Phoenix Copper Share Discussion Threads

[kooba] 24/4/2024 12:43

I agree before folks get too excited that if and it seems a big if they can get some bond finance together to progress the development that the terms will be that advantageous to equity holders..how much will have to be given up and what security will the bond holders have over the assets.It could end up being just as dilutive of interest in the business or of control.Will read the small print if /when it happens.In the meantime the focus still on when the get a PFS out to shareholders....and if anyone anywhere knows who is producing it and signing it off. DP seems not to.

[paulhopeful] 24/4/2024 12:12

Haveapunt1: I agree, looking back recently the markets haven’t been good, But nobody knows how they will react looking forward? Market does value risk, just at a lower level currently, it’s been the same for most juniors. Think your guess is more realistic but would imagine a spike above this if there is a race to join. Hopefully PXC finds the need for speed and any new investors stay for the long term, the world needs more copper, that we do know.

[haveapunt1] 24/4/2024 07:28

60p is a market cap of £80mil. There is no way imo PXC will be that on finance (which is repayable of course at a fairly hefty rate). The mine is likely to be 18-24 months before even pulling anything out tongue ground, coupled with permitting risks and construction risks. If all goes well with the bonds my guess is 35p ish. The market is not what it was any longer, they do not value risk. A long way to go. The only thing that has kept me here is the metrics on cooper, a lack of other plays, and the fact Hughes has chucked in good money (board haven’t), so one would like to think he is maybe more privy to information that retail.

Time will tell, but PXC requires progress not words. Let’s see if they do a virtual AGM so investors can interact with the board….im not holding my breath

[paulhopeful] 23/4/2024 18:31

Well that’s definitely a higher high, my guess on good news is 60p, to release the Warrants.. every little helps, especially now there’s becoming a shortage of Copper.

[3weeksorso] 23/4/2024 16:27

I disagree with you here Pants. Respectfully, when I and others invested in pxc we were led to believe their finances were robust after the last placing which would finance the company to bring the open pit of Empire into production. There is a YouTube Video where you chair a meeting in which, RW I believe, states that very thing.

Now of course, many things have happened in the world that haven't helped matter but that you now ask me to disbelieve what I see and hear is alarming to be honest.

[haut brion 58] 23/4/2024 16:16

A lack of perception, I think DP and shows you to be quite tone deaf. The Chairman and FD have handled things very poorly and led us up the garden path with their 'jam tomorrow' assertions, creating unnecessary share price volatility. About time they stopped hiding behind you, Donald, and faced us shareholders. We must be nearing a 2+ year close period. I just feel sorry for Ryan in Idaho who according to our FD apparently had no need for money until August 2023.

[haveapunt1] 23/4/2024 16:11

I don’t think poor @Qaz has got the idea of these discussion boards yet lol. Basically anyone that doesn’t agree with his tripe is wrong and filtered. Oh the joys of these boards (he says with a roll of eye). Maybe we have too many on here inept at discussing the stock, are utterly clueless or just live with rose tinted glasses on. Probably a combination of all three. Contrary to popular belief it’s heathy to have alternative views! All I go on is fact. Two years no finance, no PFS, no revenue and a raise which the board reluctantly contributed the near minimum.

Time will tell, but the likes of @Qaz juts goes to show, 90% on here just can’t “discus”.

[qazwsxedc69] 23/4/2024 16:02

Only 7 posts on that account from "3weeks" - all on PXC, and all entirely negative, with zero contribution. Also the second account of another proven clown.....An easy filter.

[pantsonfire] 23/4/2024 15:43

3weeks, I beg to correct you. Every project of this nature requires finance, and to think otherwise is rather naïve. Your post is therefore inappropriate.

[3weeksorso] 23/4/2024 15:35

DP they have spent/burnt through a sizeable amount of money here. I believe when I first invested they had enough to bring the open pit into production. They spent it all, every penny then went cap in hand for a loan. Chapeau gents for the cost cutting.

[sportbilly1976] 23/4/2024 15:18

DP - I guess the accounts to be released soon will show to what extent costs have been cut, and from where.

[haveapunt1] 23/4/2024 15:05

I would also like to see what “costs have been cut” as I do not believe any shareholder has been advised of cash saving, and I certainly do not see the excessive board salaries being reduced…the most basic and fundamental way to “cut costs”.

Reality check needed from an independent position not IR

[haveapunt1] 23/4/2024 15:03

@DP. With respect, what they are doing with the bonds is not novel at all. Plenty of copper companies and indeed those now producing opt for this route. It is inexcusable however to believe they can get bonds away with no PFS (that is fundamental basics in “this market”), and to rinse and repeat the same lines for two years. Perhaps if the board engaged more with SH’s and helped them understand they wouldn’t get the criticism they do. It is self inflicted. I have little sympathy. The board have made fundamental mistakes at the expense of holders, whilst throwing £14k each into a recent raising. Confidence?

The board should take note from GMET. That is how IR and investors should be treated. It really doesn’t take much.

[donald pond] 23/4/2024 14:46

I've been trying to keep quiet as I have previously acknowledged that everyone is waiting for news, on both the PFS and funding front, rather than bluster from me.

But I do feel compelled to step up and defend the board. Ryan has done a great job, with limited resources and a very small support team, in pulling together the PFS. That is a huge job. Of course the proof of the pudding will be in the eating, but within a week or two it should arrive and I am confident it will be well received.

As far as Marcus and Richard are concerned, it is easy to sneer from the sidelines, but the copper bond was a really innovative idea that allows lenders to participate in some of the copper upside while reducing dilution. It has created interest and with copper looking strong, that interest will hopefully turn into cash. But look across AIM, and not many companies have been able to raise funds at all over the last 2/3 years. We have been in the midst of a funding drought, and the board are not to blame for that. They haven't given the company away, and as soon as the drought ends, we will be in a great position and the board may well be perceived as heroes.

It has been an incredibly challenging time to be a pre-revenue resource company. I don't think anyone could have done a better job than the current board. There are plenty who would have issued hundreds of millions of shares for pennies. But we have cut our costs, focussed on doing everything we can to make the project as robust as possible, and as soon as investors are ready to put their money to work - and it feels that is starting to happen - we have a project that is ready to go and in a fantastic jurisdiction.

[sportbilly1976] 23/4/2024 13:54

NT currently at 14p for 1,001-7,500 (7,501+ is 14.2p)

[zb27] 23/4/2024 13:24

If anyone missed it.
Not saying it's in anyway related to PXC, but very interesting.

US Government has just provided $50m to Rainbow Rare Earth's to develop a mine in Africa!

With the geopolitical situation, US need domestic supply of all metals urgently!

hxxps://www.cityam.com/us-set-to-fund-london-listed-rainbow-rare-earths-mining-project-as-china-battle-hots-up/

[juju44] 23/4/2024 12:10

Why not remove the board immediately . They have always had a negative impact on prospects

[qs99] 23/4/2024 11:24

Given the copper price rise and holding up v.well, IMO would have thought the bond issuance would have gained more strength no?!

[bsg] 23/4/2024 11:04

Sounds like a pump and dump coming. Bonds, no chance. They'll just survive with placings now.

[soulsauce] 23/4/2024 10:20

Good to see finally sportbilly long may it continue.

[sportbilly1976] 23/4/2024 10:18

2+ month price breakout

Small steps but hopefully, finally out of the 10.5-12.5p range