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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Phoenix Global Mining Limited | LSE:PGM | London | Ordinary Share | VGG7060R1139 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.00 | 14.00 | 16.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPGM
RNS Number : 5876V
Phoenix Global Mining Ltd
06 November 2017
Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining
6 November 2017
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Director Dealing
Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted, US-focused copper exploration and development company, has today been informed that Andre Cohen, a Non-Executive Director of the Company, and his wife, Kay Cohen, have each purchased 100,000 shares of nil par value in the Company ("Shares") on 3 November 2017 at a price of 4.3 pence per share.
Following completion of the share purchase, Andre Cohen and his wife hold 1,356,669 Shares representing 0.59 per cent. of the issued share capital and total voting rights of the Company. 748,334 Shares are held in Andre Cohen's own name and 608,335 Shares are held in the name of his wife.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM:
1. Details of the person discharging managerial responsibilities/person closely associated --- --------------------------------------------------------------------------- a) Name: Andre Cohen and Kay Cohen (wife of Andre Cohen) --- --------------------------------- ---------------------------------------- 2. Reason for the notification --- --------------------------------------------------------------------------- a) Position/status: Non-Executive Director --- --------------------------------- ---------------------------------------- b) Initial notification/Amendment: Initial notification --- --------------------------------- ---------------------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- --------------------------------------------------------------------------- a) Name: Phoenix Global Mining Ltd --- --------------------------------- ---------------------------------------- b) LEI: 2138006UWPZAB1A75680 --- --------------------------------- ---------------------------------------- 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted --- --------------------------------------------------------------------------- a) Description of the financial Shares of nil instrument, type of instrument: par value each Identification code: ISIN: VGG7060R1055 --- --------------------------------- ---------------------------------------- b) Nature of the transaction: Purchase of shares --- --------------------------------- ---------------------------------------- c) Price(s) and volume(s): Price(s) Volume(s) ----------- ---------- 4.3 pence 200,000 ----------- ---------- --- --------------------------------- ---------------------------------------- d) Aggregated information: Single transaction Aggregated volume: as in 4 c) above Price(s) Volume(s) Price: ---------- ---------- 4.3 pence 200,000 --- --------------------------------- ---------------------------------------- e) Date of the transaction: 3 November 2017 --- --------------------------------- ---------------------------------------- f) Place of the transaction: AIM --- --------------------------------- ----------------------------------------
**ENDS**
For further information please visit www.pgmining.com or contact:
Phoenix Global Dennis Thomas & Richard c/o St Brides Mining Ltd Wilkins Partners +44 20 7236 1177 --------------------- -------------------------------- -------------- SP Angel Lindsay Mair / Caroline Tel: +44 20 (Nominated Advisor) Rowe 3470 0470 --------------------- -------------------------------- -------------- Brandon Hill Jonathan Evans / Oliver Tel: +44 20 Capital (Broker) Stansfield/ Alex Walker/Robert 3463 5000 Beenstock --------------------- -------------------------------- -------------- St Brides Partners Charlotte Page / Susie Tel: +44 20 (Financial PR) Geliher 7236 1177 --------------------- -------------------------------- --------------
Notes
Phoenix Global Mining Ltd (AIM: PGM) is a US-focused, base metal explorer and developer, which is fast-tracking the historically-producing Empire Mine in Idaho, USA back into production.
Having established an initial copper oxide JORC resource of 12.8mt grading 0.53% copper ('Cu') for 68,200t contained Cu from historical drill holes, Phoenix has defined a two-phase development strategy. Phase One is focused on commencing low cost, open pit production from the current oxide resource, targeting 7,000t copper cathode per annum by 2020 via an SX-EW plant. Stage Two will look to extend the life of mine by targeting the deeper (below c.120m), higher grade copper sulphides, where intercepts of up to 11.4% Cu have been recovered. Preliminary Feasibility Study work on the priority open pit oxide resource is already underway.
It is estimated that only 5% of the potential ore system has been explored to date and accordingly there is significant opportunity to increase the resource through phased exploration; the current resource relates to the oxide resource only, which remains open along strike and does not include the deeper, higher grade sulphides. Furthermore, the Mine has an exploration target of between 3.4 to 6.7 million tonnes (derived from historic data), grading 0.34% to 0.50% Cu for 11,560 to 33,500 tonnes of additional contained copper and there is potential to extract additional metals, including gold, silver, zinc and tungsten.
The Company also holds two highly prospective cobber-cobalt properties in Idaho, US, which are located north of the Empire Mine. These are situated close to the town of Cobalt and are proximal to projects being advanced by Canadian junior miners, including eCobalt Solutions and US Cobalt. Early stage exploration is currently underway and drilling is targeted to commence in 2018.
With a management team that has successfully constructed, commissioned and operated mines and a low risk, mining-friendly jurisdiction with excellent infrastructure, Phoenix is looking to fulfil its ambitions to become a mid-tier base metal producing company, offering exposure to two high demand technology metals with compelling demand/supply fundamentals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
November 06, 2017 02:00 ET (07:00 GMT)
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