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.

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
269.01
Listing/Admission to trading
15 Nov 2021

Oliver B. Hasler, Chairman and CEO, said:

“Our Dual Listing on the London Stock Exchange today marks a very exciting milestone for PYX, in both our development as well as our future plans as we focus on building a position as a key supplier of premium zircon to support world demand, which remains significant due to constrained supply and increasing applications for its use.

“The Dual Listing will give investors, existing shareholders and the public a global access to participate in the growth and future potential of PYX Resources.”

PYX‘s high-quality premium product boasts whiteness, low radioactivity, and low alumina content, which could help play a role in the transition to net zero. It also plans to add rutile and ilmenite into its sales mix - opening up additional revenue opportunities in the future.

VSA Capital Limited is acting as financial advisor and broker for the Company and St Brides Partners is PR advisors.

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