Phoenix Global Mining Ltd Director Dealing (5876V)
November 06 2017 - 2:00AM
UK Regulatory
TIDMPGM
RNS Number : 5876V
Phoenix Global Mining Ltd
06 November 2017
Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining
6 November 2017
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Director Dealing
Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted, US-focused
copper exploration and development company, has today been informed
that Andre Cohen, a Non-Executive Director of the Company, and his
wife, Kay Cohen, have each purchased 100,000 shares of nil par
value in the Company ("Shares") on 3 November 2017 at a price of
4.3 pence per share.
Following completion of the share purchase, Andre Cohen and his
wife hold 1,356,669 Shares representing 0.59 per cent. of the
issued share capital and total voting rights of the Company.
748,334 Shares are held in Andre Cohen's own name and 608,335
Shares are held in the name of his wife.
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.
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: Andre Cohen and
Kay Cohen (wife
of Andre Cohen)
--- --------------------------------- ----------------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------------------
a) Position/status: Non-Executive
Director
--- --------------------------------- ----------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ---------------------------------------------------------------------------
a) Name: Phoenix Global
Mining Ltd
--- --------------------------------- ----------------------------------------
b) LEI: 2138006UWPZAB1A75680
--- --------------------------------- ----------------------------------------
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 Shares of nil
instrument, type of instrument: par value each
Identification code:
ISIN: VGG7060R1055
--- --------------------------------- ----------------------------------------
b) Nature of the transaction: Purchase of shares
--- --------------------------------- ----------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
----------- ----------
4.3 pence 200,000
----------- ----------
--- --------------------------------- ----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ---------- ----------
4.3
pence 200,000
--- --------------------------------- ----------------------------------------
e) Date of the transaction: 3 November 2017
--- --------------------------------- ----------------------------------------
f) Place of the transaction: AIM
--- --------------------------------- ----------------------------------------
**ENDS**
For further information please visit www.pgmining.com or
contact:
Phoenix Global Dennis Thomas & Richard c/o St Brides
Mining Ltd Wilkins Partners
+44 20 7236
1177
--------------------- -------------------------------- --------------
SP Angel Lindsay Mair / Caroline Tel: +44 20
(Nominated Advisor) Rowe 3470 0470
--------------------- -------------------------------- --------------
Brandon Hill Jonathan Evans / Oliver Tel: +44 20
Capital (Broker) Stansfield/ Alex Walker/Robert 3463 5000
Beenstock
--------------------- -------------------------------- --------------
St Brides Partners Charlotte Page / Susie Tel: +44 20
(Financial PR) Geliher 7236 1177
--------------------- -------------------------------- --------------
Notes
Phoenix Global Mining Ltd (AIM: PGM) is a US-focused, base metal
explorer and developer, which is fast-tracking the
historically-producing Empire Mine in Idaho, USA back into
production.
Having established an initial copper oxide JORC resource of
12.8mt grading 0.53% copper ('Cu') for 68,200t contained Cu from
historical drill holes, Phoenix has defined a two-phase development
strategy. Phase One is focused on commencing low cost, open pit
production from the current oxide resource, targeting 7,000t copper
cathode per annum by 2020 via an SX-EW plant. Stage Two will look
to extend the life of mine by targeting the deeper (below c.120m),
higher grade copper sulphides, where intercepts of up to 11.4% Cu
have been recovered. Preliminary Feasibility Study work on the
priority open pit oxide resource is already underway.
It is estimated that only 5% of the potential ore system has
been explored to date and accordingly there is significant
opportunity to increase the resource through phased exploration;
the current resource relates to the oxide resource only, which
remains open along strike and does not include the deeper, higher
grade sulphides. Furthermore, the Mine has an exploration target of
between 3.4 to 6.7 million tonnes (derived from historic data),
grading 0.34% to 0.50% Cu for 11,560 to 33,500 tonnes of additional
contained copper and there is potential to extract additional
metals, including gold, silver, zinc and tungsten.
The Company also holds two highly prospective cobber-cobalt
properties in Idaho, US, which are located north of the Empire
Mine. These are situated close to the town of Cobalt and are
proximal to projects being advanced by Canadian junior miners,
including eCobalt Solutions and US Cobalt. Early stage exploration
is currently underway and drilling is targeted to commence in
2018.
With a management team that has successfully constructed,
commissioned and operated mines and a low risk, mining-friendly
jurisdiction with excellent infrastructure, Phoenix is looking to
fulfil its ambitions to become a mid-tier base metal producing
company, offering exposure to two high demand technology metals
with compelling demand/supply fundamentals.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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