Phoenix Copper Share Discussion Threads

[kooba] 01/3/2024 10:19

5th Jan
“The Company also refers to the $2 million short-term loan facility (the "Facility") first announced on 24 March 2023, and confirms that it is in negotiations with the lender to roll the Facility into a new and larger facility to assist the Company with access to additional working capital, should it be required for purposes other than construction of the Empire open-pit copper mine.

Although there can be no certainty at this stage, the Directors remain confident that the bond financing will close and that the Facility will be rolled into a new facility”
26th Jan
“During such discussions the lender has agreed to waive its conversion rights on the short-term loan facility for one month from 25 January 2024.”
So 25th Feb..
But 19th Feb
“The Company also confirms that it has agreed terms to refinance the Existing Facility into an 18-month term loan (the "Term Loan"), and is currently finalising the legal documentation. Pending execution of the Term Loan documentation, the lender has agreed to waive its conversion rights on the Existing Facility until 1 March 2024. Further information regarding the Term Loan will be provided following execution of the legal documentation.“;

So it’s been a moving feast all year and now someone has been looking for a pen for 10 days..as you have found before predicting events that require just a signature is not a clever game.

If something does come out will be interesting what RiverFort has demanded in terms of security , conversion terms and interest for such an extension.Pheonix are not exactly in a strong position even with the additional funds coughed up in the distressed equity financing.

[juju44] 01/3/2024 09:55

If Donald is not trying to manipulate on behalf of the board then he is living in la-la land

[boonboon] 01/3/2024 09:49

Donald, if the delay is due to Riverfort being flat out busy what give the board confidence they'll have the time, or inclination, to do it today?You've basically said it's out of our hands and in Riverforts.

[juju44] 01/3/2024 09:46

I am amazed that peeps here can believe anything this shower tells us anymore

[kooba] 01/3/2024 09:25

RiverFort are a UK based entity , there should be no reason that , if an agreement is in place today it is not released correctly today. The company agrees to and announces timelines that it feeds its shareholders and must be acutely aware of how often they fail to meet those self set dates..they should not miss this one if they hope to retain any credibility at all.

[kooba] 01/3/2024 09:11

Donald pond
If there is no rns on Monday after what you have just posted you should resign any connection with the company and not post on here again. If people trust you after previous multiple missed timelines that is up to them but you confirming what should be defined as price sensitive information though admittedly was given as expected but not secured on these boards is not good form and could be in breach of MAR regulations…this is not a recognised way of giving information to shareholders..especially when it proves to be wrong as has been the case in the past.

[cromw3ll] 01/3/2024 08:58

Look forward to you selling and leaving this forum then :-) We will need sellers to push the price higher when this does lift off!

[boonboon] 01/3/2024 08:57

Although in hindsight I do wish I'd sold when the finance director ramped the shareprice up to above 30p

[trader465] 01/3/2024 08:54

donald pond - 11 Dec 2023 - 07:18:02 - 9693 of 9835
It needs one signature.

donald pond1 Mar '24 - 07:17 - 10519 of 10532
I’m told paperwork is all agreed and waiting lawyer sign off

donald pond1 Mar '24 - 08:27 - 10527 of 10533
It is expected to be sorted today. No problems.

donald pond1 Mar '24 - 08:38 - 10529 of 10533
It’s good I spoke to a director and cleared it up then isn’t it?


3 months later the same old story and still no pen in sight 🤷‍a94;️

[boonboon] 01/3/2024 08:53

It's not worth me selling at this level. Worth the gamble on the off chance they do get bond financing completed.I think the project itself has enormous potential, just depends if current shareholders are going to benefit once the metals start coming out of the ground.

[donald pond] 01/3/2024 08:50

Boon,If you are a shareholder and have no confidence in the board then you should move on. Life is too short

[zb27] 01/3/2024 08:46

Boon - it's all done, relax, you can stand down now 🤣. You have been so fixated with the RF, like a full time job, just wondering what you will be doing with all your spare time now 🤣

One thing everyone knows, you don't have a single share here, cannot understand the incessant interest, it is quite sad really, however you are not alone, there is one of you on every messaging board 🤦‍a94;️. You only have 1 life, live your best life 🤷‍a94;️

Funny thing with the FUD trolls, when share price is rising, they will go MIA 😂

[boonboon] 01/3/2024 08:44

Or maybe they should have been clear from the start? If I say I'm out of the office until the 1st of March I expect most people would think I'd be back in the office on the 1st of March.Anyway even if you've clarified doesn't mean I have confidence it will get done today. We've had too many broken promises from this board.

[deuchar] 01/3/2024 08:42

They need a pen

[donald pond] 01/3/2024 08:38

It's good I spoke to a director and cleared it up then isn't it?

[boonboon] 01/3/2024 08:37

It didn't say by it said until and there's definitely ambiguity on whether that means the 1st of March is the last date that Riverfort can't convert or if it's the first day they can.Let's hope we get a Riverfort extension rns on Monday and not a conversion one.

[donald pond] 01/3/2024 08:27

Spoken to the board. Previous RNS said the RF matter would be sorted by 1 March. That's today. It is expected to be sorted today. No problems. An RNS will be issued to confirm but unlikely to be published before Monday. Or in other words, no change to position outlined in previous RNS

[michaelwhight] 01/3/2024 08:12

Her record is 42 hours straight. Horrible.

[michaelwhight] 01/3/2024 08:10

I think you'll find that they do. That's why my wife does 16 hour days to get these sorts of agreements done on time when they are left to the last moment.

[jasperthemonkeygod] 01/3/2024 08:04

lawyers don't rush

[haveapunt1] 01/3/2024 07:41

Furthermore, the lawyers don’t sign it off, the parties do. In the days of electronic signatures and emails, it’s instant. The terms have been agreed for 2 weeks, no one will convince me the lawyers take two weeks to draft, when most is standard drafting. The company should have also been chasing this daily knowing the repercussions if the 1st is missed. It’s inept management

[haveapunt1] 01/3/2024 07:35

I’m sorry DP, but they have had two weeks to do that. The fact it’s yet another deadline missed and RF can now convert, with no comm from company is indeed treating SH with contempt by not communicating. It’s a loan agreement. Same old. It’s a basic loan agreement, nothing complex. Frankly I no longer have the energy to debate this board. They create their own issues, leaving a HUGE risk with conversion now legally available through inept management to get things done on behalf of SH. But hey, as long as the board get paid

[boonboon] 01/3/2024 07:18

Just like the bonds were 2 years ago?As you've just suggested it's not signed I can only assume Riverfort have now regained the right to convert if they want to..

[donald pond] 01/3/2024 07:17

Please, nobody is being treated with contempt I'm told paperwork is all agreed and waiting lawyer sign off. As previously advised.