PYX Resources

Financials:

Primary ticker: NSX:PYX, LSE:PYX
Stage of development: Exploration, Development, Production
Primary minerals: Mineral sands, Zircon
Project to promote: The Mandiri and Tisma Tenements
Project location: Indonesia
Website: http://pyxresources.com/
Corporate presentation: 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: U$9.72M (as of Jun 2021)
Debt: NIL

Major shareholders:
Phoenix Fund Solutions – 21.54%
Takmur SPC Limited – 19.58%
Phoenician Group Limited – 14.58%
TGN Holdings (HK) Limited – 12.02%

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 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?

Dec 1 2021 – PYX Increases Production Capacity

 

• 33% increase in production capacity at Mandiri’s Minerals Separation Plant to 24,000 tpa

• The new capacity will enable the production of rutile, leucoxene and ilmenite

• This increase is part of five-year plan at Mandiri focused on ramping up production capacity 

 

Nov 15 2021 – First Day Listing and Commencement of Trading on the London Stock

Exchange

 

• According to publicly available information, during the financial year ended 31 December 2020, PYX was the world’s second largest publicly traded zircon producer by JORC approved resources of 263.5Mt.

• The global zirconium market was estimated to be worth US$1.8bn in 2020 with an expected CAGR for the period 2021-2026 of over 5%.

•Driven by strong demand and a constrained supply, PYX has announced four price increases since January 2021 – rising by US$910 per tonne to US$2,305/t in September 2021.

• High grade zircon is used in electronics, semiconductors, solar and fuel cells, ceramics, fibre optics and energy power generation.

• PYX has a unique, high quality premium product, which boasts whiteness, low radioactivity, and low alumina content – this could help play a role in the transition to net zero.

 

Nov 9 2021 – PYX Resources Limited Listing on the London Stock Exchange

Publication of Prospectus

 

PYX Resources Limited (NSX: PYX), a producer of premium zircon, is pleased to confirm that its Prospectus has been approved by the Financial Conduct Authority (the “FCA”) and published on 8 November 2021 (GMT) by the Company. The Prospectus relates to the admission of the Company’s ordinary shares to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange (“LSE”), through a secondary listing (the “Dual Listing”) expected 15 November 2021. The Company is currently listed on the National Stock Exchange of Australia, (“NSX”), which will remain its primary listing.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Breakeven through volume increase and drastic cost reduction

Production and sales of rutile

6 Months:
Production and sales of additional by-products – ilmenite and leucoxene

What do you think makes your company such a compelling investment?

– Shares trading at substantial discount, with major upside

– Robust demand results in increased sales volumes & price 

– Zircon prices have been on the rise since early 2020 and continue to show strong pressure to increase

– Long term lack of zircon supply for the actual and future demand

– By completing the Tisma Acquisition, PYX will boost its contained zircon by 75%. 

– PYX will therefore become the world’s 2nd largest player in terms of zircon content JORC compliant resources amongst mineral sands companies in production, trailing only Iluka Resources Limited

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