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An update from Phoenix Copper ( (GB:PXC) ) is now available.
Phoenix Copper Limited has announced the refinancing of its short-term loan facility by drawing down on a $2.1 million convertible loan note from Indigo Capital LP. This move allows the company to repay its existing short-term loan facility and provides flexibility for future conversions into shares. The refinancing is expected to impact Phoenix Copper’s financial stability positively and enhance its operational capabilities, potentially benefiting stakeholders by improving the company’s market positioning and resource management.
More about Phoenix Copper
Phoenix Copper Limited is an emerging producer and exploration company specializing in base and precious metals, with a primary focus on copper, gold, and silver extraction from open-pit mining operations in the United States. The company’s flagship asset is the Empire Mine located in the historic Alder Creek mining district near Mackay, Idaho, where it holds an 80% ownership stake. Phoenix Copper has expanded its Empire Open-Pit resource significantly since 2017 and published its first mineral reserve statement in May 2024. The company also has holdings in other mines in the district and owns cobalt properties in the Idaho Cobalt Belt.
Average Trading Volume: 1,547,812
Technical Sentiment Signal: Sell
Current Market Cap: £6.04M
Find detailed analytics on PXC stock on TipRanks’ Stock Analysis page.