Phoenix Announces Placing and Subscription to Raise £700,000 Event Phoenix Global Mining (“Phoenix”) has announced a placing at a price of 17p with a 1 for 4 warrant at 28p. Through a placing and subscription of 4,111,647 new ordinary shares, Phoenix has raise £700,000 before expenses. Highlights The key points relating to this raise are: • The Placing has been achieved at a premium of 13.3% to market, (to closing mid-price as at 22 May 2019) with a 1 for 4 warrant at 28p • The placing is to accelerate the Bankable Feasibility Study on an open pit heap leach SX-EW operation to produce copper and zinc. Comment In today’s market it is an achievement to raise money at a premium to market, let alone 13.3%. The fund raising was supported by new and existing shareholders who see value in the project beyond the recent share price. The proceeds will be used to further advance the Company's flagship asset, the Empire Mine in Idaho, United States of America. The proceeds will be applied to accelerate the Bankable Feasibility Study (“BFS”) on an open pit heap leach solvent extraction electrowinning (“SX-EW”) project, to produce copper and zinc, following the recently published updated NI 43-101 compliant resource (announcement dated 7 May 2019) which confirmed sufficient Measured and Indicated resources on which a BFS can be based. The Company expects the BFS to be completed in mid-2020, and production to commence in 2021.
Phoenix Global Mining* (PGM LN) 16.5p, Mkt Cap £6.4m – Raising £700,000 to advance Empire mine SXEW Bankable Feasibility Study • Phoenix Global Mining has announced that it has raised £700,000 though the issue of a further 4.1m shares at a price of 17p/share. The new shares are priced at a 13.3% premium to the closing mid-price on 22nd May and, we estimate, represent approximately 9.6% of the enlarged capital of the company. • The new shares carry a warrant, valid until 31st January 2022, entitling the holder to subscribe for a further share priced at 28p per share for every four of the shares currently being issued. • The additional funds are to used to “accelerate the Bankable Feasibility Study (“BFS”) on an open pit heap leach solvent extraction electrowinning (“SX-EW”) project, to produce copper and zinc” from the recently upgraded oxide mineral resource at the historic Empire mine in Custer County, Idaho. • Phoenix Global Mining “expects the BFS to be completed in mid-2020, and production to commence in 2021.” Important items to be addressed by the BFS include, “detailed mine planning and scheduling, additional metallurgical test-work, heap leach pads, ponds and process plant design, infrastructure design, environmental impact statement and project economic analysis.” • Commenting on the project in the light of the recent mineral resource upgrade and the financing, Chief Executive, Dennis Thomas, explained that “Given the advanced status of the project, our focus will now turn to project finance. We will seek to finance the project with a mix of debt and other instruments including offtake finance and we are progressing a number of these discussion in tandem with the BFS studies.” • Mr. Thomas went on to explain that “we are ultimately looking to minimise the issue of equity which has been required to develop the project to this stage. Management are significant shareholders in the Company and we hope to keep further equity dilution to a minimum.” In order to achieve this the company is examining “a mix of debt and other instruments including offtake finance” to finance project development. Conclusion: Raising additional funds to expedite the BFS for the Empire mine oxide project at a premium to the recent market price should help the company to deliver the BFS by mid-2020 as Phoenix Global Mining works towards initial production in 2021. *SP Angel acts as Nomad and broker to Phoenix Global Mining
Placing and Subscription to raise £700,000. Phoenix Global Mining Ltd, the North American-focused base and precious metals exploration and development company, is pleased to announce that it has raised £700,000 by way of a placing and subscription of 4,117,647 new ordinary shares of nil par value each at a price of 17 pence. The proceeds will be used to...
·UK: +44 2070 844 345. Phoenix Global Mining Ltd 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 flagship project is a brownfield, past producing, copper, gold, silver, zinc and tungsten...
·UK: +44 2070 844 345. Phoenix Global Mining Ltd 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 flagship project is a brownfield, past producing, copper, gold, silver, zinc and tungsten...
RNS Number: 1154 Y Phoenix Global Mining Ltd 07 May 2019 Phoenix Global Mining Ltd/ Ticker: AIM: PGM/ Sector: Mining. Substantial increase in copper, zinc, gold and silver resource. Phoenix Global Mining Ltd, the AIM quoted, North American- focused base and precious metals exploration and development company, is pleased to announce an updated Resource for its Empire...
