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

Phoenix CopperAnnouncement

10/05/2022 07:00

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RNS Number : 8590K  Phoenix Copper Limited  10 May 2022

#Phoenix Copper Limited / Ticker: PXC / Sector: Mining

10 May 2022

Phoenix Copper Limited

('Phoenix' or the 'Company')

Director Dealing, Exercise of Warrants and Issue of Equity

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 Kay Cohen, wife of Andre Cohen, a Non-Executive Director of the
Company, has exercised warrants representing a total of 25,000 ordinary shares
of no par value each ("Ordinary Shares") in the Company for total
consideration of £4,000.  The warrants were exercised at 16 pence each.

Following completion of the warrant exercise, Andre Cohen is the beneficial
holder of 592,452 shares in the Company which represents 0.49 per cent. of the
issued share capital and total voting rights of the Company.

The Company has issued the 25,000 Ordinary Shares from its block listing
authority of 6 October 2020 and following the issue, the Company has the
ability to issue a further 8,091,574 Ordinary Shares under its existing block
listing facility.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company 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
Regulatory Information Service, this inside information is now considered to
be in the public domain.

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 Ltd (Joint Broker)                Jonathan Evans / Oliver Stansfield            Tel: +44 20 7100 5100

 WH Ireland (Joint Broker)                           Harry Ansell / Adam Pollock / Katy Mitchell   Tel: +44 207 2201666
 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.

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:                                                         Kay Cohen (wife of Andre Cohen)

 2.        Reason for the notification
 a)        Position/status:                                              Wife of Andre Cohen, Non-Executive Director
 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)
                                                                         16 pence    25,000

 d)        Aggregated information:                                       Single transaction stated above.

Price(s)  Volume(s)
           Aggregated volume:                                            16 pence  25,000

           Price:

 
 e)        Date of the transaction:                                      9 May 2022
 f)        Place of the transaction:                                     Outside a trading venue

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction stated above.

 Price(s)  Volume(s)
 16 pence  25,000

 

e)

Date of the transaction:

9 May 2022

f)

Place of the transaction:

Outside a trading venue

 

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