REG - Phoenix Copper Ltd - £500,000 Placing

Phoenix CopperAnnouncement

13/06/2025 07:00

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RNS Number : 6552M  Phoenix Copper Limited  13 June 2025

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

13 June 2025

Phoenix Copper Limited

("Phoenix" or the "Company")

£500,000 Placing

Phoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY), the AIM quoted, USA
focused base and precious metals emerging producer and exploration company, is
pleased to confirm that in response to investor led demand, the Company has
raised  £500,000 (before expenses) through the issue of 12,500,000 new
ordinary shares of no par value (the "Placing Shares") at a price of 4 pence
per Placing Share (the "Placing").

The net proceeds of the Placing will provide the Company with additional
working capital while it finalises the proposed $75 million placement of
corporate copper bonds, as announced on 12 June 2025.

Admission of the Placing Shares

Application has been made for the Placing Shares, which rank pari passu with
the existing ordinary shares of no par value ("Ordinary Shares") in issue, to
be admitted to trading on AIM ("Admission"). It is expected that Admission
will become effective and dealings will occur at 8:00am UK time on or around
18 June 2025.

Total Voting Rights

Following the Admission of the Placing Shares, the Company will have
224,537,300 Ordinary Shares outstanding. Shareholders may use this number as
the denominator for the calculation 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.

Market Abuse Regulation (MAR) Disclosure

The Company deems the information contained within this announcement to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014, which has been incorporated into UK law by the European
Union (Withdrawal) Act 2018. Upon the publication of this announcement via
the Regulatory Information Service, this inside information is now considered
to be in the public domain.

For further information please visit  https://phoenixcopperlimited.com
(https://phoenixcopperlimited.com/) .

 

Contacts

 Phoenix Copper Limited                               Ryan McDermott                                Tel: +1 208 9547039

                                                      Paul de Gruchy                                Tel: +44 7484 203 720

                                                      Richard Wilkins                               Tel: +44 7590 216 657
 SP Angel Corporate Finance LLP (Nominated Adviser)   David Hignell / Jen Clarke / Devik Mehta      Tel: +44 20 3470 0470
 Tavira Financial Limited (Joint Broker)              Jonathan Evans / Oliver Stansfield            Tel: +44 20 7100 5100
 Zeus Capital Limited (Joint Broker)                  Harry Ansell / Katy Mitchell                  Tel: +44 20 7220 1666
 Panmure Liberum (UK) Limited (Joint Broker)          Mark Murphy                                   Tel: +44 20 7886 2500
 BlytheRay                                            Tim Blythe / Megan Ray                        Tel: +44 20 7138 3204

 (Financial PR)

 

Notes

Phoenix Copper Limited is an emerging producer and exploration company
specialising 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%. In May
2024 the Company published its inaugural mineral reserve statement for
the Empire Open-Pit Mine. Proven and Probable mineral reserves are 10.1
million tonnes containing 109,487,970 lbs of copper, 104,000 oz of gold and
4,654,400 oz of silver. This reserve was estimated using assay data from 485
drill holes, extensive geological modelling, metallurgical recovery test work,
geotechnical evaluation, and mine design. The reserve represents a combined
66,467 tonnes of copper equivalent metal.

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 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 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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