Berlin, 15 May 2024 – NIU Invest SE, a European investment company, announces the subscription of USD 80m in the 2023/33 Secured Corporate Copper Bond of Phoenix Copper Ltd, a London Stock Exchange-listed company (AIM: PXC, OTCQX ADR: PXCLY). Alongside the bond subscription, NIU Invest has also secured a 25% strategic stake in Phoenix Copper.

Phoenix Copper is an emerging producer and exploration company specializing in base and precious metals with an initial focus on copper, gold and silver extraction from an open-pit mining operation in its flagship asset “Empire Mine” located in Idaho, USA.

Furthermore, the company owns 2 cobalt properties in Lemhi County situated along the Idaho Cobalt Belt to the north of Empire Mine in addition to the Phoenix’s c.35 sq. km of patented/unpatented land package in Custer County featuring multiple advanced stage exploration projects including Navarre Creek (gold exploration project), Red Star (high-grade silver and lead orebody) and Horseshoe, White Knob & Bue Bird Mines (historic producers of copper, gold, silver etc. from underground operations).

Sandro Lassmann, Managing Director of NIU Invest, expresses great satisfaction in finalizing this inaugural deal within its critical metals vertical. Lassmann remarks, “NIU Invest has a clear vision to help the Western World to the green transition and establish a significant presence in the global commodities market. Our investment in Phoenix Copper marks our first major investment into this domain. We believe in Phoenix Copper’s strategic vision for business expansion and recognize the vast potential of the Empire Open-Pit Mine in Idaho, United States.

Simultaneously, we are engaged in active negotiations for other promising deals to expand our portfolio further.” The allocated funds will be used to accelerate the pre-mining operations of Empire Open-Pit Mine as well as fuel non-organic growth opportunities in the copper mining sphere.

In May 2024, Phoenix released its inaugural reserve statement for the Empire Open-Pit Mine, reporting proven and probable reserves of 10.1 million tonnes containing 49,677 tonnes of copper, 104,000 ounces of gold, and 4,654,400 ounces of silver, amounting to a total of 66,467 copper equivalent tonnes. Whilst the company is making strong operational progress in multiple exploration projects, the reserves of Empire Open-Pit Mine alone are projected to generate revenues of approximately USD 550 million and EBITDA of approximately USD 250 million over its expected mine life of around 8 years. These EBITDA calculations have been performed by NIU using publicly available information, adhering to market standard assumptions and industry comparisons.

About Phoenix Copper Ltd:

Phoenix Copper Ltd stands as a prominent AIM quoted entity with a focus on base and precious metals within the USA. The company is committed to upholding responsible and sustainable mining practices while delivering value to its stakeholders through operational efficiency and strategic growth initiatives.

About NIU Invest SE:

NIU Invest SE is a European investment firm with offices in Berlin and London, dedicated to entrepreneurship and value creation across four verticals. With a primary focus on facilitating the green transition through strategic mining investments, alongside engagements in real estate, private equity, and capital markets, NIU Invest SE diligently pursues opportunities promising growth and resilience.

Contact

Sandro Lassmann, Managing Director
M:  +49 30 96535790300
Email: [email protected]