Well done on your short bumpa |
Valuation is still way over the top. But they need to protect the share price Because now the business IS the share price
You can forget any mining aspirations. |
Well that is me out. What an absolute farce this has been. Mgt are a shambles.
GL remaining holders. |
He is a known CTake a look at the devastation in several listed companies in Europe in his wake. He seems to do very well but the shareholders in companies he becomes involved with not so much from what i read.https://en.wikipedia.org/wiki/Cevdet_CanerIn June 2023, the Public Prosecutor's Office in Frankfurt am Main and the German Federal Criminal Police Office searched offices of Adler Real Estate on suspicion of false accounting, market manipulation and embezzlement. Caner's offices in London and Monaco were also searched.What due diligence?? |
A to B to C
i can not decide which letter mr Caner is |
I know..but still to leave that out there on the second tranche knowing that the funds were not forthcoming is extremely questionable..there was every reason for an investor to presume those funds were delivered under the terms of the bond issue. The bond financier refusing to release funds is a significant event and should have been announced. |
hence i started it all with challenging the use of words - funding sorted ... as i knew it was 5 only - confirmed |
We went with someone who was probably last resort,and with a dodgy reputation, as nobody else was willing to invest.Looks like it's coming back to bite us in the ass. |
Kooba - I said at the time, the wording was iffy - “they instructed BNYM to issue the bonds” etc BUT they never actually confirmed receipt of any proceeds. |
maybe pxc is negotiating with mr Caner that they will be his M and A viechle. they will take on an african mine. rumors and hints. who knows. i have full trust in our bod tech profiecency. they should be empowered further with mr Caners cash. multi poly ore extraction pxc path is a proof to me. |
Bumpa33 i am a clearly a cautious investor and at times quite cynical having seen much over many years of being in markets i am shocked at this development even though there was discussion as to the release of the $20m. They left a clear impression in the market for months that the second tranche was done.1st July"The Company is also pleased to confirm that it has instructed BNYM to issue the second tranche of US$5 million Bonds to NIU Invest in accordance with the previously announced drawdown schedule, via delivery vs payment." |
The clues were always there ... 1) An AIM Company 2) A CEO standing net to a hole in the ground with a shovel and a promise |
Kooba - I think a lot of people are gonna be in denial this morning. |
london ... where are you ... i am missing you and your contributions .... that enlighten and clear fog in my head |
Think we now know why they have been silent ..they realise what they have done and don't know how to explain that they are now held hostage ( sausage?) to Mr Caner. They cannot progress anything without his go ahead..who is running the company now?? |
 "During the Period the Company received an initial subscription for $80 million of Bonds from NIU Invest, $5 million of which were drawn down. Despite instructing BNYM to issue the second tranche of bonds totalling $5 million in early July, these bonds were not drawn down due to ongoing discussions with NIU Invest regarding the Company's updated economic model, prepared in association with the Company's PFS.Following the publication of the PFS on 19 September 2024, the Company has recommenced discussions with NIU Invest regarding the Company's cash flow requirements of the PFS's economic model, and a revised drawdown schedule for future tranches of copper bonds. Further draw downs will be announced as appropriate."Damn they have only got the $5m out of NIU, Bumpa33 you were right...i think they were very disingenuous with the announcement saying they had authorised the issue of second tranche ...and it didnt happen ! So NIU got the bulk of the equity kicker and now want to renegotiate terms of drawdown it seems. NIU now hold all the cards and effectively run the company as they control the finance..they clearly do not know when they will be getting further money.This also prevents any further draw on the riverport facility. |
Anyone who believes this bunch after this latest kick in the teeth needs their head examining… |
funding sorted btw ....
they say
and not many words used about getting rid of the not death spiral financing.... when talking about funding and use of the 5 mil as far as i am aware. so why not take more cash and pay off that expensive debt with huge risk associated with it
another fiction for the novel ... shark loan period .... to be used |
Yes and negotiations for the rest. Surely the draw down terms should have been clearly defined in the initial agreement.As it stands we've given a huge chunk of the company away and security over the mine for a paltry $5million. |
it’s a fugazi. Always has been. |
so interesting this pxc saga ... i have a strong feeling it might be a story basis to be used in a /my/ novel. many important elements to be a good magnet are here
- liquid boy lunches
- an old mine
- colorfull monaco based turk with austrian passport saviour
- cult like following psychosis
- active opinion management
etc
love it |
Results out.
And confirmation - ONLY $5m bond money received so far.
Read it and weep. |
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