Phoenix Copper Share Discussion Threads

[williamcooper104] 02/5/2023 20:33

Needing to complete funding before signing off accounts is not necessarily a good look Is that a case of - they can't get a going concern opinion without the bonds????

[retirementplan] 02/5/2023 19:00

Posted by RW in Telegram @ 11:00 today:
Let me try to help with the speculation. We truly believe the funding is about to close. Receipt of final paperwork is proving incredibly frustrating, not least for me, with accounts to sign off.
Since the bond issue is such a material event and changes the tone of the annual accounts, we have been holding back signature until the funding is closed. We appreciate however that we must sign the accounts off fairly soon and call an AGM.
That’s where we are. This is not a promise, a deadline, a milestone, a fixed timeline, just some guidance.
We will get there, and patience will be rewarded

[deuchar] 02/5/2023 08:24

Hoping for news this weeek?

[juju44] 28/4/2023 14:45

Do you mean breakdown ?

[kaos3] 28/4/2023 10:39

chart update - break out ....

red line at 34 p next target

[donald pond] 27/4/2023 08:48

It's not my petition but I do support it. All about improving shareholder rights, especially when held through nomineesAs for Phoenix, there has been no sensitive information shared on the telegram group

[mininglamp] 27/4/2023 07:52

One wonders about what has been discussed or disclosed in the private chat group to drive yesterdays strong buying - one suspects a few hints may have been dropped by those in the know.

The chart looks very good with no resistance back to March 44p level.

[sipptrader88] 26/4/2023 16:10

Donald Pond what's your shareholders equal rights petition to Parliament all about??

[ptolemy] 26/4/2023 14:57

Steady buying since 13:00hrs....

[meanreverter] 21/4/2023 18:33

RetirementPlan — There is no need for an extra post to correct infelicities of expression; you can edit your post.

[retirementplan] 21/4/2023 10:33

'there', not 'their'.

[retirementplan] 21/4/2023 10:31

Copper likely does not enter the Net Zero talks as we all assume commodities that have been cheap and available will always be their. Until they're not. Empire has not been built in a day, but it will happen, IMO.

[colsmith] 21/4/2023 10:05

RP - good article and thought provoking. Unfortunately those that are making the plans for an all electric world have clearly no knowledge or natural sense in that supply and demand need to be in balance. I guess the role of copper doesn't enter into their net zero talks. All good for PXC assuming they can get the stuff out.

[kaos3] 20/4/2023 20:00

thank you - missed it ... - repost
all good - answered my Qs.

RW on TG just now:
Dear All. Under the circumstances, I feel it is time for me to post. This in no way detracts from the excellent work Donald has been doing.

Firstly the bonds. As stated Friday, we are finalising this as quickly as we can. It’s been a dreadful market - in US interest rates have gone from 0.5% to 5%. We have therefore adjusted the bond coupon to make it more attractive now in a high interest rate environment. It should not change what we pay in the future, if we believe in the copper price (which is presumably one reason we are all here). Market will be updated on the issue ASAP.

As for short term financing. It is nothing other than an insurance policy to ensure that pre-construction work and pre-season exploration preparations can continue uninterrupted pending bond completion. We have no intention of allowing it to go beyond the 3 months and possibly be converted. In fact it cannot be converted until headroom to issue more shares is granted at AGM. So right now some people are worrying about something that cannot happen. Cash wise, we remain in a good position and can cover corporate and basic operational costs well into 2024. As for warrants, the previous two RT facilities had warrants attached. They have been exercised and produced cash for the company. Please remember that the company also has existing warrants and options outstanding, which should also produce cash for the company. We hope to use option and warrant exercise monies over the next 3 years as a reserve exploration budget. We pledged minimal or no dilution from equity issues to put Empire into production. We intend to keep to that.

ESG. Delighted about the A grade. Well done to our team. Once we are construction financed I believe our ESG credentials could play a huge role in bringing new institutional shareholders on board, particularly through our US ADR program.

And Navarre Creek. We are really excited about this. The drill rig is prepaid. The programme is permitted. 30 pads, 2 holes from each. Should be very exciting.

In short, nothing really has changed. Company still here. Still in Idaho. Project still here. ATS testing nearing completion. We are still going to produce copper, gold and silver. It’s just whether all together, or in phases. Everything looking good. Other than share price!
There are also other exciting developments afoot which I cannot talk about at this time.

So to those of you who do believe in the future. Relax. Thank you for your continued support. The future is very much alive and kicking!

[retirementplan] 20/4/2023 19:21

Kaos3: why don't you just read the post by RW, the CFO of PXC, which I copied to ADVFN a few weeks ago?Straight from horse's mouth. If it is all too confusing, well.......

[kaos3] 20/4/2023 09:54

if it is triggered long term chart tells me it will be at cca 15 p

1. go short - sell a lot of shares
2. share price gets down
3. issue lots of shares at depressed level
4. cover the short

one gave me an explanation when i asked. he is probably very wrong

[kaos3] 20/4/2023 09:52

--- The Company has entered into a short-term $2,000,000 loan facility (the "Facility") with Riverfort Global Opportunities PCC Ltd (the "Lender") in order to strengthen US dollar operational working capital ahead of the 2023 exploration season, pending completion of the Bonds. The Facility is unsecured, has an initial three month term (the "Initial Term"), and pays a fixed 4% coupon.

The Company has the option to extend the Facility beyond the Initial Term for a further nine months, at 1% interest per month. If the Facility is extended, the Lender will be entitled to convert any principal or other amount outstanding into the Company's ordinary shares ("Ordinary Shares"), in one or more tranches, at a price equal to a 10% discount to the lowest VWAP...

as i am not familiar with high finance ....
gut
they said no equity ....
is the above equity .... or what
if not solved very soon....
can we afford being smart and optimal and efficient and wise and professional any more...
without excessive long term costs of dilution and paying 1 pc / month ... eg.. an interest rate if accumulated above 20 pc per anum

I am surely and definitely completely confused

[klondykejohn] 19/4/2023 22:48

It is quite possible that PXC are waiting for fed rates to drop further this Summer to reduce total costs.
Also, we are still waiting for the results of the Cu extraction process.
If this works, then there is a significant saving on start up costs and should reduce how much is needed in bond purchases.
Take your point though on cost of salaries for some of the directors.
Maybe they should review this whilst we seem to be in a bit of a limbo situation

[greyingsurfer] 19/4/2023 14:44

I thought PXC and DP had been quite clear on the bond issue.

I think they have. But, as ever, it's not over till the fat lady sings, or there's an RNS, and they've never suggested otherwise. There are plenty of reasons funding could be held up, whch don't threaten it happening. But there are of course others that raise much bigger questions. We either choose to wait and see, or move on. I'm quite happy staying for now. Someone is going to make a lot of money out of PXC's assets at some point, and I think there's a good chance that some of that at least will come the way of current shareholders, whatever any short term pitfalls may appear in our way. Which I currently see as a low probability event.

[juju44] 19/4/2023 14:44

Think we have been mislead

[williamcooper104] 19/4/2023 14:42

When you've been trying to fund something for over a year and don't have credit approved terms I think you can conclude that you've failed Of course it's possible they find someone in the future

[kaos3] 19/4/2023 13:06

if so - i can not see their activities being cut down to save money - as it would be only natural imho

also no jv seeking

no advisors engaged etc.

as all is sunshine

so it must be. and on here no one is concerned also... people who have huge knowledge and relations and lots of money etc.

ps i am just a slovenian gardener and that is my current thinking

jebi ga