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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Phoenix Copper Limited | LSE:PXC | London | Ordinary Share | VGG7060R1139 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.25 | 5,361 | 08:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 4.00 | 4.50 | 4.25 | 4.25 | 4.25 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | -1.54M | -0.0083 | -5.12 | 7.86M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 08:08:26 | O | 73 | 4.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 18/12/2024 | 14:00 | UK RNS | Phoenix Copper Limited Update on ExGen Carried Interest Agreement |
| 28/11/2024 | 07:00 | UK RNS | Phoenix Copper Limited New Website and Updated Corporate Presentation |
| 14/11/2024 | 07:00 | UK RNS | Phoenix Copper Limited Update on Corporate Copper Bond Financing |
| 07/10/2024 | 14:40 | UK RNS | Phoenix Copper Limited Block Listing Six Monthly Return |
| 26/9/2024 | 17:12 | ALNC |  EARNINGS: Zephyr Energy interim loss narrows; Eqtec expenses surge |
| 26/9/2024 | 06:00 | UK RNS | Phoenix Copper Limited Interim Results |
| 19/9/2024 | 06:00 | UK RNS | Phoenix Copper Limited Phoenix Publishes PFS for Empire Open-Pit Mine |
| 26/7/2024 | 18:20 | ALNC | IN BRIEF: Phoenix Copper renews Electra Battery Materials deal |
| 25/7/2024 | 13:50 | UK RNS | Phoenix Copper Limited Earn-in Agreement Renewed for Redcastle |
| 24/7/2024 | 06:06 | UK RNS | Phoenix Copper Limited Corporate Appointment |
Phoenix Copper (PXC) Share Charts1 Year Phoenix Copper Chart |
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1 Month Phoenix Copper Chart |
Intraday Phoenix Copper Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/3/2025 | 19:32 | Phoenix Copper (PXC) | 12,785 |
| 13/4/2022 | 10:42 | Only worth 3.75p on fundamentals | 8 |
| 28/1/2021 | 21:09 | Pipex - Wimax - the next telecoms revolution | 28,146 |
| 08/8/2007 | 10:09 | OO7 FOR YOUR EYES ONLY | 6 |
| 27/7/2007 | 17:18 | Is Pipex the next gutter stock ! | 36 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:08:27 | 4.50 | 73 | 3.29 | O |
| 08:07:50 | 4.50 | 844 | 37.98 | O |
| 08:07:14 | 4.50 | 2,222 | 99.99 | O |
| 08:00:32 | 4.50 | 2,222 | 99.99 | O |
| Top Posts |
|---|
Posted at 17/3/2025 08:20 by Phoenix Copper Daily Update Phoenix Copper Limited is listed in the Miscellaneous Metal Ores,nec sector of the London Stock Exchange with ticker PXC. The last closing price for Phoenix Copper was 4.25p.Phoenix Copper currently has 184,958,967 shares in issue. The market capitalisation of Phoenix Copper is £7,860,756. Phoenix Copper has a price to earnings ratio (PE ratio) of -5.12. This morning PXC shares opened at 4.25p |
Posted at 10/3/2025 15:43 by trader465 You’re correct, under IFRS accounting rules, stock options can create misleading financial statements that do not reflect real cash movements. Phoenix Copper Limited (PXC) recently experienced this when some of their underwater stock options expired or were written off, and IFRS rules resulted in a reported “profit” despite no real financial gain.Here’s why this happened and why it’s a ridiculous accounting outcome 1) Why Do Stock Options Normally Have No Cash Impact? Stock options are a non-cash expense. When stock options are granted, the company records a “share-based payment expense” over time. But this is just an accounting entry—no actual cash is spent. When stock options are exercised, the company gets cash. If an employee or director exercises options, they pay the strike price to buy shares. This is when the company actually receives cash. Reality: PXC’s stock price has fallen below the option strike prices (“underwater&# 2) So Why Did PXC Report a Profit When Options Were Written Off? Under IFRS 8, the stock option expense is booked when granted, not when exercised. This means that if PXC issued millions in stock options to executives, they recorded a cost on the income statement. If the stock price crashes and options expire worthless, IFRS 8 reverses the “cost”&# Since those options are no longer a liability, accounting rules reverse the expense previously booked. The company suddenly records a “profit” even though nothing actually changed financially. Reality: This is completely artificial—PXC didn’t suddenly make money, but IFRS accounting says they did! 3) Why This Is Totally Misleading for Investors No Real Money Was Earned This “profit” is just a paper adjustment—PXC didn’t generate revenue, didn’t improve cash flow, and didn’t make a real gain. This Masks PXC’s True Financial State Investors who don’t understand IFRS rules might think the company made money, when in reality, the business is still burning cash. It Highlights How Much Stock Compensation They Previously Gave Away If writing off options leads to a big accounting profit, it means they had issued a huge amount of stock-based compensation before. 4) Why Do These Absurd IFRS Rules Exist? Designed for Consistency, But Backfires in Reality IFRS 8 rules require stock-based compensation to be accounted for over time, even if no cash is involved. When options expire worthless, IFRS reverses the cost, making it look like a financial gain. This works well in theory but creates misleading “profits” Final Verdict: PXC’s Reported Profit Is Meaningless The “profit” is just an accounting trick—there This happened because PXC issued stock options that later became worthless. Investors should ignore this IFRS-based “profit” and focus on real cash flow, which is still negative. |
