Phoenix Copper extends $2m loan facility

United States-focussed base and precious metals explorer and producer Phoenix Copper updated the market on the short-term $2m loan facility on Friday, which was first announced on 24 March.

The AIM-traded company confirmed that the initial three-month term had been extended for a further three months, also at a fixed 4% coupon.

“The company retains the option to extend the loan facility beyond the extended initial term until 23 March 2024 on the same terms as previously announced,” the board said in its statement.

At 1508 BST, shares in Phoenix Copper were down 2.6% at 24.35p.

Reporting by Josh White for Sharecast.com.