Phoenix Copper Share Discussion Threads

[kooba] 21/3/2024 09:45

I would be extremely surprised if any bond funding can be closed without at a minimum a PFS in place. No $25m bond drawdown no further access to capital from the facility.
So the PFS is vital and has been extremely long in being delivered..last guidance

“As announced on 18 January 2024, the pre-feasibility study ("PFS") for the Empire Open-Pit Mine is nearing completion and, barring any unforeseen delays, is anticipated for delivery to the Company by late Q1 2024 or early Q2 2024. The final PFS report will include a comprehensive mine plan, mineral processing design, compliant mineral reserves calculated as deliverable metal for smelting or refining, net of mining dilution, detailed operating and capital cost estimates, and final economic analysis and cashflow. The completion of this report will represent a significant milestone for the Company and will enable the Directors to make final amendments to the Plan of Operations for permitting purposes and, subject to finance, to procure the remaining capital equipment items.”

What is holding this up and who is actually producing it who knows ..but the clock is ticking.

[kooba] 21/3/2024 09:04

Why would you assume they won’t do so?

“… net proceeds of the Fundraise will be used to progress the purchase of the Equipment (including taxes and shipping) and for general working capital purposes.”
At the time of the fundraise

Working capital is the money used to cover all of a company's short-term expenses, including inventory, payments on short-term debt, and day-to-day expenses—called operating expenses. Working capital is critical since it is used to keep a business operating smoothly and meet all its financial obligations within the coming year.

So it was always intended to cover day to day running costs but was under the guise of a super duper plant purchase we now know how much that involved and how much is left…maybe they find more stuff to buy..we will see but i doubt it. The company needs to hold several months of working capital to keep it solvent and things are very tight with it seems no certainty of the bond finance ..as yet.
But for now as the previous poster said the company cannot run on fumes and they cannot draw any more money down from facility until they have the bond funding. So they bought themselves some time to pay the bills. Pretty straightforward it seems to me.

[jbravo2] 21/3/2024 08:30

Because there’s no other source of cash and wages can’t be paid using a magic money tree?

[greyingsurfer] 21/3/2024 08:22

“Still much to deliver and noting less than half the money raised is being used for equipment the balance will be used for central costs i guess.”


Not what the company are saying. The cash was stated as raised for equipment purchases and the RNS 2 days ago stated they will continue to purchase equipment with the rest. Why would you assume they won’t do so?

[kooba] 21/3/2024 06:14

What should be helping is the copper price ..although any PFS if ever produced would be calculated on an average over the past few years the recent rally and optimism should improve sentiment if one was anywhere near getting funding.


Still much to deliver and noting less than half the money raised is being used for equipment the balance will be used for central costs i guess. Agree boonboon point saying any great deal for kit (they can’t use until funding is in place and productio commences) by using a deeply discounted placing to pay for it negates a chunk of the potential cost saving..but does create an excuse apart from raising money just to pay salaries.

[boonboon] 19/3/2024 14:12

Nice to know I've got a stalker. Funny you should mention my SEE post. I'm still holding so not lost any money.Not lost any money in Phoenix either as haven sold any.I can tell you the percentage decline in Phoenix is much higher than in SEE over the same period so not sure it's worth you gloating at my perceived error.

[williamcooper104] 19/3/2024 14:11

Bonds in the post

[3weeksorso] 19/3/2024 13:45

Don't take pleasure in others losing money.

They delivered 2 pieces of equipment. Well not quite delivered yet and you expect us to cheer?! The share price is 12p and not moving, the end of Q1 2024 is fast approaching and still no financing.

[zb27] 19/3/2024 12:31

@boon

The fact that you can add a negative spin on a positive news day totally sums you up!

You have created constant FUD. And now proven totally wrong twice, 1st RF will convert, WRONG, 2nd Placing is just to pay for salaries, WRONG! When the bonds arrive wonder what you will do, I'm guessing you will go totally missing, atleast you will get your life back, as all you seem to do is troll the PXC boards, how sad and pathetic LOL

I think you need to post more on SEE board! After hudreds of posts there, I see you predicted £1 way back in 2021 to pay off your mortgage and build an extension and it's 5p today, never ever went over 12p, in fact since your postings on SEE the only trajectory has been down ever since DOH. I'd get off your high horse, and wouldnt be even thinking of giving anyone investment advice in a hurry.....

