You are talking absolute rubbish. |
It's not at all clear that's what it says. Work will now all be funded via PXC, rather than a separate source for Exgens share, plus a bankable feasibility study and minimum annual spends no longer needed. It's doesn't say anything about where PXC will source the cash to loan to exgen |
Dorset,
Have to agree - is Martin Hughes loaning pxc the funds here to keep things going in the interim? |
On first read my immediate thoughts are that it confirms the relationship with NIU has totally broken down.
PXC asked for the next tranch of funds, some of which would no doubt be used to pay this interest etc but was not forthcoming. Now it appears they have persuaded a person to loan them the money until it may be repaid in the future by others.
This confirms NIU are not putting any more funds in imo. |
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
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"...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 |
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