operations at Malaysian Logistics Facility
29 Nov 2022 – GEM Makes First Investment in PYX
11 Nov 2022 – New Malaysian Facility
1 Nov 2022 – Sustainability Report
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Start export of Ilmenite and Rutile
6 Months:
Strong volume increase
12 Months:
Migrate into in-house mining leading to drastic cost decrease
What do you think makes your company such a compelling investment?
– World’s 2nd largest producing mineral sands company based on Zircon inferred resources
– Dual listed on the National Stock Exchange of Australia and Main Market of the LSE
– Two deposits in a Belt and Road country
– In production since 2015
– A well-diversified portfolio of international customers
– Very high assemblage value and high quality premium Zircon
– Strong Zircon price outlook
– Top-tier management team with solid track record
– Continuously search for acquisition targets in order to consolidate the mineral sands assets in Kalimantan
What are the top 3 key investor takeaways?
– Great opportunity of margin improvement through volume increase and cost reduction
– Excellent moment to invest: lack of zircon supply and increasing prices
– Additional upside potential through new rutile and ilmenite licenses, increasing exploration targets and additional acquisitions