Posted at 10/3/2025 00:08 by trader465 PXC Funds Konnex with No Clear Oversight:• As of June 2024, PXC had loaned $31.2M to Konnex. • This has increased significantly from $27M just six months earlier. • The company claims that this money will be repaid from future mine revenues, but there is no guarantee of this happening. Directors Maintain Full Control Over Konnex’s Cash: • Since Konnex is private, PXC insiders can control spending without external audits. • No obligation to disclose detailed financials, salaries, or payments to related parties. Potential Misuse of Funds: • If PXC collapses, Konnex’s assets could be transferred or written off with little transparency. • Any funds funneled into Konnex could disappear without accountability. Why This Matters: Since Konnex is private, money can easily be moved, spent, or extracted by insiders without shareholders knowing. If PXC fails, there’s little recourse for investors to recover funds sent to Konnex |
Posted at 10/3/2025 00:02 by trader465 Top 10 Red Flags Suggesting Financial Mismanagement or Potential Fraud at Phoenix Copper (PXC)1. Sharp Increase in Payments to Private Subsidiaries Controlled by Insiders • Loans to Konnex Resources (Idaho subsidiary) jumped from $27.03M to $31.2M in just six months . • Loans to KPX Holdings Inc. skyrocketed from $2.6M to $6.27M . • Total money funneled into private entities now exceeds $37.47M—these subsidiaries have zero independent oversight. Why It’s a Red Flag: By moving cash to subsidiaries they control, directors can spend the funds as they see fit—with no requirement to disclose where it goes. ⸻ 2. Only $5M of the “Secured” • Bond financing was announced in May 2024, but only $5M was drawn in June. • NIU Invest is now “reviewingR • The company is now scrambling to find new bond investors. Why It’s a Red Flag: This suggests NIU Invest was never fully committed, or there are undisclosed problems preventing further funding. ⸻ 3. Continuous Share Issuance Despite Supposedly Secured Bond Financing • 60M shares were issued in early 2024, raising $8.9M. • Another 3M shares were issued post-period, raising $630K. • Dilution continues despite the company claiming it has secured bond financing. Why It’s a Red Flag: If PXC truly had access to $80M in bonds, why keep issuing shares? This looks like a last-minute attempt to extract more cash from shareholders. ⸻ 4. “Updated Project Economics” Excuse Used to Stall Further Bond Drawdowns • The company now claims that bond financing will be based on a “review of updated project economics”. • The Pre-Feasibility Study (PFS) was published in September, yet NIU Invest is still delaying funding. Why It’s a Red Flag: This is a classic stalling tactic—delayin ⸻ 5. Directors Maintain Full Control Over Funds with No Oversight • The majority of company funds are held within private subsidiaries (Konnex & KPX). • These entities are not publicly audited, and spending is not disclosed. • Directors can move money, hire related parties, or extract fees—without scrutiny. Why It’s a Red Flag: This removes accountability and makes it easier to siphon money out before a collapse. ⸻ 6. Corporate Bonds Structured in a Way That Allows Further Cash Extraction • The bonds are secured against the Empire Mine—meaning bondholders get assets first if PXC collapses. • Bond interest payments are linked to copper prices, meaning payouts could be delayed or manipulated. • The company paid a “bond arrangement fee” by issuing 33.88M shares and 22.59M warrants. Why It’s a Red Flag: The bond structure favors insiders and early investors, while leaving retail shareholders exposed. ⸻ 7. No Clear Timeline for Revenue Generation • Despite $42.1M spent on Empire Mine, PXC still has zero revenue. • The company is now shifting focus to underground mining exploration, delaying production again. Why It’s a Red Flag: Endless delays suggest a strategy to keep raising money rather than delivering results. ⸻ 8. Excessive Capitalization of Expenses to Inflate Asset Values • $3.32M in share-based payments were recorded as “bond issue expenses”. • $720K in share-based payments were capitalized into mining property, hiding true costs. • $327K in loan fees and interest were capitalized into mining property. Why It’s a Red Flag: By capitalizing expenses instead of reporting them as losses, the company makes its financials look stronger than they are. ⸻ 9. Unjustified Rise in Administrative Expenses • Administrative expenses jumped to $1.1M in H1 2024, up from $617K in H1 2023. • The company claims it is in a “cost-cutting& Why It’s a Red Flag: Companies burning cash should reduce spending—not increase it. ⸻ 10. The “Permitting & Feasibility Study” Delay Strategy • The company has been working on Empire Mine for years, yet permits and funding are still “in progress”. • Now, PXC is shifting focus to deeper underground mining, delaying production again. Why It’s a Red Flag: This looks like a delay tactic to justify more fundraising while avoiding production. ⸻ Summary: High Risk of Financial Mismanagement or Fraud These 10 red flags suggest that PXC is not a legitimate mining operation—but a vehicle to extract cash before collapse. If bond financing fails, expect: • Further share dilution. • Management resignations before failure. • Possible insider selling before bad news drops. ⸻ What Should Investors Do? Investigate: • Where exactly has the $42.1M gone? • Who controls spending at Konnex & KPX? • Is NIU Invest a legitimate investor, or just a tool to stall collapse? Be prepared for a worst-case scenario where the company runs out of cash and insiders walk away. |
