REG - PYX Resources Ltd. - First Export of Monazite Rich Zircon Concentrate

PYX ResourcesAnnouncement

14/05/2024 07:00

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RNS Number : 3185O  PYX Resources Limited  14 May 2024

PYX Resources Limited / EPIC: PYX / Market: Standard / Sector: Mining

14 May 2024

Pyx Resources Limited

("PYX" or "the Company")

 

First Export of Monazite Rich Zircon Concentrate

 

750 tonnes Monazite Rich Zircon Concentrate (REE-rich) shipped to Hainan,
China

 

HIGHLIGHTS

·    First export of 750 tonnes monazite rich zircon concentrate to a
customer in Hainan, China.

·    Increasing interest in monazite, which is rich in Rare Earth Elements
and used in several advanced technologies including renewable energy systems.

 

PYX Resources Ltd (NSX: PYX | LSE: PYX), the world's third largest publicly
listed zircon producer by zircon resources(( 1 )), is pleased to announce that
its first shipment of monazite rich zircon concentrate totalling 750 t has
been exported to a customer in Hainan, China.

 

Monazite is a constituent of mineral sands and holds particular significance
due to the 17 Rare Earth Elements ("REEs" lanthanum (La), cerium (Ce),
praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium
(Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium
(Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), scandium (Sc), and yttrium
(Y)) that it contains, which are pivotal in various advanced technologies
including electronics, renewable energy systems, and specialised alloys. These
REEs include cerium and neodymium, which are vital components in catalytic
converters for cars and wind turbines, lanthanum, used in rechargeable
batteries, thorium, which shows promise in advanced nuclear reactor design,
and yttrium, which enhances the performance of superconductors and LED lights.

 

Commenting on its first monazite shipment, PYX's Chairman and Chief Executive
Officer Oliver Hasler, said: "We are thrilled to announce the first successful
shipment of monazite rich zircon concentrate to China, marking a significant
step forward in our strategic endeavours. Monazite, known for its rich rare
earth content, represents a pivotal resource in the global landscape of
advanced technologies and is used across multiple industries from renewable
energy and electronics to aerospace and healthcare.  We continue to gain
substantial interest for our products from global buyers and look forward to
reporting further exports in the future."

 

***ENDS***

 

For more information:

 

 PYX Resources Limited                            T: +61 2 8823 3132

                                                  E: ir@pyxresources.com (mailto:ir@pyxresources.com)
 WH Ireland Limited (Broker)                      T: +44 (0)20 7220 1666

 Harry Ansell / Katy Mitchell / Darshan Patel

 St Brides Partners Ltd (Financial PR)            E: pyx@stbridespartners.co.uk (mailto:pyx@stbridespartners.co.uk)

 Ana Ribeiro / Paul Dulieu / Isabelle Morris

 

About PYX Resources

PYX Resources Limited (NSX: PYX | LSE: PYX) is a producer of premium zircon
dual listed on the National Stock Exchange of Australia and on the Main Market
of the London Stock Exchange. PYX's key deposits, Mandiri and Tisma, are
large-scale, near-surface open pit deposits both located in the alluvium-rich
region of Central Kalimantan, Indonesia. PYX, whose Mandiri deposit has been
in production since 2015, is the 3(rd) largest publicly traded producing
mineral sands company by zircon resources globally. Determined to mine
responsibly and invest in the wider communities where we operate, PYX is
committed to fully developing its Mandiri and Tisma deposits, with the vision
to consolidate the mineral sands resources in Kalimantan and explore and
acquire mineral sands assets in Asia and beyond.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This Announcement contains forward-looking statements and forward-looking
information within the meaning of applicable Australian and UK securities
laws, which are based on expectations, estimates and projections as of the
date of this Announcement. This forward-looking information includes, or may
be based upon, without limitation, estimates, forecasts and statements as to
management's expectations with respect to, among other things, the timing and
amount of funding required to execute the Company's exploration, development
and business plans, capital and exploration expenditures, the effect on the
Company of any changes to existing legislation or policy, government
regulation of mining operations, the length of time required to obtain
permits, certifications and approvals, the success of exploration, development
and mining activities, the geology of the Company's properties, environmental
risks, the availability of labour, the focus of the Company in the future,
demand and market outlook for precious metals and the prices thereof, progress
in development of mineral properties, the Company's ability to raise funding
privately or on a public market in the future, the Company's future growth,
results of operations, performance, and business prospects and opportunities.
Wherever possible, words such as "anticipate", "believe", "expect", "intend",
"may" and similar expressions have been used to identify such forward-looking
information.

 

Forward-looking information is based on the opinions and estimates of
management at the date the information is given, and on information available
to management at such time. Forward looking information involves significant
risks, uncertainties, assumptions, and other factors that could cause actual
results, performance, or achievements to differ materially from the results
discussed or implied in the forward-looking information. These factors,
including, but not limited to, fluctuations in currency markets, fluctuations
in commodity prices, the ability of the Company to access sufficient capital
on favourable terms or at all, changes in national and local government
legislation, taxation, controls, regulations, political or economic
developments in Indonesia and Australia or other countries in which the
Company does business or may carry on business in the future, operational or
technical difficulties in connection with exploration or development
activities, employee relations, the speculative nature of mineral exploration
and development, obtaining necessary licenses and permits, diminishing
quantities and grades of mineral reserves, contests over title to properties,
especially title to undeveloped properties, the inherent risks involved in the
exploration and development of mineral properties, the uncertainties involved
in interpreting drill results and other geological data, environmental
hazards, industrial accidents, unusual or unexpected formations, pressures,
cave-ins and flooding, limitations of insurance coverage and the possibility
of project cost overruns or unanticipated costs and expenses, and should be
considered carefully. Many of these uncertainties and contingencies can affect
the Company's actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking statements
made by, or on behalf of, the Company. Prospective investors should not place
undue reliance on any forward-looking information.

 

Although the forward-looking information contained in this Announcement is
based upon what management believes, or believed at the time, to be reasonable
assumptions, the Company cannot assure prospective purchasers that actual
results will be consistent with such forward-looking information, as there may
be other factors that cause results not to be as anticipated, estimated or
intended, and neither the Company nor any other person assumes responsibility
for the accuracy and completeness of any such forward-looking information. The
Company does not undertake, and assumes no obligation, to update or revise any
such forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be required by
law.

 

No stock exchange, regulation services provider, securities commission or
other regulatory authority

has approved or disapproved the information contained in this Announcement.

 

 

 

 

 1  according to publicly available information as of 30 June 2023

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