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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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPGM
RNS Number : 9875Q
Phoenix Global Mining Ltd
11 June 2018
Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining
11 June 2018
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Result of Annual General Meeting
Phoenix Global Mining Ltd (LSE AIM: PGM), the AIM quoted, North American-focused base and precious metals exploration and development company, is pleased to announce that all of the resolutions put to shareholders at the Annual General Meeting held today were duly passed.
Accordingly, application has been made for 45,714,286 placing and subscription shares of nil par value each ("Placing and Subscription Shares") which will rank pari passu with the existing ordinary shares in the Company, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8.00am on 12 June 2018.
Director shareholdings
Following the issue of the Placing and Subscription Shares, and the director dealings announced on 5 June 2018, directors of the Company will hold the following shares:
Hot Features
Premium
% of enlarged share
No of ordinary shares held capital following
following admission of the admission of the
Placing and Subscription Placing and Subscription
Director Shares Shares
Marcus Edwards-Jones 3,977,315 1.3%
Roger Turner 11,435,714 3.6%
Dennis Thomas 10,987,584 3.5%
Richard Wilkins 6,304,963 2.0%
Andre Cohen 1,856,669 0.6%
Jason Riley 42,857 0.01%
Ryan McDermott, CEO of Konnex Resource Inc and General Manager of the Empire Mine, will hold 1,802,778 ordinary shares, being 0.6% of the enlarged share capital following admission of the Placing and Subscription Shares.
Total Voting Rights
Following the issue of the 45,714,286 Placing and Subscription Shares, the issued share capital of the Company will consist of 318,000,759 ordinary shares. No shares will be held in treasury at the date of this announcement. The total current voting rights in the Company following the issue of the Placing and Subscription Shares will therefore be 318,000,759.
The above total current voting rights number is the figure which may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in the Company.
Issue of Warrants
The Company has also now issued an aggregate of 4,273,424 warrants to Brandon Hill Capital, SP Angel Corporate Finance LLP and others for services in connection with the placing as announced on 29 May 2018. The warrants are exercisable at a price of 3.5 pence at any time until 30 June 2020.
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: 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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 571,429
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 571,429
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Roger Turner
----------------------------------------- --------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: Chief Technical Officer
and 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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 285,714
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 285,714
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Dennis Thomas
----------------------------------------- --------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: Chief Executive 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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 285,714
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 285,714
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 230,000
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 230,000
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: 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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 150,000
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 150,000
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Jason Riley
----------------------------------------- --------------------------------------
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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 42,857
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 42,857
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Ryan McDermott
----------------------------------------- --------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: CEO of Konnex Resource,
Inc and General Manager
of Empire Mine
----------------------------------------- --------------------------------------
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 instrument, Shares of nil par value
type of instrument: each
Identification code:
ISIN: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Participation in Placing
and Subscription
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.5 pence 215,000
----------
----------------------------------------- --------------------------------------
d) Aggregated information: Single transaction as
Aggregated volume: in 4 c) above Price(s) Volume(s)
Price: 3.5 pence 215,000
----------------------------------------- --------------------------------------
e) Date of the transaction: 11 June 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
**ENDS**
For further information please visit www.pgmining.com or contact:
Phoenix Global Mining Dennis Thomas / Richard Wilkins Tel: +44 7827
Ltd 290 849 (Dennis)
/
+44 7590 216
657 (Richard)
SP Angel Lindsay Mair / Caroline Rowe Tel: +44 20
(Nominated Adviser 3470 0470
and Joint Broker
----------------------------------- ------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20
(Joint Broker) 3463 5000
----------------------------------- ------------------
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 rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 11, 2018 07:15 ET (11:15 GMT)
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