TIDMPXC
RNS Number : 2551O
Phoenix Copper Limited
06 October 2021
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
6 October 2021
Phoenix Copper Limited
('Phoenix' or the 'Company')
Block Listing Six Monthly Return
Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted USA
focused base and precious metals emerging producer and exploration
company, announces the following block listing six monthly
return:
Name of applicant: Phoenix Copper Limited
Name of scheme: Warrants
-------------------------------------
Period of return: From: 06/04/2021 To 06/10/2021
------------------- -------------- ---- ---------------
Balance of unallotted securities
under scheme (s) from previous return: 7,150,847
-------------------------------------
Plus: The amount by which the block 6,812,396 being:
scheme(s) has been increased since 4,812,396 warrants exercisable
the date of the last return (if at 38.5p valid to 31/3/24 and
any increase has been applied for): 2,000,000 warrants exercisable
at 50p valid to 30/6/24
-------------------------------------
Less: Number of securities issued/allotted
under scheme(s) during period (see
LR3.5.7G): 558,600
-------------------------------------
Equals: Balance under scheme(s)
not yet issued/ allotted at end
of period: 13,404,643
-------------------------------------
Name of contact: Richard Wilkins, CFO
Telephone number of contact: +44 (0) 7590 216 657
-------------------------------------
Application to trading on AIM
Application has been made to the London Stock Exchange for a
block admission of up to 6,812,396 ordinary shares of no par value
in the Company to be admitted to trading on AIM ("Admission").
Admission is expected to become effective at 8.00a.m. on or around
12 October 2021. As and when the warrants are exercised, the shares
will be issued fully paid and will rank pari passu in all respects
with the existing issued ordinary shares of the Company.
These shares will be block listed pursuant to the Company's
existing application which was filed to enable holders of the
Company's warrants to continue to voluntarily exercise them without
the need for the issue of a separate RNS and admissions filing each
time this occurs.
Total Voting Rights
The total number of ordinary shares of no par value in the
Company as at the date of this announcement is 116,871,995 shares.
For the purposes of the Disclosure Guidance and Transparency Rules,
shareholders may use this figure as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
issued share capital of the Company. No ordinary shares are held in
treasury.
Contacts
For further information please visit https://phoenixcopperlimited.com or contact:
Phoenix Copper Limited Ryan McDermott Tel: +1 208 954
Dennis Thomas 7039
Richard Wilkins Tel: +44 7827
290 849
Tel: +44 7590
216 657
SP Angel (Nominated David Hignell / Caroline Rowe Tel: +44 20 3470
Adviser) 0470
------------------------------------ ---------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20 3463
(Joint Broker) 5000
------------------------------------ ---------------------
WH Ireland (Joint Harry Ansell / Adam Pollock Tel: +44 207 2201666
Broker) / Katy Mitchell
------------------------------------ ---------------------
Panmure Gordon (UK) John Prior / Hugh Rich / Ailsa Tel: +44 20 7886
Limited (Joint Broker) Macmaster 2500
------------------------------------ ---------------------
EAS Advisors (US Matt Bonner / Rogier de la Rambelje Tel: +1 (646)
Corporate Adviser) 495-2225
------------------------------------ ---------------------
Blytheweigh Tim Blythe / Megan Ray Tel: +44 20 7138
(Financial PR) 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 from
late 2022.
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 north west of the
Empire Mine proposed open pit, has revealed high grade silver /
lead sulphide ore and from three shallow exploration drill holes a
NI 43-101 compliant maiden resource of 1.6 million silver
equivalent ounces was reported. Additionally, the district includes
Navarre Creek, a volcanic hosted, Carlin-type gold discovery which
hosts a 6.1 km gold strike length within a 14.48 km(2) 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 First Cobalt Corporation, Toronto, in respect of one of
those properties.
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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