Phoenix Copper Limited / Ticker: PXC / Sector: Mining
28 November 2024
Phoenix Copper Limited
("Phoenix" or the "Company")
New Website and Updated Corporate Presentation
Phoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY), the AIM-quoted USA-focused base and precious metals emerging producer and exploration company, is pleased to announce that it has launched a new Company website, which can be viewed via the following link: https://phoenixcopper.com.
In conjunction with this rebranding exercise, the Company also announces that an updated Corporate Presentation has been uploaded to the website and is now available for download via: https://phoenixcopper.com/investors/corporate-presentation/.
The presentation makes reference to the Company's aim of completing the permitting process for the Empire Mine during 2025, followed by the commencement of production during 2026. For the avoidance of doubt, these timelines are estimates and are dependent upon both the satisfactory completion of the permitting process and the Company having access to funding to complete the construction of the Empire Mine.
Market Abuse Regulation (MAR) Disclosure
The Company deems the information contained within this announcement to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Environmental, Social, and Corporate Governance
Phoenix is committed to meeting and exceeding the environmental standards required by law as a core value of the Company. The baseline environmental data collected to date will be used to further the permitting process, but as importantly, will be used as the building blocks for the Company's ongoing Environmental, Social, and Corporate Governance ("ESG") platform, overseen by the Company's ESG & Sustainability Committee.
For further information please visit https://phoenixcopperlimited.com.
| Phoenix Copper Limited | Ryan McDermott Paul de Gruchy Richard Wilkins | Tel: +1 208 9547039 Tel: +44 7484 203 720 Tel: +44 7590 216 657 |
| SP Angel Corporate Finance LLP (Nominated Adviser) | David Hignell / Caroline Rowe / Devik Mehta | Tel: +44 20 3470 0470 |
| Tavira Financial Limited (Joint Broker) | Jonathan Evans / Oliver Stansfield | Tel: +44 20 7100 5100 |
| Zeus Capital Limited (Joint Broker) | Harry Ansell / Katy Mitchell | Tel: +44 20 7220 1666 |
| Panmure Liberum (UK) Limited (Joint Broker) | Mark Murphy / Kieron Hodgson | 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 specialising 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%. In May 2024 the Company published its inaugural mineral reserve statement for the Empire Open-Pit Mine. Proven and Probable mineral reserves are 10.1 million tonnes containing 109,487,970 lbs of copper, 104,000 oz of gold and 4,654,400 oz of silver. This reserve was estimated using assay data from 485 drill holes, extensive geological modelling, metallurgical recovery test work, geotechnical evaluation, and mine design. The reserve represents a combined 66,467 tonnes of copper equivalent metal.
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 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 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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