Here comes Zijin, page-4

First 4 Last

Share
Profile

Follow
pete11

6,881 Posts.

97

13/12/14

19:58

Post #: 14456959
Share

Originally posted by Sharetrader78 ↑

Dear All In the event you are not aware, below is a link to the recent ASX release by Norton announcing the acquisition of a strategic stake in Phoenix. Subject to conditions, Norton’s position in the Company would total 11.3% inclusive of a stake held in a subsidiary of parent Company Zijin Mining Group Co. Ltd. Phoenix was not involved in any way in this transaction and were informed by Norton when the release was made to ASX. We continue to make progress on a number of fronts. As advised previously, the formal license to mine and ore sale agreement with Norton over the flagship Mick Adams/Kiora and Wadi open cut mines is progressing well with execution of the agreement expected in coming months. On execution, mine development is then to commence within 3 months of execution of the agreement. Phoenix receives 50% of the resultant cash surplus as the project becomes cash positive with no upfront capital outlay. The heap leach feasibility study is on schedule for completion within the March Quarter with additional metallurgical testwork, updated capital costs for relocation, refurbishment and recommissioning of the processing plant under review in addition to pad re design capital and updated operating costs. Mining at Kintore continues with a further update on progress of the first milling campaign to be made in January. I’d like to take this opportunity to wish everyone a Merry Christmas and a prosperous 2015. Here’s hoping the resources sector gains some traction after what has been a very difficult year. To view the announcement, please click on the link below: http://www.asx.com.au/asxpdf/20141209/pdf/42vcc7dk8td6kl.pdf

Expand

Just noticed that the 900,000 seller at 15.5c is gone and it looks like he was just a capper trying to scare potential buyers away from buying pxg.
Nice too see Gold holding AUD$1480 this week, must be good news for pxg, eventually.

PXG Price at posting: 9.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

AXN

Rising demand, China's 'tech war' bans leaves this germanium explorer with significant investment potential

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Bitcoin isn't going to change the world. It's now just another Wall Street plaything

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 36 more messages in this thread...

First 4 Last

Add PXG (ASX) to my watchlist

Here comes Zijin, page-4

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Rising demand, China's 'tech war' bans leaves this germanium explorer with significant investment potential

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Bitcoin isn't going to change the world. It's now just another Wall Street plaything

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Featured News