Phoenix Global Mining Ltd Director Dealing (7249G)

TIDMPGM

RNS Number : 7249G

Phoenix Global Mining Ltd

05 March 2018

Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining

5 March 2018

Phoenix Global Mining Ltd ('Phoenix' or the 'Company')

Director Dealing

Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted, North American-focused base and precious metals exploration and development company, has today been informed that Richard Wilkins, Chief Financial Officer of the Company, purchased 42,814 shares of nil par value in the Company ("Shares) on 5 March 2018 at a price of 4.85 pence per share.

Following completion of the share purchase, Richard Wilkins holds 6,074,963 Shares which will represent 2.64 per cent. of the issued share capital and total voting rights of the Company.

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:                              Richard Wilkins 
---  ---------------------------------  ------------------------------------------ 
 2.   Reason for the notification 
---  ----------------------------------------------------------------------------- 
 a)   Position/status:                   Chief Financial Officer 
---  ---------------------------------  ------------------------------------------ 
 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 par 
       instrument, type of instrument:    value each 
       Identification code: 
                                          ISIN: VGG7060R1055 
---  ---------------------------------  ------------------------------------------ 
 b)   Nature of the transaction:         Purchase of shares 
---  ---------------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s):              Price(s)      Volume(s) 
                                           ------------  ---------- 
                                            4.85 pence    42,814 
                                           ------------  ---------- 
---  ---------------------------------  ------------------------------------------ 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)      Volume(s) 
       Price:                             ------------  ---------- 
                                           4.85 pence    42,814 
---  ---------------------------------  ------------------------------------------ 
 e)   Date of the transaction:           5 March 2018 
---  ---------------------------------  ------------------------------------------ 
 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 
                                                            [phone] 
                                                                   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 North American-focused, base and precious metal explorer and developer, which is fast-tracking the historically-producing Empire Mine in Idaho, USA, back into production and exploring for cobalt in Idaho and gold in Canada.

Having established an initial copper oxide JORC and NI 43-101 resource of 19.4 mt grading 0.47% copper ('Cu') for 90,547 t contained Cu, plus zinc, gold and silver, 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. 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 Economic Analysis 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.

The Company also holds two prospective cobalt properties in Idaho, US, which are located north of the Empire Mine. These are situated close to the town of Cobalt and are close to projects being advanced by Canadian junior miners, including eCobalt Solutions and US Cobalt. Exploration will continue during 2018 to identify drilling targets.

The Company has also acquired an exclusive option to explore and develop the Gordon Lake Project, in the Northwest Territories, Canada, a high grade shear hosted gold project comprising of 17 known mineralised zones of which only four have been tested with 59 diamond drill holes. The Company will proceed to examine the optimal way forward to develop the project as a low-cost underground gold producer.

With a management team that has successfully constructed, commissioned and operated mines and low risk, mining-friendly jurisdictions with excellent infrastructure, Phoenix is looking to fulfil its ambitions to become a mid-tier base and precious metal producing company, offering exposure to three high value and high demand 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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March 05, 2018 09:30 ET (14:30 GMT)