Phoenix Copper Share Discussion Threads

[zaphod99] 29/4/2020 10:05

AGM via webinar tomorrow.

To access the webinar platform those wishing to attend should register at:

[investorman33] 28/4/2020 16:31

Great news that drilling the 20 holes to increase the resource at Red Star began yesterday.

Nice clear timetable in the RNS with a development decision in Q3 timetabled, and news flow before then on the drill hole results.

Given they are putting the drill holes in the vein that was revealed last year, there shouldn't be too much risk that all, or the vast majority, of the drill holes should produce decent results. Only real uncertainty is probably how good will the results be - not whether they will be good !

What's not to like !

[deuchar] 28/4/2020 16:08

Thanks Pants Im in the same boat I've always liked the managment

[pantsonfire] 28/4/2020 16:01

Yes, a 10 bagger, plus, plus. When we raise the finance for the Red Star mine, we will be on course for production to start before end-2021. This should start to pay-back immediately on the loan we made to Konnex (our 100% owned company which operates the mine), and which should pay us back on the debt they have accumulated from us, in the way of dividend, I believe. That way we will receive revenue as well as an increase in asset value. Maybe we'll hear more on this at the AGM? I'm really interested to hear of any additional results they may have, plus the precious metals, of which gold is soaring now.
I first invested at IPO (40p), and I have a memory of being told then that this had the potential to be a 10 bagger. Since then the exploration work has proved the opportunity to be much bigger than expected, and they've increased the stake area by almost a factor of 10. It strikes me that we'll be getting new information on a regular basis now, as the exploration and finance results come in, so we should see the share move up continuously. I'll be opening the champagne when we reach my first invested 40p, which I don't think is far off!

[dave4545] 28/4/2020 15:45

16p paid wow

:-))

Nothing offered online at 15p now

[deuchar] 28/4/2020 15:29

Thanks pants a great summary are talking a 10 bagger from here?

[goldrush] 28/4/2020 11:19

pants

An excellent summary which I totally endorse.

[pantsonfire] 28/4/2020 10:57

Dave, I could not agree more. At last the share price is on its way up.
But I think it worth reminding ourselves of the role of Red Star in the development of the Empire Mining Project, which is Phoenix, and why I genuinely believe Phoenix could become a 10 bagger, and even much more, and to understand that we need to remind ourselves of what we have, and how the company are planning this venture.
Phoenix started off by taking over a previous (under) exploited mine, closed down in 1942 for war manpower reasons. Aside some near surface drilling, no modern exploration had been carried out on the property or on the surrounding mineralised area since that time. Phoenix completed their IPO in 2017, which provided the funds for an initial drilling campaign to explore the area. The initial focus was to develop a low cost open pit heap leach copper operation. This exploration work showed that the mineralisations were far larger than anticipated, so they increased their stake from 3.3 up to 23.1 sq kms. This included the Navarre Creek property, some 6.5 kilometres west of Empire, which has potential for precious metal discoveries, particularly gold.
In the drilling programmes, they located Red Star, a vein which returned assays of high-grade lead and silver sulphides including intercepts of 20% lead and 39.4 ounces of silver per tonne. There is some speculation that there may be more parallel veins awaiting discovery.
With the price of copper dropping, focus for early production switched from Empire to Red Star, with lower capex and an even better return. The exploitation of the Red Star open pit “starter mine” is key to the overall project. The exploration presently under way is fully funded, and we expect the company to be able to move towards project type finance in the next phases, thereby minimising or even eliminating dilution. The project has impressive economics and which puts the company into cash flow from end 2021, and is planned to provide the cash flow to explore for more extensive mineralisation in the deeper sulphide ore body and adjacent land packages plus 6 kms of gold strike at Navarre, plus, plus.
The consultant geologist commented in his report “the potential mineralised system has been less than 1% exploited and explored. Indeed, for all intents and purposes, this northern part of the system remains unexplored with indications of substantial ore potential within medium to high grade polymetallic base & precious metal systems offering significant collective potential tonnage.”
And this is why I believe Red Star is just the tip of the iceberg, and this project could convert little minor Phoenix into a world scale miner.
The above is information taken from published documents, and my words are a personal opinion, and not offered as advice in any way.

[dave4545] 28/4/2020 09:37

Boom lol

Never thought my 11.8p stock would be in profit so quick when it was 5p bid just over a week ago

[goldrush] 27/4/2020 16:01

Level 3 looking stronger....3 on Bid @11p vs 1 on Offer @13p.....

