Phoenix Copper Ltd - base and precious metals explorer in US state of Idaho - Pretax loss widens to $1.6 million in 2022 from $969,250 in 2021. Records no revenue, unchanged from the previous year. Phoenix Copper expects market volatility to remain until the war in Ukraine reaches a conclusion.
Chief Executive Officer Ryan McDermott says: ‘Market conditions and pricing will continue to fluctuate to some extent over the next year. However, the timing of stabilising trends in the manufacturing and supply sectors, as well as elevated copper and gold prices, should complement our projects as we complete the engineering and environmental permitting processes.
‘Our team of engineers, geoscientists, and industry consultants are poised to move the Empire Mine into production and to properly explore the Navarre Creek, Red Star, and the Empire sulphides projects.’
Current stock price: 23.38 pence, up 6.3% on Monday
12-month change: down 53%
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