Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
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PJX Resources Announces $6.3M Non-Brokered Private Placement to Explore and Drill Priority Critical Metal and Gold Targets in the Sullivan Mining District in Southeastern British Columbia

PJX raises $6.3m to advance drilling at the Sullivan District project, despite concerns regarding shareholder dilution from the capital raise.

By The Northwire Desk — AI Analysis Jun 18, 2026 · 06:00 PJX · 0.135 PJX Resources Inc.
Executive Summary
  • PJX Resources announced a non-brokered private placement of up to 44 million units for gross proceeds of up to $6.3 million CAD.
  • Subscription prices range from $0.125 to $0.18 per unit depending on flow-through status.
  • Each unit includes one common share and one warrant exercisable at $0.20 per share for 24 months.
  • Proceeds will fund exploration and working capital for the Dewdney Trail and Zinger properties in British Columbia.
  • Drilling is scheduled to commence in July 2026 for Dewdney Trail and later summer 2026 for Zinger, pending permit renewals.
  • Flow-through proceeds will be renounced as qualifying Canadian exploration expenses by December 31, 2026.
  • The financing is subject to TSX Venture Exchange approval and includes a four-month statutory hold period.
Material Impact
  • This financing is a direct follow-up to the exploration updates announced in December 2025 and February 2026, which identified high-potential Sedex and RIRGS targets.
  • The market was already aware of the company's need to advance drilling; therefore, the announcement is expected and incremental.
  • The pricing ($0.125-$0.18) sits slightly above the recent trading range ($0.12-$0.14), indicating modest demand but not a premium valuation.
  • Dilution is significant: 44 million new units represent approximately 23.5% dilution on the current ~186.5 million share count, plus an additional 44 million warrants.
  • The capital provides necessary runway to execute the planned drilling program but highlights the company's reliance on continuous equity financings to fund early-stage exploration.
  • No material change to the fundamental thesis; it simply funds the next phase of exploration as previously outlined.
PJX · Price
Company Overview
  • PJX Resources holds a 100% owned 750 km² land package in the historic Sullivan Mining District, British Columbia, adjacent to the former Sullivan Mine (produced >297M oz Ag, 8.4M t Pb, 7.9M t Zn).
  • Flagship projects include the Dewdney Trail Property (Sedex Zn-Pb-Ag-Cu-Co-Au targets) and the Zinger Property (RIRGS gold target).
  • Key targets: Estella Basin, Lewis Ridge, Grundy Creek (Sedex), and Gar (RIRGS gold).
  • The company is in the exploration/discovery stage with no formal reserves or resources. Historical grab samples and drilling have shown high-grade anomalies, but the targets remain untested by modern systematic drilling.
Read the original news release →

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Jul 08, 2026 · 06:00

PJX raised $3.4m to fund drilling at its Sullivan District project.

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