Pyx Resources Limited (GB:PYX) has released an update.
PYX Resources Limited has reported a robust increase in mineral sands sales by 84% to 9.5kt, despite a production decline due to heavy rains and infrastructure challenges. The company secured multi-year licenses for increased extraction and processing capacities, and connected its operations to the local electric grid, significantly reducing fuel costs and carbon emissions. Optimism prevails for the second half of 2024, with anticipated growth in production and sales, underpinned by operational improvements and strategic initiatives to enhance profitability.
For further insights into GB:PYX stock, check out TipRanks’ Stock Analysis page.
