PYX Resources Share Price (PYX)

Analyst Forcasts were before Stockpiled Rutile and Ilmenite permits were obtained and prior to obtaining grid power :

Key Indicator /Source /2024/ 2025/ 2026/ 2027

Zircon sold

forecast

(kt)

Cedrus 18.0 /24.0/ 36.0/ 48.0

WH Ireland 18.0 - N/A N/A

Consensus 18.0 /24.0/ 36.0 /48.0

Revenue

forecast

(US$ mil)

Cedrus 43.1/ 56.9/ 88.3/ 123.6

WH Ireland 37.5 /60.9/ N/A N/A

Consensus 40.3 /58.9/ 88.3/ 123.6

Underlying

EBITDA

forecast

(US$ mil)

Cedrus 9.9 /22.3 /46.1 /78.6

WH Ireland 3.6/ 5.1 /N/A N/A

Consensus 6.8/ 13.7/46.1 /78.6

Review of Analysts’ Forecast

I read the RNS, noted the sp is at a low, read a few posts below and thought the company worth a punt so placed a modest order with HL.

If we are on the cusp of a commodities super cycle then rare earth miners might benefit from the wave of buying.

This is not a very active bulletin board! Good to have some input.

I think that a few clarifications may help the sp. My numbers are subject to correction of course.I do get confused easily.

Mandiri has apparently 6MT inferred Zircon on rolling five year extraction licenses. - can we get from inferred to proven?

Tisma has 4.5MT inferred Zircon on a 10 year license - ditto. I suspect that this license too might revert to a five year rolling permission when the current permission expires? This would surely affect the potential Valuation of the business assets.

Current output permits total 24Ktpa ZIRCON ,20Ktpa Rutile and 50Ktpa Ilmenite.

At 24Ktpa max production capacity at 2000USD/tonne Basket sales could increase to potentially 48M USD? Net Profit of how much? I recall the Chairman stating that the next milestone is 18Ktpa? Is that his forecast for FY24 perhaps?

Separation Plant Capacity is now 24,000tpa total Zircon from 3 lines. How much is assigned to Rutile and Ilmenite? If they are by products what output could they have in addition to the 24Ktpa Zircon? Another 3Ktpa or more? Is the split 94% Ilmenite/6% Rutile?

Last FY sales were 22.7M USD at an average price of say 2,000USD/tonne. The loss was 10.5M USD which included one off charges of 7.6M for share based payments, a Fair Value Loss of 1.7M USD and 2.5M USD Capex and increased OPEX of 1.9M USD.

Looks like this active producer could gear up the revenues considerably in future and become acceptably profitable as soon as even this year end? Hopefully the quarterly reports will soon start to show us the direction and speed of travel.It looks like it has good potential , and as a bonus the workforce will be mainly indigenous, with both male and female participation.

PYX Resources (LSE: PYX), the world’s 3rd largest publicly listed zircon producer by resource, provides investors with an overview of the Company and updates the market on its strong FY23 operational results.

In this interview, investors will hear about:

- FY 23 Operational Highlights including:

* Total Zircon production up 31%

* Premium zircons sales up 24% and total sales up 20%

* How the Company lowered production costs

* How much ilmenite was stockpiled during the period

- Why the company remains ‘bullish’ on the future pricing of Zircon

- Why Indonesia remains well positioned to sell zircon to China

- When the Company expects to renew its ilmenite/titanium export licence

- When the Company expects to release it FY23 Financial Results

https://youtu.be/nYNEepRlk0E

Https://www.proactiveinvestors.co.uk/companies/news/1039529/pyx-resources-reports-record-2023-on-strong-rise-in-zircon-production-and-sales-1039529.html