Phoenix Copper extends $2m loan facility
Phoenix Copper Limited
7.75p
17:14 05/11/24
-6.06%
-0.50p
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.
FTSE AIM All-Share
736.29
16:50 05/11/24
n/a
n/a
Industrial Metals & Mining
6,334.35
16:59 05/11/24
0.38%
24.27
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.