Phoenix Global Mining Ltd Director/PDMR Shareholding (9175W)
06 August 2018 - 6:37PM
UK Regulatory
TIDMPGM
RNS Number : 9175W
Phoenix Global Mining Ltd
06 August 2018
Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining
6 August 2018
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Director/PDMR Shareholding
Phoenix Global Mining Ltd (LSE AIM: PGM), the AIM quoted, North
American-focused base and precious metals exploration and
development company, has been informed that Andre Cohen, a
Non-Executive Director of the Company, and his wife, Kay Cohen,
together sold 500,000 Shares of the Company from their share
accounts at 3.1p, and bought 500,000 Shares of the Company via
their Individual Savings Accounts ("ISAs") at 3.105p, to effect a
transfer into their ISAs.
Andre and Kay Cohen's beneficial ownership over shares in the
Company has not changed as a result of this transaction.
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.
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: Andre and Kay Cohen
----------------------------------------- --------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
a) Position/status: Andre Cohen: Non-Executive
Director
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 Global Mining
Ltd
----------------------------------------- --------------------------------------
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: VGG7060R1055
----------------------------------------- --------------------------------------
b) Nature of the transaction: Transfer of shares from
share accounts into ISA
accounts
----------------------------------------- --------------------------------------
c) Price(s) and volume(s): Andre Cohen: Price(s) Volume(s)
Sold at Sold 300,000
3.1 pence Bought
and bought 300,000
at 3.105
pence
-------------
Kay Cohen: Price(s) Volume(s)
Sold at Sold 200,000
3.1 pence Bought
and bought 200,000
at 3.105
pence
-------------
----------------------------------------- --------------------------------------
d) Aggregated information: Price(s) Volume(s)
Aggregated volume: Sold at Sold 500,000
Price: 3.1 pence Bought 500,000
and bought
at 3.105
pence
----------------------------------------- --------------------------------------
e) Date of the transaction: 2 August 2018
----------------------------------------- --------------------------------------
f) Place of the transaction: AIM
----------------------------------------- --------------------------------------
**ENDS**
For further information please visit www.pgmining.com or
contact:
Phoenix Global Mining Dennis Thomas / Richard Wilkins Tel: +44 7827
Ltd 290 849 (Dennis)
/
+44 7590 216
657 (Richard)
SP Angel Lindsay Mair / Caroline Rowe Tel: +44 20
(Nominated Adviser 3470 0470
and Joint Broker
----------------------------------- ------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20
(Joint Broker) 3463 5000
----------------------------------- ------------------
Notes
Phoenix Global Mining Ltd (AIM: PGM) 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
and gold in Canada.
Having established an initial copper oxide JORC and NI 43-101
resource of 19.4 mt grading 0.47% copper ('Cu') for 90,547 t
contained Cu, plus zinc, gold and silver, Phoenix has defined a
two-phase development strategy. Phase One is focused on commencing
low cost, open pit production from the current oxide resource,
targeting 8,000t copper cathode per annum. Stage Two will look to
extend the life of mine by targeting the deeper (below c.120m),
higher grade copper sulphides, where intercepts of up to 11.4% Cu
have been recovered. Preliminary Economic Analysis work on the
priority open pit oxide resource is already underway. It is
estimated that only 5% of the potential ore system has been
explored to date and accordingly there is significant opportunity
to increase the resource through phased exploration; the current
resource relates to the oxide resource only, which remains open
along strike and does not include the deeper, higher grade
sulphides.
The Company also holds two prospective cobalt properties in
Idaho, US, which are located north of the Empire Mine. These are
situated close to the town of Cobalt and are close to projects
being advanced by Canadian junior miners, including eCobalt
Solutions and First Cobalt. Exploration will continue during 2018
to identify drilling targets.
The Company has also acquired an exclusive option to explore and
develop the Gordon Lake Project, in the Northwest Territories,
Canada, a high-grade shear hosted gold project comprising of 17
known mineralised zones of which only four have been tested with 59
diamond drill holes. The Company will proceed to examine the
optimal way forward to develop the project as a low-cost
underground gold producer.
With a management team that has successfully constructed,
commissioned and operated mines and low risk, mining-friendly
jurisdictions with excellent infrastructure, Phoenix is looking to
fulfil its ambitions to become a mid-tier base and precious metals
producing company, offering exposure to three high value and high
demand metals with compelling demand/supply fundamentals.
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
DSHGIGDISXGBGIL
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