Pasinex Resources

A Growing Zinc Company

This profile is part of a paid investor education campaign.*


Pasinex (CSE:PSE, FSE:PNX) is one of the very few pure-play zinc companies in production. They actively mine Zinc in the Adana region of Turkey with a 33% grade. Pasinex has an active approach to exploration with a planned $3.4 million budget in 2018.

Their mission is to build a mid-tier zinc company based on its mining and exploration projects in Turkey and Nevada.

Pasinex owns 50% of the producing Pinargozu high grade zinc mine and, under a Direct Shipping Program, sells to zinc smelter / refiners from its mine site in Turkey. The Company also holds an option to acquire 80% of the Gunman high-grade zinc exploration project in Nevada. Pasinex has a strong technical management team with many years of experience in mineral exploration and mining project development.

The Pinargozu mine is held in a separate entity, Horzum Maden Arama ve Isletme A.S. (Horzum AS), which is a corporate joint venture held equally between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal AS is one of Turkey’s largest family-owned conglomerates which also owns the nearby past-producing Horzum zinc mine.

“The way to build a zinc company is one mine at a time.” – Steve Williams

Learn more at

Investment Highlights

  • Net Income of $5.8 million in 2017
  • 64% Gross margin in 2017
  • Average grade of zinc at Pinargozu was 33% in 2017
  • Pinargozu produced 57,675 tonnes (wet weight) of direct shipping material in 2017
  • NI 43-101 completed on Pinargozu
  • Exploration budget is US $3.4 million in 2018 versus US$1 million in 2017
  • Drilling to commence on their new Gunman Zinc Project, Nevada in Q2 2018
  • Strong operating results and guidance for the Pinargozu mine in 2018


Steve Williams, MBA – President and CEO
Steve Williams is the President and CEO of Pasinex Resources Limited. Mr. Williams graduated with a Bachelor of Applied Science (Extractive Metallurgy) from the Western Australian School of Mines and an MBA from Tulane University. He has worked in the mining industry since 1976 in milling operations in Australia and Canada. He worked 20 years with SGS Lakefield Research in Canada and Chile in both metallurgical project management and business management, finally becoming Managing Director for SGS Canada, a company with about 1300 employees in Canada. Steve has authored many technical papers and in 2004 he became a CIM Distinguished Lecturer and in 2008 a CIM Fellow, for his work in geometallurgy.

Wendy Kaufman, CPA – Chief Financial Officer
Ms. Kaufman, a Chartered Professional Accountant, is a finance executive with over 20 years of international financial experience in the mining sector. She has served in a variety of senior executive positions, most recently as Chief Financial Officer at Primero Mining Corporation, a Canadian-based precious metals producer, and previously as Vice President, Finance and Treasury at Inmet Mining Corporation, a Canadian-based global copper and zinc producer. She brings broad management and corporate finance experience, including financial management and reporting, strategy development, and corporate and project development funding.

John Barry, M.Sc. MBA – Vice President Exploration
Mr. Barry is a specialist economic geologist in the field of zinc exploration and project development. Mr. Barry holds a Master’s Degree in Geology from Pennsylvania State University and a MBA from the Edinburgh School of Business, Heriot-Watt University, Scotland. Mr. Barry was a co-founder and then CEO and President of zinc exploration and development company Rathdowney Resources Ltd (TSX-V). Mr. Barry has worked in the exploration and mining industry for 30 years and has consulted to the industry as an associate of the CSA Group and Chlumsky Armbrust & Meyer on a wide range of major gold and base metal deposits throughout the world. Mr. Barry has extensive experience as a Qualified Person in mineral exploration and is a member of a Technical Advisory Group to assist the United Nations Economic Commission for Europe (UNECE) Expert Group on Resource Classification (EGRC). Mr. Barry is also a representative of the Institute of Geologists of Ireland.

Mr. Barry is Pasinex’s qualified person (QP) as defined by N1 43-101.

Evan White – Manager of Corporate Communications
Evan White is the Manager of Corporate Communications at Pasinex Resources Limited. Mr. White graduated with a B.A. (Hons) Economics from Queen’s University. He has worked in the mining industry in various marketing and communication roles since 2006 with a specialization in digital marketing. Mr. White has worked with a broad range of organizations from startups to Fortune 500 all with a goal of driving growth. He brings a strategic, digital focus to the Pasinex team.

Soner Koldas, MSc, Mining & Mineral Processing Eng. – Country Director, Turkey
Soner Koldas is a professional Engineer and has more than 20 years of operational and management experience in the mining industry, with a strong focus on mining and exploration operations, mine management and Mineral Processing both in Turkey and sub Saharan Africa. He has worked on a wide range of commodities including chromite, gold, copper, iron, lead and zinc and coal mines at all phases. Soner has worked for Gold Fields of South Africa, Anglo American, Normandy, Omya, Koc Holding and Ariana Resources Plc. He is presented the country director and general manager of Pasinex Resources of Canada in Turkey.


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