PYX Resources announced that it has received the modified licence to export ilmenite from the Investment and One-Integrated Services Department (Dinas Penanaman Modal dan Pelayanan Terpadu Satu Pintu/DPMPTSP). With immediate effect the Company can now start exporting ilmenite and deliver on orders placed prior to the modification of the licence. As previously announced, in December 2023the Industrial and Trade Department for Export Tax Billing introduced an additional requirement to the export licence which stipulates the requirement to use two types of Ports, a Loading and Export Port.

This has now been obtained for ilmenite. PYX will be using the Banjarmasin port for loading and Jakarta port to export. As previously stated,PYX has been producing and stockpiling ilmenite and rutile since 2022 and by the end of December 2023, had accumulated 10kt of Titanium Dioxide material (pre-audit).

The start of shipping ilmenite will represent a significant milestone for the Company and significantly strengthen its financial position. Further updates on the start of shipping will be provided in due course as appropriate.