Phoenix Copper Share Discussion Threads

[sipptrader88] 24/3/2023 14:59

WE are a POLYMETAL potential producerToday 14:58
400 x fold increase in metal needed!

[volsung] 24/3/2023 14:16

Worth a small punt at this level

[sipptrader88] 24/3/2023 14:09

the <2% warrant dilution is an option...when we're in the 40p++ range and insufficient to stem any rise at that stage....and will bring in funds potentially......so no big deal.

We're only in the same position that what we were yesterday, last week, last month, last year........so that's why I've bought in more (+40k) to reduce my average....to get to blue again quicker....but have held back on a significant further investment as per A.N Other's view!

It's easy to get carried away with one's belief in PXC...but it's the market ("ask the audience") that forms the trend higher or lower!

GLA

[klondykejohn] 24/3/2023 13:13

Part of the loan agreement from RGO gives them a warrant of 2m shares priced at 42p. valid for 3 years.
Suggests to me that they have confidence in the shares going well past that price, or they would have pushed for a much lower figure.
No doubt they have done their homework and concluded that the future looks bright for PXC.

[sipptrader88] 24/3/2023 12:19

The BODs' ambition is to (and they feel they're capable of) getting PXC (and spin off) to a market cap of £1bn.

Two years ago this target would have made you a 12x bagger on your investment.....a few weeks ago 22x bagger....but today a 40 x bagger.......it just get's better...lol!

I'm weak and just convinced myself to add! lol. Just thinking about cash, inflation, and stuff! lol
so a temporary "buy" from me but a "hold" really!
GLA

[williamcooper104] 24/3/2023 11:34

I've not seen anything to suggest there's anything dodgy though; bad management, or rather bad financial management isn't criminal I think shareholder losses are honest losses

[orhlsw7] 24/3/2023 11:21

At some point management should be held accountable for their mismanagement by shareholders do you not think. I know that a substantial shareholder tried to get that going years ago already. Maybe this might happen again

[blackhorse23] 24/3/2023 11:14

Out from here & bought GNC

[williamcooper104] 24/3/2023 11:14

Still on my watchlist for the placing (though possible Riverfort coverts and then provides more money and end up with most of the company) I'd like to be a Riverfort LP; it's clear who's the mug at this poker table

[williamcooper104] 24/3/2023 11:12

More likely greed Not wanting to dilute their own equity; that and over promising on not ever having to raise equity again (as if a junior miner/explorer can ever make that statement) - that and the general slowness in raising debt finance was a huge red flag for me and why I got out at only a c20 something percent loss - and from memory at 30p When the share price was soaring they could have raised equity at this price Now if they do a placing it will be at pennies So it's all on getting the magic copper bonds away in probably the worst funding environment since the credit crunch

[orhlsw7] 24/3/2023 11:05

Back in the teens now. Unreliable bunch of alcoholic inept toe rags!

[williamcooper104] 24/3/2023 10:54

It's an AIM small cap miner with funding problems Of course it'll tank; it would have tanked without DB, but of course the whole general banking/funding malaise doesn't help in raising funding Can't be any surprises on the sp

[sipptrader88] 24/3/2023 10:50

I would have thought they would be in a closed period...what with the audit of year end results etc. but I don't know!
Maybe they have enough shares already? maybe they don't draw enough in salary to afford shares? I don't know!

But surely our share price has been hit a bit hard.......and even worse today than Deutsche Bank...surely we don't deserve that!

GLA

[sirshagalot] 24/3/2023 10:50

Never catch a falling knife it can cut your fingers off.

[qs99] 24/3/2023 10:44

If management are so sure, they are not in a close period, why are they not hoovering up shares at the moment?

[sipptrader88] 24/3/2023 10:21

two things to smile about.....Today 10:20
....for me Gold at £1,637 easily offsets any equities (like my PXC) down today.

.....Navarre Creek could be the "real gem" in PXC's portfolio (medium term at least...before Deeper Sulphides explo at Phoenix/Red Star etc area). Navarre Creek could be a stand alone spin off from PXC!!! And it's GOLD! and we're exploring here this year!

??? GLA!

[orhlsw7] 24/3/2023 09:38

They were all certainly asleep after lunch

[greyingsurfer] 24/3/2023 09:36

Yes - and the people they are trying to sell those bonds to

They are aware of that and will act accordingly

They will have been well aware before the RNS was issued. It was always clear that with the world moving to a higher interest rate environment last summer that initial views on bond yields etc would have to be revisited. The figure reorted today won't have been dreamed up in isolation, it will be the result from conversations and negotiations with those who expressed interest and othere=s, so none of this will be news to them.

The delays, and increased cost are certainly dissapointing, but they were also pretty much inevitable. Hopefully things can move forward from here, but we'll have to wait and see, as ever.

[arab3] 24/3/2023 09:32

Did you ask the board what they thought about the share price Donald ?

[bradshaw980] 24/3/2023 09:29

That's why I thought it bizarre that you would be in production this year, as this seems like complex metallurgical test work which may require extra steps/ programs, whatever, but it doesn't sound like it will be wrapped up and put on the shelf anytime soon, IMHO!!

[donald pond] 24/3/2023 09:21

My understanding having spoken to the board this morning is that ATS results from the lab are likely to land around quarter end and will then be subject to the type of analysis I've just mentioned I've got no doubt it "works". The question is how well compared to traditional methods and if the answer is better, how to best optimise it. I have confidence in the resource here and in Ryan's ability to diligently and effectively deliver the project. Funding is the unresolved issue but hopefully the terms of the bonds now meet investor requirements and the next news is that it has all been arranged.

[donald pond] 24/3/2023 09:13

On ATS, the lab report will absolutely not say yes or no. What it will do is produce a huge amount of data setting out what percentage of gold, silver and copper is recovered using different approaches to ATS. The size of tank, ambient temperature, frequency of agitation, ATS concentration, size of crushed ore, volume in each pass, all of these will affect the outcome. Some factors might improve the production of one metal at the expense of another. Some might help or hinder the production of all metals. Some will have a cost impact (do 3 smaller tanks work better than 1 big one). Mining is, in general, about three things. Having the resource, having the funding, and then doing a lot of small steps as efficiently and diligently as possible. From my perspective, we have the first, I am absolutely confident in Ryan's ability to manage the third. So it is all about the funding.

[juju44] 24/3/2023 08:57

They were asleep when they should have been finding the funding

[williamcooper104] 24/3/2023 08:54

Yep - plenty of macro stuff that could have been used to blame Also let's not forget that the next three months for raising debt; particularly in the US are likely to be pretty brutal

[soulsauce] 24/3/2023 08:48

Waited all this time for an update and that is what we get served up.

That said if copper trades at $6.00lb down the line we won't mind paying that inflated interest rate.