Phoenix Copper Share Discussion Threads

[bradshaw980] 23/7/2023 09:17

Yes but the whole 'bond guys don't need feasibility studies' angle threw me off kilter.

[donald pond] 23/7/2023 09:11

All down to covid and the subsequent supply chain issues which has caused the company to focus on improving every aspect of the project. In early 2021 there were 2 year waiting lists for many items. To press ahead when costs were uncertain and elevated and timescales uncertain would have been reckless

[bumpa33] 23/7/2023 09:06

If you go back over the entire timeline of PXC RNS releases you will see the goal posts have moved so many times they now reside in Alaska.

[donald pond] 23/7/2023 08:44

Isn't it self evident that there won't be a feasibility study until we get the metallurgical report back? Only then will we know what percentage of metals we are likely to recover and at what cost. So if I had to guess, by the end of August we should have funding in place and clear metallurgical guidance. Then we finalise plans, submit for permitting in q4, and likely produce a FS around the same time.So if you regard a FS as essential for your investment decision come back then.

[stanleyuk] 23/7/2023 08:28

Bradshaw, you’re asking the same question yet again!
As I replied to you on Thursday:

“I am sure you have read the recent Panmure Gordon broker note (4th July), In which it states the coming milestones.

1. Pheonix's key goal for FY2023 is to complete the Empire Feasilibity Study.
2. ...environmental permit for Empire and bond issuance is planned for H2 FY2023.
3. We now expect construction to begin in H12024 and first production in FY2025.”

Whether you believe the broker note or not is up to you, but if does clearly state that a FS will be completed FY23.

Stan.

[bradshaw980] 23/7/2023 07:32

OK so bond investors do not require a feasibility study. I know I sound like a broken record but as an investor who enjoys to read technical reports, RNS's like Pheonix's January 2021 release titled "Empire Mine open pit feasibility study update" with the CEO commenting "as we advance towards a pre-feasibility study as soon as possible ".....well, I must be honest here and say CEO comments like that kind of have me waiting for and expecting a pre-feasibility study ! Then a further RNS in September 2021 saying " the related feasibility study is ongoing in accordance with the anticipated timetable ".....so forgive me for my continued asking of "where the hell is the feasibility study, bro" because for the life of me I still can't figure out if Pheonix have appointed a company to carry out a feasibility study?Asking the simple question of feasibility study 'Yes' or 'No' is like spending the weekend trying to get blood out of a stone, and I'd probably get better results!Still as I type this nonsense I have no godly idea if you plan on releasing a pre-feasibility or full feasibility.....LoL !!

[bumpa33] 22/7/2023 19:36

I seem to recall Navarre Creek drilling was supposed to be funded by the cash being thrown off from production at Empire. Didn’t quite come to pass that eh…

[donald pond] 22/7/2023 19:28

Drilling Navarre Creek now was the plan from 2 years ago. It really isn't a diversionary tactic. Let's just see what happens with funding.

[bumpa33] 22/7/2023 19:14

Sorry just to clarify when I said “absolutely221;…

I mean as in “absolutely221; they will never mine a single ounce of copper.

[bumpa33] 22/7/2023 19:09

Donald, I’m surprised you can’t - or won’t - see what’s going on here. Switching to Navarre Creek with the last of their - or rather Riverforts - cash is surely now a Hail Mary…

[bumpa33] 22/7/2023 19:06

Absolutely.

Btw how is that other terrific tip you gave on here going, GRL?

[pantsonfire] 22/7/2023 18:53

Bumpa. We meet again. Let me extract one sentence of what I believe summarises your post "Why anyone thinks the current incumbents are going to turn this post WW2 non-performer into a major mining resource is utterly beyond me.". Let us remember this sentence, and I am sure that you will not mind if I come back to this, as I expect, in the future. If you do object to me reminding you in the future, then please state it clearly. And let us both be judged on this. Are you happy with that?

But now to go to the bottom of your post, and please read and re-read your last paragraph. Boxxer are the company who are our 20% partners in the Empire Mine projects (they changed their name to ExGen in 2014). They were a small royalty company, without the capability to raise finance, so turned to Phoenix. Their interest from Empire are in the royalties. So, Boxxer (ExGen) performed the testing and then brought in Phoenix to bring the mine to production. Does that sound as if the testing was a failure? Notwithstanding that Phoenix have themselves performed a mass of subsequent testing in the Empire Open Pit.

