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 To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Paul Mylchreest [phone]   [e-mail]     Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. 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. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies.  It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.   Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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861257  22-Aug-2019