Phoenix Global Mining Share Discussion Threads

[snowyflake] 17/11/2017 21:16

and do not ignore the two copper-cobalt properties added to the company's portfolio (see RNS 24th October); something for the future but with the forthcoming demand for cobalt (electric vehicles) which should be a big bonus.

[rampair] 17/11/2017 15:26

Hi all, A bit of background, The Empire mine was very productive in its day & was only closed because the miners were conscripted during WW2!

It is situated in Idaho at around 2000m altitude. As a brownfield site already a lot of complications are removed .& Idaho is very pro mining.
The initial open pit is at the top & the deeper levels are approached by going in the side of the mountain.

Phoenix stands up well compared to to its peers CAML & Asiamet etc. It’s a smaller operation at present but certainly considering that when it was running at full bore it produced some Zinc, even Tungsten was found at a 3% grade (very high)

The initial plan is to make a big heap leach pad. To those not familiar, this is basically a large ore pile that has sprinklers of a sulphuric acid solution spraying the pile, the copper dissolves in the acid & Cathodes recover the copper from the solution.
What is interesting is that at the end of the process, you neutralise the heap with reagents and restart the process with a weak chemical solution to recover the contained Gold and Silver.

What seems to be happening now though is that the company, in its recent drilling has discovered a better copper grade & now have a considerable amount of precious metals to add in &, one assumes they are starting to consider other ways to extract all the metals at once perhaps?

BHC in their recent brokers note suggest that starting with a heap leach may be the way to go, then perhaps switch to a different method (flotation circuit)to capture
all the metals - this method will be needed later as the mine switches from Oxide ore
to Sulphide ore (oxide ore is the ore found nearer the surface & has changed character
rather like iron “oxidises̶1; or Rusts)

The drilling of the mine presently is to expand the quantity of ore, which we have seen with a 33% rise in contained Copper in ore recently. It is also targeting deeper sulphide ore as this is what is believed to be the big prize.
Historically very good grades were worked at this mine, certainly the company now has a lot of metal in situ totalling more than $1bn at today’s price.

Quite an incredible amount considering it’s M.cap of £10.9m.

[moreminer] 16/11/2017 14:27

Yep, its a nice one.

The River of No Return- to be continued...................

[snowyflake] 16/11/2017 14:18

New presentation on the company's website.

[zaphod99] 15/11/2017 11:49

Guardian and Brandon Hill have both produced updated broker notes following this morning's announcement.Available on VOX

[sos100] 15/11/2017 08:48

if the share prices runs to maybe 10p+ on the build up to the pea they could raise additional amounts to drill more of the deeper sulphides now rather than waiting until they start production(depending on the initial results in Dec)

Just look at what's happened to the ARS share price on additional discoveries..

[czar] 15/11/2017 08:25

This just gets better and better

[moreminer] 15/11/2017 08:18

Morning,
Jolly good to read the basket is full of goodies.
And possibly we will get to know some the amounts and grades even before Christmas.
That makes my day!
MM

[chrisis33] 15/11/2017 08:13

From 20 September RNS:

The Empire Mine is a previously producing asset, which produced a total of 694,000t with a recovered grade of 3.64% copper ('Cu'), plus gold, silver and tungsten, from 1901-1942 ... it is estimated that only 5% of the mineralised system has been tested to-date. Accordingly, we believe there is significant discovery potential.

[snowyflake] 15/11/2017 07:28

Dennis Thomas stated "This is just the beginning"

Not long to wait until an initial result for the lower echelons.

[sos100] 15/11/2017 07:10

potential sleeping giant...

[zaphod99] 15/11/2017 07:03

The good news keeps coming.......

Phoenix Global Mining Ltd 33% Rise in Contained Copper #PGM

[andrbea] 12/11/2017 18:09

ABOUT COPPER PRICES

FROM vast THREAD/

Mind blowing now you've had a 7x or so increase in copper prices. With the predicted copper price growth over the next 5 years then things just get silly :)

[chrisis33] 10/11/2017 10:00

Looks an interesting story with the deeper sulphide potential and recent director dealing.

[snowyflake] 08/11/2017 09:44

Thank you SOS for that article; cash OK for the immediate future.

[marmar80] 08/11/2017 08:04

Nice article, interesting plans, but how much money do they have in the bank?

[snowyflake] 06/11/2017 18:32

Seany - I cannot recall you posting on the PGM thread before.

Best that you look at the company's website which will give you the information which you seek.

[seanywauny] 06/11/2017 16:20

What are the copper grades here? Are they more than economical? 1/2/3% Cu?Timescale to PFS completion? TIA

[dell1234] 06/11/2017 15:38

Phoenix write-up in Shares magazine last week:

[igbertsponk] 06/11/2017 11:04

Always nice when a Director adds.

[andrbea] 03/11/2017 19:13

snippet about copper

"Copper: now a precious metal", is mentioned in Money week today, stating Electric Tesla Model S requires three times more copper wiring than an internal combustion engine. Also it says Copper is becoming scarce with yield of copper from each unit of ore mine is dwindling. Also mentions copper as one of the most conductive metals, used in lot more things these days than ever before.

[snowyflake] 02/11/2017 20:25

Yes deuchar - can pick up his comments on Master Investor. He bought some for his wife today.

[deuchar] 02/11/2017 19:08

Evil seems to like it