3rd Jul 2026 18:19
Phoenix Copper Ltd - US-focused base and precious metals producer and explorer - Proposes a placing and subscription to raise gross proceeds of approximately GBP2.3 million, and net proceeds of approximately GBP2.0 million, through the issue of around 460.0 million new shares at the issue price of 0.5 pence per share. The placing is intended to raise approximately GBP1.7 million, and the subscription approximately GBP600,000. Also intends to raise about GBP500,000 through a retail offer, and to issue warrants to all participants in the placing, subscription and retail offer. Says the issue price represents a discount of approximately 54.5% to the closing mid-market price of 1.1p per share on Thursday. Expects to complete all three on or around July 27, subject to the relevant resolutions being passed at the annual general meeting.
Current stock price: 1.20 pence
12-month change: down 74%
By Emma Curzon, Alliance News reporter
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Phoenix Copper Limited