REG - Phoenix Copper Ltd - Result of AGM and Directorate Change

Phoenix CopperAnnouncement

29/05/2024 14:15

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RNS Number : 3171Q  Phoenix Copper Limited  29 May 2024

Phoenix Copper Limited / Ticker: PXC / Sector: Mining

29 May 2024

Phoenix Copper Limited

('Phoenix' or the 'Company')

 

Result of Annual General Meeting and Directorate Change

 

Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF and PXCLY (ADRs)), the AIM-quoted
USA-focused base and precious metals company, is pleased to announce that all
of the resolutions put to shareholders at the Annual General Meeting ("AGM")
held today were duly passed.

 

 No.  Ordinary Resolutions                                                            For         Against    Votes Withheld
 1    To receive and adopt the Company's annual accounts for the financial year       30,263,660  3,479,479  -
      ended 31 December 2023, together with the report of the directors of the
      Company and the auditors' report on those accounts.
 2    To reappoint Crowe U.K. LLP as the Company's auditors.                          33,743,139  -          -
 3    To authorise the directors of the Company to determine the auditors'            33,742,539  600        -
      remuneration.
 4    To re-elect Marcus Edwards-Jones, who is retiring in accordance with Article    33,742,539  -          600
      12 of the Company's Articles of Association and who, being eligible, offers
      himself for re-election.
 5    To re-elect Richard Wilkins, who is retiring in accordance with Article 12 of   33,742,539  -          600
      the Company's Articles of Association and who, being eligible, offers himself
      for re-election.
 6    To authorise the directors of the Company to allot and issue shares in the      33,742,353  786        -
      capital of the Company.
 Special Resolution
 7    To dis-apply the statutory pre-emption rights in respect of the allotment and   33,700,739  41,800     600
      issue of shares pursuant to the authority referred to in Resolution 6 above.

 

Directorate Change

 

At the conclusion of the AGM, Andre Cohen, independent Non-Executive Director
of the Company, retired from the Board and has now stepped down as a Director
of the Company.  The Board thanks him for his contribution to date and is
pleased that Andre Cohen will remain with the Company as a member of the
Advisory Board. The Company will seek to appoint an additional independent
Non-Executive Director in due course.

 

For further information please visit  https://phoenixcopperlimited.com
(https://phoenixcopperlimited.com/) .

Contacts

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

 WH Ireland (Joint Broker)                            Harry Ansell / Katy Mitchell                       Tel: +44 20 7220 1666
 Panmure Gordon (UK) Limited (Joint Broker)           Mark Murphy / Will Goode / Joseph Tan              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
the estimation of mineral reserves.  The Proven and Probable reserves at
Empire are 10.1 million tonnes containing 109,487,970 lbs of copper, 104,000
ounces of gold, and 4,654,400 ounces of silver, equating to 66,467 copper
equivalent tonnes.

 

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 (34.13 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 the New York 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)

 

 

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