Phoenix Global Mining Ltd Director Dealing (7249G)
March 05 2018 - 9:30AM
UK Regulatory
TIDMPGM
RNS Number : 7249G
Phoenix Global Mining Ltd
05 March 2018
Phoenix Global Mining Ltd / Ticker: AIM:PGM / Sector: Mining
5 March 2018
Phoenix Global Mining Ltd ('Phoenix' or the 'Company')
Director Dealing
Phoenix Global Mining Ltd (AIM:PGM), the AIM quoted, North
American-focused base and precious metals exploration and
development company, has today been informed that Richard Wilkins,
Chief Financial Officer of the Company, purchased 42,814 shares of
nil par value in the Company ("Shares) on 5 March 2018 at a price
of 4.85 pence per share.
Following completion of the share purchase, Richard Wilkins
holds 6,074,963 Shares which will represent 2.64 per cent. of the
issued share capital and total voting rights of the Company.
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: Richard Wilkins
--- --------------------------------- ------------------------------------------
2. Reason for the notification
--- -----------------------------------------------------------------------------
a) Position/status: Chief Financial Officer
--- --------------------------------- ------------------------------------------
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 par
instrument, type of instrument: value each
Identification code:
ISIN: VGG7060R1055
--- --------------------------------- ------------------------------------------
b) Nature of the transaction: Purchase of shares
--- --------------------------------- ------------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
------------ ----------
4.85 pence 42,814
------------ ----------
--- --------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: ------------ ----------
4.85 pence 42,814
--- --------------------------------- ------------------------------------------
e) Date of the transaction: 5 March 2018
--- --------------------------------- ------------------------------------------
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 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
and gold in Canada.
Having established an initial copper oxide JORC and NI 43-101
resource of 19.4 mt grading 0.47% copper ('Cu') for 90,547 t
contained Cu, plus zinc, gold and silver, 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. 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 Economic Analysis 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.
The Company also holds two prospective cobalt properties in
Idaho, US, which are located north of the Empire Mine. These are
situated close to the town of Cobalt and are close to projects
being advanced by Canadian junior miners, including eCobalt
Solutions and US Cobalt. Exploration will continue during 2018 to
identify drilling targets.
The Company has also acquired an exclusive option to explore and
develop the Gordon Lake Project, in the Northwest Territories,
Canada, a high grade shear hosted gold project comprising of 17
known mineralised zones of which only four have been tested with 59
diamond drill holes. The Company will proceed to examine the
optimal way forward to develop the project as a low-cost
underground gold producer.
With a management team that has successfully constructed,
commissioned and operated mines and low risk, mining-friendly
jurisdictions with excellent infrastructure, Phoenix is looking to
fulfil its ambitions to become a mid-tier base and precious metal
producing company, offering exposure to three high value and high
demand 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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