Phoenix Copper Share Discussion Threads

[colsmith] 09/5/2024 10:43

This extract supporting red metal surge. Rest of article interesting read maybe. Seems to me that whatever happens to dent the net zero fiasco copper demand will surge due to increasing automation (robots etc)and reliance on software systems in general with move to AI. All good for PXC if the stuff is in there and able to be extracted; a sort of money in the bank until it starts to be mined and sold.

"Green bubbles are about to burst, says Friends of Science Society. While the IEA issued an EV Outlook 2024 report in April, filled with much optimism for electric vehicle growth and affordability, at the same time Mining.com reported on April 26, 2024, that copper hit $10,000/ton market price, meaning affordability for all things NetZero becomes impossible."

[qazwsxedc69] 09/5/2024 10:18

Great idea. haveapunt the keyboard warrior, thinks setting up a mine is so simple, and if he's proved anything on here, it is that he is simple.

[jasperthemonkeygod] 09/5/2024 10:02

why don't you put yourself forward, haveapunt and haveago

[haveapunt1] 09/5/2024 09:49

@retirement plan - investingisnteasy has said nothing that isn't common sense (granted he only reposted from elsewhere). The AGM is 'sometime in the next 30 days' - really? never would have guessed.....secondly the board don't want to attend AGM with nothing to say....again...really? common sense not some insider giving cluses.
The board have achieved nothing other than huge salaries. They have not done one proactive video, PR videos/investor meets, other than DP spouting whatever he seems to feel like on the day depending on the vibe on here. The fact the board hide from SH's says it all. 458 drill holes 2-3 years ago....that's it, no PFS, no finance, just rolling loans over for a salary, and buying £14k in a placing lol. This weeks RNS was a clear sign that they do not know how to 'play the market'. A mineral report being issued was pointless. They need to deliver this month or pass the reigns over to a team that can deliver.

[zb27] 09/5/2024 09:34

Traders well and truly flushed out.
Now NT to Buy.

Countdown to AGM and flow of news.

On the inaugural mineral reserve, I said atleast the news embargo is lifted.

[retirementplan] 09/5/2024 09:34

"Needs some replacements on this board" - yep, Juju44 et al, you need to just leave this bulletin board. One might wonder why you are still here, after all those spikes and possible exit opportunities. But, the answer is obvious.

Meanwhile Plutus1 on LSE (not me - I have no idea who Plutus1 is) most likely sums up the real position, as does investingisnteasy below. Both are highly likely to be proven correct this month.

[juju44] 09/5/2024 08:44

Their incompetent delays means they missed out on cheap funds. Now they cant get them even at elevated prices . Needs some replacements on this board

[haveapunt1] 09/5/2024 05:29

Bonds have been days away for two years lol. The PFS will not be issued until bonds closers, and you really think the board really care about shareholders? I don’t think so, they couldn’t care less facing the very few that will actually go, banging out the same excuses

[investingisnteasy] 08/5/2024 22:10

From a very credible poster on Telegram whose ‘guesses’; are almost always very close to reality:

“The AGM will certainly be held within about 30 days from now - very likely in May - and before that there will be a good deal of information released. The reason for info being released is not inside knowledge, its simply that no BoD will want to be facing shareholders with nothing to say - any board will want a good deal of info out before AGM so that they can both speak freely at AGM and answer questions there. Much of the information will be in the Annual Report and Accounts which has to be released 2 weeks before AGM, so not long to wait !”

So AGM in May, let’s say 29th as they have mostly been held on Wednesdays. 14 days before would be 15th, so news flow within 5 days?
Link this to a few posts from various places indicating that bonds are now days away means next week could get interesting.
But today’s price movements say otherwise.
I’m putting my money on positive developments by next week.

[haveapunt1] 08/5/2024 16:56

my strong guess is the PFS wont be completed until funding is place. For some reason they have been reluctant to issue the PFS for reasons only known to them. The elephant in the room is they cant draw down from RF any further until £25mil is secured.
At the end of the day, the Board are not helping themselves. For over 2 years they have put stupid RNSs to the market and every time dates are missed or goalposts moved. IMO this is a combination of inept UK management by RW et al, and being clueless at running a PLC when understanding the markets. The fiasco of the Q1/e early Q2 PFS is a case in point, when rushing out a mineral statement simply made matters worse - they do not understand the markets. IMO there is no excuse any longer. ISSUE THE PFS and then try better it. Donald tries to defend the Company yet they do not help themselves. I for one will attend the AGM and have the conversation face to face. I am also interested to see the salaries.

