I think he should have added “everything is falling apart for Phoenix” |
The RiverFort loan is already having to be repaid in monthly tranches..as well as deriving the 15% interest rate, as announced in march ..the existing loan just over $2m was treated as first drawdown...no other drawdowns can be made until they have received $25m from the copper bonds..chance would be a fine thing."The First Drawdown and any further drawdowns have a 90-day repayment holiday and are then repayable in equal monthly instalments over the following 15 months."They will also be in technical default on the Copper Bonds if they failed to meet interest payments irrespective of NIU failing to meet its funding obligation..but that would likely be decided in court."Marcus Edwards-Jones, executive chairman, added that everything is falling into place for Phoenix."May 2024hTTps://www.proactiveinvestors.co.uk/companies/news/1047714/phoenix-copper-raises-us-80m-in-bond-finance-as-stars-align-1047714.html |
Richard Wilkins is also on the board of GRL so linked to the crooked goings on there too. Here’s a couple of links to where I mentioned this before
Why did they buy ball mills when they have no ore to grind? |
sportbilly197618 Dec '24 - 09:41 - 12324 of 12331
0 2 0
"...imagine if..."
...and then insert any comment to suit your current trade position / Company opinion
lol - yeah. I literally then added my company opinion (it's a comments board, right?)
Only the gullible are still here. I was gullible too for waaaaay too long and took a beating. No position anymore, and I must say that despite the huge loss - getting out when I did and at least preserving SOMETHING from this horror show has made me feel a whole lot better. The sooner others do the same the better IMO, though each to their own.
How anyone can stay invested here despite the insane numbers of red flags, and watch on while DP spouts the stuff he does is utterly beyond me. |
Ball Mills which are sitting idle, because we can't progress with the project until we get more funding. |
it all goes to Richard Wilkins, he makes 10 million million dollars a year |
Where is all the money going? The NIU $5m, the RiverFort $2m and I think they did a placing. That seems a hell of a lot of cash burn this year |
They drew $5m from NIU, the deal has stalled and the $5m has “gone”. How are shareholders going repay it? I think huge dilution is coming soon, or complete failure if the NIU deal falls through |
Technically we do owe them $5million. We just don't have to repay for quite a few years. |
They don't owe NIU $5m trader
you could be less transparent |
How much cash has disappeared this year? I think they owe RiverFort $2m and NIU $5m?
If NIU pull out, PXC will have $7m debt at presumably 10-15% interest and no income to pay it.
£10m market cap $7m debt |
"...imagine if..."
...and then insert any comment to suit your current trade position / Company opinion |
Imagine if there was a placing......could there really be anyone gullible enough left to participate? |
No I don’t know for certain but they only have enough cash to last them to Q2 |
70p to 5p is a 92% loss, anyone buying at 6p will lose 10% instantly on the spread, and the possibly of another 50% loss over the next few months.
As with all shares the bottom is always zero |
Do you know that for certain? |
Why would anyone buy when there’s a discounted placing on the horizon? |
Currently NT to buy - so that 920k from yesterday has been absorbed by someone |
I can't think of any? |
I think you make some salient points there trader.This is the third Company this year where the share price has collapsed, costing me a packet.. I now try and steer clear of get rich quick enterprises.
There are however a lot of genuine Companies on AIM |
 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. |
The fat salaries will cost $800k, what’s happened to the other $4.2m?
Someone mentioned there were similarities here with HZM; you can add RMM, GRL, and HUM to those
Too many crooked directors on AIM |
Looking very like a sell, but remember someone bought them. |
did someone dump nearly a million shares today.not sure if it is a buy or a sell, but sells are in the ascendancy today |
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