Phoenix Copper Ltd (PXC): First stage in potent...

Hardman & Co Research
Hardman & Co Research: Phoenix Copper Ltd (PXC): First stage in potential world-class copper mine

22-Aug-2019 / 07:15 GMT/BST


Hardman & Co Research: First stage in potential world-class copper mine

Phoenix Copper Ltd (PXC) achieved a further milestone in its strategy for a staged development of the potentially world-class Empire copper mine in mining-friendly Idaho, US. The new economic model for an open pit "starter mine" is key to the Feasibility Study due by 2Q'20. Capital and cash operating costs have been cut by 25% and 7%, respectively, with minimal production impact. This mine will provide cashflow to explore far more extensive mineralisation in the deeper sulphide ore body and adjacent land package. While we evaluate PXC's upside in more detail, our estimated DCF valuation for the first mine is 32p/share, and 49p/share using the company's base-case assumptions.

Please click on the following link for the full report:

https://www.hardmanandco.com/research/corporate-research/first-stage-in-potential-world-class-copper-mine/

If you are interested in meeting the company, you can register your interest by clicking on the above link

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Paul Mylchreest

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pm@hardmanandco.com

 

 

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About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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End of Announcement - EQS News Service

861257  22-Aug-2019 

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