Phoenix Copper shares jumped 20% after the company issued a CEO statement aimed at easing shareholder uncertainty following its recent announcement.
Ryan McDermott, Phoenix’s CEO, said: ‘I recognise that our announcement of 9 February 2026 has created uncertainty for shareholders. I understand your concerns following recent developments and would like to assure shareholders that the Board and management team, with input from our professional advisors, are taking all the necessary steps to progress the investigations we referred to yesterday as thoroughly and efficiently as possible.
‘We’ve already taken action to ensure continuity of leadership, whilst also minimising any disruption to the Company in the short term while the investigations are ongoing. The Company will provide shareholders with a further update as soon as reasonably possible once our internal reviews have been completed.
‘In the meantime, I would like to provide reassurance to shareholders regarding the Company’s current strategy and priorities. Importantly, the Company’s core assets and projects remain unchanged, and the Board continues to believe strongly in their long-term value and development potential. Work relating to the advancement of the Empire Project and broader strategic options continues.
‘I would like to thank all of our shareholders and stakeholders for their continued support and patience while the Company works through the processes necessary to conclude our investigations.’
For further information please visit https://phoenixcopperlimited.com.
