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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Phoenix Copper Limited | PXC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.90 | 37.25% | 7.00 | 16:07:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.10 | 5.10 | 8.25 | 7.00 | 5.10 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 18/11/2024 18:34 by andydaf I wish investors here all the best and hope positive news arrives soon.Having done my research i have my doubts whether empire will be mined again by pxc but what do i know.All will become clear in the new year as money becomes short.Perhaps the directors could show a bit of faith and defer thier wages. GLA |
Posted at 14/11/2024 12:50 by london07 And then you have PXC Vice President of Investor Relations saying the following about PXC on AAZ board! Totally flabbergasted, speechless tbh, absolute shot show, just dont know what to say..""My view is that PXC owns a project that is likely to have very significant upside. The question is whether existing shareholders will benefit. That's the challenge. I have never pretended otherwise": donald pond10 Oct '24 - 10:46 - 69484 of 70703 0 2 1 Bumpa, You have made your position clear on PXC. But its the next step in your thinking that makes no sense. If I shared your view that PXC was worthless, how would I be saving investors by telling them that? It would just become worthless a little bit quicker, perhaps. I don't think it is worthless. I think the open pit is a decent, low-risk starter pit. The bigger asset is likely to be in the sulphides below, as has always been the case. The big questions are, as they have always been, can the company fund the starter pit, and how big is the sulphide deposit. We don't know the answer to the latter question, but we do know that it produced 20,000 tonnes of high grade copper in the past, and the copper sulphides stretch for over 5kms and are open at depth and barely explored. As for the funding, that's all out in the open. My view is that PXC owns a project that is likely to have very significant upside. The question is whether existing shareholders will benefit. That's the challenge. I have never pretended otherwise. My aim is to have better informed investors that can understand the project, the risk and the opportunity is better detail so they can make a more informed decision. |
Posted at 13/11/2024 19:34 by kooba Reputation management falls under IR...the reputation here like the share price is taking a beating, another volume backed fall to an all time low by presumably motivated informed sellers is saying there are real problems. I think when the company has spent tens of millions of investor cash and now several million more as debt to move a mine to production and there remains little visibility of where they are with that or indeed whether they have funds available to get it there. They cannot stonewall investors for ever on some idea they are restricted for whatever reason ( and it's difficult to think with the price anything good is being discussed or will happen) they have to free themselves to update one way or the other on whether they have funding to get empire into production and when they anticipate production to start as soon as possible.They have a long list of advisors overseeing a collapse in the price and a complete lack of clarity going to shareholders...shareho |
Posted at 13/11/2024 16:53 by kooba 24th July share price 20.25pPaul de Gruchy, Vice President of Investor Relations of Phoenix Copper, said: "I've enjoyed working with the team at Phoenix Copper and am delighted to be able to contribute further towards the Company's success as we embark on the exciting transition from being an explorer to a producer of copper and other metals. We have a number of developments planned to improve communications with current and potential investors, and I look forward to implementing these in the coming weeks."13 Nov share price 6.85p ( down 66% in less than that 4 months)DP be good to know about the developments planned to improve communications that should have already been implemented and how they are working out.It appears that the company is saying nothing anywhere as the price spirals down ,is this wise? How do you think you have done so far ..a company you knew well that had secured finance and was at an exciting transition point of becoming a producer ..PFS done all hunky dory surely ..do you think the 66% fall since appointment is just down to the malaise in small company's or do you think that it is down to significant unease at the lack of funding being available and the radio silence by the company. Do you think that investors deserve an update ? |
Posted at 29/9/2024 19:31 by tim000 It seems unlikely Caner has personal access to the amount of cash promised to PXC over the next few months, hence the delay - nothing to do with the timing of the PFS. So he might have thought he could flip at least some of his interest quickly, and make a turn. Presumably he has struggled to do so. The reason for Wilkins still being unable to disclose all information could be that he knows Caner has a new prospective investor lined up. Although whether Caner can attract blue chip investors seems unlikely to me. All speculation of course, but Caner’s actions aren’t credible unless he has new investors lined up. |
Posted at 26/9/2024 20:17 by zb27 CHAR, HARL, BIDSJust some of the companies whereby a great story has been given by the leadership and then total failure, Char is 1.4p from 20p few years back and the other 2 have gone into administration. The ineptitude of this BOD will be there downfall, just look at the last 2 years, culminating in thr fiasco today. Many long term investors folded today because of the sheer failure of the board and investor relations, trust is gone forever. |