[goldrush] 27/4/2020 15:20

zaphod99

Well spotted !! and right on the money.....IMHO

[zaphod99] 27/4/2020 11:40

Interesting to note that TSX and OTCQX-listed Canadian miner First Cobalt has been aggressively increasing it's land position on the Idaho cobalt belt.

First Cobalt Increases U.S. Land Position by 50%

TORONTO, ON — (April 15, 2020) – First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) today announced that it increased the size of its Idaho cobalt land position by 50%. The expanded property contains the Iron Creek cobalt-copper deposit, the Ruby target and several other surface exposures of cobalt-copper mineralization. The Iron Creek Project is one of the few primary cobalt deposits in America and remains open along strike and down-dip."

Phoenix's Redcastle cobalt prospect is a continuation of First Cobalt's Iron Creek cobalt vein.

Any moves by First Cobalt, or anyone else, on the Redcastle prospect could probably justify Phoenix's current £6m market cap alone with everything else thrown in for free!

[goldrush] 27/4/2020 09:00

Morning

Buyers quietly picking up a few....

[aussiebeach] 25/4/2020 13:32

Very encouraging week indeed !

[goldrush] 25/4/2020 12:58

Well that was a bit better week !!

Some drilling results probably are only a few weeks away and should be good. That hopefully should give us the momentum to get past the 15p funding price IMHO.

20p would give us a market cap of GBP 10 million, which would not be very demanding, if our exploratory drilling expands our silver resource as expected, the mine will get built pronto and lead to a further revaluation of the company.

[aussiebeach] 24/4/2020 13:17

IG want 13p for 50k Dave.

If you can get any at 11p your doing well.

[dave4545] 24/4/2020 13:13

I can buy at 11p chaps !

mid price

[aussiebeach] 24/4/2020 13:11

Only £3k available at 12p then higher.

[wealth_creator] 24/4/2020 13:05

Nothing better than a good old fashioned market maker squeeze.

Listed at 40p now 12p to buy.

You decide.

[dave4545] 24/4/2020 12:23

I got some at 5.9p last week but I also paid 11.8p first entry price.

Somebody sold around 200k for 4.5p a day before new tax year so you presume they were banking the loss otherwise it was a crazy low price to sell at.

Nice to see normal service resume and offer still 4p below recent placing price

[thecoyone] 24/4/2020 12:22

Cancelled my limit order at 10p reset at 11p and still will not fill, they do not want to allow anyone in at current levels it would seem.

Good luck if your broker can execute.

[aussiebeach] 24/4/2020 11:51

IG have £3k of shares sitting there at 10p then full offer of 11p, large premium of 12.25p for 100k

True free float is probably less than 5m shares, well poised for a major move.

[zaphod99] 24/4/2020 11:44

So what stands Phoenix apart from it's peer group of miners?Located in the safest, lowest risk, most mining friendly jurisdiction in the world as per Mining Journal's annual risk assessment survey.Straightforward, fast-track path to production, low capex, no licencing issues expected, minimal dilution, experienced team who've done it all before and who've brought mines into production in far riskier locations than Idaho.Serious backing by wealthy high net worth individuals.They know they're sitting on a massive orebody of both base and precious metals.The 2 early projects i.e. Red Star and the Empire open pit projects are simply the easiest quick win, low capex routes to some seriously impressive cashflow to allow the more serious stuff below to be explored, proven and exploited, much of it on patented land.Less than 1% explored so far.US produced cobalt becoming increasingly attractive at a time when the Democratic Republic of the Congo which produces 70% of the world's cobalt, plays hardball and raises taxes and royalties for foreign miners.Phoenix have 2 cobalt prospects in Idaho.Massively undervalued but hopefully not for much longer.

[aussiebeach] 24/4/2020 11:14

thecoyone

Doubt you will get filled at 10p, IG want 11p for just £800 of shares.

Looks like the market makers are in trouble here, the unexpected demand has them on the back foot.

This will be above 10p by end of day, next week could even be 15p+, there is no stock.

[observer007] 24/4/2020 09:27

Buyers returning, great value proposition in my book, only £4.5m market valuation - $2m in cash, recently raised at 15p a share.

Very tight float, 52m shares issued.

Dropped from 17p-18p on exceptionally low volume.