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An announcement from Phoenix Copper ( (GB:PXC) ) is now available.
Phoenix Copper Limited has signed a Letter of Intent with a US-based investor for a proposed $75 million placement of corporate copper bonds, which will be used to fund the construction of the Empire open-pit mine and commence an underground drilling program. This strategic move is expected to enhance Phoenix’s operational capabilities and strengthen its market position, although the completion of the bond placement is contingent upon further due diligence and legal documentation.
More about Phoenix Copper
Phoenix Copper Limited is an emerging producer and exploration company specializing in base and precious metals, focusing on copper, gold, and silver extraction from an open-pit mining operation in the United States. The company’s flagship asset is the Empire Mine in Idaho, which has a rich history of producing high-grade copper, gold, silver, zinc, and tungsten. Phoenix has expanded its Empire Open-Pit resource significantly since 2017 and holds additional interests in other mines and exploration projects in the region.
Average Trading Volume: 963,698
Technical Sentiment Signal: Sell
Current Market Cap: £7.24M
For detailed information about PXC stock, go to TipRanks’ Stock Analysis page.