PNX Metals Announces Merger and Exploration Progress

PNX Metals Limited (AU:PNX) has released an update.

PNX Metals Limited is set to merge with Kin Mining, creating a diversified resource group with a strong portfolio in gold, silver, base metals, and uranium across Australia. The merger, recommended by PNX’s board, will see shareholders receive 1 KIN share for every 13 PNX shares held, with KIN and PNX shareholders owning approximately 72% and 28% of the merged entity, respectively. Additionally, PNX Metals is progressing with exploration in the Northern Territory, including the significant Thunderball uranium deposit, and has completed the acquisition of the Mt Porter gold project.

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