REG - Phoenix Copper Ltd - Block Listing Six Monthly Return

Phoenix CopperAnnouncement

07/10/2024 15:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241007:nRSG2308Ha&default-theme=true

RNS Number : 2308H  Phoenix Copper Limited  07 October 2024

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:

 

             Name of applicant:                                                                Phoenix Copper Limited
             Name of scheme:                                                                   Warrants
             Period of return:                        From:                                    07/04/2024       To               06/10/2024
             Balance of unallotted securities under scheme (s) from previous return:           14,125,158
             Plus: The amount by which the block scheme(s) has been increased since the        1,550,905 warrants at 20p expiring 15/5/27
             date of the last return (if any increase has been applied for):

             Less: Number of securities issued/allotted under scheme(s) during period          423,913 warrants exercised at 11.5p
             (see LR3.5.7G):

                                                                                               2,932,641 warrants lapsed at 38.5p

             Equals: Balance under scheme(s) not yet issued/ allotted at end of period:        12,319,509

  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
(https://phoenixcopperlimited.com/) , or contact:

 

 Phoenix Copper Limited                               Ryan McDermott                                 Tel: +1 208 954 7039

                                                      Brittany Lock                                  Tel: +1 208 794 8033

                                                      Paul de Gruchy                                 Tel: +44 7484 203720

                                                      Richard Wilkins                                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

(Financial PR)

 

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/
(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)

 

 

This information is provided by RNS, the news service of the 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BLRUBUSRSBURRAA