Phoenix Copper (GB:PXC) has released an update.
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Phoenix Copper Limited has announced a net loss of $1.10 million and increased investment in the Empire Mine amid significant milestones in its development, including the publication of a Pre-Feasibility Study indicating an 8-year life with robust returns. The company has also upgraded the mine’s mineral resources to reserves and successfully issued a $80 million floating rate corporate copper bond, with an initial $5 million drawn. These developments are key to the company’s strategic plan to commence production and unlock the value of the high-grade underground deposit.
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