Phoenix Copper Share Discussion Threads

[kooba] 20/5/2024 22:31

I didn't say there would be a BFS actually sunshine , I just said it was the excepted level of DD normally required to raise development capital..try to keep up.Yes i am a holder and I will hold sell or even buy more as I see fit ...i will also post whatever , whenever I like. Concentrate on worrying about what you think not me...and if you don't like what 8 post ..just ignore me..it's that simple.

[retirementplan] 20/5/2024 22:07

kooba, there will not be a BFS here. Pass resolution at AGM. $5m to Ryan on/around 31st May, Ryan goes and buys stuff he's already identified, mine build on patented land starts, PFS & license application in H2 etc etc. Perhaps news re delivery of the ball mills (but does anyone really believe they are not going to be delivered?).-A BFS would cost $millions more. For what? - the cash is coming, and coming soon.If you do have shares here: sell, and sell now as you have no trust in the BODs - a huge red flag for you to get out. If you don't, you post rather a lot for someone not invested.

[donald pond] 20/5/2024 22:04

The investor hasn't got any shares yet. They aren't free (or FREE as you say, oddly), they are in lieu of arrangement fees, which are normally 5-7%. And the investor has told the company they want to build a green metals exposure and PXC are a key part of that (it's on their website already). What matters is that a multi billion European investment company has contracted to provide $80m to fund the project. Or as you might say "they've GIVEN $80m away".

[retirementplan] 20/5/2024 21:57

What nonsense, paulscb.No shares have been allocated to Caner yet. A resolution needs to be passed at the AGM 1st. If you are trying to imply he already has 55m shares, he would be identified on the share register, which he isn't.Once the resolution passed (and it will - just like the bond issue closed), why would anyone who wants a 25% stake in a future $b company (he hasn't come here for peanuts) trash the share price He wouldn't be able to offload 55m shares of an illiquid security even if he wanted to.If you sold on the spike post bond delivery announcement & want to get back in, now is reasonable. You got your 20% ?. But, of course, you wouldn't want to be a 'sucker shareholder' (your words) buying this! So why not walk on by?

[paulscb] 20/5/2024 21:12

55 million FREE shares bring forward sold already. Oh dear.

[retirementplan] 20/5/2024 19:56

10 shares per ADR, from memory.

[kooba] 20/5/2024 19:45

Investorman33..here's a simple guide to a bankable feasibility study ..it might be of interest and certainly is normally the minimum required to raise any serious funding..from a bank or otherwise..as PXC confirmed themselves. There are good reasons for this kind of detail being achieved.https://www.proactiveinvestors.co.uk/companies/news/1031424/mining-101-unpacking-the-bankable-feasibility-study-a-comprehensive-guide-for-investors-1031424.html

[pjackson2] 20/5/2024 19:23

Thanks investorman33.
I just wondered if this was still available to US residents as if they pump it over there maybe create some demand.

[kooba] 20/5/2024 18:11

More detail if you want it from Bloomberghttps://www.bloomberg.com/news/articles/2023-06-29/how-german-landlord-adler-ended-up-the-target-of-a-seven-country-raid

[kooba] 20/5/2024 18:03

Disagree on all that as it goes.He was investigated for 10 years on the circumstances around his personal bankruptcy , less than a year ago there was a massive raid on Adler and connected companies and Cevdet Caner himself into fresh investigations..a very significant case by the looks of it.https://therealdeal.com/national/2023/07/01/police-raid-adler-real-estate-offices/No red flags there!Oh and I said a bankable feasibility study nothing to do with hedging so don't misquote.And a 25% shareholder and primary debt holder does play a part in the management of the company..if you think they don't it's a bit naive. Look at the situation with Adler he is clearly being accused of being a shadow director..so whether on the board or not he has a considerable level of control.

[investorman33] 20/5/2024 16:39

Kooba

The article you posted was 2 years old and refers to events before then. As I understand it there was a court case again about 2 (or maybe more) years ago when Caner found not guilty.

Caner has not been found guilty of anything as I understand it (I've looked at everything I can find on the internet) and nor are there cases pending so he's innocent

He's not taking any part in the management of PXC either, so he's pretty remote to PXC anyway, just providing finance in the form of a bond.

Your opening para is incorrect btw. Its only banks who demand you hedge your production (typically at a discount to today's price, so copper might be at $3.80/lb for example) plus raise a chunk of new equity before they will provide a mining finance deal who demand a 'bankable study' is produced at great cost. Having been there before with those banks, their chief interest is in the money waterfall which ensures most money goes to them quickly to pay off the loan asap. And until the 'mining finance loan' is fully paid off its like being in a financial straightjacket - any unexpected issues crop up and it can get very difficult.- bonds do not put you into a straight jacket, gives you lots of flexibility to deal with most unexpected events until its repayment time (but that's years after being in production, so plenty of time to get cash together to repay.

