Phoenix Copper Share Discussion Threads

[qs99] 28/3/2023 16:20

Nice entry point IMO....warrants at more than double buying price today, issued within the last week.....so have topped up at below 20p.....let's see...thanks for all posts above, most v. informative! DYOR

[investingisnteasy] 28/3/2023 14:33

Sportbilly, "As a thought - be in production doesn't necessarily mean Empire to be up and running?".

I've posted on a number of occasions that I believe this to be the case.
The bond will be placed, an acquisition or production share agreement will be made, and revenue from which will (maybe partly) cover the coupon.
It wouldn't surprise me if all this is in place ahead of the AGM in May.

There is clearly lots that Donald and Richard want to say, but can't.

[jbravo2] 28/3/2023 14:24

Thanks sipp
That was a useful reply.
I see yes they are targeting a 2.1mt/yr plant. I’ll be interested to see if they think they can build one for anything close to $100m when they update on the situation.
To my mind, even IF, and it’s obviously a big IF, they raise 80m from the bond, (so $100m with partner money), they’re still way short of the required cash for a 2mt/yr agitation leach plant, infrastructure etc. They really need to be able to heap leach first and not be tied to ATS in tanks only.

[sportbilly1976] 28/3/2023 11:42

Ref Richard's last sentence:

"...There are also other exciting developments afoot which I cannot talk about at this time."


To add - pure speculation on my part this line of thinking.

[sipptrader88] 28/3/2023 11:33

.........wonder if part of the $3m is for that sportbilly1976....but they've not ready to release...'til they get e.g. part of the bond raise to announce in conjuction....just speculating!

[sportbilly1976] 28/3/2023 11:22

As a thought - be in production doesn't necessarily mean Empire to be up and running?

The Company may have other options for a resource/interest to be production by Dec 31st not least that they may acquire an interest in an already producing resource?

[sipptrader88] 28/3/2023 10:54

Brad IMO it depends on the difference between "production" and "full production" where the former is to fulfil a promise and the latter to make the profit...more likely 2024/2025..also what we can do on "patented" land as opposed to "unpatented"...happy to be corrected on my view!

[greyingsurfer] 28/3/2023 10:53

I don't think anyone is going to be very susprised if production hasn't started by the end of 2023. The ATS was known to put back the processes of approval, with the possibility of bringing forward future cash flows, and the fund raising timetable has clearly been hit by the sharp change in the interest rate environment last summer.

[bradshaw980] 28/3/2023 10:46

OK so the Feasibility study will be completed once all the metallurgical test work is done, makes sense. But I'm struggling to see how they will complete the met work, complete the Feasibility study, get fully permitted, complete detailed engineering and procurement, design the SX-EW plant, get funded all within 2023, as there's only circa 8 months left lol.I remember Arc minerals said in early 2021 they will build a plant and be in production by Christmas, without even a resource, just a few drill hole with loads of missing numbers and no met work ROFLMFAO obviously never happened, but management surrendered options for millions shortly after ROFLMFAO

[sipptrader88] 28/3/2023 10:46

jbravo2 have a look at the RNS 16th Feb 2021 for the info you seek....but as per my 7588 post all is subject to change (dependent on how much of the "ore"/ "dirt" uses ATS. I suspect the "bond" investors are eager to hear the ATS result too!

[sipptrader88] 28/3/2023 10:25

Brad.....we need to know the direction we are going on ATS to do the final FS....I have told you this before...hence my frustration with you asking the same thing over and over. It is also my understanding that we don't actually "need" one for bank funding as there ain't going to be bank funding required!

Whether we "need one" (for e.g. ExGen Resources (which holds a 20% interest in Konnex Resources alongside Phoenix with 80%)for their 20% contribution to Capex etc. and I expect we will do one and we will really know is when the bonds are a done deal as one will assume if they have convinced the ‘money people’ then that should be enough for us."

