Phoenix Global Mining Limited (PGM.L) Announced that it has updated its corporate presentation. A copy of the Company's updated corporate presentation can be found on its website at
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 underground mine, the...
Phoenix Global Mining* (PGM LN) 16.5p, Mkt Cap £7.1m – 2018 Annual Report • Phoenix Global Mining has posted its 2018 Annual Report to the company’s website (www.pgmining.com/corporate-documents) • As previously announced, the company made a loss for calendar year 2018 of $1.65m or 5.82cents/share (2017 loss $1.36m or 8.16cents/share) as it works towards the re-opening of the historic Empire mine in Idaho. • Executive Chairman, Marcus Edwards-Jones highlights the success of the 2018 drilling programme at the Empire site, comprising 93 holes totalling 8,604m, which has resulted in a 46% increase in the measured and indicated oxide mineral resources to 15.2mt at an average grade of 0.47% copper, 0.15% zinc, 11.8g/t silver and 0.29g/t gold, • The resource upgrade underpins the current work towards “the Bankable Feasibility Study (“BFS”) scheduled for completion in mid 2020” and Mr. Edwards-Jones describes the 2018 drilling campaign as “a major breakthrough for our company, in that the updated resource shows that the planned Empire open-pit mine, combined with the lower-cost SX-EW processing plant, is now economic at current metal prices and will generate early cashflow to enable us to explore the higher-grade sulphide deposits underneath the open pit mine”. • The company has previously reported that work by an independent environmental engineering firm “conducting plant and wildlife, hydrology, and surface impact studies at the Empire Mine for two years now as an integral part of the Plan of Operations development. No fatal environmental flaws have been identified” • As well as the expansion and upgrading of the oxide mineral resource, initial drilling of surface sulphide mineralisation at the Red Star prospect “located 330 metres north-northwest of the Empire oxide pit” yielded a small maiden "Inferred" sulphide resource of 103,500 tonnes, containing 577,000 ounces of silver, 3,988 tonnes of lead, 957 tonnes of zinc, 338 tonnes of copper, and 2,800 ounces of gold”. • As previously announced, the company also expanded its landholdings adjacent to the Empire mine site to 1837 acres (approximately 740 hectares) “through the acquisition of an additional 54 claims containing the northern extension of the Empire Mine skarn orebody through to the old Horseshoe lead/zinc/copper mine, and a further four claims in the Granite block to the south of the Empire open pit.” • Additional land holdings totalling a further 2,717 acres (2314 hectares) was acquired in February 2019 including “more than 30 historical prospects, shafts and adits north of the Horseshoe block into the Windy Devil area, resulting in an overall length of identified contiguous skarn mineralisation of some 5.38 kilometres”. The latest land acquisitions also include the Navarre Creek area some four miles west of the Empire Mine, “a 2,420-acre zone geologically similar to the Carlin Trend gold belt in Nevada”. • Mr. Edwards-Jones also drew the attention of shareholders to the report of the company’s consulting geologist, Nigel Maund, (available on the company’s website at www.pgmining.com/research) , which “concludes that we currently understand less than 2% of the ore system” along the 5km known strike length of mineralisation and which “states that we are sitting on a major, district-style opportunity”. • As it focuses on the rejuvenation of the Empire mine, the company has decided to allow its option over the Gordon Lake gold project in Canada’s Northwest Territories to lapse. Conclusion: The increased measured and indicated oxide mineral resources at the former Empire mine has laid the foundations for the current bankable feasibility work scheduled for completion in mid 2020. The initial, inferred, resource estimate of sulphide mineralisation at the Red Star prospect hints at the potential underlying the oxide mineralisation while additional land holdings have expanded the company’s tenure over a 5km long mineralised belt which is believed to be to be significantly underexplored. *SP Angel acts as Nomad and broker to Phoenix Global Mining
RNS Number: 0490 B Phoenix Global Mining Ltd 04 June 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) 17p, Mkt Cap £7.3m – 2018 results • Phoenix Global Mining has announced a loss for calendar year 2018 of $1.65m or 5.82cents/share (2017 loss $1.36m or 8.16cents/share) as it works towards the re-opening of the historic Empire mine in Idaho. • Following share issues totalling $4.7m during the year, the company’s cash position at the end of December amounted to $0.1m, however the announcement last week of the raising of a further £700,000 provides, in our view, additional funding as the company progresses with feasibility study work at Empire. • The 2018 drilling programme at the Empire site, comprising 93 holes totalling 8,604m, has resulted in a 46% increase in the measured and indicated oxide mineral resources to 15.2mt at an average grade of 0.47% copper, 0.15% zinc, 11.8g/t silver and 0.29g/t gold, • The resource upgrade underpins the current work towards “the Bankable Feasibility Study (“BFS”) scheduled for completion in mid 2020”. • Work by an independent environmental engineering firm “conducting plant and wildlife, hydrology, and surface impact studies at the Empire Mine for two years now as an integral part of the Plan of Operations development. No fatal environmental flaws have been identified” • As well as the expansion and upgrading of the oxide mineral resource, initial drilling of surface sulphide mineralisation at the Red Star prospect “located 330 metres north-northwest of the Empire oxide pit” yielded “a small maiden "Inferred" sulphide resource of 103,500 tonnes, containing 577,000 ounces of silver, 3,988 tonnes of lead, 957 tonnes of zinc, 338 tonnes of copper, and 2,800 ounces of gold”. • The company also expanded its landholdings adjacent to the Empire mine site to 1837 acres (approximately 740 hectares) “through the acquisition of an additional 54 claims containing the northern extension of the Empire Mine skarn orebody through to the old Horseshoe lead/zinc/copper mine, and a further four claims in the Granite block to the south of the Empire open pit.” • Additional land holdings totalling a further 2,717 acres (2314 hectares) was acquired in February 2019 including “more than 30 historical prospects, shafts and adits north of the Horseshoe block into the Windy Devil area, resulting in an overall length of identified contiguous skarn mineralisation of some 5.38 kilometres”. The latest land acquisitions also include the Navarre Creek area some four miles west of the Empire Mine, “a 2,420-acre zone geologically similar to the Carlin Trend gold belt in Nevada”. • Hailing the “2018 drilling campaign … … a major breakthrough for our company” Executive Chairman, Marcus Edwards-Jones said that “The Empire project is already attracting interest from mining finance and trading houses, and we hope to be able to fund capital expenditure predominantly with debt and other forms of project and metal offtake finance, involving minimal issues of ordinary shares.” • He also drew the attention of shareholders to the report of the company’s consulting geologist, Nigel Maund, (available on the company’s website at www.pgmining.com/research) , which “concludes that we currently understand less than 2% of the ore system” along the 5km known strike length of mineralisation and which “states that we are sitting on a major, district-style opportunity”. Conclusion: Work at the former Empire mine during 2018 resulted in increased measured and indicated oxide mineral resources and has laid the foundations for the current bankable feasibility work scheduled for completion in mid 2020. An initial, inferred, resource estimate of sulphide mineralisation hints at the potential underlying the oxide mineralisation while additional land holdings have expanded the company’s tenure over a 5km long mineralised belt which is estimated to be significantly underexplored. *SP Angel acts as Nomad and broker to Phoenix Global Mining
RNS Number: 7270 A Phoenix Global Mining Ltd 31 May 2019. Final audited results for the year ended 31 December 2018. Phoenix Global Mining Ltd, the North American focused base and precious metals exploration and development company, is pleased to announce its audited results for the year ended 31 December 2018..
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,...
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