PYX Resources Ltd (NSX: PYX) has confirmed that its financial position remains very favourable, with strong cash reserves at the end of March 2020.
The company told shareholders it has a solid order book, positive customer outlook for demand and a factory operating at maximum capacity until the end July 2020.
The company said continues to work closely with its customers as usual, in order to meet their demand requirements.
PYX also reported that there have been no cases of COVID-19 at its operations or offices.
The company said that when confronted with the COVID-19 pandemic it moved quickly and with great care for the welfare of our staff, contractors and the communities we work in to ensure early preventive measures were put in place, modifying how the company conducted its business.
Chairman and Chief Executive Officer, Oliver Hasler, also said the company has hired additional resources to promote workplace respiratory hygiene, temperature checks and continuous communication in order to detect any possible symptoms immediately.
“While I am very pleased to acknowledge that there have been no COVID-19 cases within our operations, we will continue to remain vigilant by paying close attention to the rapidly changing landscapes we face, and the measures mandated by the national and provincial governments where we operate, while continuing to service our global customer base and meeting their demand,” Mr Hasler said.
“PYX Resources’ top priorities continue to be undertaking safe, high impact, responsible, value add activities and following a prudent Capex investment strategy.”
PYX Resources Limited is a global producer of premium zircon listed on the National Stock Exchange of Australia. The company’s flagship asset is the Mandiri mineral sands deposit, located in the alluvium sediment rich region of Central Kalimantan, Indonesia.
Boasting the world’s 5th largest producing deposit of zircon, PYX is a large-scale, near-surface open pit operation in production since 2015 and with exploration to date validating the presence of additional valuable heavy minerals such as rutile, ilmenite among others within its mineral sands.