Growth Ambitions and Development Update
Combined two-stage gold-silver-zinc development
Refer PNX ASX release June 2021 for Project PFS
PFS* confirms technical and financial viability of PNX's strategy to sequentially develop its 100% owned
Fountain Head gold and Hayes Creek gold-silver-zinc Projects
Robust, multi-commodity development - forecast unleveraged Pre-tax NPV 8% of A$171 million with 10-
year mine life:
O
Undiscounted revenues of A$972 million (net of treatment, refining and transport charges)
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Pre-tax IRR of 63% with an approximate 18-month payback period
Net revenues of A$352 million, returning a net-cash position of A$276 million after tax
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•
O
O Carry forward tax losses as at 30 June 2020 of A$43.3 million, est. A$53.8 million at Project start
Commodity prices (US$) and FX rates used: gold $1,733/oz, silver $25/oz, zinc $1.31lb,
US$0.77/A$1.00
LOM AISC, net of zinc by-product credits, of A$1,119/oz gold equivalent
Study envisages initial gold mining and processing at Fountain Head (Years 1 to 5) to be followed by
gold-silver-zinc development at Hayes Creek (from Year 4)
Gold processing to take place at a proposed CIL plant located at Fountain Head
Hayes Creek development will utilise the future mined-out Fountain Head pit for tailings storage
Total Life of Mine production estimates of metals recovered to doré and concentrates:
250,500 ounces of gold, 11.4 million ounces of silver, and 116,300 tonnes of zinc
Significant upside potential to production profile via resource growth and discovery from 1,500km² NT
exploration tenure
PNZ
METALS
*See Appendix for further details including Full Mineral Resources
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