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PXC Phoenix Copper Limited

4.45
-0.10 (-2.20%)
Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Copper Limited LSE:PXC London Ordinary Share VGG7060R1139 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -2.20% 4.45 4.40 4.50 4.55 4.45 4.55 4,043,724 12:31:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 0 -1.54M -0.0083 -5.36 8.42M
Phoenix Copper Limited is listed in the Miscellaneous Metal Ores sector of the London Stock Exchange with ticker PXC. The last closing price for Phoenix Copper was 4.55p. Over the last year, Phoenix Copper shares have traded in a share price range of 2.75p to 24.50p.

Phoenix Copper currently has 184,958,967 shares in issue. The market capitalisation of Phoenix Copper is £8.42 million. Phoenix Copper has a price to earnings ratio (PE ratio) of -5.36.

Phoenix Copper Share Discussion Threads

Showing 41326 to 41347 of 41350 messages
Chat Pages: 1654  1653  1652  1651  1650  1649  1648  1647  1646  1645  1644  1643  Older
DateSubjectAuthorDiscuss
17/6/2025
22:43:13
Hi any chance you can post a link for the new page please?
nomadiclord
17/6/2025
22:14:41
I’m no longer a holder I took profit on the spike, I think it’s going to zero.
trader465
17/6/2025
22:02:38
Write to the Nomad. Names on the rns
waterloo01
17/6/2025
14:48:02
Even at 4.5p and dribbling downwards, this shower remain uninvestable IMO.
qazwsxedc69
17/6/2025
13:50:17
Phew results done and chairman’s reporting

“ I am pleased to report that we have signed a Letter of Intent with an accredited US investor to subscribe for the additional $75 million. This subscription, which is subject to the preparation and execution of definitive legal documentation, including the bond subscription letter, will enable us to complete construction and proceed into production at the Empire open-pit mine. We are hopeful that we will be able to commence drawdown on this additional funding later this month or early next.”

So not long now and if so this will rocket and I doubt there will be much liquidity!

cromw3ll
17/6/2025
13:21:11
William - excuse my ignorance, but can you elaborate on the type of bond / equity instrument you think will be used for the new investor?

I had assumed the bond will be the same terms as the one that NIU took and so the new investor gets the same creditor protection as NIU albeit having greater voting rights in any insolvency process by dint of possibly being out for $75m vs $5m. Hopefully all hypothetical as funds will come, mine gets built, output sold, cash comes in and repays bond holders and provides good dividend to equity!

ih_839703
17/6/2025
12:27:57
A five minute google search is all it would have taken to know that you don't want to be taking a credit risk on NIU More likely the board knew that but was a Hail Mary pass
williamcooper104
17/6/2025
12:25:35
The only bonds PXC will be raising is equity with a senior coupon and a liquidation preference In other words the downside of both debt and equity in one instrument
williamcooper104
17/6/2025
12:17:41
If I were a potential new bond investor then I would be alarmed at the huge stake that NIU have in the Company.
The NUI situation needs resolving first.

klondykejohn
17/6/2025
11:06:08
At a high level, the annual accounts told us nothing new. Many of us have doubted NIU buying anymore bonds than their original $5m and this was confirmed with the accounts yesterday. In the scheme of things it is not material but I hadn’t realised that NIU only coughed up $4.75m for the $5m bond - and as we know, they got c.34m shares for doing so. You can insert your own value figure for those - if the US investor does provide the funding, NIU really are smiling. Remember, the $5m bonds attract interest and are repayable at face value in due course. And are secured on the mine assets.

We don’t know what lies behind the breakdown in the NIU funding. More may come out at the AGM and some may still be commercially confidential. Optimist or pessimist, decide yourself!

However, board have clearly learnt from NIU if you read about the proposed structure of the potential new funding. My take on it is that the board and advisors just did not consider the possibility of NIU funding playing out the way it has and haven’t got a clear breach of contract…but neither do Phoenix have the cash to pursue any legal case (at the moment) being pre-revenue. Would be a brave investor to stump up cash to pursue a legal case with all the uncertainties that has (time, cost, outcome) and more prudent to chalk it up to experience however painful, and costly, that lesson.

The bigger prize is getting the mine operational and hopefully the new investor gets signed up and we just look back at the NIU episode as a stumble on the journey.

ih_839703
17/6/2025
08:57:01
Unlucky, unfortunate or stupid?
jasperthemonkeygod
17/6/2025
08:19:02
'...The impairment loss in respect of bond issue expenses arises from the value of
shares issued by the Company to a bondholder, as an arrangement fee, which
were classified as other receivables pending allocation to the net carrying
value of future bonds to be subscribed for. This subscription is no longer
expected to take place...'

echoridge
17/6/2025
08:12:06
That's truly staggering

Yes it's likely finders fees plus 2 or more years of costs written off


If it’s old costs that they kept on their balance sheet then they’ve likely been unable to convince their auditor that there was a realistic chance of getting the mythical copper bond away

That’s the charitable view

Else they really did spend nearly $5m and give away a quarter of the company to get $5m

williamcooper104
17/6/2025
07:45:47
i am missing the news how are they are going on with cener

good relationships, bad, contract fulfillment, legal options and actions taken.

probably i am the only one stupid enough to ask such a simple question.

about what is missing and is the loudest to my ears.

ups and on we go with the equity of the shareholders gifted away for non delivery.

wow

kaos3
17/6/2025
06:29:38
So far they have raised $5m from the bond issue and gave a large slug of equity to that subscriber who then failed to meet the sizeable obligation at all.I note now "Group reports loss of $6.27 million (2023: loss of $1.57 million) after charging an exceptional $4.60 million write-down of bond issue expenses." They have written down $4.6m as bond issue expenses...how have they incurred $4.6m expenses in raising $5m ?Were there big finders fees for bringing NIU in...it seems the company got nothing net in reality.Will there be more bond issue expenses of this scale IF the new investor signs and divi's anything up?
kooba
16/6/2025
17:04:51
To be fair to him he also said funding was a few weeks away well over 2 years ago.
boonboon
16/6/2025
15:49:11
Do you have the name for the new telegram board, I can't find it
greyingsurfer
16/6/2025
15:32:38
Results out. For what it's worth, the chairman has said funding is within the next month. "This subscription, which is subject to the preparation and execution of definitive legal documentation, including the bond subscription letter, will enable us to complete construction and proceed into production at the Empire open-pit mine. We are hopeful that we will be able to commence drawdown on this additional funding later this month or early next."
sithuk
16/6/2025
15:31:09
Results out
jaf1969
16/6/2025
14:58:40
seems the original owner closed it (probably had sold out). A new replacement one is up and running
sportbilly1976
16/6/2025
14:57:33
I hope its not a prelude to anything bad. PXC has been through some bad times, but the Telegram group has been a constant. Weird.
london07
16/6/2025
12:38:57
ah, I thought I'd been kicked off

maybe I have

jasperthemonkeygod
Chat Pages: 1654  1653  1652  1651  1650  1649  1648  1647  1646  1645  1644  1643  Older

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