Phoenix Copper Ltd - base and precious metals explorer in US state of Idaho - Extends "short-term" USD2.0 million loan facility by a further three months. In March, Phoenix had signed the unsecured three-month loan facility carrying a fixed 4% coupon with High Wycombe, Buckinghamshire-based investment adviser RiverFort Global Opportunities PLC. At the time, it said the facility will strengthen operational working capital before the 2023 exploration season.
The company retains the option to extend the facility beyond the extended initial term until March 23, 2024, on the same terms as previously announced.
Current stock price: 25.95 pence, up 3.8% on Friday morning
12-month change: down 35%
By Sophie Rose, Alliance News reporter
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Phoenix Copper. (PXC)