The Ryedale side are on a roll in Region 2 North East towards the end of 2024 and looked set to start the new year on the right foot as they built a 26-7 lead in South Yorkshire.
However, the tables were turned in their last win over Scarborough three weeks ago, with Phoenix crossing the line with a costly penalty with two minutes remaining.
Malton missed a late chance to level the score, but their meek surrender was clearly jarring.
Malton kicked off on Doncaster's main pitch with Richard John filling in as coach on the sidelines, with Dylan Jones looking alert and animated as he spent the opening minutes firmly in Phoenix's half. Ta.
The hosts, on the other hand, came out on top in a tense early scrum exchange, probably as a result of Malton defending three props in the front row.
Will Bell was outstanding in the early lineout, winning the ball from the home throw-in before establishing himself in the Phoenix 20-metre zone for the visitors. James Bloomer duly stepped up and opened the scoring with 13 minutes left.
Malton had three points from the kick-off, with Jacob Stephenson sending a perfectly weighted long kick into the home red zone, and after a few stages of grunts and shoves, Bell crossed the line to score.
Things looked to get even better in the 30th minute after Tom Ray's strong break put Malton past half-time, but after sending his team-mate clear, he was denied by supporting Dylan Jones. An unnecessary and sloppy last pass went to the ground, begging for seven points.
The visiting team's next point came off the tee six minutes before the break, when Bloomer bisected the post from 28 meters out to make the score 13-0.
But Phoenix's response was immediate, and while Malton fumbled for a restart, Johnson staggered over from 5 meters out and got his teammate on the board.
However, in the closing stages of an action-packed first half, Malton found their footing and Bill Collier picked up some good yards before linking up with fellow winger Ray to score wide without a miss.
The hosts looked to fight back again after a high tackle, but the corner went unpunished as Malton completed the turnover and cleared the lines at the half-time whistle, holding an 18-7 lead. .
After the restart, Malton was once again guilty of a missed opportunity as Jones curved and almost collided with the full-back, possibly sending the score to the West.
Phoenix was shown a yellow card in the 44th minute, squandering another great chance. Bloomer missed the target, but he made up for it six minutes later when the hosts, still one man down, awarded another penalty kick, making the score 21-7.
Malton continued to get the home front row, but this time they leaked a penalty to the cleaners. Again, Bloomer was awarded a point, but another shot went wide and ultimately a missed tee shot proved costly by full-time.
Undeterred, the hosts scored their fourth try two minutes later, with Jones setting up Bell with great skill, who sprinted 45 meters to add a well-deserved five points and give his side a fourth try. I put it on cruise control.
Malton looked to protect a healthy margin and four vital league points, but the Phoenix had other ideas and the introduction of two big props began the dismantling of the visitors in the final 25 minutes. Ta.
Phoenix's failure to clear the line led to Phoenix's Johnson scoring a two-point goal in the same period. Moments later, Malton's old foul-mouthed blunder resulted in a penalty corner, which earned him seven more points and gave the hosts a chance of victory.
The momentum was on the hosts' side and with Malton giving away another penalty, Phoenix powered forward to level the score with 10 minutes remaining.
The visiting team was shocked by how they gave up a 19-point lead and kept opening the door to their opponents.
And the Phoenix completed their counterattack in the 78th minute, converting a penalty for Malton to do the same thing he did in Scarborough last month.
But the late drama didn't end there, as Malton was awarded a penalty in range in the closing stages, but a botched lineout call ruined their last chance.
They will be hoping to turn things around with this weekend's game at Pontefract.