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PPX Announces Reinstatement of Trading on the TSX Venture Exchange, Corporate Update and Strategic Alternatives Review
VANCOUVER, BC / ACCESSWIRE / February 10, 2022 / PPX Mining Corp. (the " Company " or " PPX ...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Announces Reinstatement of Trading on the TSX Venture Exchange, Corporate Update and Strategic Alternatives ReviewVANCOUVER, BC / ACCESSWIRE / February 10, 2022 / PPX Mining Corp. (the \"Company\" or \"PPX\") is pleased to announce that the TSX Venture Exchange (the \"Exchange\") has approved the application for reinstatement of trading of the Company's common shares (the \"Shares\"). The Exchange suspended trading in the Shares because of the dual cease trade order (the \"CTO\") issued by the British Columbia Securities Commission and the Ontario Securities Commission on February 3, 2021 for the delay in the filing of the Company's audited annual consolidated financial statements, management's discussion and analysis and associated officer certificates for the Company's financial year ended September 30, 2020. The CTO was revoked on February 8, 2022 (see the Company's news release issued on February 9, 2022).The Shares will reinstate trading on the Exchange at the opening of trading February 11, 2022.In connection with the reinstatement of trading, PPX is pleased to provide a Corporate Update and Strategic Alternatives Review. Immediate short and medium-term goals for PPX are focused on the following:Increase Mine Production: As reported in the Company's recent audited Annual Financial Statements for 2021, Mina Callanquitas is generating significant cashflow for the Company. Increasing mine production, coupled with sourcing high-quality toll mill capacity, can provide immediate relief to our balance sheet. The Company's mining partner, Proyectos La Patagonia S.A.C., has the human resources and mining equipment required to expand mine production; therefore, sourcing additional toll milling capacity is the focus.Resume Exploration at Igor: For the past two years, the combined effects of the global pandemic and limited deployable capital, have forced the Company to curtail exploration activities at Igor. With increased cashflow from gold and silver production at Mina Callanquitas, PPX is undertaking a comprehensive review of exploration objectives including underground drilling at Mina Callanquitas, surface drilling between Mina Callanquitas and the Portachuelos target area, surface and possibly underground exploration at Portachuelos. These targets will be prioritized, provisional budgets evaluated, and permitting timelines e...