Hot on the heels of its milestone shipment of ilmenite, the mineral sands mining company PYX Resources Ltd (NSX: PYX | LSE: PYX) has now announced its first export of monazite rich zircon concentrate to a customer in China.
Commercial sensitivity means the customer and what they’re using the concentrate for remain unknown, but what chief executive and chairman Oliver Hasler can reveal to investors is that “It is an important generator of cash,” and “everything we produce will be sold since there's such a high demand in the world.”
This latest delivery doesn’t just provide value to shareholders, but is invaluable for the products necessary for the transition to carbon zero including catalysts, magnets, energy efficient lightning, aerospace component, electric vehicles components and medical devices.
In this interview with focusIR, investors will also learn:
- How the business is positioning itself for increased demand
- The margins being achieved on the company’s core products
- Where Pyx is at within its Five-year plan
- How the company is benefitting from urbanization and technological advances
This month’s shareholding meeting with all-resolutions passed has given Hasler the reassurance that those who hold the stock are happy and recognise the business is being built from strong foundations.
“We have great ambitions to meet our production growth targets,” says Hasler “and this increased volume that we're showing will boost our bottom line. We are also working very hard on increasing our operational efficiencies and strategically want to consolidate the entire mineral sands industry in Indonesia.”
“Currently our share price offers a very attractive entry point vis-a-vis the intrinsic value of our asset base. If you compare where the share price is today compared to what researchers see as fair value, there's a very big benefit. It's a very good opportunity for investors to join our company.”
