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PXC Phoenix Copper Limited

11.75
-0.15 (-1.26%)
Last Updated: 08:00:00
Delayed by 15 minutes
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
  -0.15 -1.26% 11.75 65,115 08:00:00
Bid Price Offer Price High Price Low Price Open Price
11.50 12.00 11.75 11.75 11.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec -1.55M -0.0124 -9.48 14.68M
Last Trade Time Trade Type Trade Size Trade Price Currency
09:32:06 O 20 12.00 GBX

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Date Time Title Posts
22/4/202408:09Phoenix Copper (PXC)10,754
13/4/202211:42Only worth 3.75p on fundamentals8
28/1/202121:09Pipex - Wimax - the next telecoms revolution28,146
08/8/200711:09OO7 FOR YOUR EYES ONLY6
27/7/200718:18Is Pipex the next gutter stock !36

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Phoenix Copper (PXC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:32:0712.00202.40O
08:15:4311.7922,0002,593.80O
07:00:2612.0041850.16O
07:00:2612.00414.92O
07:00:2612.0016619.92O

Phoenix Copper (PXC) Top Chat Posts

Top Posts
Posted at 22/4/2024 09:20 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 11.90p.
Phoenix Copper currently has 124,928,622 shares in issue. The market capitalisation of Phoenix Copper is £14,866,506.
Phoenix Copper has a price to earnings ratio (PE ratio) of -9.60.
This morning PXC shares opened at 11.75p
Posted at 18/4/2024 08:17 by kaos3
if i do not know i start thinking in a simplistic terms...

TIME

in 2 years they were not able to get financing for a superb project
now that is saying to me loudly

either

* it is not a superb project

or

* unept management. intentionally or for real

time test has been passed

so i will not gamble nad invest before pxc is derisked

regardless of the share price
Posted at 18/4/2024 07:56 by sipptrader88
October '21 PXC share price reached around 77p........Now at say 11p my shares and that of the BOD are down to about 15% of where they were.

When I looked at their holdings combined I noted in my head that being approx. £4m down from October '21......they (the BOD of PXC) have "all to play/work for"

That is all....it's just a conception...and that is why I had the ?? after the £4m in the previous post (693 above).
Posted at 17/4/2024 14:55 by sportbilly1976
FD,

That is a fair question - obviously to date, not much tangible progress has been made.

I suspect though that the lack of bond financing has not all been down to PXC - some investors may have made all the right positive noises and intentions and then, for whatever reason, fallen away or decided not to proceed.

Obviously, as a non producing resource company, funds can only come from shareholders/investors (loans require interest cover - again, no income to meet this)..and I do expect that the Board had believed they would have had funding in place to achieve this.
The PFS will no doubt show the excellent economics of the project.

The comment from RF both in the rns and also on LinkedIn do hint that conclusion of bond finance is imminent...indeed I'm sure RW would love to repay and close off any RF obligation with the initial tranche drawdown.
Marcus has just one main "in" for Phoenix, even the Company website has only one main highlight on him - his ME corporate finance experience and contacts...


With the current share price, company valuation and the resource / value upside I have used to lull over the past month or so to average down (I partook in the shareholder fundraise at 35p) and see PXC as an excellent risk/reward investment...and so continue to hold
Posted at 05/4/2024 07:44 by sipptrader88
Indeed to an extent....yes....I "consider the share price reflects the risk /reward correctly". That is what the market is valuing PXC at!

Personally I feel 20p would be about right....but my 20p view means little at this stage....whether possibly or not right....all it does do is highlight that 12p or there abouts gets an investor a lot more shares for a modest investment...than when I was buying at 46p!

I agree we need some expectations to be delivered pronto and I think by June '24 we should be in a better place with all these 13 week hints in the RNSs!

Signing out for now until then or on prior news!

GLA
Posted at 04/4/2024 20:43 by sipptrader88
It's really quite simple/easy....the tortoise won the race! FULL STOP.

.....by processing all cu/au/ag at once (although starting later)....and causing frustration with retail investors..(because these R.I.s choose to not "DYOR" properly to get a handle on the strategy and why apparent slipped timescales etc.) makes great sense!

.....more money/revenue will come in sooner than individual steps....and your share price should/will reflect this....when the market properly understands!

