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Phoenix Copper Limited an LSE AIM listed North American focused, base and precious metal explorer and developer, with operations near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, which produced copper at head grades of 6-8% prior to ceasing production in the 1940s.

The focus of Phoenix is on bringing an open pit containing copper oxides at empire into production, and using the cashflow generated to progress exploration of the potentially significant copper sulphide deposit beneath.  Phoenix has published a reserves statement for the Empire open pit and has entered into a subscription agreement with NIU Invest, a European private equity business, whereby NIU will provide $80m of debt funding, sufficient to bring Empire into production.

It also continues to evaluate the poly metallic resource within the 39 square kilometre Empire claims block as well as cobalt and copper in two claims blocks north of Empire in Idaho, which are the subject of earn-in agreements.

Placing, subscription and retail offer

 On 6 July 2026, the Company announced that it had raised £2.4 million in aggregate through the placing of 364,196,369 Placing Shares and a subscription of 125,000,000 Subscription Shares at the Issue Price of 0.5 pence per Ordinary Share, then further announced the launch of a retail offer to raise an additional £0.5 million.

The Perivan shareholder communications team was delighted to work with SP Angel Corporate Finance who acted as Nominated Adviser on the production of the documentation which was successfully completed and posted to qualifying shareholders on 8 June 2026.

Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to corporate finance transactions.