Phoenix Copper Limited / Ticker: PXC / Sector: Mining
7 October 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:
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| Name of applicant: | Phoenix Copper Limited | |||
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| Name of scheme: | Warrants | |||
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| Period of return: | From: | 07/04/2024 | To | 06/10/2024 |
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| 14,125,158 | |||
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| Plus: The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for): | 1,550,905 warrants at 20p expiring 15/5/27
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| Less: Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G): | 423,913 warrants exercised at 11.5p 2,932,641 warrants lapsed at 38.5p
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| Equals: Balance under scheme(s) not yet issued/ allotted at end of period: | 12,319,509 | |||
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| 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 1,550,905 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 11 October 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 188,040,104. 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, or contact:
| Phoenix Copper Limited | Ryan McDermott Brittany Lock Paul de Gruchy Richard Wilkins | Tel: +1 208 954 7039 Tel: +1 208 794 8033 Tel: +44 7484 203720 Tel: +44 7590 216 657 |
| SP Angel Corporate Finance LLP (Nominated Adviser) | David Hignell / Caroline Rowe / 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 Limited (Joint Broker) | Mark Murphy / Kieron Hodgson | 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 |
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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