PYX Resources [LON:PYX] has been producing premium zircon since 2015 from its two main mineral sands projects in Indonesia and is now the world’s third largest publicly listed zircon producer by resource, with titanium dioxide as a significant byproduct. Zircon is used in the production of ceramics, nuclear power and many high-tech industries.
“Most mineral sands companies are ilmenite producers with rutile and zircon as a byproduct.” according to Oliver Hasler, Chairman and CEO of PYX Resources, “We are zircon producers with a byproduct of ilmenite. That’s important as today zircon sells for $2,000 per tonne, whilst ilmenite sells for around $250 per tonne. We have a higher concentration of the more expensive mineral, and our assemblage value is 3-5x that of our peers.”
Oliver Hasler, Chairman & CEO, PYX Resources was interviewed by Donald Leggatt, IR Media Director at focusIR recently and provides investors with an overview of the company, updating the market on its strong FY23 operational results.
In this video, investors will hear about FY 23 Operational Highlights including:
- Total Zircon production up 31%
- Premium zircon 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
Video: Oliver Hasler, Chairman & CEO of PYX Resources
Reasons to add PYX Resources to your Watchlist
- Indonesia operates a stable and favourable regulatory environment
- Demand for zircon is set to outstrip supply
- Premium zircon pricing remains strong despite soft European demand
- Titanium dioxide is a valuable byproduct
- Significant economies of scale by resource
- Can export titanium and ilmenite ore directly from Indonesia
- Successfully renewed its 10-Year Tisma Mineral Sands Exploration/Mining Licence in 2023
- Strong sustainability programme with zircon/titanium dioxide now classed as a critical mineral for carbon zero targets
