Phoenix Copper Limited Director Dealing

Fecha : 10/01/2020 @ 05:52
Fuente : UK Regulatory (RNS & others)
Emisora : Phoenix Global Mining Limited (PGM)
Cotización : 15.0  0.0 (0.00%) @ 18:00
Phoenix Global Mining Cotización de acciones Gráfica

Phoenix Copper Limited Director Dealing

Phoenix Global Mining (LSE:PGM)
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2 meses : De Dic 2019 a Feb 2020

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TIDMPXC

RNS Number : 4737Z

Phoenix Copper Limited

10 January 2020

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

10 January 2020

Phoenix Copper Limited (the "Company" or "Phoenix")

Director Dealing

Phoenix Copper Limited (AIM: PXC; OTCQX: PGMLF), the AIM quoted North American focused base and precious metals exploration and development company, has been informed that Marcus Edwards-Jones, Executive Chairman of the Company, purchased 100,000 shares in the Company today at a price of 10.7 pence per share.

Following completion of the share purchase, Marcus Edwards-Jones holds 689,407 shares in the Company which represents 1.54 per cent. of the issued share capital and total voting rights of the Company.

The Company also announces that Brandon Hill Capital has been appointed as the Company's sole broker with immediate effect.

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.

Contacts

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

 
 Phoenix Copper            Dennis Thomas / Richard Wilkins      Tel: +44 7827 
  Limited                                                        290 849 (Dennis) 
                                                                 / 
                                                                 +44 7590 216 
                                                                 657 (Richard) 
 SP Angel                  David Hignell / Caroline Rowe        Tel: +44 20 3470 
  (Nominated Advisor)                                            0470 
                          -----------------------------------  ------------------ 
 Brandon Hill Capital      Jonathan Evans / Oliver Stansfield   Tel: +44 20 3463 
  (Broker)                                                       5000 
                          -----------------------------------  ------------------ 
 Medea Natural Resources   Leonidas Howden / Fred White         Tel: +44 20 7770 
  Ltd (Financial                                                 6926 
  Advisor) 
                          -----------------------------------  ------------------ 
 Blytheweigh               Megan Ray / Rachael Brooks           Tel: +44 20 7138 
  (Financial PR)            / Said Izagaren                      3204 
                          -----------------------------------  ------------------ 
 

Notes

Phoenix Copper Limited 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.

Phoenix's primary operations are focused near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead and tungsten from underground mines in the first half of the twentieth century. Additionally, the district includes Navarre Creek a Carlin-trend gold discovery which hosts a 6.1 km gold strike length within a 9.8 km(2) area.

Phoenix acquired an 80% interest in the historical Empire Mine property in 2017 and, based on a total of 320 drill holes, an oxide resource was completed in late 2017. A NI 43-101 compliant PEA (preliminary economic assessment) for an open pit heap leach solvent extraction and electrowinning ("SX-EW") mine was completed in April 2018. In 2018 a further 8,600 metres in 93 holes was completed to upgrade the oxide resources, provide samples for ongoing metallurgical test work, geotechnical and hydrological studies and condemnation drilling for the heap leach pad site, waste dump and plant site. An updated NI 43-101 compliant resource was completed in early May 2019.

However, Phoenix has increased the claim area from 818 acres at the time of its acquisition to 5,717 acres, mainly to the northwest and west, and in so doing has increased the potential for additional oxide and sulphide copper resources, as well as the potential for stand-alone gold and silver resources, along a strike length of approximately 2,500 metres towards the other brownfield mines of the Horseshoe, White Knob and Blue Bird Mines now within the property boundary. In particular, a new discovery at Red Star, 330 metres north west of the Empire Mine proposed open pit, has revealed 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.

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.

More details on the Company, its assets and its objectives can be found on PXC's website at www.phoenixcopperlimited.com.

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 Copper Limited 
      -----------------------------------------  ------------------------------------ 
 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: VGG7060R1139 
      -----------------------------------------  ------------------------------------ 
 b)    Nature of the transaction:                 Purchase of shares 
      -----------------------------------------  ------------------------------------ 
 c)    Price(s) and volume(s):                      Price(s)      Volume(s) 
                                                     10.7 pence    100,000 
                                                                  ---------- 
      -----------------------------------------  ------------------------------------ 
 d)    Aggregated information:                    Single transaction as in 
        Aggregated volume:                         4 c) above Price(s)      Volume(s) 
        Price:                                      10.7 pence    100,000 
      -----------------------------------------  ------------------------------------ 
 e)    Date of the transaction:                   10 January 2020 
      -----------------------------------------  ------------------------------------ 
 f)    Place of the transaction:                  AIM 
      -----------------------------------------  ------------------------------------ 
 

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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