There are now (thankfully) more options to avoid traditional bank mining finance deals which are better for shareholders of smaller mining companies such as PXC - one one of the advantages of the bonds is they may not require repayment for 10 years (bondholder can redeem after 6 years I think).

[investorman33] 20/5/2024 16:06

pjackson

I suspect you will need to buy an ADR through a US broker - in effect its a 'bundle' of (I think its 5) PXC shares per ADR.

[trad3m3] 20/5/2024 13:34

It's very very simple. You have no idea hahahaha! Viva Aqua Regia ! LOL

[kooba] 20/5/2024 13:26

Well normally no one will put the funding up to develop a mine without a bankable feasibility study in place and every small detail including permitting ironed out and fully planned and funding itemised to be able to make an investment decision ..here we have a gentleman who has a colourful background in property who just seems to have gone , ok go on then I'll give it a whirl without any of that normal pre development work done ..so either the company are lucky to find such a carefree investor or there could be problems if /when there are any permitting issues , delays or changes in what they have been told in costings. Hopefully goes more smoothly than any venture i can find this investor has been involved with and history does not repeat itself.https://moneyweek.com/investments/property/605113/the-curious-case-of-struggling-german-property-group-adlerAnd this was before the recent raids on his offices. Unclear where his money has been made as these two companies have crashed.

[rainyrain] 20/5/2024 13:12

Reading the LSE board they all seem to think that the PFS is the 'be all and end all'......I'm wondering if they know what 'pre' means? Because I believe it to mean 'before' the real study?

Are the company planning a definitive feasibility study?

Does anyone think it's a sound idea to build a copper mine off the back of a pre study? You know copper processing is not easy, right....right? ROFLMFAO! All imho!

[pjackson2] 20/5/2024 11:43

Can these still be purchased through that USA broker.

[klondykejohn] 19/5/2024 23:43

I don`t think that they will retain much cash. They will probably only drawdown as and when neccessary to cover the interest payments as they land, which isn`t a huge chunk of money.

[kooba] 19/5/2024 12:05

Might indicate they have some economics to add to the mix before doing a presentation ? And perish the thought a firm timeline to when they see production starting and therefore some cashflows to service the debt. Its all very well saying they are going to borrow more than they need for capex and sit on the money in escrow to pay the interest ( seems a bad idea drawing unnecessary funds at 8.5%+ and putting the money on deposit earning far less ..why not a drawdown when needed?? )for a few service payments but i have never known that to be a particularly good strategy without having a very firm timeline on how long you are going to need it before you can service interest payments from income. Surely they have a date in mind to have been able to calculate the affordability of the finance.

[davidosh] 19/5/2024 10:00

There is an amazing line up of speakers and companies exhibiting and presenting at Mello2024 in London on Wednesday and Thursday this week including Phoenix Copper so do come and visit. Hundreds of investors and great for networking



If you have never been to one before then use this code NEW2MELLO24 for a £30 taster ticket and you will certainly feel it was worth the visit.

[rainyrain] 19/5/2024 09:02

Listen Kiddos I suggest you stop worrying about me and start thinking about if this proposed mine will ever get permitted!

What happened to the plan of operations the submitted a few years back?

Are the local community on board? Remember it's just a stones throw from a town, Kiddos! It's social, social and social again when it comes to building a mine! All imho DYOR!

[klondykejohn] 19/5/2024 08:27

Agree,RP.
He is just another clown trying to undermine confidence in the PXC share price
Best to get him filtered out.

[retirementplan] 19/5/2024 08:17

Rainyrain: on 16.5.24, you wrote, "For me personally, it's way too risky, so as they say on Dragons Den....I'm out!"

252 posts since you created your new avatar on 2.3.24! An impressive, but sad, feat. Please follow your own advice.

[rainyrain] 19/5/2024 07:27

I believe the CEO of Marula mining was on about copper cementation. I follow the company purely for comedic value, as there's nothing funny on the telly anymore. They were supposed to be up and running with some kind of copper 'plant' already, don't know how that's going, but the photograph of this 'ahem' plant looked like a few kids plastic snooker tables. I think they're just selling rocks to honest as I can't figure out what any of their numerous 'plants' actually do ROFLMFAO

[rainyrain] 17/5/2024 17:18

Thanks for putting some meat on the bones Pondy. Best of luck 👍 stacking pure copper on site is a beautiful sight, especially if each stack sells for $15,000