Phoenix Global Mining Limited (DI) (PGM)

Sector:

Mining

Index:

FTSE AIM All-Share

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 16.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 41.00p
  • 52 Week Low: 13.50p
  • Currency: UK Pounds
  • Shares Issued: 38.67m
  • Volume: 48,807
  • Market Cap: £6.19m

Phoenix Global Mining ups land position at Empire mine

By Iain Gilbert

Date: Tuesday 10 Apr 2018

LONDON (ShareCast) - (ShareCast News) - AIM-quoted exploration and development company Phoenix Global Mining has expanded its land position at the Empire Mine in Idaho through the addition of 21 unpatented mining claims along the borders of its Horseshoe block.
As a result of the acquisition, Phoenix's land position increased by 397 acres to the east and west, resulting in a total land package of 1,774 contiguous acres centred on the previously producing Empire and Horseshoe mines.

The Horseshoe block had recorded copper, lead, zinc, silver and gold production with grades of 3.8% copper and 12% zinc during its initial run back in 1979. A preliminary economic assessment on the Empire mine's oxide resource was expected to kick off imminently ahead of an accelerated development plan and the commencement of its bankable feasibility study.

Dennis Thomas, Phoenix's chief executive, said, "The extension of the Horseshoe claim block by 397 acres is a most timely increase in our land position prior to the imminent completion of our Empire mine oxide preliminary economic assessment It ensures that, as we now move into bankable feasibility study 'mode', we will have a footprint large enough for future operational expansion, particularly to the east of our existing Horseshoe claim block."

"Following the 33% expansion of the Empire oxide resource in November 2017 and understanding the likelihood of additional resource expansion following the upcoming 2018 resource drilling programme, the company believes it is vital to control adequate footprint for any and all operational expansions," he added.

As of 0900 BST, shares had gained 1.33% to 30.40p.

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PGM Market Data

Currency UK Pounds
Share Price 16.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 41.00p
52 Week Low 13.50p
Volume 48,807
Shares Issued 38.67m
Market Cap £6.19m

PGM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
22.02% above the market average22.02% above the market average22.02% above the market average22.02% above the market average22.02% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Price Trend
66.88% below the market average66.88% below the market average66.88% below the market average66.88% below the market average66.88% below the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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PGM Dividends

No dividends found

Trades for 25-Apr-2019

Time Volume / Share Price
16:31 25,000 @ 15.25p
16:27 7,500 @ 16.44p
16:27 4,000 @ 16.23p
14:48 12,307 @ 16.25p

PGM Key Personnel

CEO Dennis Leslie Thomas
CFO Richard Wilkins

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