PNX Metals (ASX:PNX)

PNX Metals (ASX:PNX)

PNX Metals (ASX: PNX) is a mineral resources exploration and development company. The company holds a significant base and precious metals tenement portfolio, primarily in the Northern Territory but also in South Australia.

The company’s key focus is the development of its Hayes Creek zinc-gold-silver project, which contains the Iron Blow and Mt Bonnie deposits located less than 3 kilometres apart in the Pine Creek region, 170 kilometres south of Darwin.

A preliminary feasibility study (PFS) on Hayes Creek was completed in June 2017, confirming the potential for the project to become a low-cost, high-margin zinc and precious metals mine. PNX has since commenced a definitive feasibility study on the project, with the potential for the economics to be enhanced through exploration that the company has been undertaking simultaneously.

The company’s land position in the Northern Territory includes four wholly owned tenements, as well as 19 exploration licences and four mineral leases, covering approximately 1,700 square kilometres in which it holds a 90 percent interest via its strategic joint venture with gold producer Newmarket Gold. Newmarket Gold is a subsidiary of Canadian listed Kirkland Lake Gold Ltd.

Board and Management


Graham Ascough

Graham Ascough (BSc, PGeo, MAu) has industry experience evaluating mineral projects and resources in Australia and overseas. He is currently non-executive Chairman of three other ASX-listed companies: Mithril Resources Limited, Musgrave Minerals Limited and Avalon Minerals Limited.

Graham, a geophysicist by training, has had broad industry involvement playing a leading role in setting the strategic direction for companies, completing financing and in implementing successful exploration programmes.

He was the Managing Director of Mithril Resources Ltd from October 2006 until June 2012. Prior to joining Mithril in 2006, he was the Australian Manager of Nickel and PGM Exploration at the major Canadian resources house, Falconbridge Limited, which was acquired by Xstrata Plc in 2006.

Graham was also a councillor of the South Australian Chamber of Mines and Energy and Chair of its Exploration Committee from 2006 ~ 2012 and has strong ties to the South Australian resources industry. He is a member of the Australian Institute of Mining and Metallurgy and is a professional geoscientist of Ontario, Canada.

Paul John Dowd
Non-Executive Director

Paul Dowd has more than 50 years’ experience in the mining industry in Australia and many overseas countries. In April 2012, he retired as Managing Director of PNX, a position he assumed in September 2008, but remains on the Board as a non-executive director.

His experience includes executive management roles including Vice President of Newmont Mining Corporation’s Australian and New Zealand Operations and Managing Director of Newmont Australia Limited, and as a senior public servant, as head of the resources and petroleum department in the Kennett Government of Victoria.

He sits on the board of the South Australian Mineral Resources & Heavy Engineering Skills Centre and is a non-executive director of Oz Minerals Limited and Energy Resources of Australia Limited (ERA). Paul is also a board member of the Sustainable Minerals Institute (University of Queensland) and Chairman of the Mineral Resources Sector Advisory Council of the CSIRO.

Peter James Watson
Non-Executive Director

Peter Watson, a founder of PNX Metals Limited, studied Law at Melbourne University and graduated with honours. He has practiced law for more than 45 years, specialising in commercial, corporate, resources and trade practices law. He is admitted to practice in South Australia, New South Wales, Victoria and Western Australia as well as the High Court of Australia.

For more than 20 years Peter was a partner in the national law firm now known as Norton Rose Fulbright. During that time he established, and for four years managed, its Perth office. He also managed its Melbourne office for two years.

In 1996, Peter joined Andersen Legal as its first Melbourne partner and in 1999 was recruited by Normandy Mining Limited as its group legal counsel and a group executive. Following the takeover of Normandy by Newmont Mining Corporation, Peter returned to private legal practice and founded the successful Adelaide boutique law firm Watsons Lawyers, which in 2016 merged with Piper Alderman.

Peter is a member of the board of trustees of the Bethlehem Griffiths Research Foundation (a medical research charitable foundation) and a non-executive director of Felton Grimwade and Bosisto’s Pty Ltd (a manufacturer and supplier of eucalyptus products and over-the-counter therapeutic products).

David Hillier
Non-Executive Director

David Hillier is a Chartered Accountant and has more than 40 years’ experience in commercial aspects of the resources industry.

He has served as Chairman and as a director of a number of public companies in the mining and exploration field, including Lawson Gold Limited and Buka Gold Limited.

Throughout 2008, David was Chief Financial Officer and an executive director of AIM listed Minerals Securities Limited, based in London. Between 1989 and 2002, he held a range of senior executive positions in the Normandy Mining Limited Group of companies and was Chief Financial Officer of Normandy for six of these years. David is currently Executive Chairman of a private minerals exploration group.

James Fox
Managing Director & Chief Executive Officer

James Fox has been CEO of the company since May 2012 and was appointed to the Board as Managing Director in November 2014. James has 20 years’ experience in the mining industry. Prior to working for PNX, he was responsible for the development and operation of the Nickel Laterite Heap Leach project at the Murrin Murrin operations in Western Australia.

James has held various senior processing positions including Process Manager at the Nifty Copper Operation in Western Australia. He has worked in the UK, Cyprus, Uganda and Australia in gold, lead, zinc, copper, nickel and cobalt mining operations.

Tim Moran
Chief Financial Officer & Company Secretary

Tim Moran has been the Chief Financial Officer and Company Secretary of PNX since 2012. Tim is a Chartered Accountant with 20 years’ experience in accounting and finance and more than 10 years’ experience in the mining and energy industries.

He has a Bachelor of Commerce (Honours) from the University of British Columbia (Vancouver, Canada). Prior to commencing with PNX, he was the CFO and Company Secretary of a Canadian-listed oil and gas company in Calgary, Canada and before that spent 12 years with global accounting and professional services KPMG.

Andy Bennett
Exploration Manager

Andy Bennett commenced with PNX in January 2015. He has more than 20 years’ experience in the exploration and mining industries, with roles in a wide variety of geological settings at both junior and large companies.

Andy has a solid technical background gained from exploration and underground mining positions with WMC Resources and BHP Billiton, where he was Chief Geologist during the Olympic Dam open pit expansion studies.

He has also managed project developments, exploration projects and feasibility studies with junior iron ore, gold and uranium companies. Prior to joining PNX, he was part of the team which brought the Roper Bar iron deposits in the Northern Territory from discovery into production within four years.

PNX Metals (ASX:PNX)