Phoenix Copper Share Discussion Threads

[investorman33] 27/5/2023 10:55

TTTC

The financiers of 50m/80m of bonds will be more concerned at getting a good return on their money that 'screwing the company' which gives them little or no financial benefit.

And the bond money would repay the Riverfort loan amyway.

Lengthy discussions on the subject on Telegram group, the upshot being that even if the bond money didn't arrive before Riverfort loan due (1) the loan can be repaid out of PXC current funds, but whilst that does PXC could repay Riverfort and admin costs until into 2024, it would leave PXC short to carry out its planned development or (2) Get an extension of the loan for say 9 months or indeed refinance the loan with Riverfort or another mine finance house - RW has a good credit history of borrowing small sums and repaying them over last 20 odd years, so no issue for him to do that.

Overall Riverfort should be no no big deal as it can be repaid or refinanced.

[warm norm] 26/5/2023 21:41

You seem more turkey (and a Christmas voter) than chicken, but a regular choker of it?
The Riverfort facility will be a minor irrelevancy if the 80 arrives.

[klondykejohn] 26/5/2023 17:36

I agree TTTC.
I answered that question with a no.
I don`t see anything wrong nor demeaning about my answer.

[greyingsurfer] 26/5/2023 14:25

The loan is extendible for another 9 months

[this tea tastes of chicken] 26/5/2023 14:20

Klondy
It’s a genuine question from a shareholder. Surely we those providing the 80m know the Board have a deadline looming and can act with this in mind?

[pantsonfire] 26/5/2023 10:24

Did anyone else note on page 15 of the Annual Report, that no director has disposed of a single share in 2022, and all but 1 have increased their holdings. Does that sound like a board nervous about the possible success of the company? I see this as resounding confidence that the company is on track for success the way the directors have always claimed.

[klondykejohn] 26/5/2023 08:44

Positive start to todays trading. Can it push up to and beyond 30p?

[this tea tastes of chicken] 26/5/2023 08:27

Cant the counterparties to the Bonds screw the company over knowing the Riverfort deadline is looming

[retirementplan] 26/5/2023 07:41

Fair chance of leaving the 20s today. Once we do, I don't think we will see them again. Full $80m bonds likely. RW mentioned on Telegram yesterday that ATS news is likely (not a promise!) before AGM on 8th June. Curved ball news widely speculated on once bonds away. Holding my shares very tightly, as will many others. Effective free float is small = moves fast (in both directions!).

[observer007] 26/5/2023 07:05

If they get the bonds away the share price will rocket, the clue is in the precise details given yesterday about the bond, it looks like news is imminent.

The time to buy sub 30p is now, once those bonds are announced the shares could easily double from current levels, some folk are talking about £1 a share even.

[broken_arrow1] 25/5/2023 21:25

One more push up and the breakout to 45p region looks on, chart tells you all you need to know.

[investingisnteasy] 25/5/2023 20:11

Just for clarity, Rob (Marbro5) is a resident of the Mackay area, and part of a renegade band of misfits attempting to stop the mine restarting.

No doubt he’ll be soon gluing himself to the BLM’s office in protest, along with the rest of the resistance.

We can wait, Rob. It will happen soon enough.

[retirementplan] 25/5/2023 19:49

Oh,Marbo5. I don't really believe that anyone that has done the least amount of research would listen to your nonsense. Best totally ignored. Why would you bother? No reply required!

[marbro5] 25/5/2023 19:38

The current state of the permit application is simply fact that is very easily verified by even the most inept and challenged such as yourself.

[marbro5] 25/5/2023 18:57

And alas....STILL no permit... to date, no complete application has been received by the regulatory authorities.... once received, the process takes years to finalize.. what a shame...

[ptolemy] 25/5/2023 16:27

From AJBell:

"Phoenix Copper Ltd - base and precious metals explorer in US state of Idaho - Pretax loss widens to $1.6 million in 2022 from $969,250 in 2021. Records no revenue, unchanged from the previous year. Phoenix Copper expects market volatility to remain until the war in Ukraine reaches a conclusion.

Chief Executive Officer Ryan McDermott says: ‘Market conditions and pricing will continue to fluctuate to some extent over the next year. However, the timing of stabilising trends in the manufacturing and supply sectors, as well as elevated copper and gold prices, should complement our projects as we complete the engineering and environmental permitting processes.

‘Our team of engineers, geoscientists, and industry consultants are poised to move the Empire Mine into production and to properly explore the Navarre Creek, Red Star, and the Empire sulphides projects.’"

And from Zak Mir:

"Phoenix Copper (PXC), the USA-focused base and precious metals emerging producer and exploration company, announced its audited results for the year ended 31 December 2022. The company said it intends to fund first production at the Empire open pit with minimum additional dilution to shareholders. With that in mind, it is in the process of completing an $80 million corporate copper bond issue, which will pay a floating rate linked to the higher of a copper price coupon or an interest rate coupon, but subject to a minimum coupon of 8.5% per annum.

Comment: Shareholders of PXC have presumably been sitting on the edge of their seats waiting on news regarding the $80m corporate copper bond issue. The key here is the phrase “minimal dilution, something which if achieved would be quite a coup."

[seagreen] 25/5/2023 16:13

Thanks, rejoined 8-)

[boonboon] 25/5/2023 11:03

Events after the reporting date The Company has launched an $80 million corporate copper bond issue which is in the process of being placed. The bonds will pay a floating rate coupon subject to a minimum of 8.5% per annum and a maximum of 20%. The floating rate coupon will be calculated as to the higher of a copper price coupon linked to the copper price on the London Metal Exchange, or an interest rate coupon linked to the US Federal Discount Rate. The bonds will be secured on the Group's patented mining claims, listed on The International Stock Exchange in the Channel Islands, and will have a ten year life with bondholder option to request redemption at nominal value after six years and the Company's option to offer redemption at a 10% premium to nominal value after five years. M&G Trustee Company will act as Security Trustee and Escrow Agent, and The Bank of New York Mellon will act as Custodian and Transfer, Paying and Settlement Agent

[seagreen] 25/5/2023 10:13

There again I guess Marcus could always manage his own treasury function via interest rate swaps/derivatives etc to put his own cap in. (if interest rates started to fall... Smart that young Chairman)

What did we used to call it cuffs and collars

(No that was a James Bond line editor)

I mean caps and floors = colllars

[seagreen] 25/5/2023 09:40

DonaldIf it is not price sensitive info can you adviseIs there any option to redeem the bonds earlier?Is there any cap on the maximum interest rate as there is a minimum floor? Hope all well

[donald pond] 25/5/2023 09:14

From CFO todayThe auditors require 18 months cash in the bank. Effectively to end 2024.We can repay Riverfort and cover overheads to end 2024 with the cash we have. But there would be very little operational activity. We need the bond financing to realise our full plans.The material uncertainty, which is fairly standard and has been included in our audit opinions before, simply reflects that fact. Without further finance it is uncertain that the company can operate as it wishes for another 18 months. Yes we can repay RT and cover overheads, but obviously we are planning to do much more than that

[igbertsponk] 25/5/2023 09:11

You forgot the Riverfort loan....

[qs99] 25/5/2023 09:10

Looks positive, just need that $80m over-subscribed would be nice!