London Stock Exchange welcomes PYX Resources to the Main Market
PYX Resources, a global producer of premium zircon with assets located in Central Kalimantan, Indonesia, has begun trading on the Main Market of the London Stock Exchange today.
PYX is trading its ordinary shares as a secondary listing under the ticker PYX although is not looking to raise any new funds as it is currently fully funded and debt free. Its primary listing will remain on the Australia’s National Stock Exchange (NSX) with a market cap of circa £390 million.
The world’s 2nd largest zircon producer by JORC approved resources at 263.5Mt, PYX is unleashing a golden opportunity for London investors to get a piece of the zircon pie at a time when it is pursuing an aggressive global expansion strategy.
Led by chief executive Oliver B Hasler since 2015, the Australian-headquartered company recently acquired the Tisma project in Indonesia, which, following its development plus expansion of its flagship Mandiri project, will double group production.
The Company plans to grow into one of the world’s most prominent mineral sands producers - against a backdrop of tightening supply, rising prices, and growing demand for zircon in semiconductors, electronics, solar and fuel cells, ceramics and fibre optics.