TIDMPXC

RNS Number : 5180F

Phoenix Copper Limited

10 March 2020

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

10 March 2020

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

Director Dealings

Phoenix Copper Limited (AIM: PXC; OTCQX: PXCLF), the AIM quoted North American focused base and precious metals exploration and development company, has been informed of the following director dealings which took place yesterday at a price of 8 pence per share.

Ryan McDermott, Chief Executive Officer of the Company, purchased 50,000 shares in the Company. Following completion of the share purchase, Ryan McDermott holds 343,747 shares in the Company which represents 0.65 per cent. of the issued share capital and total voting rights of the Company.

Marcus Edwards-Jones, Executive Chairman of the Company, purchased 116,000 shares in the Company. Following completion of the share purchase, Marcus Edwards-Jones holds 872,073 shares in the Company which represents 1.66 per cent. of the issued share capital and total voting rights of the Company.

Andre Cohen, a Non-Executive Director of the Company, purchased 20,000 shares in the Company in his own name and 20,000 shares for his wife, Kay Cohen.

Following completion of the share purchase, Andre Cohen and his wife hold 332,809 shares in the Company which represents 0.63 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.

Contacts

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

 
 Phoenix Copper Limited   Ryan McDermott                            Tel: +1 208 954 
                           Dennis Thomas                              7039 Tel: +44 
                           Richard Wilkins                             7827 290 849 
                                                                      Tel: +44 7590 
                                                                            216 657 
 SP Angel                 David Hignell / Caroline Rowe            Tel: +44 20 3470 
  (Nominated 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 
                         -----------------------------------  --------------------- 
 Blytheweigh              Tim Blythe / Camilla Horsfall            Tel: +44 20 7138 
  (Financial PR)           / Megan Ray                                         3204 
                         -----------------------------------  --------------------- 
 

Notes

Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver and gold resources around three other past producing mines within the 23 km(2) Empire claims block as well as cobalt in two claims blocks north of Empire 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.

Since acquiring the Empire project, Phoenix has increased the claim area from 818 acres 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 5.4 km 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

 
 .    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                      Ryan McDermott 
     -----------------------------------------  ---------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position/status:                           CEO 
     -----------------------------------------  ---------------------------------- 
 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) 
                                                    8 pence     50,000 
                                                               ---------- 
     -----------------------------------------  ---------------------------------- 
 d)   Aggregated information:                    Single transaction as in 
       Aggregated volume:                         4 c) above Price(s)    Volume(s) 
       Price:                                      8 pence     50,000 
     -----------------------------------------  ---------------------------------- 
 e)   Date of the transaction:                   9 March 2020 
     -----------------------------------------  ---------------------------------- 
 f)   Place of the transaction:                  AIM 
     -----------------------------------------  ---------------------------------- 
 .    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) 
                                                    8 pence     116,000 
                                                               ---------- 
     -----------------------------------------  ---------------------------------- 
 d)   Aggregated information:                    Single transaction as in 
       Aggregated volume:                         4 c) above Price(s)    Volume(s) 
       Price:                                      8 pence     116,000 
     -----------------------------------------  ---------------------------------- 
 e)   Date of the transaction:                   9 March 2020 
     -----------------------------------------  ---------------------------------- 
 f)   Place of the transaction:                  AIM 
     -----------------------------------------  ---------------------------------- 
 
 
 .    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                                      Andre and Kay Cohen 
     -----------------------------------------  ---------------------------------- 
 2.   Reason for the notification 
     ----------------------------------------------------------------------------- 
 a)   Position/status:                           Andre Cohen: NED 
                                                  Kay Cohen: Wife of Andre 
                                                  Cohen 
     -----------------------------------------  ---------------------------------- 
 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) 
                                                    8 pence     40,000 
                                                               ---------- 
     -----------------------------------------  ---------------------------------- 
 d)   Aggregated information:                    Single transaction as in 
       Aggregated volume:                         4 c) above Price(s)    Volume(s) 
       Price:                                      8 pence     40,000 
     -----------------------------------------  ---------------------------------- 
 e)   Date of the transaction:                   9 March 2020 
     -----------------------------------------  ---------------------------------- 
 f)   Place of the transaction:                  AIM 
     -----------------------------------------  ---------------------------------- 
 

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END

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March 10, 2020 03:00 ET (07:00 GMT)

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