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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
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 5.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 17/12/2024 18:47 by trader465 Crooked company directors aiming to exploit a company and its shareholders often target the Alternative Investment Market (AIM) instead of the Main Market for several reasons:1. Lighter Regulatory Framework • The AIM operates under a more relaxed set of rules compared to the Main Market, which is governed by the UK Listing Authority’s Premium Listing Standards. • AIM companies face fewer requirements for transparency, corporate governance, and financial disclosures, making it easier for dishonest directors to hide questionable activities. 2. Lower Initial and Ongoing Costs • Listing on AIM is cheaper and faster than on the Main Market. • This makes AIM attractive to smaller companies, but it also appeals to directors with bad intentions, as they can avoid the higher costs of Main Market compliance while still raising funds. 3. Weaker Oversight • AIM-listed companies are not required to meet the same strict standards for audits, independent board members, or shareholder rights. • This lack of scrutiny allows unscrupulous directors to manipulate financial statements or pursue self-serving deals more easily. 4. Easier Access to Capital • AIM offers relatively easy access to investors, especially retail investors who might not have the expertise to identify red flags. • Unscrupulous directors can use this to raise significant funds while planning to misuse or misappropriate them. 5. Limited Investor Protections • AIM provides fewer protections for shareholders compared to the Main Market, leaving investors more vulnerable to mismanagement or fraud. • For example, AIM companies can issue shares or undertake reverse takeovers with less shareholder consultation, facilitating dilution or questionable transactions. 6. Higher Risk Appetite • AIM is marketed as a platform for growth-oriented, higher-risk companies, which attracts speculative investors who may overlook governance issues. • Directors can exploit this “high risk, high reward” narrative to distract from their fraudulent activities. In summary, the AIM’s reduced regulatory burden and oversight, combined with its focus on smaller, higher-risk companies, make it an easier and more fertile ground for crooked directors looking to exploit both the company and its shareholders. |
Posted at 06/12/2024 15:17 by london07 Is this a new function on ADVFN? Just got this summary when searching for the share chat here...Discussion Insights Recent investor discussions surrounding Phoenix Copper Limited (PXC) have revealed a concerning sentiment regarding the company's future, particularly in terms of funding and operational viability. Notably, several investors expressed skepticism about the company's ability to secure necessary funding without resorting to dilutive actions or additional debt, with comments highlighting that "funded, it survives. No funds and it goes to the wall," indicating a bifurcation in perspectives regarding the impending financial situation. The company appears to be at a pivotal crossroads, with opinions suggesting that Spring 2024 will be a defining moment—suggest Financial discussions have pointed to an underlying crisis, with statements such as "unless there’s a material change in their cash balances, they won’t even make it to 2026," reflecting the urgency of their cash position. Particularly concerning is the sentiment around potential funding sources, like NIU, with one investor questioning the feasibility of lending money for an unpermitted mine, indicating deep skepticism about the company's operational plans. Investors echoed the need for clarity and transparency from the Board of Directors, with some even labeling the company as a "basket case," underscoring a pervasive lack of confidence in PXC's leadership and strategy. Overall, investor discourse has painted a bleak picture, with strong calls for responsible management practices and urgent funding solutions. Several investors also highlighted the disconnect between the company's presented optimism and the harsh realities of its operational challenges. A resonant quote from the discussions captures this sentiment: "PXC have promised much but in my opinion delivered very little." Investors seem to be on high alert, awaiting any signal that could justify their ongoing stake in what many currently deem a precarious investment. |
Posted at 28/11/2024 07:32 by kooba 24th JulyPaul 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."5 months later.... |
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 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 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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