Source - LSE Regulatory
RNS Number : 4082I
Phoenix Copper Limited
27 March 2024
 

27 March 2024

 

Phoenix Copper Limited

("Phoenix" or the "Company")

 

Extension of Warrants

 

Phoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY), the AIM quoted USA-focused base and precious metals emerging producer and exploration company, announces that it has extended the expiry date on a class of warrants that were granted to advisers and brokers in conjunction with the Company's fundraise which was announced on 5 March 2021.

 

The expiry date on 3,347,813 warrants, with an exercise price of 38.5 pence per share (the "Warrants"), has been extended from 31 March 2024 to 30 June 2024. The exercise price of the Warrants will remain unchanged.

 

 

For further information, please visit https://phoenixcopperlimited.com 

 

Contacts

 

Phoenix Copper Limited

Ryan McDermott

Brittany Lock

Richard Wilkins

Tel: +1 208 954 7039

Tel: +1 208 794 8033

Tel: +44 7590 216 657

 

 

SP Angel Corporate Finance LLP (Nominated Adviser)

David Hignell / Caroline Rowe / Kasia Brzozowska

 

Tel: +44 20 3470 0470

Tavira Financial Limited (Joint Broker)

Jonathan Evans / Oliver Stansfield

 

Tel: +44 20 7100 5100

WH Ireland (Joint Broker and Joint Bookrunner)

 

Harry Ansell / Katy Mitchell

Tel: +44 20 7220 1666

Panmure Gordon (UK) Limited (Joint Broker and Joint Bookrunner)

 

Mark Murphy / Will Goode / Joseph Tan

Tel: +44 20 7886 2500

EAS Advisors (US Corporate Adviser)

 

Matt Bonner / Rogier de la Rambelje

Tel: +1 (646) 495-2225

BlytheRay
(Financial PR)

Tim Blythe / Megan Ray

Tel: +44 20 7138 3204

 

Notes

 

Phoenix Copper Limited is an emerging producer and exploration company specializing in base and precious metals, with an initial focus on copper, gold, and silver extraction from an open-pit mining operation within the United States.

 

Located in the historic Alder Creek mining district near Mackay, Idaho, Phoenix's flagship asset is the Empire Mine, in which the Company holds an 80% ownership stake. The historic Empire underground mine, located beneath the surface of the Company's proposed open pit, boasts a rich history of producing high-grade copper, gold, silver, zinc, and tungsten.

 

Since 2017, Phoenix has executed extensive drilling initiatives, resulting in an expansion of the Empire Open-Pit resource by over 200%. The measured and indicated resource currently stands at 22,909,059 tonnes, with an average grade of 0.38% copper, 0.324 grams per tonne ("g/t") gold, 10.3 g/t silver, and 0.19% zinc. This resource represents 87,543 tonnes of copper, 238,406 ounces of gold, and 7,595,198 ounces of silver.

 

In addition to the Empire Mine, Phoenix's holdings in the district also encompass the Horseshoe, White Knob, and Blue Bird Mines, all of which have been producers of copper, gold, silver, zinc, lead, and tungsten from underground operations, a new high-grade silver and lead orebody at Red Star, and the Navarre Creek gold exploration project, which was first drilled in 2023. The Company's land package at Empire spans 8,434 acres (34.13 sq km).

 

Phoenix also owns two cobalt properties situated along the Idaho Cobalt Belt to the north of Empire. An Earn-In Agreement has been established with Electra Battery Materials, Toronto, concerning one of these properties.

 

Phoenix is listed on London's AIM (PXC), and trades on New York's OTCQX Market (PXCLF and PXCLY (ADRs)). More details on the Company, its assets and its objectives can be found on PXC's website at https://phoenixcopperlimited.com/

 

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