14th Mar 2025 10:41
PYX Resources Ltd - Indonesia-focused zircon and mineral sands producer - Pretax loss narrows to USD4.1 million in 2024 from GBP10.5 million in 2023. This is driven by total expenses being reduced by 55% to USD15.1 million from USD33.2 million. Revenue, however, also halves, to USD11.0 million from USD22.7 million. PYX reports a loss per share of USD0.75 for 2024, against a loss of USD2.32 per share in 2023.
At the end of February, PYX was hit by a hike in royalties on the export of zircon, rutile and ilmenite from Indonesia. The royalties are now 20%, on an increased base price of around IDR4.8 million per tonne, about USD293.50, against the prior 4% royalties on a IDR3.0 million base price.
At the time, Chief Executive Officer Oliver Hasler said this was expected to have "a big impact" on the Indonesian mineral sands industry.
Current stock price: 1.40 pence, down 28% in London on Friday morning
12-month change: down 91%
By Emily Parsons, Alliance News reporter
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