REG - Phoenix Copper Ltd - Director Dealing, Exercise of Warrants and TVR

Phoenix CopperAnnouncement

31/05/2022 07:00

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RNS Number : 2951N  Phoenix Copper Limited  31 May 2022

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

31 May 2022

Phoenix Copper Limited

('Phoenix' or the 'Company')

Director Dealing, Exercise of Warrants and Total Voting Rights

Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted USA focused
base and precious metals emerging producer and exploration company,  has been
informed that Marcus Edwards-Jones, Executive Chairman of the Company, has
exercised warrants representing a total of 134,231 ordinary shares of no par
value each ("Ordinary Shares") in the Company for total consideration of
£43,604.35.  53,095 of the warrants were exercised at 21 pence each, and
81,136 warrants were exercised at 40 pence each.

Following completion of the warrant exercise, Marcus Edwards-Jones is the
beneficial holder of 1,220,882 shares in the Company which represents 1.00 per
cent. of the issued share capital and total voting rights of the Company.

No Director of Phoenix now has any warrants in the Company outstanding.

The Company has issued the 134,231 Ordinary Shares from its block listing
authority of 6 October 2020 and following the issue, the Company has the
ability to issue a further 7,882,611 Ordinary Shares under its existing block
listing facility.

Total Voting Rights

Following this warrant exercise and in accordance with the Financial Conduct
Authority's Disclosure and Transparency Rules, the Company has 122,110,989
ordinary shares of no par value each in issue, none of which are held in
treasury. Therefore, the total number of voting rights in the Company
is 122,110,989 ordinary shares.

The above figure may be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change in the interest in, the share capital of
the Company.

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                    Tel: +44 20 3470 0470
 Tavira Securities Limited (Joint Broker)             Jonathan Evans / Oliver Stansfield               Tel: +44 20 7100 5100

 WH Ireland (Joint Broker)                            Harry Ansell / Adam Pollock / 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 a USA focused, base and precious metals emerging
producer and exploration company, initially targeting copper and zinc
production from an open pit mine.

Phoenix's primary operations are focused near Mackay, Idaho in the Alder
Creek mining district, at the 80% owned Empire Mine property, which
historically produced copper at grades of up to 8%, as well as gold, silver,
zinc and tungsten, from an underground mine.

Since 2017, Phoenix has carried our extensive drill programmes which have
defined a NI 43-101 compliant PEA (preliminary economic assessment) for an
open pit heap leach solvent extraction and electrowinning ("SX-EW") mine,
which was updated in October 2020. The contained metal in all NI 43-101
compliant categories of resources, Measured, Indicated and Inferred, stand at
129,641 tonnes of copper, 355,523 ounces of gold, 10,133,772 ounces of silver
and 58,440 tonnes of zinc. Phoenix updated its economic model in February
2021 to include the processing of all contained metals through a two phased
approach.

In addition to Empire, the district includes the historic Horseshoe, White
Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead
and tungsten from underground mines. A new discovery at Red Star, 330 metres
northwest of the Empire Mine proposed open pit, has revealed high grade
silver / lead sulphide ore, and from three shallow exploration drill holes a
maiden resource of 103,000 tonnes containing 173.4 g/tonne silver, 0.85
g/tonne gold and 3.85% lead (1.6 million ounces silver equivalent) was
reported in an NI 43-101 technical report published in May 2019.
Additionally, the district includes Navarre Creek, a volcanic hosted
precious metals target in a 14.48 sq km area. The Company's total land package
at Empire comprises 8,034 acres (32.51 sq kms).

At Empire, it is estimated that less than 1% of the potential ore system has
been explored to date and, accordingly, there is significant opportunity to
increase the resource through phased exploration. The stated aim of the
Company is to fund this phased exploration through free cashflow generated by
its initial mine. A Plan of Operations in respect of the initial open pit mine
was filed with the relevant regulatory authorities in June 2021.

Phoenix also has two wholly owned cobalt properties on the Idaho Cobalt Belt
to the north of Empire. An Earn-In Agreement has been signed with Electra
Battery Materials (formerly First Cobalt Corporation), Toronto, in respect
of one of those 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://phoenixcopperlimited.com/)

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

         Details of the person discharging managerial responsibilities/person closely
         associated
 a)      Name:                                                         Marcus Edwards-Jones

 2.      Reason for the notification
 a)      Position/status:                                              Executive Chairman
 b)      Initial notification/Amendment:                               Initial notification
 3.      Details of the issuer, emission allowance market participant, auction
         platform, auctioneer or auction monitor
 a)      Name:                                                         Phoenix Copper Limited
 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, type of instrument:  Shares of nil par value each

         Identification code:                                           ISIN: VGG7060R1139

 b)      Nature of the transaction:                                    Exercise of Warrants
 c)      Price(s) and volume(s):                                         Price(s)            Volume(s)
                                                                       1.     21 pence       53,095

                                                                                             81,136

                                                                       2.     40 pence
 d)      Aggregated information:                                       Single transactions stated above.

         Aggregated volume:

         Price:
 e)      Date of the transaction:                                      30 May 2022
 f)      Place of the transaction:                                     Outside a trading venue

d)

Aggregated information:

Aggregated volume:

Price:

Single transactions stated above.

 

e)

Date of the transaction:

30 May 2022

f)

Place of the transaction:

Outside a trading venue

 

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