Phoenix Copper Share Discussion Threads

[spights] 12/2/2008 22:49

Where is Trad our expert on Wimax?

[spights] 12/2/2008 22:48

For Intel to invest large amounts they must have confidence. I will hold my shares in Freedom 4.

[stevi1111] 12/2/2008 22:38

The main problem I see is that the Wimax venture needs a bucket load of cash spending on it before it can be fully rolled out.

I remember both NTL and Telewest using shareholders to fund their network rollout then they both shafted shareholders completely furthur down the line.

As soon as I get my shares in Freedom4 I'll be taking the first opportunity to dump them as no doubt Freedom4 will soon be going cap in hand to shareholders.

[spights] 12/2/2008 22:31

Also the interest on their Fidicuary account.The wimax side seems far too low

[spights] 12/2/2008 22:28

12p and share in Freedom 4

[stevi1111] 12/2/2008 22:25

Spights.......Pipex's accounts are now very easy to breakdown and read.

Definately can't see more than 10p maximum here. (More than likely around 9p + a shareholding in Freedom4)

[spights] 12/2/2008 22:15

I still think you are all on the low side. Remember many of the big boys paid 13p......and they were not the shorters we see here most days.

[stevi1111] 12/2/2008 21:55

So lets say £105m approx current cash balance

PLUS

Say £100m for the hosting & network services division

PLUS

PXC's JV stake in Freedom4

= £225m at LEAST.

or 10p per share. Sounds about right.

That'll do for me.

[spights] 12/2/2008 20:19

Spights ------18p
Donkeystone --17.99p
Troys --------17.20p
plast---------16p
Tonybaloni ---15p - soon
MavTT --------14.75p
fullupfool ---14.50p
singy --------13.5p
bubface ------13p
ps0u3165------12.75p
SarahBudd 12.4p
veryold bob --12p
chrissey -----11.6p
propane-------11.50p ------need more (you will)
metamopper----11p
dave-w -------10p
Invest Ted ----9p
Joesmoke (returns) ---7p
Howling 0.002p

[bubface] 12/2/2008 19:45

vob could be close...really depends on how the market [and intel capital] value freedom4.

[veryoldbob] 12/2/2008 19:34

LOL. No need to comment but GS's 10p would still mean I was over-optimistic...

[bubface] 12/2/2008 17:40

growthhunter,yes it is but i can't cut and paste so have typed word for word from their european morning summary feb 11th.

so if we get circa 120m-130m as i hope then will be 10p in cash per share and wimax.i personally think the valuation on freedom at £25m too cheap....it may be based on the price intel originally bought in at which i think gave it a value of $100m...therefore £25m for pxc 50% stake.i think with the potential of wimax in uk, value could achieve overall £100m,therefore £50m for pxc stake.though we need to see what deal has just been done and what value is attached to it.
£25m =just over 1p per share therefore £50m about 2.1p.

[spights] 12/2/2008 17:25

VOB any comments:o)

[growthhunter] 12/2/2008 17:05

bubface....is that for real ?

[spights] 12/2/2008 17:04

bubface thankyou:o)

[bubface] 12/2/2008 17:02

from goldman 11th feb morning minutes.
pipex announced that it is in an advanced stage of negotiation with a single bidder for the sale of some or all of its hosting & network services division.no terms have been disclosed.
should a sale conclude ,the company plans to return to shareholders a "substantial portion" of the net proceeds plus the net cash [£107m on our estimate] already recieved from the sale of the broadband business post repurchase of the company's conv debt.the return is expected to be via a tender offer for a roportion of the ordinary shares.should no transaction arise,the company expects to run itself as currently constituted.
.....about meeting......
analysis
market cap £174m,consequently if the hosting and network business sells for more than £67m,the amount of cash returned to shareholders could exceed the current market value.ignoring the potential value of the retained assets [largely the stake in the wimax operation] we value the hosting and network business at £105m and the stake in wimax network at £25m.
implications
we see this announcement as positive for the stock since it confirms a sale as a real possibility and that receiots will be largely returned to shareholders.however it is not clear what happens to the net cash balance in the event that a sale is not achieved.
target 10p buy rating maintained.

they also have a pre disposal cash balnce in excess of £100m.

[spights] 12/2/2008 15:36

yes :o)

[troys] 12/2/2008 14:58

Someone wants our shares on the cheap. Only longtermers here. :-)

[ludlow3] 12/2/2008 14:46

good luck ..

[stevi1111] 12/2/2008 14:45

OK Ludlow...

Looks like you will miss out when the hosting division sale is announced.

Bye then.

[zimbi] 12/2/2008 14:43

muppet alert.

[mr bagpuss] 12/2/2008 14:41

whatever, their name is being dragged through the mud nevertheless. A strong sell.

[stevi1111] 12/2/2008 14:38

About Pipex Mr Bagpuss?

Their hosting I presume as they sold their broadband division to Tiscali months n months ago now ;)