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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