[sipptrader88] 08/5/2024 16:20

I think today's mini sell off is just reaction to the delay on PFS....at the end of the day it's nearly 1,000 pages of work....and they need it to be 100%....perhaps they just need e.g. one lab testing method result or delivery of e.g. a second hand crusher/grinder??

They needed to release something to keep their RIs semi-placated?? I honestly expect things to be ok once we start to progress.......23p perhaps more when £25m or so bonds land!!

[seagreen] 08/5/2024 14:47

I got castigated for implying the PFS and possibly the permit will most likely be required prior to a financing by a debt instrument such as a bond

Luv
Pep Guardiola

But if you can hold you should be fine

[greyingsurfer] 08/5/2024 13:21

None of us know what is going on with the finance negotiations, and given the nature of that work we never will, other than an outcome, hopefully before too long. But urging them to "work faster" or similar exhortations is fairly meaningless. Either we trust they are doing what that can to get over line, and the prize if they do is significant, or we feel, as some clearly do that they can't be trusted, aren't pulling their weight and don't justify their salaries. In which case, if you hold the decision is straightforward.

[soulsauce] 08/5/2024 13:08

🤣🤣🤣

[seagreen] 08/5/2024 13:07

DP you are not related to Eric Ten Harg by any chance?

[juju44] 08/5/2024 12:01

These guys cant act quickly , in fact they cant act slowly either . the market knows hence the rush for the exit

[klondykejohn] 08/5/2024 11:43

Sadly, the markets were expecting better news flows than those released.
The Board need to act quickly. They are being paid handsome salaries and shareholders expect much better postings than those that have been released.
It is time that they come good, or hand the reigns over to a new team to take the Company forward to production. Come on guys, get your act together.

[haveapunt1] 08/5/2024 08:38

I’m a realist. Tell me what has been delivered? The PFS (as promised)? No. Financing as promised? No. Huge salaries? Yes. If your content with an interval resource statement to be passed as a PFS loo then happy days. The fact is the board are inept. It’s not “negativity221; it’s reality. Don’t promise the PFS late Q1 / early Q2 (latest April), fail, issue a pointless RNS followed by an IR that’s just as bad. As is being witnessed, the market wants results not continuous broken promises, under delivery (or frankly no delivery). Anyone that is happy with the board, timelines and RNS is mad. Apparently there will be a
Lot of information released to have an open conversation at the AGM? LOL.

FYI now under 15p to buy and under 14 to sell. That says it all

[sportbilly1976] 08/5/2024 08:32

I take it you sold then haveapunt?

so back to negativity on a Board you have zero financial interest in...clearly far too much spare time

[kooba] 07/5/2024 16:39

Only thing with the "positive" of a reserves report ..it probably indicates they are not that close to producing the full PFS report and this has been put out in an attempt to pacify investors and put something out . But why put this out in isolation if PFS is close? Unfortunately no indication given in this rns. One of the company's many brokers seems more upbeat."Phoenix Copper's reserve statement for the Empire open pit in Idaho is an important step forward, according to WH Ireland.With an advanced project in mining-friendly Idaho, Phoenix is now well positioned to benefit from surging demand and strong copper prices, said the broker.A pre-feasibility study is ongoing and WHI expects the numbers to be reported shortly."As an indication of the direction of travel, we remind readers that Phoenix recently announced the advanced purchase of second-hand ball mills."This purchase introduces significant time and cost savings compared to buying new and will enhance the economics of the pre-feasibility study once reported."Shares were 16.5p, down 3% today."https://www.proactiveinvestors.co.uk/companies/news/1046974/phoenix-copper-in-right-place-as-metals-prices-climb-says-broker-1046974.html

[rainyrain] 07/5/2024 14:55

"If the flotation followed by leaching process proves to be commercially viable" well what is the answer? Is it commercially viable or not? This is a business not a science project in a university !

[juju44] 07/5/2024 14:25

Afgter a few years of broken promises , no delivery and general waffle and BS , the market has had enough and only a solid tangible delivery is going to move this . No one trusts these cowboys anymore