PolarX Ltd PolarX Ltd (ASX:PXX, OTCQB:PXXXF) executive chairman Mark Bojanjac talked with Proactive's Stephen Gunnion about the company’s activities at the Resourcing Tomorrow conference in London.
Bojanjac discussed PolarX’s strategic $39 million joint venture with ASX-listed gold producer Northern Star, covering its Alaska project. He explained that PolarX spent much of the past year negotiating the deal, which now funds exploration over a 35-kilometre trend.
“We’re doing the work to make something big enough, hopefully for them to finance and mine,” Bojanjac said.
PolarX has also been actively drilling at its gold and silver project in Nevada. The project is surrounded by producing assets, including a newly financed mine just south of its site. Bojanjac said the company had completed a month of drilling in Nevada and is awaiting assay results, as well as from recent work in Alaska.
He noted that current metal prices have had a material impact on project economics, particularly gold and silver. PolarX previously ran a scoping study and now sees the project’s net present value more than doubled due to price changes alone.
The company recently began trading on the OTCQB market in the United States, which Bojanjac said aligns with its operations in Alaska and Nevada. “We’re a US explorer, a soon-to-be miner,” he noted, adding that a stronger US investor presence is a natural fit.
Looking ahead, the main catalysts are the drill results from both Alaska and Nevada. PolarX believes the Nevada target could offer significant upside, being just under a mile from a five-million-ounce deposit.
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