Phoenix Global Resources secures additional funding for Argentina plans

Phoenix Global Resources said it had secured additional funding of $50m to support the first phase of its 2019 business plan in Argentina.

The boost came amid an increase in a convertible revolving credit facility with the Mercuria Group to $235m.

'I am pleased to announce that funding is in place to support the first phase of our 2019 work program, which will allow Phoenix to continue to develop its highly attractive asset base,' chief executive Anuj Sharma said.

'Management will be providing an update on operational activity towards the end of February.'

At 9:39am: (LON:PGR) Phoenix Global Resources PLC share price was +1.45p at 25.55p