Certainly would not be surprised if something here ends up in court sorting out what looks like a mess they have got into. Though in theory NIU as the largest creditor with security over assets and also the largest shareholder is in a strong position and could even call a GM and try to force directors out...no doubt if the is a plan B it is Caners not the company's.They have given a lot for very little so far ...they say they are confident NIU are good for the money and obliged under legal agreement, NIU say they remain supportive too, but until the company sees further cash I and it appears the market do not trust just words. |
This really has the smell of a mega dilutive fund raise or potentially given the KYC issues in the current capital structure an administration The difference between the two might be academic |
For sure there's a Plan B - it just didn't necessarily involve this capital structure |
I have complained to the Nomad that a false market around the funding position has happened... that the guidance by the company has not materialised and there needs to be a full clarification of that position irrespective of whatever they believes makes them all permanently inside.Shareholders agreed the issue of a large chunk of shares making the bondholder the largest holder ..with further warrants held. That puts them in a position of power and influence and therefore all dealings especially any change of terms voted on by shareholders needs to be communicated immediately..there is clearly a change of terms given to shareholders as the company has not received $30m within 5 months of the first drawdown let alone meeting the formal timetable they were given and voted upon.Whole thing stinks I'm afraid and they need to get out from under whatever rock they are hiding under and fully explain what is going on. |
Judging by the continued silence of the BoD I would hazard a guess that the company is closer to adopting Plan X, which could be a serious worry. |
You think there is a plan B !? |
well - they can go from plan A which is clearly not working to the plan B i guess |
Copper over 1 year up 12.5% solid performance and a good backdrop to secure funding and move rapidly to production..if you have a low cost near term opportunity.PXC over 1 year down 68% and no one seems to have a clue where they are on funding or when they might be moving to production.Whatever the reason for still being in "close period " ..which is load of tosh anyway...it certainly does not appear that the outcome will be favourable to shareholders judging by the share price performance.Ridiculous situation they have got themselves into and there urgently needs to be a clarification of what is going on and why there is no bond funding forthcoming from the legal agreement approved by shareholders over 5 months ago which is now very overdue. |
where’s the sultan of spin when you need him? |
Bad news so the price is telling us |
A fair bit of selling just before the close including a print at a 5% discount to the prevailing bid...news coming? |
Bumpa i think you are being unfair to betts,at least Hum have managed to recover some gold from their mines.So far things may seem slow at PXC but when the funds arrive i expect this well paid board and army of advisors to deliver a billion dollar company.As RW says in the interview the tunnel into the sulphides is the game changer,rich ore mixed with the ore of the open pit.My only worry here is why after submitting a incomplete plan of operations in 2021 this well paid management team havent bothered to re submit a complete one.GLA DYOR IMHO |
With new candidate installed in to the White House, it should be now a much smoother process for whatever permits they will require to advance the mine. Perhaps this is what they have been waiting for, surely some positive news should land soon, or after the inauguration.GLA!!! |
Exactly
Management who time and time again fail to deliver their promises |
Know very little about HUM but I would say it goes to highlight the importance if a quality full feasibility study!Check out the AISC in the FS compared to reality...ROFLMFAO!! |
At £15m no way is it priced for insolvency - ridiculous statement ffs. That said, couple of long lower tail candles last couple of days, could the Phoenix be looking to base here… |
No JB2. The fortunes of PXC are not linked to HUM. IMHO (like you, I'm allowed to opine) the market will be proven very wrong here. Priced for insolvency atm. An AIM diamond very much in the rough. |
The game is up at HUM
Any read across folks? |
With only one MM showing 7.5 AND one MM showing 7 this is ready to bust a few moves down down deeper and down |
I guess time will tell |
No. RMM was inefficient on many levels, as well as underground. Trying to retrofit ESG and efficiencies can't be easier than in with the bricks and mortar. |
isnt this just going to go the same way as RMM.... |
So you're saying that some pi's are inside and are not selling...not sure that is reassuring or quite the opposite that there is not a level playing field of information across investors.The fact that the share price has fallen sharply on much higher than average volumes unfortunately says far more than supposed large holders not selling...if I were outing a large holding because I found something I don't like wouldn't tend to tell folks before I was out..quite the contrary !Looking at the prints today it was one large motivated seller that dealt round the market ..what was the motivation for being aggressive ?? |
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