Posted at 09/3/2025 14:29 by london07 Not being crystal clear with shareholders is the one of biggest problem with pxc. Shareholders have to make an informed decision.Some undoubtedly have more information, this is one of the biggest problems. When say the share price was 10p, if they were clear NIU will not be funding pxc, they have issues, we need to find alternative funding, people could choose to buy or sell, entirely their perogative. Here we have a case of the majority dont know whats happening. Some very close to the BOD, and investor relations do know whats happening. The ones that do know, could well have sold all the way down, and could be buying back in cheap or not. The ones that dont know are simply left holding the bag, nursing massive losses, some crytalising those losses at the very bottom. AIM is dodgy, but this is as dodgy as i have seen. Several months of total silence. The 2nd payment not recieved and staying totally silent on it was equally murky, I just dont know how this is allowed. In my opinion they cannot be clear, because if they did it would be embarrassing to admit what has transpired with NIU. They are just about keeping the lights on with supposedly deferring wages, must be in a very tight spot. |
Posted at 08/3/2025 21:55 by trader465 Donald, your latest masterpiece of corporate nonsense deserves an award.“While the gold and silver price is also roaring ahead. At the same time, fuel prices are dropping. All of this is very positive for the margins at the Empire project.” Reality Check: What margins, Donald? You need a mine to have margins. PXC doesn’t have funding, doesn’t have a bankable feasibility study, and certainly doesn’t have a producing mine—so what difference does metal or fuel prices make? It’s like me saying, Ferrari prices are soaring, so it’s great for my nonexistent Ferrari dealership. “Right now, we are doing exactly what investors would expect: focussing on getting the investment needed to bring Empire into production.” Reality Check: "Focusing" on something isn’t doing it. Try building a mine instead of focusing on it. Investors don’t need “focus”; they need funding, execution, and results—none of which you’ve delivered. “There are signs that private money is starting to move into the mining sector.” Reality Check: Which signs, Donald? Care to provide one single example of PXC benefiting from this mysterious private money? PXC needs institutional funding, not vague ‘private money’ hype. |
Posted at 08/3/2025 09:16 by francoismyname I know most of you have seen Zak’s Xmas note on Phoenix but think it may be coming to fruition very soon for long term shareholders.Good luck all. Hopefully it goes well beyond 15p for you all. Copper prices much higher than 3 months ago so looking at 20p plus if funding is found . Also Trumps America first policies must surely help. “Phoenix Copper (PXC): 5.5p Target 15p The market has not been kind to PXC in 2024, but given what the company has already stated as the year comes to a close, there is the prospect of the company getting itself “over the line” in terms of its corporate copper bond financing early in 2025. Helping the risk / reward at current share price levels (a £10m market cap) is that despite the company having enough cash to go into 2025, and being in discussions with a number of potential funders, the shares are trading at option value money given the massive opportunity highlighted by the Empire Mine open-pit Pre-Feasibility Study, published on 19 September 2024. Expect the shares to respond well to any whisper of bond finance being in the bag over coming weeks.” |
Posted at 05/3/2025 11:05 by zb27 Phoenix only posted this on their twitter 30 days ago, and this was when the share price was 4.5p:Phoenix Copper Limited @Phoenix_Copper Hi Ric, we strongly believe that our share price doesn't reflect the true value of our assets and are working hard to correct that. With 8-12% copper intercepts, a solid PFS and being US based, we have a great resource in the right place. As soon as we can update, we will. #PXC |
Posted at 21/12/2024 15:09 by donald pond There is a lot of disinformation/total lies on this BB.ExGen originally owned 100% of Konnex. At IPO Phoenix acquired 80% of Konnex for a relatively low price, in return for guaranteeing a minimum annual payment of $100k to ExGen, a minimum annual spend of $500k on the Empire property, and some shares in PXC. It was, and remains, an arms length relationship. It is technically a related party transaction because ExGen has a single director, Jason Riley, on the board of PXC. But ExGen are an independent company with their own activities. This is relatively common in the mining world. X owns a site but for whatever reason isn't developing it, so partners up with Y, who promises to do so, and X gets cash, certain guarantees, and an interest in the property being