Business
Interim Results
Phoenix Copper Limited reported a Group loss of $0.74 million for the six months ended June 30, 2025, compared to a loss of $1.10 million in 2024. The Group's net assets at period-end were $41.64 million, down from $48.55 million in 2024, which includes an increased investment in the Empire Mine in Idaho, USA, now at $44.34 million. The Company itself reported a profit of $0.55 million, a significant shift from a loss of $0.05 million in the previous year, with net assets at $50.68 million. The company issued 32,500,000 ordinary shares, raising $1.44 million, and post period-end, issued a further 11,779,932 shares, raising $0.47 million. A further $640,000 was drawn down from a restructured short-term loan facility, extending the maturity to June 30, 2026. Disclaimer*
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n\n30 September 2025\n \nPhoenix Copper Limited\n(\"Phoenix\", the \"Company\", or the \"Group\")\n \nInterim results\n \nPhoenix Copper Ltd (AIM: PXC; OTCQX ADR: PXCLY), the AIM-quoted, USA-focused base and precious metals emerging producer and exploration company, is pleased to announce its unaudited interim results for the six months ended 30 June 2025 (the \"Period\"). All references to $ are United States Dollars.\n \nPeriod-to-date Highlights\n \nCorporate & Financial\n \n- Group reports a loss of $0.74 million (2024: a loss of $1.10 million)\n- Period-end Group net assets of $41.64 million (2024: $48.55 million)\n- Company reports a profit of $0.55 million (2024: a loss of $0.05 million)\n- Period-end Company net assets of $50.68 million (2024: $55.16 million)\n- Investment in Empire Mine in Idaho, USA increased to $44.34 million (2024: $42.11 million)\n- Company loans to Idaho operating subsidiaries increased to $40.14 million (2024: $37.47 million)\n- Letter of Intent to subscribe for $75 million of corporate copper bonds signed during the Period \n- Short-term loan facility restructured post Period-end, with a further $640,000 drawn down and the maturity date extended to 30 June 2026\n- $1.91 million raised during the Period and post Period-end from subscriptions and conversion of borrowings\n \nOperational\n \n- Proven & Probable mineral reserves of 10.1 million tonnes containing 109,487,970 pounds (\"lbs\") of copper (49,677 tonnes), 104,000 ounces (\"oz\") of gold and 4,654,500 oz of silver (66,467 tonnes of copper equivalent metal)\n- Mineral reserves estimated using assay data from 485 drill holes, extensive geological modelling, metallurgical recovery test work, geotechnical evaluation, and mine design\n- Empire Mine open-pit Pre-Feasibility Study (\"PFS\") shows pre-tax cumulative net free cash flow of $153 million over 8 year mine lif...