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PXC Phoenix Copper Limited

23.50
-1.00 (-4.08%)
12 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
  -1.00 -4.08% 23.50 23.00 24.00 24.50 23.25 24.50 730,754 16:19:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 0 -1.55M -0.0124 -18.95 29.36M
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 24.50p. 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 £29.36 million. Phoenix Copper has a price to earnings ratio (PE ratio) of -18.95.

Phoenix Copper Share Discussion Threads

Showing 39476 to 39500 of 39650 messages
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DateSubjectAuthorDiscuss
21/5/2024
11:12
Yes, the shares are the fee. That's my point. They aren't "FREE", they are payment for arranging it all. But the truth is that everyone who considered subscribing for the bonds wanted some equity upside. The company entered into the best deal that was available. Look at other resource companies and I don't see anyone getting this level of funding on better terms. Clearly if we had been raising when interest rates were zero - as they had been for years when we were structuring this - we may have been able to get it away cheaper. But we have to operate in the real world.
donald pond
21/5/2024
10:59
I would have preferred a fee. Giving away shares means we are giving away that proportion of all future profits from all other projects also.

To spin it that it didn't have a fee, is just inviting people to point out the obvious!! The shares are the fee!

copper copper
21/5/2024
10:47
I think equity from the start would of been better. One big open offer, get it over and done with then off we go.
bsg
21/5/2024
10:42
DP
As i read it the investor gets given 33.88m shares just on the first drawdown of $5m. And then free warrants linked to further drawdowns.


So they get £6.4m of stock for $5m debt…at that point?

What if for any reason further drawdowns do not happen?
Do they own the shares and the debt still?

Also is there any restriction on the investor dealing in the free shares? Both from the initial allocation and through warrant exercise? If they wanted long term equity exposure as you suggest it would seem perfectly reasonable to issue restricted stock to them.

kooba
21/5/2024
10:28
I would have preferred it was not equity dilutive as the chairman indicated it would be…maybe he was being overly optimistic in what he thought could be achieved..wonder if he could name a small miner that raised alternative finance without equity dilution as an example as he thought it would be the case?
kooba
21/5/2024
10:19
It's only zero cost if you believe $80m could be raised without an arrangement fee. So, a simple challenge for you: find an example of a small cap company raising money without paying a fee? Normally the fee is 5% minimum. Would you have preferred the company I simply paid the first drawdown to a broker as an arrangement fee?
donald pond
21/5/2024
10:09
DP remember this..
The company had told investors it would not dilute their holdings with any further share issues, so it opted for a bond linked to the copper price, Edwards-Jones added.

Just saying.

Issuing shares for 25% of the company for zero cost is very dilutive and the shares are free from a shareholder perspective as there is zero price paid.
Not all bond issues would carry such an arrangement fee ..but as you say this is not normal for a number of reasons.

No good saying that investors should have expected a quarter of the equity to be issued for free as that has never been alighted to in any way by the company until it dropped.

The funding maybe a big positive and get the whole project up and running but the single investor situation and the lack of detail in planning remains a concern for me.

kooba
21/5/2024
10:06
Wow the manipulators still at it.

Why oh why would you keep on typing on a company chatboard when you don't hold a single share LOL

A PE firm just gave $80m to a less than £30m market company.

Obviously all "non holders" have some sort of an agenda here, they always do.

Negative posts will evaporate when PXC starts flying upwards.

I bet the FUD crewe will be bashing there heads here when say PXC start producing, probably saying the copper grades could be better LMAO

You just can't make this xxxx up.

Why not do something useful in your lives, just let go. Life is simply too short. I bet some of you must be eating living dreaming about PXC. What are you going to achieve in life, all this posting for a few pennies for whatever you are 'trying'to do here. Lol

zb27
21/5/2024
09:51
Nobody is blinkered or shutting down debate. Raising multiples of the market cap through debt before a PFS has been published is unusual, and more details will be forthcoming once the AGM resolutions are passedAnd the shares issued were not FREE. How many times does this need to be said? They were in lieu of an arrangement fee (which would have been $4-6m upfront) and one of the terms of the bond. All bond investors we were talking to wanted an equity upside. If you buy 6 bottles of wine at Sainsburys for £50 when they have a 25% off offer, do you think you have been given 1.5 bottles for FREE? Or do you think you have paid £50 for 6 bottles of wine?
donald pond
21/5/2024
09:11
kooba,

"..but i want to keep my eyes open to risks. I have not sold or bought any recently on a risk reward basis."

...and this is the approach to have...however many others clearly have arrived with an agenda

sportbilly1976
21/5/2024
09:06
"Since the bond news dropped, there have cropped up a lot of altruistic / ulterior motive posters on here."Maybe they just don't chug the Kool Aid and have a view?? Seems that the blinkered faithful don't have any answers but just want to close down debate and those with a more questioning nature. Shame really.I have held a position here for a while amongst a copper focused mining spread of investments and i have learnt the best thing to do is adopt a somewhat cynical approach in evaluating mining shares as that is a far better way of managing expectations. The boards can be populated by folks close to the company and often one can get answers to serious questions as well as hearing all the puff. But hopefully things can get fed back to central office when concerns are raised do they may better address communications to their holders.I am not altruistic or have an ulterior motive but i want to keep my eyes open to risks. I have not sold or bought any recently on a risk reward basis.
kooba
21/5/2024
08:51
Rip off bonds not impressing the market
juju44
21/5/2024
08:21
rainyRain - so what price are you trying to get the price to? What's you risk:reward entry price?

Since the bond news dropped, there have cropped up a lot of altruistic / ulterior motive posters on here.

sportbilly1976
21/5/2024
06:04
Retirement Plank: You seemingly think that full feasibility studies are a waste of paper, or bandwidth in the modern era.

I suggest you research 'optimisation' with regards to mine development.

Strewth mate!

rainyrain
21/5/2024
05:50
Good info there kooba, although I found it hard to read through a condition I believe known as 'wincing.'
rainyrain
20/5/2024
23:46
Mr Pond. £80 million and a beautiful no risk interest paid regular. Or he takes the assets. Plus a nice 55 million FREE shares to rinse sucker shareholders in the meantime. Good luck!
paulscb
20/5/2024
22:32
It's all about risk against reward ..don't overlook the risk in that equation.
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.
kooba
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.
retirementplan
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".
donald pond
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?
retirementplan
20/5/2024
21:12
55 million FREE shares bring forward sold already. Oh dear.
paulscb
20/5/2024
19:56
10 shares per ADR, from memory.
retirementplan
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
kooba
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.

pjackson2
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