Posted at 26/9/2024 12:50 by zb27 Agree, withholding of that info is shocking, not sure how they can keep that to themselves upto now, hoodwinked by the company and Investors Relations like we recieved it. Surely it's breaking all kinds of laws.Huge credibility issue, issue about bond funding, if NIU don't pay, then legal action, it's a total mess. IMO They have sat on this, hoping and praying NIU will pay up, they haven't and it's all come out in the interims wash. How not to run a company, just look here. Many investors have lost alot of money here today/last few months/years. |
Posted at 04/9/2024 07:51 by boonboon Very professional of the vice president of investor relations to call concerned investors moronic. |
Posted at 16/5/2024 12:01 by donald pond Since Phoenix Copper announced that it has received subscriptions for $80m of copper-linked bonds, I have had a large number of investors contact me asking for further background information. I’ve attempted to identify the most common questions and to answer them as follow:1) How much do you know about the investor? The board have been speaking to the bond investor over a period of 18 months. His background is as an entrepreneur, which is why he is willing to invest in the Empire project without having a bankable feasibility study. He sees the opportunity and wants to be a strategic, long term investor in Phoenix, and to help the company achieve a substantially higher market cap. The company can also confirm that all compliance, anti-money laundering and client due diligence checks that are required by regulation imposed on multiple entities have been completed. The London market is among the most heavily regulated in the world, and the investor has met all of the requirements. Some investors have found one or two “colourfulR The board are confident that the investor is aligned with the company’s goals and are delighted to have secured the financing that will enable the Empire mine to be brought into production. 2) What is the position of Exgen? Exgen own 20% of Konnex, the holding company of the Empire site. Phoenix own the remaining 80%. Under the terms of an agreement between the parties, each is required to fund the development of the mine in proportion to their shareholding. There are certain formalities that need to be completed before a “call” can be made on Exgen to provide their share of the funding. Phoenix is working on the assumption that Exgen will provide their share of the funding, but if they cannot, there is a mechanism for their share to be diluted to reflect the relative contributions made to Konnex. Importantly, the $80m that has been raised has been judged to be sufficient to bring the mine into production, and includes both a contingency and an allowance for making interest payments on the bonds. 3) When will we get an economic study for the mine? Following the AGM, and the first drawdown of bonds, the company expects to purchase a number of key items of equipment. It is anticipated that these, the majority of which have been identified within a reasonable distance of the mine, will be bought at a significant discount to the as new price. In the Annual Report we mentioned the laboratory equipment, ball mills and disk filtration circuit for filtration and dewatering of process tails that have already been acquired. These key purchases were all made at a fraction of the new price. When drafting a PFS, the regulations demand that equipment to be acquired is priced at cost price plus 25% contingency. As we will only be producing one PFS, it is important that it accurately reflects the actual costs of the project. The Annual report set out the assumption that the cost of mining would be a little under $21 per tonne, and last week we published our first reserves statement. These are the result of extensive work carried out by the company and are key pieces of information that will form a key part of the process to calculate the economics of the Empire open pit. 4) How will we pay interest on the bonds? Interest on the bonds will eventually be paid from the production from the mine. In the period before production, the company will hold back a portion of the funds advanced and place them in an escrow account. It is important to highlight once again that the company is confident that it will be able to bring the mine into production and to service the coupon payable under the bonds from the $80m subscription. Interest is payable at a rate that is the higher of either 8.5% or the amount, on a sliding scale linked to the price of copper, up to 20%. At present, we are very close to the tipping point where the interest rate would be linked to the copper price. However, the benefit of any increase in the copper price will feed into the economics of the project. As a rough guide, once in production the company will benefit from 80-90% of the upside in the copper price, with the balance going to increases in interest payable. |
Posted at 19/1/2024 09:57 by haveapunt1 Also, what level of interest from investors? Another area the company court easily shed light on through an investor meet company or similar. There is interest and there is serious interest, yet investors are left second guessing.Economic model 99.5% complete - but it’s going to take another 3-4 months to finish that 0.5% when the commercial metrics where issues over a year ago and openly published though PR? Hopefully you see my point re the company making it up as they go along. They have had months to finish the economic plan, and it’s naive not to think doing this would give them a huge carrot to dangle in front of potential investors yet they seem to have gone to the bond market with “yeah mate we think it’s about $800 revenue”. Naive. The commercial viability should have been totally nailed before even looking at investors parting with $80mil on a company with assests to support this of less the one third. As I say, it’s either utter naivety, or incompetence - if I am wrong I apologise but this is where the company need to help investors to understand! I’d also love to question them on their plans for cost reductions as a board of directors to show they are with shareholders rather than simply raising funds to self fund their salaries |
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