Sorry Bumpa, you are going to have to do better than this. You really sound as if you have a grudge against the company.

Everything I have seen, and continue to see, shows a company moving steadily towards production, and a fantastic opportunity. As I say, I am willing to be judged against this company coming into production. Are you?

[donald pond] 22/7/2023 18:42

The company is exploring multiple options. You would expect nothing less. Clearly it is all about getting the bonds issued. Nobody disputes that.

[orhlsw7] 22/7/2023 17:45

Donald has been getting a bit more agitated in his replies, hasn't he.

[orhlsw7] 22/7/2023 17:33

Donald, we probably could now say this approach is not working is it?! In your last Telegram posts you have already started to mention plan B. Gradually Changing the direction the board might go with their financing. Do you not think you have been led down the garden path by this mysterious investor who comes through the very trusted middlemen the Company has worked with before.

[donald pond] 22/7/2023 15:09

Brad,The reason why you can't find all that information is because the aim is to fund the mine through a copper bond rather than traditional project financing. The company is taking a different approach. To consistently complain that they aren't providing the same information you would expect from a company following a traditional path is tiresome. Bond investors are not asking for that info

[juju44] 22/7/2023 11:37

Bradshaw , you are 100% right . Blinkered brigade only want to hear the ramp

[puzzler2] 22/7/2023 11:22

Best to filter bawdrash980, as I have done.

[bradshaw980] 22/7/2023 10:38

Surely this platform is for information and education? I am here to learn and get better at natural resource investing. I have no intention whatsoever to 'erode' anyones holding, and if you think it's me and not management decisions/general market sentiment that have 'eroded' your holding then you're quite frankly bonkers!One has to have total confidence and conviction in ones holding. Then people like me who question things are surely welcome and appreciated? Surely we can learn and debate together? What's the matter pal, not entirely confident? Have you done the hard yards, put the work in and tried your absolute best to understand this game?I will learn from Pheonix copper 100% guaranteed whether you, Donny P or anyone else likes it or not ! Soon they will attempt to get a copper mine permitted in Idaho and I'm interested in that process, like it or lump it baby boi !All imho DYOR!!

[stanleyuk] 22/7/2023 10:13

In that case, good luck with your other investments, Bradshaw980. It’s clear that Phoenix isn’t the company for you.

The rest of us understand the risks and have placed our money accordingly. If you don’t like the company then that’s fine, but constantly coming here to trash a company that you have no intention of investing is really does seem a waste of your time and efforts.

I’ve always tried to reply politely to all posters in here and will continue to do so, but I can only assume that your aim is to erode the money I and others have invested here, which does seem a very sad way to live your life.
Maybe we will lose our investment, maybe we will be handsomely rewarded, but I cannot imagine taking joy from spending time to cause others financial loss.

If you don’t like the company, move on. There’s plenty of other good investments out there.

[bradshaw980] 22/7/2023 08:57

Personal red flags for me off the top of my head, not intended as a 'deramp' (and Donny Pondman I've never shorted anything in my life)1) They say they are waiting for construction finance but have yet to release a Preliminary Economic Assessment or Pre Feasibility study, let alone a full Feasibility study (maybe they've released some lame internal desktop study but that's not exactly an Ausenco report is it)2) I can't see an ore reserves statement on their Website, so IMHO they haven't got proved and probable ore reserves.3) I can't see any cross sections released with drill results, meaning I have no idea of the shape of the ore body and continuity of the grade etc etc.4) Apparently funding is potentially close and the mine will soon be built (hopefully) but for the life of me I can't find an internal rate of return (IRR) for the project.5) Plenty more gripes but my coffee's getting cold innit.6) Welcome any critiques from you natural resource legends

[donald pond] 21/7/2023 18:20

Ok, let's leave it there then. Turkeys think the farmer comes to feed them every day and are their friend and they are 100% right until they are 100% wrong.

[bradshaw980] 21/7/2023 18:14

OK it works. Fantastic. My car used to work before it broke down, now I'm on a folding bike !

[donald pond] 21/7/2023 18:12

We've told you ATS works, now we will likely tell you next month whether it's the best approach. Either buy in, go short, or clear off. Otherwise you are wasting your time.