Business
Operational & Financing Update
Operational & Financing Update.
About this update from Phoenix Copper Ltd. (united Kingdom)
[{"type":"text","content":"\n \n \n Phoenix Copper Limited / Ticker: PXC / Sector: Mining\n \n \n 8 September 2022\n \n \n Phoenix Copper Limited\n \n \n (\"Phoenix\" or the \"Company\")\n \n \n \n \n \n Operational & Financing Update\n \n \n Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted USA focused base and precious metals emerging producer and exploration company, is pleased to provide an update on operations at its Idaho, USA projects, as well as the Company's corporate copper bond issue.\n \n \n Highlights:\n \n \n \n ·\n Drilling at the Empire open pit copper mine (\"Empire\") commenced in June 2022 to further the Company's understanding of metallurgical recovery using Ammonium Thiosulfate (\"ATS\") reagent;\n \n \n ·\n Trade-off, optimization, and engineering studies progressing on Empire;\n \n \n ·\n Exploratory drilling in the North Pit/Red Star area to commence on 15 September 2022;\n \n \n ·\n Navarre Creek drilling plan approved by US Forest Service (\"USFS\"); and\n \n \n · Corporate copper bond issue underway with an initial tranche expected to complete in the next few weeks.\n \n \n \n \n Ryan McDermott, CEO of Phoenix Copper Limited said\n : \"\n The work carried out this summer is moving the Company closer to its goal of bringing Empire into production in the most economical and environmentally sustainable way possible. We are making progress across all fronts, though are not immune to the same supply chain and contractor staffing challenges that companies throughout the industry are experiencing.\n \n \n \"Metal prices, as well as equipment and supply pricing, are fluctuating wildly as we pivot back toward pre-covid norms. While equipment and supply pricing stabilize, our staff are using this time to evaluate and test technologies that we hope will improve the project economics for Empire and reduce our environmental footprint, such as aerial tramming from the open pit to the processing facility versus classical truck haulage, and concurrent leaching of copper and precious metals using the environmentally friendly ATS reagent.\n \n \n \"There is currently a heavy focus on the domestic production of metals for green energy technologies like wind turbines, solar panels, and electric vehicles, particularly with the\n recent news\n that the California Air Resources Board has man...