Pasinex Resources — the 50%-owner of the high-grade Pinargozu zinc mine in southern Turkey — has seen its shares climb more than 300% over the past year. Driving the share-price appreciation have been improvements at the Pinargozu mine and the soaring zinc price following supply shortages.
In a telephone interview from Turkey, Pasinex’s founder and CEO Steve Williams says the company has just started reaping the production benefits at Pinargozu.
“The big thing with us was that the last few years were terrible and tough times. And we took the decision to build the mine. This year is where we are really going to benefit … And we expect to show the market that we will have a very good year of zinc production.”
Five years ago, Williams — who previously worked as the managing director at SGS Canada — took Pasinex public with a vision of becoming a base metals miner. “We weren’t trying to be in just exploration. Although exploration is important, our objective was always to build a project that we could take into production.”
Pasinex began evaluating potential partnerships. “Right from the get-go knowing that we wanted to do mining, we went looking for a partner. It was a conscious decision to try to find the right strategic partner.”
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