Phoenix Copper Limited Block Listing Six Monthly Return

RNS Number : 7041J

Phoenix Copper Limited

08 April 2024

 

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

8 April 2024

Phoenix Copper Limited

('Phoenix' or the 'Company')

 Block Listing Six Monthly Return

 

Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY) the AIM quoted USA focused base and precious metals emerging producer and exploration company, announces the following block listing six monthly return:

 

	Name of applicant:		Phoenix Copper Limited
	Name of scheme:		Warrants
	Period of return:	From:	07/10/2023	To	06/04/2024
	Balance of unallotted securities under scheme (s) from previous return:		9,221,457
	Plus: The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):		1,602,827 at 11.5p expiring 31/1/27 3,300,874 at 20p expiring 1/3/27 -
	Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):		none
	Equals: Balance under scheme(s) not yet issued/ allotted at end of period:		14,125,158
Name of contact:			Richard Wilkins, CFO
Telephone number of contact:			[phone]

 

Application to trading on AIM

 

Application has been made to the London Stock Exchange for a block admission of up to 4,903,701 ordinary shares of no par value in the Company to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on or around 15 April 2024. As and when, or if, the warrants are exercised, the shares will be issued fully paid and will rank pari passu in all respects with the existing issued ordinary shares of the Company.

 

These shares will be block listed pursuant to the Company's existing application which was filed to enable holders of the Company's warrants to continue to voluntarily exercise them without the need for the issue of a separate RNS and admissions filing each time this occurs.

 

Total Voting Rights

 

The total number of ordinary shares of no par value in the Company as at the date of this announcement is  149,069,995. For the purposes of the Disclosure Guidance and Transparency Rules, shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company. No ordinary shares are held in treasury.

 

Contacts

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

Phoenix Copper Limited	Ryan McDermott Brittany Lock Richard Wilkins	Tel: [phone]  Tel: [phone] Tel: [phone]
SP Angel Corporate Finance LLP (Nominated Adviser)	David Hignell / Caroline Rowe/ Kasia Brzozowska	Tel: [phone]
Tavira Financial Limited (Joint Broker)	Jonathan Evans / Oliver Stansfield	Tel: [phone]
WH Ireland (Joint Broker)	Harry Ansell / Katy Mitchell	Tel: [phone]
Panmure Gordon (UK) Limited (Joint Broker)	John Prior / Hugh Rich / Ailsa Macmaster	Tel: [phone]
EAS Advisors (US Corporate Adviser)	Matt Bonner / Rogier de la Rambelje	Tel: [phone]
BlytheRay (Financial PR)	Tim Blythe / Megan Ray	Tel: [phone]

 

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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