Pasinex Reports Net Income of $1.8M in Q3 and Strong Operating Results at Pinargozu Zinc Mine
TORONTO, ONTARIO--(Marketwired - Nov. 27, 2017) - Pasinex Resources Limited (CSE:PSE)(CSE:PSE.CN)(CNSX:PSE)(FRANKFURT:PNX) (The "Company" or "Pasinex") today reported net income of $1.8M for the third quarter of 2017 compared to $0.4M in the third quarter of 2016. In addition, considering net income from the first half of 2017 of $1.3M, Q3 shows a marked improvement in profitability due to a continuing upward trend in production and sales from its 50%-owned Horzum AS Joint Venture company ("JV company"), in Turkey. In Q3 the Pinargozu Mine produced 15,760 tonnes (wet weight) of direct shipping material (DSO) with an average grade of 35% zinc, which is an increase of 10% from Q2 2017 and 34% from Q1 2017. Mine output grew for the seventh consecutive quarter.