REG - Phoenix Copper Ltd - Block Listing Six Monthly Return

Phoenix CopperAnnouncement

08/04/2024 12:30

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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/
(https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fphoenixcopperlimited.com%2F&data=05%7C02%7Cpaul.degruchy%40phoenixcopper.com%7Cd3c94638cd2a404fd97908dc4457be72%7C0ab43313efbd470e8b202b53ae10513d%7C0%7C0%7C638460390942473879%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=zDJLf9dFwaNJhQmfkjPJtPnIxiqtCJb%2F1IuX1s1r7kQ%3D&reserved=0)

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