IN BRIEF: PYX Resources gets USD4.5 million investment from L1 Capital
11th Mar 2022 14:51
PYX Resources Ltd - Sydney-based producer of zircon - Gets USD4.5 million investment from L1 Capital Global Opportunities Master Fund and says it may get two further investments of USD4.5 million each upon mutual agreement. PYX says the USD4.5 million is a prepayment for USD5.0 million in PYX shares, and PYX will issue 3.0 million shares to L1 for this, with the USD5.0 million suggesting a price of USD1.67 per share. Further issues will be based an agreed price formula. PYX says the money will be used to increase production volume at its Mandiri deposit and start planning operations at the Tisma deposit, both in Central Kalimantan on the island of Borneo in Indonesia. Read More