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North American focused base and precious metals miner Phoenix Copper posted a first-half loss, as it developed its Empire Copper prospect in Idaho.
Pre-tax losses for the six months through June amounted to $0.67m, compared to losses of $0.68m on-year.
The company is currently working on a bankable feasibility study for an open pit heap leach SX-EW project at the Empire prospect.
'We believe that the Empire open pit represents the first stage in a potential world class mine, surrounded by significant exploration upside, and offering exposure to high-value metals with compelling demand and supply fundamentals, and a major role to play in a new world order of clean energy and electric vehicles,' chairman Marcus Edwards-Jones said.