Phoenix Copper Share Discussion Threads

[investorman33] 15/5/2024 17:16

BSG

The interest is escrowed into a bank account for the next year out of the bond raise (per RNS). The bond money is expected to pay capex and opex into production - but if there is any need for extra money once they have the 80m secured (as PXC has) then believe me its easy enough to place another 5m/10m/20m bonds no problem at all especially with copper at current prices = fantastic yield) and other finance houses would also be delighted to offer terms. The key investor at 80m took time to close, follow on investors are pretty easy !

[juju44] 15/5/2024 17:13

Lousy deal but much better than no deal

[jbravo2] 15/5/2024 17:12

Hmmmm
37%?

[bumpa33] 15/5/2024 17:04

34m new no cost shares + 22m warrants to subscribe at no cost. That don’t look like 25% dilution to me?

[jbravo2] 15/5/2024 17:01

@donald
25% dilution? Steep… but… better than I thought they’d manage.
Now onto the main course.
Permitting.
Any of the conditions for the cash relate to getting the permit to mine?

[lookinggood] 15/5/2024 17:01

Might have a dabble tomorrow

[bsg] 15/5/2024 16:55

How will they pay the coupon in the early years. My bet is by equity raises.

[bradders51] 15/5/2024 16:52

Thanks for all YOUR efforts and posts Donald

[greyingsurfer] 15/5/2024 16:51

Congratulations to the directors. They're well deserved.Looking forward to the other news now.

[greyingsurfer] 15/5/2024 16:49

25% dilution. Not at all bad. And given what you were saying about the company and prospects a few days ago an excellent result. And vastly better than the suggestion some have made about an equity raise that would have been massively dilutive.

[donald pond] 15/5/2024 16:49

Well, I am really delighted, and I hope that everyone has stuck through to the sunny uplands. Marcus and Richard have worked so hard to secure this and I will be toasting their work this evening.
Yes, there is dilution. But, on the other hand, there are no broker fees payable. Normally that would be in the region of $4m payable upfront.
Then it is crucial to highlight that the bonds are not convertible. There is no risk of a death spiral here.
We have taken on a strategic investor who will become a 25% shareholder and plans to support the company over the coming years.
The potential dilution is over 5 years and is totally predictable.
And the rest of us are going to own 75% of the company when we get into production.

[haveapunt1] 15/5/2024 16:46

Your forgetting 34mil new shares also issues and 22 mil ish warrants that will all have a massive impact. Great news and I can
Now get out, but it isn’t as great as portrayed if your actually read the terms and the RNS

[zb27] 15/5/2024 16:43

Start deleting those FUD accounts

After a million a one posts by certain characters.

There we have it.

[haveapunt1] 15/5/2024 16:43

A lot of new shares issues however

[greyingsurfer] 15/5/2024 16:36

"Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted USA focused base and precious metals emerging producer and exploration company, is pleased to report that its corporate copper bond issue (the "Bonds") has been fully subscribed for a principal value of US$80 million (before Bonds issue expenses)."Well done!

[donald pond] 15/5/2024 16:35

Bonds done

[haut brion 58] 15/5/2024 09:19

With the Mineral Reserve Statement for Empire on 7 May, one would have expected a few interviews by the BoD to further publicise this supposed great news. Have I missed these interviews?

[paulhopeful] 14/5/2024 22:03

Seagreen: Agree it needs the PFS. You note warrants at 30p and in your opinion the share price could double overnight.. I said the same sometime back, This would help the Mine move towards production. Gut feeling long-term holders will be Talking pounds in the future.

[kooba] 14/5/2024 21:43

NY copper market gripped by massive short squeeze, with Comex futures trading as much as $1,000 a ton above the LMEhttps://www.bloomberg.com/news/articles/2024-05-14/new-york-copper-futures-surge-5-5-amid-short-squeeze-on-comex-lw6mvl7a

[paulhopeful] 14/5/2024 21:08

Today it’s mentioned on this board.. alternative funding, Capital Providers, Strong interest, Long-term financing, no strategic investor until PFS And more. Copper is on the US government critical list. proven reserve at Empire mine contains $900 million of metals Mostly copper, at today’s prices. Prices are expected to rise over the next several years.. Only one percent of the license area has been proven up so far. We all know what is beneath The Empire mine, and the high grades that were mined up until the Second World War.. could the government help us? I read somewhere they are considering imposing a 100% tariff on Chinese cars? Going to need a lot of copper to build all American Electric cars. Nevertheless, as the rest of the world becomes more affluent to achieve this, it will need more copper, and it is in short supply.

[qazwsxedc69] 14/5/2024 17:01

Futures just gone through 5.00

Nuts.

[seagreen] 14/5/2024 15:03

RP thanks for that, any idea what the official time scales are from the company?

I still reckon we need the PFS all the licences and all the permits before people will invest in the bonds.

They should have raised some initial interest free equity at a discount to 20p with warrants at 30p imho but I am not in charge but the share price would double overnight imho.

I guess they can not get a strategic investor from one of the big boys until the PFS is finalised but that always propels the share price and gives a stamp of approval.

[rainyrain] 14/5/2024 14:52

ROFLMFAO you reckon production in 2025? Doncaster Rovers have more chance of winning the Champions League, and Scotland has a better chance of winning the World Cup, beating Brazil 7 - 0 in the final

In a nutshell: ain't happening, kiddo! All purely imho of course and DYOR!

[qazwsxedc69] 14/5/2024 08:41

Futures at 4.81