Phoenix Copper Limited
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- Phoenix Copper Limited (AIM: PXC; OTCQX: PXCLF) is a British Virgin Islands-based emerging producer and exploration company focused on base and precious metals, primarily copper, gold, silver, and cobalt in Idaho, USA. Founded in 2013 and headquartered in Road Town, the company operates through its 80% interest in Konnex Resources, targeting low-cost open-pit and underground mining in the Alder Creek mining district near Mackay in Custer and Lemhi Counties. Its flagship Empire Copper Reserve project, in the detailed engineering design phase, features proven and probable mineral reserves of 10.1 million tonnes grading 0.49% copper, 0.32 g/t gold, and 14.34 g/t silver, equivalent to 66,467 tonnes of copper equivalent metal; processing will employ flotation and agitated tank leach technologies without cyanide to recover copper cathode, gold, and silver doré. Additional assets include the high-grade Empire Copper Sulphide Vein System (up to 8.38% copper), historical mines such as Horseshoe, White Knob, and Blue Bird (producers of copper, gold, silver, zinc, lead, and tungsten), the Red Star high-grade silver-lead orebody, the Navarre Creek gold exploration project (drilled in 2023), and two cobalt properties in the Idaho Cobalt Belt under an earn-in agreement. Phoenix Copper's land package spans 8,434 acres (34 sq km) at Empire, with operations emphasizing environmental stewardship, community engagement, and ESG practices that earned 'A' ratings in 2022 and 2023. The company targets essential metals for clean energy and infrastructure, serving global markets through planned production of over 8,000 tonnes of copper equivalent annually over an eight-year mine life at Empire Open-Pit. It maintains a 14-person team led by CEO Ryan McDermott and supports its advancement with pre-owned milling equipment, an analytical laboratory, and tailings dewatering systems to reduce capital costs. Recent developments include a June 2025 letter of intent for a US$75 million secured copper bond placement with a US investor, structured in three tranches starting at US$30 million with 8.5% minimum yield and maturities from 2029-2033, plus convertible preference shares potentially yielding a 10.5% equity stake and a board seat; this funding aims to complete Empire construction, initiate production, and start underground drilling on the sulphide vein system. In August 2025, the company restructured its short-term loan facility with a US$640,000 drawdown, extension to June 2026, and partial conversion of US$676,800 into 16.9 million new ordinary shares, leaving an outstanding balance of US$2.005 million while pursuing the bond placement. Earlier milestones encompass a May 2024 mineral reserve statement, over 200% resource growth since 2017 via 485 drill holes, a pre-feasibility study, and metallurgical optimization for multi-metal recovery.
Phoenix Copper shares drop on discount equity raise
Phoenix Copper shares drop on discount equity raise
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Phoenix Copper shares drop after suspension of chairman and finance chief
Phoenix Copper makes initial drawdown for Empire construction
Phoenix Copper raises US$80m in bond finance as 'stars align'
Phoenix Copper in right place as metals prices climb, says broker
Phoenix Copper publishes first reserve estimate for Empire open pit
Phoenix Copper finalises purchase of pre-owned ball mills for Empire mine
Phoenix Copper agrees refinancing terms with Riverfort
Phoenix Copper orders new mine equipment, refinances
Phoenix Copper ups size of fund raise after investor demand
Phoenix Copper raising funds as Empire mine work ramps up
Phoenix Copper says its now in final stages of PFS for Empire open pit
Phoenix Copper says bond discussion remain at an advanced stage
Phoenix Copper extends loan facility on investor talks
Phoenix Copper receives initial batch of assays from Navarre Creek drilling