27 March 2024
Phoenix Copper
Limited
("Phoenix" or the "Company")
Extension of
Warrants
Phoenix Copper Limited (AIM:
PXC; OTCQX ADR: PXCLY), the AIM quoted USA-focused base and
precious metals emerging producer and exploration company,
announces that it has extended the expiry date on a class of
warrants that were granted to advisers and brokers in conjunction
with the Company's fundraise which was announced on 5 March
2021.
The expiry date on 3,347,813
warrants, with an exercise price of 38.5 pence per share (the
"Warrants"), has been extended from 31 March 2024 to 30 June 2024.
The exercise price of the Warrants will remain
unchanged.
For further information, please
visit https://phoenixcopperlimited.com
Contacts
|
Phoenix Copper Limited
|
Ryan McDermott
Brittany Lock
Richard Wilkins
|
Tel: +1
208 954 7039
Tel: +1
208 794 8033
Tel: +44
7590 216 657
|
|
SP Angel Corporate Finance
LLP (Nominated Adviser)
|
David Hignell / Caroline
Rowe / Kasia Brzozowska
|
Tel: +44
20 3470 0470
|
|
Tavira Financial Limited (Joint
Broker)
|
Jonathan Evans / Oliver
Stansfield
|
Tel: +44
20 7100 5100
|
|
WH Ireland (Joint Broker and Joint
Bookrunner)
|
Harry Ansell / Katy
Mitchell
|
Tel: +44
20 7220 1666
|
|
Panmure Gordon (UK)
Limited (Joint Broker and Joint Bookrunner)
|
Mark Murphy / Will
Goode / Joseph Tan
|
Tel: +44
20 7886 2500
|
|
EAS Advisors (US Corporate
Adviser)
|
Matt Bonner / Rogier de la
Rambelje
|
Tel: +1
(646) 495-2225
|
|
BlytheRay
(Financial PR)
|
Tim Blythe / Megan
Ray
|
Tel: +44
20 7138 3204
|
Notes
Phoenix Copper Limited is an
emerging producer and exploration company specializing in base and
precious metals, with an initial focus on copper, gold, and silver
extraction from an open-pit mining operation within the United
States.
Located in the historic Alder Creek
mining district near Mackay, Idaho, Phoenix's flagship asset is the
Empire Mine, in which the Company holds an 80% ownership stake. The
historic Empire underground mine, located beneath the surface of
the Company's proposed open pit, boasts a rich history of producing
high-grade copper, gold, silver, zinc, and tungsten.
Since 2017, Phoenix has executed
extensive drilling initiatives, resulting in an expansion of the
Empire Open-Pit resource by over 200%. The measured and indicated
resource currently stands at 22,909,059 tonnes, with an average
grade of 0.38% copper, 0.324 grams per tonne ("g/t") gold, 10.3 g/t
silver, and 0.19% zinc. This resource represents 87,543 tonnes of
copper, 238,406 ounces of gold, and 7,595,198 ounces of
silver.
In addition to the Empire Mine,
Phoenix's holdings in the district also encompass the Horseshoe,
White Knob, and Blue Bird Mines, all of which have been producers
of copper, gold, silver, zinc, lead, and tungsten from underground
operations, a new high-grade silver and lead orebody at Red Star,
and the Navarre Creek gold exploration project, which was first
drilled in 2023. The Company's land package at Empire spans 8,434
acres (34.13 sq km).
Phoenix also owns two cobalt
properties situated along the Idaho Cobalt Belt to the north of
Empire. An Earn-In Agreement has been established with Electra
Battery Materials, Toronto, concerning one of these
properties.
Phoenix is listed
on London's AIM (PXC), and trades on New
York's OTCQX Market (PXCLF and PXCLY (ADRs)). More details on
the Company, its assets and its objectives can be found on PXC's
website at https://phoenixcopperlimited.com/