PYX Resources (PYX AO) has announced an interim operational update which shows a 25% YoY increase in zircon output to 3,501t of zircon which combined with the strong price increases previously announced should translate into stronger earnings for H1 2021. Although we had forecast a 10% YoY increase in average zircon prices for 2021F rising to over US$2,200/t by 2023F, these forecasts now look conservative particularly as Argus Media recently reported that some transactions have closed at higher ....
