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PNX Metals Ltd To Reveal Financing Transactions For Hayes Creek

PNX Metals Ltd (ASX:PNX) has been granted a trading halt by the ASX this morning, pending details regarding several financing transactions in relation to the Hayes Creek Project.

Recently a Scoping Study on the project identified a base case pre-tax project Net Present Value of A$109.4 million with an Internal Rate of Return of 58%, giving a payback period of less than two years.

These metrics have the potential to be very attractive to financers, and with growth in the resource or processing optimisation set to improve metrics further, these could be catalysts for project funding discussions.

The halt will remain in place until the opening of trade on Wednesday 8th June 2016, or earlier if an announcement is made to the market.

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