Geomechanics.io

  • Free Tools
Sign UpLog In

Geomechanics.io

Geomechanics, Streamlined.

© 2026 Geomechanics.io. All rights reserved.

Geomechanics.io

CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

Industries

MiningConstructionTunnelling

Company

Terms of UsePrivacy PolicyLinkedIn
    AllGeotechnicalMiningInfrastructureMaterialsHazardsEnvironmentalSoftwarePolicy
    Projects
    Safety

    Phoenix Copper governance shake-up: funding and project risk notes for engineers

    March 9, 2026|

    Reviewed by Joe Ashwell

    Phoenix Copper governance shake-up: funding and project risk notes for engineers

    First reported on MINING.com

    30 Second Briefing

    Phoenix Copper has sacked executive chairman Marcus Edwards-Jones and CFO Richard Wilkins after an internal probe found about $1.765 million was paid between 2016 and 2025 to Lloyd Edwards-Jones, a corporate finance firm owned by Edwards-Jones, without board knowledge or AIM-related party approvals. Investigators also identified a further £610,000 in unauthorised payments, including transfers to an intermediary linked to bond financing made despite explicit board instructions not to proceed. Interim chair Catherine Evans and a newly appointed interim CFO are tightening governance and controls, while Phoenix warns working capital only covers operations at the Empire Copper Reserve project until end-Q2 2026.

    Technical Brief

    • About $1.765 million of these payments related to fundraising transactions processed outside formal board oversight.
    • An additional £610,000 (~$815,000) in unauthorised disbursements included transfers to a bond-financing intermediary.
    • Some of the £610,000 was paid after explicit written instructions from directors not to proceed.
    • Transactions met AIM related-party criteria but bypassed both independent director sign-off and the nominated adviser.
    • Auditor Crowe UK has been notified and will incorporate the related-party disclosures into the 2025 audit.
    • Phoenix currently expects no restatement of historic financial statements, limiting changes to disclosure of these payments.

    Our Take

    With Phoenix Copper’s Empire Copper Reserve project in Idaho framed as a potential non-Chinese supply source in copper and aluminium markets, governance failures of this scale typically raise the cost of capital and can slow project finance processes, especially for junior developers reliant on equity and offtake-linked funding.

    Our database shows copper pieces dominate the 1,691 keyword-matched items, and incidents tagged to board- or CFO-level misconduct often precede management reshuffles that lenders and strategic partners now increasingly treat as a pre-condition for advancing project-level financing.

    The note that existing cash only funds Phoenix Copper through to the end of Q2 2026 means any delay in restoring investor confidence could compress the timetable for securing new financing, a risk that has previously forced schedule deferrals at other North American copper projects in our coverage when governance concerns surfaced.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Mining
    about 3 hours ago

    Orica’s Danafloat copper flotation move: integration and design notes for plant engineers

    Orica has moved into copper processing chemistry by acquiring FMC Corporation’s Danafloat™ range of high-performance flotation collectors, used for copper and other “future facing” commodities. The deal covers proprietary formulations designed to maximise sulphide ore recovery and improve concentrate grade while reducing reagent dosage and environmental impact. For concentrator operators, this adds a major explosives and blasting supplier into the flotation reagent supply chain, potentially enabling tighter integration between upstream fragmentation and downstream recovery optimisation.

    National Group backing mining excellence: project delivery lessons for engineers
    Mining
    about 4 hours ago

    National Group backing mining excellence: project delivery lessons for engineers

    Queensland-based mining services provider National Group is sponsoring a community-focused award recognising resources companies that show strong engagement and deliver measurable change across the sector. The award targets operators and contractors working in Queensland’s coal, metals and quarrying projects, with assessment centred on local employment, training programmes and long-term community investment rather than short-term donations. For geotechnical and mining teams, this signals growing scrutiny of how project delivery, contractor selection and site rehabilitation strategies translate into tangible regional benefits.

    Smarter filtration solutions: dewatering and tailings design notes for plant engineers
    Mining
    about 4 hours ago

    Smarter filtration solutions: dewatering and tailings design notes for plant engineers

    Smarter filtration solutions in wet mineral processing are focusing on high-pressure tower filter presses for slurry dewatering, such as Thejo’s vertical plate designs that deliver low-moisture filter cakes and high filtrate recovery. Suppliers are pairing these presses with automated cloth washing, cake discharge monitoring and optimised cycle control to stabilise throughput and reduce unplanned downtime. For plant designers, the shift is towards integrating filtration with upstream thickening and downstream dry stacking to cut fresh water intake and tailings storage volumes.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.