TIDMPXC
RNS Number : 1531I
Phoenix Copper Limited
12 April 2022
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
12 April 2022
Phoenix Copper Limited
("Phoenix" or the "Company")
Result of Annual General Meeting
Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY) the AIM quoted
USA focused base and precious metals emerging producer and
exploration company, is pleased to announce that all of the
resolutions put to shareholders at the Annual General Meeting held
today were duly passed.
No. Ordinary Resolutions For Against Votes Withheld
To receive and adopt
the Company's annual
accounts for the financial
year ended 31 December
2021, together with
the report of the directors
of the Company and the
auditors' report on
1 those accounts. 20,643,150 4,773,599 68,954
------------------------------- ----------- ---------- ---------------
To reappoint Crowe U.K.
LLP as the Company's
2 auditors. 25,485,703 0 0
------------------------------- ----------- ---------- ---------------
To authorise the directors
of the Company to determine
3 the auditors' remuneration. 25,416,660 89 68,954
------------------------------- ----------- ---------- ---------------
To re-elect Andre Cohen,
who is retiring in accordance
with Article 12 of the
Company's Articles of
Association and who,
being eligible, offers
4 himself for re-election. 20,712,104 4,773,599 0
------------------------------- ----------- ---------- ---------------
To re-elect Jason Riley,
who is retiring in accordance
with Article 12 of the
Company's Articles of
Association and who,
being eligible, offers
5 himself for re-election. 23,330,493 2,155,210 0
------------------------------- ----------- ---------- ---------------
To authorise the directors
of the Company to allot
and issue shares in
6 the capital of the Company. 25,409,160 89 76,454
------------------------------- ----------- ---------- ---------------
Special Resolution
To dis-apply the statutory
pre-emption rights in
respect of the allotment
and issue of shares
pursuant to the authority
referred to in Resolution
7 6 above. 25,371,227 89 89,387
------------------------------- ----------- ---------- ---------------
Contacts
For further information please visit
https://phoenixcopperlimited.com or contact:
Phoenix Copper Ryan McDermott Tel: +1 208
Limited Brittany Lock 954 7039
Richard Wilkins Tel: +1 208
794 8033
Tel: +44 7590
216 657
SP Angel Corporate David Hignell / Caroline Tel: +44 20
Finance LLP (Nominated Rowe 3470 0470
Adviser)
----------------------------------- ---------------
Tavira Securities Jonathan Evans / Oliver Stansfield Tel: +44 20
Ltd (Joint Broker) 7100 5100
----------------------------------- ---------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 207
Broker) / Katy Mitchell 2201666
----------------------------------- ---------------
Panmure Gordon John Prior / Hugh Rich / Tel: +44 20
(UK) Limited Ailsa Macmaster 7886 2500
(Joint Broker)
----------------------------------- ---------------
EAS Advisors Matt Bonner / Rogier de la Tel: +1 (646)
(US Corporate Rambelje 495-2225
Adviser)
----------------------------------- ---------------
BlytheRay Tim Blythe / Megan Ray Tel: +44 20
(Financial PR) 7138 3204
----------------------------------- ---------------
Notes
Phoenix Copper Limited is a USA focused, base and precious
metals emerging producer and exploration company, initially
targeting copper and zinc production from an open pit mine.
Phoenix's primary operations are focused near Mackay, Idaho in
the Alder Creek mining district, at the 80% owned Empire Mine
property, which historically produced copper at grades of up to 8%,
as well as gold, silver, zinc and tungsten, from an underground
mine.
Since 2017, Phoenix has carried our extensive drill programmes
which have defined a NI 43-101 compliant PEA (preliminary economic
assessment) for an open pit heap leach solvent extraction and
electrowinning ("SX-EW") mine, which was updated in October 2020.
The contained metal in all NI 43-101 compliant categories of
resources, Measured, Indicated and Inferred, stand at 129,641
tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of
silver and 58,440 tonnes of zinc. Phoenix updated its economic
model in February 2021 to include the processing of all contained
metals through a two phased approach.
In addition to Empire, the district includes the historic
Horseshoe, White Knob and Blue Bird Mines, past producers of
copper, gold, silver, zinc, lead and tungsten from underground
mines. A new discovery at Red Star, 330 metres northwest of the
Empire Mine proposed open pit, has revealed high grade silver /
lead sulphide ore, and from three shallow exploration drill holes a
maiden resource of 103,000 tonnes containing 173.4 g/tonne silver,
0.85 g/tonne gold and 3.85% lead (1.6 million ounces silver
equivalent) was reported in an NI 43-101 technical report published
in May 2019. Additionally, the district includes Navarre Creek, a
volcanic hosted precious metals target in a 14.48 sq km area. The
Company's total land package at Empire comprises 8,034 acres (32.51
sq kms).
At Empire, it is estimated that less than 1% of the potential
ore system has been explored to date and, accordingly, there is
significant opportunity to increase the resource through phased
exploration. The stated aim of the Company is to fund this phased
exploration through free cashflow generated by its initial mine. A
Plan of Operations in respect of the initial open pit mine was
filed with the relevant regulatory authorities in June 2021.
Phoenix also has two wholly owned cobalt properties on the Idaho
Cobalt Belt to the north of Empire. An Earn-In Agreement has been
signed with Electra Battery Metals (formerly First Cobalt
Corporation), Toronto, in respect of one of those properties.
Phoenix is listed on London's AIM (PXC), and trades on New
York's OTCQX Market (PXCLF and PXCLY (ADRs)). More details on the
Company, its assets and its objectives can be found on PXC's
website at https://phoenixcopperlimited.com/
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