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 ended 31 December 2023,
together with the report of the directors of the Company and the
auditors' report on those accounts.
|
30,263,660
|
3,479,479
|
-
|
|
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' remuneration.
|
33,742,539
|
600
|
-
|
|
4
|
To re-elect Marcus Edwards-Jones,
who is retiring in accordance with Article 12 of the Company's
Articles of Association and who, being eligible, offers himself for
re-election.
|
33,742,539
|
-
|
600
|
|
5
|
To re-elect Richard Wilkins, who is
retiring in accordance with Article 12 of the Company's Articles of
Association and who, being eligible, offers himself for
re-election.
|
33,742,539
|
-
|
600
|
|
6
|
To authorise the directors of the
Company to allot and issue shares in the capital of the
Company.
|
33,742,353
|
786
|
-
|
|
Special Resolution
|
|
7
|
To dis-apply the statutory
pre-emption rights in respect of the allotment and issue of shares
pursuant to the authority referred to in Resolution 6
above.
|
33,700,739
|
41,800
|
600
|
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.
Contacts
|
Phoenix Copper Limited
|
Ryan McDermott
Brittany Lock
Richard Wilkins
|
Tel: +1 208 954
7039
Tel: +1 208 794 8033
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
(Financial PR)
|
Tim Blythe / Megan
Ray
|
Tel: +44 20 7138 3204
|
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/