Phoenix Copper Limited
PXCLY
Other OTC0.13
USD
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Phoenix Copper Limited
PXCLY
(Other OTC)
Recent
price
0.13
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ratio
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div
yld
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ROIC.AI
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- Business
- Phoenix Copper Limited (AIM: PXC; OTCQX: PXCLY) is a USA-focused base and precious metals exploration and development company primarily engaged in advancing polymetallic projects in Idaho; it holds proven and probable mineral reserves of 10.1 million tonnes at its flagship Empire Copper Reserve open-pit mine near Mackay, containing 49,677 tonnes of copper, 104,000 ounces of gold and 4,654,400 ounces of silver (66,467 tonnes copper equivalent), with an expected eight-year mine life producing over 8,000 metric tonnes of copper equivalent metal annually via crush-grind-flotation-tank leach processing to yield copper-gold-silver concentrate and cement copper streams; additional exploration assets include the high-grade Empire Copper Sulphide Vein System (historic grades up to 8% copper, recent intercepts of 8.38% copper), Red Star high-grade silver-lead vein (inferred resource of 103,500 tonnes grading 173.4 g/t silver), Navarre Creek gold project (2023 drilling identified anomalous low-grade gold), Horseshoe, White Knob and Windy Devil copper-gold-silver prospects, plus cobalt projects Redcastle (earn-in agreement renewed and extended mid-2024 with Electra Battery Materials) and Bighorn on the Idaho Cobalt Belt. Incorporated in 2013 and headquartered in Road Town, British Virgin Islands, the company operates through subsidiaries including 80%-owned Konnex Resources (Empire Mine), 100%-owned Borah Resources (Redcastle), Lost River Resources, and Salmon Canyon Resources (Bighorn), targeting clean energy metals demand with low-capex development on 8,434 acres at Empire and nearby districts in Custer and Lemhi Counties. Recent developments encompass publication of the Empire Pre-Feasibility Study in 2024 (pre-tax NPV7.5 of $87.86 million, 46.4% IRR, $153 million cumulative net cash flow at base prices, improved to over $230 million at spot with copper at $4.60/lb, gold $3,719/oz, silver $43.30/oz; total cash costs $2.44/lb CuEq), ongoing equipment delivery and detailed engineering for permitting and construction (capex $62.6 million), a signed letter of intent for $75 million corporate copper bonds (TISE: PHCOUSDN; $5 million placed 2024, $110 million authorized), $1.91 million raised via share subscriptions and borrowings conversions in H1 2025 (32.5 million shares at $0.044 average), post-period short-term loan restructuring to $2.005 million maturity June 2026 at 15% interest, and interim results to June 30, 2025 showing group net assets of $41.64 million with Empire investment at $44.34 million.
Phoenix Copper shares drop on discount equity raise