Phoenix Copper (GB:PXC) has released an update.
Phoenix Copper Ltd has extended its earn-in agreement with Electra Battery Materials for the Redcastle cobalt property in Idaho, pushing its exploration expenditure commitments to 2026 and 2028, with a total investment of $3M required. This agreement allows Phoenix to focus on its main Empire Mine project while Electra advances exploration on the Redcastle property, potentially contributing to North America’s EV battery supply chain. Electra, with a market cap of around $25.6 million, has been drilling on the adjacent Iron Creek property since 2018, which shares a common border with Redcastle.
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