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PXC Phoenix Copper Limited

22.75
-0.75 (-3.19%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Copper Limited LSE:PXC London Ordinary Share VGG7060R1139 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75 -3.19% 22.75 22.00 23.50 24.00 22.50 23.50 660,802 16:23:38
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 0 -1.54M -0.0123 -18.50 28.42M
Phoenix Copper Limited is listed in the Miscellaneous Metal Ores sector of the London Stock Exchange with ticker PXC. The last closing price for Phoenix Copper was 23.50p. Over the last year, Phoenix Copper shares have traded in a share price range of 10.125p to 38.50p.

Phoenix Copper currently has 124,928,622 shares in issue. The market capitalisation of Phoenix Copper is £28.42 million. Phoenix Copper has a price to earnings ratio (PE ratio) of -18.50.

Phoenix Copper Share Discussion Threads

Showing 39276 to 39296 of 39650 messages
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DateSubjectAuthorDiscuss
15/5/2024
21:50
Thanks DP, how will PXC pay the interest when the mine isn't producing? They can't use the bond. So must come from somewhere else.
bazboa
15/5/2024
21:49
Your maths isn't correct: we'd only owe 3.8m for 24 if we'd borrowed the money on 1 jan. Also, I would be surprised if the cost to get the pit into production was the full $80m. But it's all been figured out
donald pond
15/5/2024
21:44
If I have read this correctly. PXC will drawdown $40m by the end of the year and so will owe $3.4m in interest by December 2024. The remaining $50m will be drawndown early 2025, so will the interest payment in June 2025 be $6.8m? And then that amount will be payable annually after that? (Or higher if the copper price is high)"The coupons payable on 31 December 2024 and 30 June 2025 will be escrowed at 8.5% with the Escrow Agent, pending payment."
bazboa
15/5/2024
21:26
Excellent news, Well done management team and long-term holders, congratulations are in order. Looking forward to the next few years.
paulhopeful
15/5/2024
20:46
If you were to charge it would perhaps help towards your margin call in the morning! ?
scubadiverr
15/5/2024
20:38
Do you think I should charge for my insight?
:D

jbravo2
15/5/2024
20:36
You seem to be devoting an awful lot of time to a BB for a share you clearly don't hold
scubadiverr
15/5/2024
20:30
“So at 20% interest (the cap on bond interest rates) the shareholders are getting so loaded it’s like hitting the jackpot. Every day !”

Blimey, this is hard work.
It’s great when producing. It’s not in the run up to production. You know. The years spent permitting and building the mine. And that’s when you’re talking about them paying off RiverFort.
When you could be borrowing at 15% instead.

jbravo2
15/5/2024
20:23
JBravo

The copper bonds have a base interest rate and the interest then increases with copper price.

The way the calculation of interest works, shareholders get 80% to 90% of the increase in copper price, interest earners get 10% or so.

So at 20% interest (the cap on bond interest rates) the shareholders are getting so loaded its like hitting the jackpot. Every day !

And Annual report says that out of bond money drilling/other exploration on other properties will take place - so there is plenty of contingency allowed for in 90m.

BTW raising Cornerstone investment is tough - as we've seen with 90m - but getting follow on money once 80m landed (as it has)is far easier. Lots of people will want to give PXC an extra 5m/10m/20m they'll be able to choose the best deal on interest rates etc

investorman33
15/5/2024
20:12
The $80m is to fund capex not to repay Riverfort They may be able to get cash back on some of their capex wip from the bond proceeds but doubt it's enough to repay RF in totality
williamcooper104
15/5/2024
19:51
“Why not repay Riverfort, why do you expect them to do anything else - is the most rationale thing to do !”

What if the copper price means the bond is paying 20% interest? Would you still want it paid off? Shareholders might want it paid off but the board might not.

What if the 80m is tight on the forecast budget and has little contingency?

jbravo2
15/5/2024
19:49
Still don't know anything about the economics of the project other than it's low grade and low tonnage. Will that equate to low IRR?
Does it even matter anyway i.e., are they just going to build the mine without a full feasibility? Good luck getting fully permitted anyway ROFLMFAO all imho and DYOR!

rainyrain
15/5/2024
19:44
Riverfort are rapists and not good for any company . Get rid now I say
juju44
15/5/2024
19:41
Jbravo

Why would PXC NOT repay Riverfort before they can convert

With 80m in bank and they say in Annual accounts they plan exploration on other properties so PXC has spare cash. Why not repay Riverfort, why do you expect them to do anything else - is the most rationale thing to do !

investorman33
15/5/2024
19:33
Lol at the bitterness in some. I can wait another 2 yrs, as commodity boom underway as USA especially want security of resources. Share price will be multiple £ in coming years, will nicely fund my retirement as imo hugely derisked now.
cromw3ll
15/5/2024
19:30
but sterling work trying to spin this as a negative thing for the company
jasperthemonkeygod
15/5/2024
19:28
keep trying jbravo2
jasperthemonkeygod
15/5/2024
19:27
Almost certainly?
What would you say it depends on?

jbravo2
15/5/2024
19:19
JBravo

Riverfort will almost certainly be repaid from bond monies before the date the debt can be converted into shares

investorman33
15/5/2024
19:18
I see that. I’ve said that remarkably strong if that’s right. Keep up.
jbravo2
15/5/2024
19:17
Jbravo
The conditions are spelt out in the RNS - see my previous post on this - its just approval of the resolution to authorise BoD to issue more shares.

Nothing else

investorman33
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