Mining Phoenix covered

by | Aug 17, 2017

Share this article

Phoenix Global Mining


AIM miner Phoenix Global Mining, which listed in June, is now being researched by house broker Brandon Hill Capital.

The start of coverage comes as Phoenix focusses on bringing the previously producing Empire Copper Mine in Idaho, US, back into production.

In its first report, Brandon Hill has valued the copper heap leach operation, based on the existing ore resource which gives a ten year mine life NPV 8% of US$36.3m unfinanced, with an IRR of 29% on a 100% of project basis. This valuation represents a Phoenix Global Mining share price of 12p based on the miner’s 80% ownership of the copper SX/EW project, which compares favourably to the current 3.5p share price.

It added that crucially, with strengthening copper prices and significant opportunity to increase the mine’s current resource and improve recoveries, additional upside undoubtedly remains.

With a current price of 3.50p (at the time of writing), Phoenix has a market cap of £8m.

Share this article

Related articles

GBI 35 | Opportunity Knocks in 2023 | December 2022

GBI 35 | Opportunity Knocks in 2023 | December 2022

Season’s Greetings to all our Readers and Clients. While some business sectors start to wind things down for the year, we are busier than ever planning for the Spring and the tax year end. So, with this in mind we bring you our usual mix of news and opportunities that...

Trending articles