developed, and may put a director on the board of the JV to keep an eye on progress. These are not the same people negotiating among themselves. It's simply wrong to suggest otherwise. As for PXC now funding the whole of the mine... Prior to this RNS, PXC were required to fund 80% of the mine, and if they produced a bankable feasibility study, accompanied by two offers of funding for the full 80% from banks, then ExGen would be required to fund 20%. The problem with that is that a BFS costs a lot and takes a lot of time, and anyone willing to fund 80% of a mine is almost certainly going to be willing to fund 100% of a mine. Or to put it another way, nobody will fund 80% without knowing where the other 20% will come from. So it is simply more practical for PXC to borrow the full 100% than require the BFS, 2 formal offers, and then either Exgen gets 20% or PXC has to find the other 20% anyway. So this is a very positive RNS that simplifies the obligations between PXC and ExGen and provides a clear foundation for funding. Whether funding can be obtained is the key challenge. Nobody disputes that. But recent posts on this thread have simply been factually incorrect, and those making them should ask themselves why they feel the need to go onto a bulletin board about a company they have no financial interest in to post lies. It's not a good look. |
Posted at 20/12/2024 10:48 by klondykejohn Greyingsurfer. I think you are missing the point here.Exgen cannot afford the 20% cost of production at this moment in time and will certainly not be able to afford the 20% of $80m dollars to complete the production. It is a private company owned by JR and RW and maybe some other players.(Are other PXC board members shareholders too in exgen? I do not know) There are no shares traded in this company which makes me think that they have been part of the stumbling block all along. Unable to get a sizeable loan at decent rates of interest and lenders prefer to lend to one party, not two anyway. PXC state that by lending them funds and creating a single loan source (bonds), this will make it easier to fund the proposed production. Agreed, this will make it easier, but what have exgen given in return. Absolutely nothing. As I have tried to state previously, what are they putting on the table for this deal? Seems to me that they are not giving up any of their 20% holding, and the risk is now entirely with PXC and its shareholders. Did PXC board require some form of guarantee from exgen to cover potential losses? I do not know, but PXC board should have insisted that exgen either help in funding or simply lose their stake in Empire. This is what running a business is all about. This agreement has meant that PXC shareholders have lost an additional 20% ownership which in itself might have sparked the market into some positivity. As I stated, RW and JR are big players in both exgen and PXC and may have had a big input in PXC not demanding that exgen stump up or lose their interest in the mine. Perhaps the PXC board can shed some light on this, as it seems to me that PXC shareholders are losing out. This is just my take and if you have read some of my previous threads, you will note that I have repeatedly asked about exgen, their ability to provide production cost funds and why on earth did PXC not buy them out, absorb them or just enact the clause that gives the exgen part of the mine to PXC. To date, I have never had a satisfactory reply on any threads and this bee in my bonnet has just been brushed under the table every time. Perhaps Marcus can offer some form of clarification over my issues. |
Posted at 16/12/2024 10:01 by dougmachin FWIW, my take on NIU:I still think it's in NIU's interest to have a successful relationship with PXC: - They've committed 5 million, which is still a sizable amount. - If they don't uphold the 75m, that would reflect negatively on their reputation. - If NIU tried to get more shares (to takeover) then the share price would rocket anyway. - NIU hold 18%, but it's a %age of "nothing" if PXC goes to the wall. - Then the only other option would be to buy the company out of the administrators... which could be full of issues. For example, maybe all the important information, such as Ryan's model of where to drill could still be kept confidential. This would be a significantly different prospect for NIU to actually run the company, rather than just taking the bond interest and increase in share price if/when that started to take off. - After all this work, I imagine the BoD wouldn't go down without a real fight. The BoD have still got something to prove and they've been in this a long time too. Salary is 1-thing, but they're really not just here for the salary. - After coming all this way, it does make sense for NIU to continue (of course things sometimes don't make sense), but things take time. The AIM market in particular is not patient and PXC is illiquid. Maybe just a little more patience is needed. - Also, maybe it's good that NIU are forcing PXC to run an even tighter ship. If/when NIU commit the next 5 million, there could be a good re-rate from here. Going in with (just!) another 5m would show they're serious. It's either going to the wall or there could be a (minimum) 10 bagger from here. DM |
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