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RNS Number : 7041J Phoenix Copper Limited 08 April 2024
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
8 April 2024
Phoenix Copper Limited
('Phoenix' or the 'Company')
Block Listing Six Monthly Return
Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY) the AIM quoted USA focused
base and precious metals emerging producer and exploration company, announces
the following block listing six monthly return:
Name of applicant: Phoenix Copper Limited
Name of scheme: Warrants
Period of return: From: 07/10/2023 To 06/04/2024
Balance of unallotted securities under scheme (s) from previous return: 9,221,457
Plus: The amount by which the block scheme(s) has been increased since the 1,602,827 at 11.5p expiring 31/1/27
date of the last return (if any increase has been applied for):
3,300,874 at 20p expiring 1/3/27
-
Less: Number of securities issued/allotted under scheme(s) during period none
(see LR3.5.7G):
Equals: Balance under scheme(s) not yet issued/ allotted at end of period: 14,125,158
Name of contact: Richard Wilkins, CFO
Telephone number of contact: +44 (0) 7590 216 657
Application to trading on AIM
Application has been made to the London Stock Exchange for a block admission
of up to 4,903,701 ordinary shares of no par value in the Company to be
admitted to trading on AIM ("Admission"). Admission is expected to become
effective at 8.00 a.m. on or around 15 April 2024. As and when, or if, the
warrants are exercised, the shares will be issued fully paid and will rank
pari passu in all respects with the existing issued ordinary shares of the
Company.
These shares will be block listed pursuant to the Company's existing
application which was filed to enable holders of the Company's warrants to
continue to voluntarily exercise them without the need for the issue of a
separate RNS and admissions filing each time this occurs.
Total Voting Rights
The total number of ordinary shares of no par value in the Company as at the
date of this announcement is 149,069,995. For the purposes of the Disclosure
Guidance and Transparency Rules, shareholders may use this figure as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
issued share capital of the Company. No ordinary shares are held in treasury.
Contacts
For further information please visit https://phoenixcopperlimited.com
(https://phoenixcopperlimited.com/) , or contact:
Phoenix Copper Limited Ryan McDermott Tel: +1 208 954 7039
Brittany Lock Tel: +1 208 794 8033
Richard Wilkins 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) Harry Ansell / Katy Mitchell Tel: +44 20 7220 1666
Panmure Gordon (UK) Limited (Joint Broker) John Prior / Hugh Rich / Ailsa Macmaster Tel: +44 20 7886 2500
EAS Advisors (US Corporate Adviser) Matt Bonner / Rogier de la Rambelje Tel: +1 (646) 495-2225
BlytheRay Tim Blythe / Megan Ray Tel: +44 20 7138 3204
(Financial PR)
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/
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