Phoenix Copper Share Discussion Threads

[stevi1111] 12/2/2008 13:29

Bubface......PXC are returning cash to shareholders but not in actual hard money but through a capital reduction then soon after a share buyback via tender offer (meaning less shares in issue meaning higher shareprice for same Net Assets)

When I last spoke to the Finance Director I put him bluntly my bearish views (shareprice was 9p at the time) and he sounded horrified that anyone could suggest investors would get less than the 9p then. Hes in the right position to comment so I'll take his word for it.

(Hi Spights....I will get that email sent to you as well....Been busy moving house recently and life is hectic..lol)

[bubface] 12/2/2008 13:16

no stevi111 you're not the only bull,think they're a steal but would like a few things clarified by the company to confirm my thoughts.
i do not think that pxc has put that much into new financing of freedom4 as they have stated that should the disposal be sucessful "the substantial portion of the net proceeds of that sale,together with the net proceeds from broadband disposal....would be returned to shareholders.
but i do think the value of the freedom4 equity is enhanced by intels ongoing support.
there is no point in having general meeting if sudsids are not sold [oakley has significant capital] so there should be no problem with funding,so i am looking for confirmation of the disposals in the next two weeks and i still think there will be equivilent of 10p cash to distribute.
i may be missing something but that looks a good return and a free ride in wimax from here.

[spights] 12/2/2008 13:16

Hi stevi I am still holding.

[stevi1111] 12/2/2008 13:13

I thought VOB's valuation was a little on the conservative side to be honest but really value his efforts.

Say a cash pile after all completed asset sale of £170m and PXC's % share of Freedom4 means the current market cap of £170m is far too low.

Say £220m the lot (Just under 10p per share)

Can't see any downside from here whatsoever but as nobody seems to be buying it makes me wonder if I'm missing something.

[fludde] 12/2/2008 13:07

Stevi- was it actually paid off? For the sums the timing of the settlement is not an issue.

VOB had a good stab at valuation earlier post 27899. A cash pile of £141m after all disposals and debt clearance is a good guess.

The question is how much money is the next Intel investment in Freedom4 and do Pipex have to match it? That will give an indication of any funds remaining for distribution to shareholders.

[stevi1111] 12/2/2008 12:34

Just can't understand why nobody is buying here if there is upside value to be had.

Just took another 100k @ 7.27p to add to my sad investment here.

Am I the only one left ?lol

[fludde] 12/2/2008 12:13

If the proceeds are used to pay off debt and invest in freedom4 then there won't be a payout.

If that is the case it becomes an all or nothing gamble with potentially very high returns or another "Rabbit" experience!

[sarahbudd] 12/2/2008 10:02

Anyone know when the payout may be? TIA

[stevi1111] 12/2/2008 08:15

Thanks Bob......I worked out a maximum of 10p is up for grabs here.

Can't understand why nobody is nibbling at it at these levels. Can you ?

[veryoldbob] 12/2/2008 08:07

>How come no RNS for this news ?

Probably so as not to draw attention to this line in the original statement:

"Pipex Communications PLC will also join Intel Capital in this investment."

Nothing comes free! A big bung to F4 will further reduce the payout to shareholders (but may of course help F4 establish itself).

[stevi1111] 12/2/2008 07:45

Morning all.......

How come no RNS for this news ?

[troys] 11/2/2008 22:15

Intel, through its VC funding arm, said it will make a "substantial" investment in Freedom4, a London-based WiMAX service provider.

[troys] 11/2/2008 22:12

Intel and FREEDOM4 Accelerate WiMax Deployment
Posted on February 11, 2008


Intel and FREEDOM4 Collabrate to Accelerate Deployment of WiMAX Network in the U.K. Intel Capital Provides Growth Capital to FREEDOM4 LONDON – Feb. 11, 2008 – In an effort to bring people faster, lower cost and a truly mobile, data broadband technology, FREEDOM4 and Intel Corporation today announced a collaboration to accelerate mobile WiMAX deployment in the U.K. Intel Capital, Intel Corporation's global investment organization, also announced that it has signed an agreement to make a substantial investment

[brad44] 11/2/2008 21:41

VOB oh not wags!

[veryoldbob] 11/2/2008 20:43

Ah that must be the marvellously-named M-WAG (Mobile Wimax Acceleration Group):



Note the emphasis on "mobile" to distinguish it from Freedom4 and the fact that they're using 2.5GHz.

[brad44] 11/2/2008 20:32

Article in financial heavyweight, london lite, city and finance briefing...nearly stopped laughing..but anyway,WI Fi Rival set for rollout " A consortium of tech cos today set out plans for the first uk trial of wimax a rival to wireless internet access brand wi fi. wimax supporters say it will offer cheaper and faster broadband on the move to laptops and mobiles. The trial starts in april in maidstone. Nortel and national grids wireless division are among the consortium members"

[veryoldbob] 11/2/2008 14:19

Well that explains where some of the sale proceeds will go. Wonder how much PXC's share of the "substantial investment" is? Figures in the last annual report were 1M p.a as a "share of the start-up losses".

WiMAX was always going to be expensive to set up and this way Freedom4 gets a wedge before having to go it alone...

[troys] 11/2/2008 13:23

FREEDOM4 & Intel Expand UK Wireless Broadband Coverage
Fixed wireless broadband ISP FREEDOM4 (formerly Pipex Wireless), which recently began offering the UKs first commercial WiMAX service in Milton Keynes (news), has today announced a substantial new investment deal with Intel Corporation.

Pipex Communications PLC will also join Intel Capital in this investment, which is aimed at accelerating the deployment of Freedom4's WiMAX based broadband wireless services:

"Intel Capital is a major investor in WiMAX technology and is committed to accelerating the deployment of open-standards mobile broadband around the world," said Arvind Sodhani, president of Intel Capital. "FREEDOM4 has built a top-notch management team and this is a strategic investment opportunity through which we can help facilitate the deployment of wireless broadband in the U.K market."

Mike Read, CEO, FREEDOM4 adds, "Following the success of the commercial launch of our services in Milton Keynes, we are in the next phase of our development: making FREEDOM4 the market leader in 'personal' wireless broadband access. The investment from Intel Capital and Pipex Communications will facilitate the roll out of a WiMAX network in other cities around the U.K., providing a truly flexible service to businesses and consumers."
FREEDOM4 currently covers Milton Keynes, Manchester and Warwick, including some outlying areas. The ISP also offers a Wi-Fi service, which serves over 33,000 global Hotspots - . Further details about intended coverage will no doubt surface over the coming months.

[donkeystone] 11/2/2008 12:07

If it's in the Halifax then its:-

" ... six times more than Lloyds TSB and all these other banks ..."

[gryphon2] 11/2/2008 11:55

what is this cash earning us at present?

[lloydc] 11/2/2008 11:12

well there obviously one short there and one long in those last 2 posts lollollol

[propane] 11/2/2008 11:01

this company is now easily worth 25p a share,buy.