Can't make it up if I tried.....


boonboon

Posted in: SEE

Posts: 636

Price: 10.90

No Opinion

RE: Best of luck this week.7 Nov 2021 09:09

So how much does everyone need to make a material difference. For me £1 has always been the target. Will enable me to pay of mortgage and do an extension. Plus have a substantial amount in my sipp. Can't see anywhere near that this week and will be disappointed in anything less than 50p.

[williamcooper104] 19/3/2024 11:13

Dear shareholder of PXC We have come into a great fortune that we need to unlock via a bond issue Your share of this will be untold millions In order to access this you need to subscribe a small amount to our next share issuance

[juju44] 19/3/2024 11:10

Always a bunch of lies to keep the lumpen on board to provide their lavish life style

[boonboon] 19/3/2024 09:15

They can't be clearer about the bonds as they haven't got a clue themselves I expect.Over the last two years we've had everything from; it's imminent, within a few weeks, it just needs a signature, it's been signed but the lawyer won't release the paperwork, within about 3 weeks, the money will be there when Ryan needs it, we've got a bondholder representative in Idaho doing due diligence, etc, etc.

[sportbilly1976] 19/3/2024 09:04

Boon,

That is true, but we are where we are - at least the purpose of the raise has now been confirmed with actual purchases and the discount on both price and lead times look good.

Bond finance hopefully next

[boonboon] 19/3/2024 08:48

And it's a saving on paper, but they had to flog cheap shares at 11.5p to get the funds. So I wouldn't exactly call it great business.

[qs99] 19/3/2024 07:52

Cannot understand why the management cannot be clearer on WHY the bonds are being held up if they are so near to signing. The vagueness is a killer to confidence. DYOR

[zb27] 19/3/2024 07:43

Another piece in the jigsaw delivered, a huge piece.

So much going on, I am very confident bonds will be issued soon, remember they are already registered with the relevant authority, waiting for all the 🦆🦆🦆 to line up?

There is so much going on which we are not privy to. Once delivered everyone will be very surprised with the end result.

Risk/reward with PXC is second to none.

[saucepan] 19/3/2024 07:16

A saving of 7 million US$ = £5.5m
Quite astonishing to think that is about 30% of the Company's current market capital of £18.26m

[klondykejohn] 18/3/2024 20:38

If the ball mills are ok, then they can be assembled and piloted. Perhaps the next stage could be the purchase of a couple of leaching vessels. Could PXC be closer to a full pilot run than was thought possible?
Is an RNS just around the corner????

[sportbilly1976] 18/3/2024 13:24

From the rns on 19th Feb:

"The Company has executed an Asset Purchase Agreement (the "Purchase Agreement") to acquire two pre-owned ball mills to be used in the processing circuit at the Empire open-pit mine. The closing and funding date of the Purchase Agreement is 15 March 2024 and is subject to a final inspection and inventory of parts and components. Additional information will be provided following the closing date. "

RNS tomorrow? One would have expected it today, given this is within the control of the Company, no external consultants or sign-offs required....but here we are

[juju44] 18/3/2024 11:59

That should give them a laugh

[klondykejohn] 18/3/2024 10:26

The only problem zb is that they cannot get the bonds out of the blocks.
Who precisely are they waiting for to sign off on the bonds?
What happened to the drilling results at Navarre?
Everything at the moment is long overdue.
With the whopping salaries that they are paying themselves then some credible advancements should be forthcoming otherwise I see some major discontentments boiling over and a change of management may be on the cards.
These guys need to get out a decent rns asap.
Pants has never been back posting on this forum since his holiday so how does he now feel about his investment.
Come on guys, give us some really positive news. Red Star, Navarre, Exgen committment or not, Empire upgrade, anything please.

[zb27] 18/3/2024 09:03

News imminent
All buys again, will go NT again soon.
Smart investors loading up at the absolute Rock bottom lows.

PXC was nearly 40p in Nov, 1st tranch of bonds land and 40p will be toast.

[zb27] 15/3/2024 14:38

NT to Buy any decent volume now

All buys today.

Plenty of 1 trades, RNS due, or can we have RNS's please