Phoenix Copper Limited Director Dealing (4737Z)
10 Gennaio 2020 - 12:52PM
UK Regulatory
TIDMPXC
RNS Number : 4737Z
Phoenix Copper Limited
10 January 2020
Phoenix Copper Limited / Ticker: PXC / Sector: Mining
10 January 2020
Phoenix Copper Limited (the "Company" or "Phoenix")
Director Dealing
Phoenix Copper Limited (AIM: PXC; OTCQX: PGMLF), the AIM quoted
North American focused base and precious metals exploration and
development company, has been informed that Marcus Edwards-Jones,
Executive Chairman of the Company, purchased 100,000 shares in the
Company today at a price of 10.7 pence per share.
Following completion of the share purchase, Marcus Edwards-Jones
holds 689,407 shares in the Company which represents 1.54 per cent.
of the issued share capital and total voting rights of the
Company.
The Company also announces that Brandon Hill Capital has been
appointed as the Company's sole broker with immediate effect.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Contacts
For further information please visit
www.phoenixcopperlimited.com or contact:
Phoenix Copper Dennis Thomas / Richard Wilkins Tel: +44 7827
Limited 290 849 (Dennis)
/
+44 7590 216
657 (Richard)
SP Angel David Hignell / Caroline Rowe Tel: +44 20 3470
(Nominated Advisor) 0470
----------------------------------- ------------------
Brandon Hill Capital Jonathan Evans / Oliver Stansfield Tel: +44 20 3463
(Broker) 5000
----------------------------------- ------------------
Medea Natural Resources Leonidas Howden / Fred White Tel: +44 20 7770
Ltd (Financial 6926
Advisor)
----------------------------------- ------------------
Blytheweigh Megan Ray / Rachael Brooks Tel: +44 20 7138
(Financial PR) / Said Izagaren 3204
----------------------------------- ------------------
Notes
Phoenix Copper Limited is a North American focused, base and
precious metal explorer and developer, which is fast-tracking the
historically-producing Empire Mine in Idaho, USA, back into
production, and exploring for cobalt in Idaho.
Phoenix's primary operations are focused near Mackay, Idaho in
the Alder Creek mining district. This district includes the
historical Empire, Horseshoe, White Knob and Blue Bird Mines, past
producers of copper, gold, silver, zinc, lead and tungsten from
underground mines in the first half of the twentieth century.
Additionally, the district includes Navarre Creek a Carlin-trend
gold discovery which hosts a 6.1 km gold strike length within a 9.8
km(2) area.
Phoenix acquired an 80% interest in the historical Empire Mine
property in 2017 and, based on a total of 320 drill holes, an oxide
resource was completed in late 2017. A NI 43-101 compliant PEA
(preliminary economic assessment) for an open pit heap leach
solvent extraction and electrowinning ("SX-EW") mine was completed
in April 2018. In 2018 a further 8,600 metres in 93 holes was
completed to upgrade the oxide resources, provide samples for
ongoing metallurgical test work, geotechnical and hydrological
studies and condemnation drilling for the heap leach pad site,
waste dump and plant site. An updated NI 43-101 compliant resource
was completed in early May 2019.
However, Phoenix has increased the claim area from 818 acres at
the time of its acquisition to 5,717 acres, mainly to the northwest
and west, and in so doing has increased the potential for
additional oxide and sulphide copper resources, as well as the
potential for stand-alone gold and silver resources, along a strike
length of approximately 2,500 metres towards the other brownfield
mines of the Horseshoe, White Knob and Blue Bird Mines now within
the property boundary. In particular, a new discovery at Red Star,
330 metres north west of the Empire Mine proposed open pit, has
revealed sulphide ore and from three shallow exploration drill
holes a NI 43-101 compliant maiden resource of 1.6 million silver
equivalent ounces was reported.
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.
More details on the Company, its assets and its objectives can
be found on PXC's website at www.phoenixcopperlimited.com.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM:
1. 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
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b) Initial notification/Amendment: Initial notification
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3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name: Phoenix Copper Limited
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b) LEI: 2138006UWPZAB1A75680
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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, Shares of nil par value
type of instrument: each
Identification code: ISIN: VGG7060R1139
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b) Nature of the transaction: Purchase of shares
----------------------------------------- ------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
10.7 pence 100,000
----------
----------------------------------------- ------------------------------------
d) Aggregated information: Single transaction as in
Aggregated volume: 4 c) above Price(s) Volume(s)
Price: 10.7 pence 100,000
----------------------------------------- ------------------------------------
e) Date of the transaction: 10 January 2020
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f) Place of the transaction: AIM
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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