RNS Number: 8629 W Phoenix Global Mining Ltd 23 April 2019 TR-1: S tandard form for notification of major holdings. 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.
Phoenix Global Mining* (PGM LN) 15.5p, Mkt Cap £6.0m – Consultant geologist highlights the potential of the Empire mine • Phoenix Global Mining has released details of a report by its Consultant Economic Geologist, Nigel Maund, which highlights the mineral potential of its licences in and around the site of the historic Empire mine in Custer County, Idaho. • Mr. Maund, who has previously advised Phoenix Global Mining on the Empire mine geology, visited the property in March 2019 in order to review the results of the drilling conducted during 2017 and 2018 has confirmed that “the Empire Mine comprises a world class polymetallic ore system containing tungsten and molybdenum as well as copper, gold, silver and zinc.” • He also highlights the geological setting of the mineralisation “on a major north south structure with some 5 km of geologic strike” and points out that this “compares with 1 km referred to in the PEA (Preliminary Economic Assessment) on the heap leach SX-EW copper project published by the Company in 2018” as well as pointing to geological similarities between the mineralisation at the Empire mine site and that at the world’s largest porphyry endoskarn deposit at Antamina in Peru.. • The company’s work at Empire has concentrated on developing the near-term cash generating potential of the near-surface oxide mineralisation, however, setting this in a broader context, Mr. Maund’s report expresses a view that “perhaps only 1% to 2% of the ore system has been tested to date Exploration has so far ignored the potential much larger copper/precious metal and base metal sulphide beneath and along strike from the open pit. The potential of this sulphide ore system is of the order of tens of millions of tonnes, and it is almost certainly amenable to underground trackless bulk mining techniques.” • Phoenix Global Mining’s Chief Executive, Dennis Thomas, confirmed that the company is “preparing an updated measured, indicated and inferred NI 43-101 compliant resource, incorporating all previous drilling results as well as those from the 29,228 feet (8,909 metres) 2018 drilling campaign, the results of which we intend to announce by the end of April." • Mr Thomas also commented that the consultant’s report endorses “our expansion of the property to the north by staking additional claims over the past 18 months. This has given us a fivefold increase in the strike length of the mineralised zones and the property now covers 8.9 square miles.” Conclusion: During the recent drilling and field exploration work, there have been hints of a wider mineralised footprint as the exploration extended from the original core area around the old Empire mine into the Red Star, Horseshoe and the recently acquired Windy Devil and Navarre Creek claim blocks, however, the new report, which is available on the company’s website at www.pgmining.com/research provides a more structured and in depth analysis of the emerging potential of the area. The conclusion that perhaps only 1-2% of the overall mineralised system has been tested and that there are possible similarities with Antamina should be of particular interest as the exploration proceeds. We look forward to the updated mineral resource estimate later this month. *SP Angel acts as Nomad and broker to Phoenix Global Mining
Phoenix Global Mining Event Phoenix Global Mining (“Phoenix”) has announced the conclusions of a report by Nigel Maund, Consultant Economic Geologist to Phoenix. Background This is the second visit by Nigel Maund to the Phoenix’s Empire Mine Property, the first being in 2015. He visited the site in March 2019 to analyse the property in more detail, including a review of the drill core from the Company’s 2018 drilling programme, and earlier drilling programmes. Highlights The key findings of the report are: • It confirms the Empire Mine comprises a world class polymetallic ore system containing tungsten and molybdenum as well as copper, gold, silver and zinc. • The mine is sited on a major north south structure with some 5km of geologic strike. This compares with 1km referred to in the PEA published by the Company in 2018 based on its November 2017 resource. • Exploration has to date focused on the near surface oxides in the proposed open pit as they represent potential near-term revenue. Mr Maund is of the opinion that perhaps only 1% to 2% of the ore system has been tested to date. • Exploration has so far ignored the potential much larger copper / precious metal and base metal sulphide beneath and along strike from the open pit. The potential of this sulphide ore system is of the order of tens of millions of tonnes, and it is almost certainly amenable to underground trackless bulk mining techniques. • In Mr Maund’s view, the Empire system bears some geological similarities to the World Class 1st category Antamina Mine in Peru, which is the largest porphyry/endoskarn polymetallic deposit in the world. Comment This report confirms both the views of BHC and the Phoenix management that the Empire Mine has tremendous potential. Apart from the proposed near surface open pit, predominantly for copper and gold, there is excellent potential for a major sulphide system beneath it. Phoenix are also very encouraged that Mr Maund endorses their strategy to expand the territory to the north of the original open pit and are encouraged by the reference to a fivefold increase in strike length.