IMO if you have any further "thoughts" and "concerns" reread this post repeatedly and/or contact the BOD...even read ALL previous RNSs....and get up to speed!

...don't be surprised if your reaction leads to uncontrolled purchase of PXC....but try not to buy OTT....lol!
Posted at 07/2/2024 12:04 by donald pond
On convertible bonds, the point is all about the conversion mechanism. The value of a convertible bond is determined in part by the conversion rights, and they are only valuable if they enable the bondholders to convert and then sell shares at a price that covers the capital of the bond and the interest being foregone. So in the case of PXC, we have said we are looking to raise upwards of $50m. Let's say we want to raise $75m/£60m. We would have to give rights that allow the bondholder to convert to raise that amount. The current market cap is below £25m. We could only allow conversion if the share price was say 30p, but even then, that would require the creation of 200m convertible shares. So we would be giving up around 60% of the company, and not for very much, as any investor would say the conversion rights are so far out of the money that it only justifies a small reduction in the interest rate payable.
You might say "I don't care if the share price gets to 30p", but the flip side of that is that once it gets to 30p, if the bondholders convert in the way I explain, it will make it difficult for the price to get much higher. If it went to 40p after conversion, it would have gone to 60p without. Etcetera. That's why the company are doing their best to avoid dilution.
And if we make it so that it is only convertible after 5 years, the investors will say "that's a heads you win, tails we lose option" so thanks, but we aren't going to give a discount for it. There's no free lunch in this game.
Posted at 28/1/2024 12:25 by papillon
free stock charts from uk.advfn.com


PXC log chart showing EMA's. This chart turned bearish around 18 months ago and going by the EMA's shown has never turned bullish since despite a couple of big bounces in the share price during that time that have proved to be dead cat bounces.
This chart is a factual historical record only. I don't pretend to be Nostradamus, though this chart doesn't look promising!

PS PXC is one of the few shares I follow. Why do I still follow it? Because I did have a small sum invested in PXC. I got rid of them back in either late 2021, or early 2022. Why? Too speculative for an old man!
Posted at 12/1/2024 08:21 by the_debt_collector
Rather surprised how well the share price has held up given the predicament the company is in with Lanstead and lack of cash in the treasury, they clearly need more money soon enough.

The share price hit 13p in mid November on similar worries.

Director salaries $1m pa.
Posted at 04/1/2024 13:59 by dougmachin
There was a 3-month extension to the initial term on 23rd June.
Then the next extension was on 28th September, issued with the interims.
Which is after the 3-months. 23rd September would be the 3 months.
So, seems to be some leeway there...

Also, "At the Company's option, the Loan Facility may be extended to 22 March 2024".

So, either:
[1] PXC are about to extend again and RF aren't so concerned about this exact date, as PXC can extend up until the 22 March anyway.
[2] PXC have reached the point they don't need to extend, 'cos the bonds are getting signed........ (I hope).

There's no way that PXC are going to let RF convert, whilst they have control over it (so between now and 23rd March).

I believe that the BoD are doing absolutely everything to get the funding over the line. Whether they can is the (80) million dollar question.

The volume of sells that has knocked the share price down 50% in just a couple of weeks is pretty paltry. Which is why the share price will go into orbit if funding can be secured.

It's certainly getting "interesting".
Posted at 03/1/2024 15:55 by jbravo2
For those who don’t understand how Riverfort will get their money back…

They won’t wait until the end of the term and then convert all the money owed to shares in one lump.
They’d then be left with millions of shares which they couldn’t sell at a price which would get them their money back. It would be too many shares for the market.
Instead they convert a few hundred thousand at the VWAP-10% and then sell all of those. That brings the price down but that doesn’t matter as that also brings down the VWAP for the next conversion which they do once they’ve sold their first conversion.
The ongoing supply to the market forces the price down and the fact that RF keep getting a supply at the new VWAP-10% means they don’t really care about forcing the price down. They just keep getting more and more shares.
Existing shareholders lose massively.

It’s called death spiral financing as several of these loans have seen a share prices collapse to fractions of a penny as the ongoing conversion gets cheaper and cheaper.
Phoenix Copper share price data is direct from the London Stock Exchange

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