PYX - PYX Resources should have a very good second half
(NewsDirect)
PYX Resources Ltd (LSE:PYX, NSX:PYX) chiefexecutive Oliver Hasler speaks to Proactive's Thomas Warner afterthe world's third-largest publicly traded zircon producer releasedits interim results for the six months to 30 June.
Hasler gives an overview of the productionand sales growth achieved in premium zircon and highlights an 8%reduction in costs that he attributes to economies of scale. Despitechallenges, including COVID-related disruptions, PYX achieved positiveunderlying EBITDA for the second consecutive year.
Hasler says he would have preferred toreceive the relevant export licenses for ilmenite and rutile duringthe first half but has received them during the post-period andanticipates a strong second half, benefiting from stockpiledmaterials.
PYX aims to furtherenhance volume, targeting 48,000 tonnes of premium zircon in theirfive-year plan, coupled with cost reductions through in-house miningand increased byproduct sales.
Hesays "we've never had debt... we should have a very goodsecond half with increased volumes like we've been showing halfafter half in our mineral sands production."
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