Phoenix Global Mining Limited (PGM.L) Announced the publication of a report by Nigel Maund, Consultant Economic Geologist to Phoenix. Mr Maund is familiar with the Company's Empire Mine property, having previously reported on it in 2015. Exploration has so far ignored the potential much larger copper/precious metal and base metal sulphide beneath and along strike from the open pit. The potential of this sulphide ore system is of the order of tens of millions of tonnes, and it is almost certainly amenable to underground trackless bulk mining techniques.
RNS Number: 8252 V Phoenix Global Mining Ltd 11 April 2019. Ticker LSE AIM: PGM, OTCQX: PGMLF/ Sector: Mining. Phoenix Global Mining Ltd, the North American-focused base and precious metals exploration and development company, is pleased to announce the publication of a report by Nigel Maund, Consultant Economic Geologist to Phoenix..
Phoenix Global Mining Ltd, the AIM quoted North American-focused base and precious metals exploration and development company, has today been informed that Marcus Edwards-Jones, Executive Chairman of the Company, sold 140,000 shares of the Company from his share account at 14 pence per share, and bought 140,000 shares in the Company at 14.025 pence per share...
Phoenix Global Mining Ltd, the AIM quoted North American-focused base and precious metals exploration and development company, has been informed that Andre Cohen, a Non-Executive Director of the Company, purchased 20,000 shares in the Company on 3 April 2019 at a price of 14.7 pence per share.. Phoenix's flagship project is a brownfield, past producing, copper,...
Phoenix Global Mining Ltd, the AIM quoted North American-focused base and precious metals exploration and development company, has been informed that Andre Cohen, a Non-Executive Director of the Company, purchased 20,000 shares in the Company on 13 March 2019 at a price of 16.4 pence per share.. Phoenix's flagship project is a brownfield, past producing, copper,...
RNS Number: 9111 S Phoenix Global Mining Ltd 14 March 2019 Phoenix Global Mining Ltd/ Ticker: AIM: PGM/ Sector: Mining. Phoenix's flagship project is a brownfield, past producing, copper, gold, silver, zinc and tungsten underground mine, the Empire Mine near Mackay in Idaho. Phoenix acquired an 80% interest in the property in 2015.
�UK: +44 2070 844 345. Phoenix's flagship project is a brownfield, past producing, copper, gold, silver, zinc and tungsten underground mine, the Empire Mine near Mackay in Idaho. Phoenix acquired an 80% interest in the property in 2015.
Phoenix Global Mining* (PGM LN) 19p, Mkt Cap �7.3m – Increasing its land position at Empire Phoenix Global Mining has announced a substantial increase in its land position surrounding the historic Empire mine in Idaho. The staking of a total of 194 new mining claims to the north and west of the company’s Horseshoe claim block has increased the overall holding by 3,880 acres (approximately 1,570 hectares or over 200%) to 5,717 acres (2,314 hectares). The new claim areas, known as the Windy Devil and Navarre Creek claim blocks cover “extensions to known mineralisation”. The Windy Devil block which is “contiguous with the Horseshoe Block, covers the identifiable extensions of the Horseshoe Block mineral trends and includes more than 30 historical prospects, shafts, and adits”. Sampling results during the 2018 exploration programme at the Horseshoe Claim area “reported grades as high as 9.19% copper, 580 g/t silver, 2.02 g/t gold, and 20% lead in surface rock chips” and the company has apparently identified extensions of this mineralisation into the Windy Devil area. The “larger Navarre Creek Block to the west was also recognised during the 2018 field season as a highly prospective target area based on the classic hot springs style alteration evident on the surface”. Navarra Creek is identified as “an area of secondary alteration thought to be epithermal in nature and includes over 2.5-kilometres of highly brecciated … altered volcanic rocks … similar to the mineralised rocks in northern Nevada such as those found in the Carlin Trend”. Commenting on the acquisition of the additional land CEO, Dennis Thomas said that “This new claim block contains more than 30 unnamed prospects, including multiple previously mined shafts and adits”. Mr. Thomas emphasised, however, “The Company’s first priority remains the Empire copper deposit. Now that we control the Horseshoe, Windy Devil, and Navarre Blocks, we are confident that our future operational footprint and areas of expansion are secure.” A revised mineral resources estimate for the Empire project, incorporating the results of the 8,604m of drilling completed in 2018, is expected during Q1 2019 as part of the continuing bankable feasibility study work to