Hopefully if the revenue is as my post below...$100m there will be sufficient to repay the coupon and retire some of the bonds......obviously the coupon amount is linked and dependent on the price of copper..........but if it is at the high end then too....our $100k p.a. revenue will grow too....so a win win for us?

If I have it wrong DP/POF etc. please correct me!

[jbravo2] 28/3/2023 10:17

Re 7582.
$100m revenue in year one?
Has anyone worked out just how much Empire pit ore needs to be treated at those prices to reach $100m/yr revenue?
Have they ever declared what size plant they think they need to reach those revenues? How much will a plant like that cost? $80m??????

[bumpa33] 28/3/2023 10:13

PXC are so revolutionary they’re going to be the first junior in history to raise project finance BEFORE completing any feasibility study.

[orhlsw7] 28/3/2023 10:12

Thank statement was made after lunch. Take that with a bucket load of salt.

[bradshaw980] 28/3/2023 10:11

It is generally accepted that you have to complete three economic studies, FYI....DYOR!!

[bradshaw980] 28/3/2023 09:54

PFS ? Have the company ever delivered an economic study to market? Are they going straight to full bankable feasibility without any study before that? Help me out here, as this whole study thing with this company is extremely confusing imho DYOR!!

[sipptrader88] 28/3/2023 09:45

PXC Chairman 368 days ago..in part....back to the basics...Today 09:46
....as a reminder!

"Regarding the timetable and funding, I am happy to report that several US, as well as other investors, have expressed interest in participating in a debt instrument to fund the entire capital expenditure needed to put the Empire open-pit mine into production. At $4/lb copper (the price has recently been as high as $5/lb), our current preliminary economic assessment model shows revenues in the first 12 months of production of over $100 million, significantly higher than our estimates for pre-production capital expenditure. This should enable us to keep our promise of getting into production without issuing further equity. Further announcements on this will be made in due course.

As ever, I thank you all for your continued support and for the expanded team's hard work in the face of Covid-induced adversity. I look forward to keeping you abreast of developments in what should be another transformational year for Phoenix Copper Ltd.

Marcus Edwards-Jones

Executive Chairman

25 March 2022"

[sipptrader88] 28/3/2023 09:44

Bradshaw980......have you got this now? hopefully you won't be asking? about PFS ad finitum!

[donald pond] 28/3/2023 09:25

The mine is feasible and the feasibility study was almost completed when covid struck and led the company to pause and investigate using ATS to recover gold and silver at the same time as copper. But if the bond is issued the main reason we would need a feasibility study is so our junior partner knows how much they need to contribute. Of course we will have a very detailed plan for getting into profitable production. The team have done this before you know.

[the_debt_collector] 28/3/2023 08:56

Been looking at this for a while, cannot see the reason behind the fall from the intra-day high of 46p reached on 7th March.

Delays happen, it looks like this has been talked down, usual caveats but in a thin and illiquid stock like PXC a few negative 'handles' on the bulletin boards can create havoc to a share price.

Opportunity knocks, concur with others the market will close down buyers on demand at the price will recover.

[bradshaw980] 28/3/2023 08:50

You can't build a copper mine without a feasibility study #knowthegameevenmore

[m1sterx] 28/3/2023 08:38

Tick tock the clock is ticking for the bears, probably a naked short IRO 1% sitting out there to close, circa 1.2m shares, the buyback is imminent.

#knowthegame

[mufprat] 28/3/2023 08:30

You're right, I don't really care. Hence the 'mufprat' handle.Happy clappers are no different to bashers, they just sit on opposite sides of the argument.I dislike both in equal measure.And despite my disappointment at recent events, I haven't sold any of my shares. Whether that proves to be brave or stupid remains to be seen. I'm leaning towards stupid at the moment.

[goldenshread] 28/3/2023 08:28

This looks cheap, the bulls seem far more researched and concise than the one liner posting bears.

The stock looks materially oversold and due a recovery.