Phoenix Global Mining Ltd Director Dealings (3968Q)

TIDMPGM

RNS Number : 3968Q

Phoenix Global Mining Ltd

05 June 2018

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

5 June 2018

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

Director Dealings

Phoenix Global Mining Ltd (LSE AIM: PGM), the AIM quoted, North American-focused base and precious metals exploration and development company, has today been informed of the following Director Dealings.

Kay Cohen, wife of Andre Cohen, a Non-Executive Director of the Company, purchased 50,000 shares of nil par value in the Company ("Shares") on 5 June 2018 at a price of 3.65 pence per share.

Following completion of the share purchase, Andre Cohen and his wife hold 1,706,669 Shares which as at today's date, represents 0.63 per cent. of the issued share capital and total voting rights of the Company. 948,334 Shares are held in Andre Cohen's own name and 758,335 Shares are held in the name of his wife.

Marcus Edwards-Jones, Executive Chairman of the Company, purchased 250,000 Shares in the Company on 5 June 2018 at a price of 3.65 pence per share.

Following completion of the share purchase, Marcus Edwards-Jones holds 3,305,886 Shares which as at today's date, represents 1.21 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:                              Kay Cohen, wife 
                                          of Andre Cohen 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status:                   Andre Cohen: 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 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) 
                                           ----------  ---------- 
                                            3.65 
                                             pence      50,000 
                                           ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           3.65 
                                            pence      50,000 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           5 June 2018 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          AIM 
---  ---------------------------------  ---------------------------------------- 
 
 
 1.   Details of the person discharging managerial 
       responsibilities/person closely associated 
---  --------------------------------------------------------------------------- 
 a)   Name:                              Marcus Edwards-Jones 
---  ---------------------------------  ---------------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------------------- 
 a)   Position/status:                   Executive Chairman 
---  ---------------------------------  ---------------------------------------- 
 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) 
                                           ----------  ---------- 
                                            3.65 
                                             pence      250,000 
                                           ----------  ---------- 
---  ---------------------------------  ---------------------------------------- 
 d)   Aggregated information:            Single transaction 
       Aggregated volume:                 as in 4 c) above Price(s)    Volume(s) 
       Price:                             ----------  ---------- 
                                           3.65 
                                            pence      250,000 
---  ---------------------------------  ---------------------------------------- 
 e)   Date of the transaction:           5 June 2018 
---  ---------------------------------  ---------------------------------------- 
 f)   Place of the transaction:          AIM 
---  ---------------------------------  ---------------------------------------- 
 

**S**

For further information please visit www.pgmining.com or contact:

 
 Phoenix Global        Dennis Thomas / Richard   Tel: +44 
  Mining Ltd            Wilkins                   7827 290 
                                                  849 (Dennis) 
                                                  / 
                                                  +44 7590 
                                                  216 657 (Richard) 
--------------------  ------------------------  ------------------- 
 SP Angel              Lindsay Mair / Caroline   Tel: +44 
  (Nominated Adviser    Rowe                      20 3470 0470 
  and Joint Broker 
--------------------  ------------------------  ------------------- 
 Brandon Hill          Jonathan Evans / Oliver   Tel: +44 
  Capital (Joint        Stansfield                20 3463 5000 
  Broker) 
--------------------  ------------------------  ------------------- 
 

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 90,547t 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 8,000t 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. A Preliminary Economic Analysis on the priority open pit oxide resource was completed in April 2018. 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. Phoenix owns 80% of Empire.

The Company also holds 100% of the Bighorn and Redcastle cobalt-copper properties in Idaho, USA, which are located north of the Empire Mine on the Idaho Cobalt Belt. These are situated close to the town of Cobalt and are close to projects being advanced by Canadian junior miners, including eCobalt Solutions and First Cobalt. Exploration will continue during 2018 to identify drilling targets.

The Company has also acquired an exclusive option to earn into 80% of 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 metals producing company, offering exposure to three high value and high demand metals with compelling demand/supply fundamentals.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 05, 2018 11:30 ET (15:30 GMT)