develop the near-surface oxide mineralisation. When the revised estimate is available we expect the additional drilling and the earlier expansion of the company’s land position into the Horseshoe Block to result in an expansion of the current inferred resource of approximately 11.5mt classed as measured and indicated at an average grade of 0.52% copper, 0.14% zinc, 10g/t silver and 0.2g/t gold plus an additional 9.9mt classed as inferred at an average grade of 0.41% copper, 0.13% zinc, 9g/t silver and 0.3g/t gold. A Preliminary Economic Assessment, completed in April 2018, envisaged heap leaching and solvent extraction to produce around 8,000tpa of copper cathode from the oxide resources. The 2018 exploration work also intersected deeper sulphide mineralisation similar to that extracted during the historical mining in the area. As the company’s focus intensifies on the Empire mine area and on the cobalt projects, also located in Idaho, Phoenix Global Mining has allowed its option to acquire an 80% interest in the Gordon Lake gold property in Canada to lapse. The option required the expenditure of a “further $250,000in February. Given the potential of the Empire Mine and particularly in view of the Company’s increased acreage, the Company decided to allow the option to lapse. The Company’s 2018 accounts are expected to include a write-off of the option, which has a carried value of $155,000”. Conclusion: The three-fold increase in Phoenix Global Mining’s land holding around the old Empire mine and its decision to allow the Gordon Lake option to lapse emphasises the importance management attaches to the Empire mine project. We look forward to the revised mineral resource estimate for the project later in the quarter. *SP Angel acts as Nomad and broker to Phoenix Global Mining
Phoenix Global Mining Phoenix Increases Empire Mine Land Position by 3,880 Acres Event Phoenix Global Mining (“Phoenix”) has announced a threefold increase in its Empire Mine land holding, to the north and west of the Horseshoe Claim Block at Windy Devil and at Navarre Creek. 194 new claims have been staked covering extensions to known mineralisation. Highlights This highlights of the land acquisitions are: • The Company has increased its Empire Mine land position by 3,880 acres, and now has a total land package of 5,717 acres (from 7.43 to 23.14 square kilometres) by staking and filing 194 new unpatented claims in two blocks. • The Windy Devil claim block, contiguous with the Horseshoe Block, covers the identifiable extensions of the Horseshoe Block mineral trends and includes more than 30 historical prospects, shafts, and adits. The 2018 Horseshoe sampling results reported grades as high as 9.19% copper, 580 g/t silver, 2.02 g/t gold, and 20% lead in surface rock chips. • The Navarre Creek Block covers an area of secondary alteration thought to be epithermal in nature and includes over 2.5-km of highly brecciated, west-trending jasperoid intersecting of argillically and silicically altered Eocene Challis volcanics. The altered volcanic rocks are similar to the mineralised rocks in northern Nevada such as those found in the Carlin Trend. Comment Phoenix has increased its land package around the Empire Mine by approximately 6 square miles. The Windy Devil claim is directly to the north of the Horseshoe Block and the Empire, Horseshoe and Windy Devil claims form one contiguous package. Surface sampling on the Horseshoe block during the summer of 2018 was very encouraging with high grade rock chip samples and the extension of the orebody is seen to extend into the Windy Devil claim block, where there are more than 30 historical shafts, adits and prospects to be investigated and sampled. There are also a number of folds, both known and inferred that extend from the Horseshoe Claim onto the Windy Devil claim, and with the old Horseshoe Mine and White Knob Mine both located towards the north-west of the Horseshoe Claims, it makes perfect sense to ensure that any potential mining activities in these areas are unconstrained by accessibility. The Navarre Creek Block to the west was also recognised during the 2018 field season as a highly prospective target area based on the classic hot springs style alteration evident on the surface. The presence of a 2.5- kilometre long, highly brecciated jasperoid occurrence within the claim block suggests favourable structural geology for gold mineralisation similar to the Carlin Trend in Nevada.
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Phoenix Global Mining is a metal explorer and developer focused on advancing the Empire Mine in Idaho into open pit copper oxide production, with additional upside available from potential underground development.

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