Phoenix Copper Share Discussion Threads

[kooba] 02/2/2024 12:52

One should ask why if funding or even the PFS was that close or in any way conditionally agreed they could have got the fundraise done on that positive note..but no they issue equity at a very distressed level to potentially buy some kit that they might need once in production which is on any realistic basis some way away.Effectively using equity at a distressed level is not really buying kit cheap as they are selling equity maybe even cheaper and significantly diluting shareholder interest in the project.Hopefully things all come good and much clearer by the end of March..if they don't I'm really unsure how they come back and raise more from equity for working capital and repay the loan if that is required.

[copper copper] 02/2/2024 11:40

Surely the most optimistic (whilst being realistic) position is that the funding is conditionally agreed, and they must produce the feasibility study, and remove certain risks from that study… i.e. purchase the equipment they are claiming to be cheap on the 2nd hand market.
I guess if it isn’t ‘conditionally agreed’, then they might think they get more chance of getting funding if that equipment is owned already… in preparation of trying to get funding.
Given their confidence of it being so close, you would hope the discussion haven't totally broken down.

[bigboyblue] 02/2/2024 11:04

I think most of us have come to the view that no reliance can be placed on the positive spin comments that we were seeing so regularly only a few weeks ago. Now it's all gone quiet and of course that could be very ominous. On the other hand, is it just possible that they genuinely are about to deliver and they're just being professional and keeping quiet until they can release the news? Hoping (but not necessarily believing).

[kooba] 02/2/2024 10:17

I would say being overly optimistic is more of an issueNb"In the event that the Bond Financing does not complete and a new facility is not put in place before 23 March 2024, the Company will be required to seek alternative sources of funding to fund the future working capital and capex requirements of the Company, and to repay the Facility."So the company that has failed to hit just about any timeline and has just done effectively an emergency fundraise to keep the lights on has until 23 March to deliver on two financial negotiations, so in the next 7 weeks or they will be back cap in hand. I still can't understand the need to raise money to buy crushing equipment when they can't fund 3 months of working capital. Bonkers.Anyway still think getting any finance in place will be dependent on producing at a minimum a PFS..now hoped to be finalised by the end of this quarter..again something that has been serially missed. So everything comes to a head again very soon. Strong possibility they don't buy the kit so that money goes in general working capital , so they can pay their wages.Only hope is that the folks actually buying into the placing have a far better idea on deliverability of above than bog standard shareholders.For the lender they now have more security as the business has more assets now , lets hope that doesn't encourage them to be more aggressive.

[boonboon] 01/2/2024 11:35

Hopefully you managed to get your taxes done on time. I'm eagerly awaiting your explanation for the PXC mess.

[trad3m3] 01/2/2024 10:54

The FUD is strong here, I like buying extreme fear and the gauge is bordering in between, waiting for the rest to sell near the bottom if possible as still bit peckish. Glad to see you here pants, I have had very good run in the past, and when was selling in the past I thought that I won't be buying here anymore as they will be in production already by this time, but man wow! Second chance is so tasty! Feel sorry for you lot that is at a loss, but that's how it ends when you trying to be a day-trader with zero knowledge about what you're doing, then coming back and sobbing, and better yet selling at loss instead of topping it up! Try entering trades with smart money, on key levels, one should study the idea in-depth. GLA!

[boonboon] 01/2/2024 10:04

It seems that when PXC don't like a reply on one of their Twitter posts they delete their post and then repost it so the replies disappear.

[greyingsurfer] 01/2/2024 07:47

Hardly surprising, boon, as PIs could pick up shares cheaper in the market. And some certainly did.

[boonboon] 01/2/2024 07:09

So they only convinced private investors to cough up just over £66kSo they had to go back cap in hand to the institutions for another £50k

[stefan178] 31/1/2024 11:25

Unless it was in an ISA.

[boonboon] 31/1/2024 10:57

Nice little take loss you can take on PXC.

[arab3] 31/1/2024 10:40

No surprise there was hundreds of messages pants
You have not posted since 1 dec

[pantsonfire] 31/1/2024 10:35

Actually I was away on a skiing holiday for the last 10 days, extended thanks to a technical fault with EasyJet. I therefore saw one day, on my return from the pistes, the presence of several hundred messages (and no advance knowledge either), and with my family waiting for me, took the safe decision to ignore till my return. I am now home but have some urgent personal matters to attend to today (the end of year tax return being one), and tomorrow I’m out so it might not be till Friday when I can post. But I will present my thoughts. But from what I have seen, I believe the outcry is exaggerated. I have always said this is a share to put away and forget about. The issue of price has no value till the share is sold (with exceptions I will raise). I have no doubt this is a good company, a good investment and will deliver. Please now allow me to sort my things out, and I will post again when I have free time.

[bonio10000] 31/1/2024 10:34

boonboon29 Jan '24 - 13:21 - 10394 of 10399 (Filtered)

[pantsonfire] 31/1/2024 10:32

I apologise for my absence from here for a few days. I’ve been away for treatment for manic depression, but thankfully reading the posts on this and other boards, particularly from BoonBoon, has pulled me through ………;

[trader465] 31/1/2024 10:01

All the deluded rampers have gone very quiet here

[kooba] 29/1/2024 14:24

I'm interested in Telegram, more in the posts of the FD than the cancelling of shareholders who want to try to hold the management to account and ask questions..that is equally important though. If the company choose to use social media as a means to communicate with shareholders outside of the normal channels then i think it's a big mistake, if they then get caught posting overly positive comments that turn out to be false then they have a real problem.A fair amount of what has happened recently doesn't really add up to me even having read just about anything officially available..not including bar telegram.

[klondykejohn] 29/1/2024 13:52

For goodness sake boonboon. Just move on.

[jbravo2] 29/1/2024 13:12

Who cares boonboon?
You’re having your say here aren’t you?
A bunch of fanboys wouldn’t be converted by your point of view. Why does that surprise you?

[boonboon] 29/1/2024 13:09

Can you also explain why I was threatened about my posts a week before the placing? I was being accused of trashing the shareprice.It's got nothing to do with pretty much all timeframes not being adhered to.Apparently my posts are more effective to the shareprice than the finance director saying bonds in around 3 weeks and then not delivering.