Phoenix Copper Share Discussion Threads

[boonboon] 21/5/2024 13:46

I was replying to Donald saying if we'd prefer paying an extra $4million or issuing the shares. Implying the shares is best for the company. I think the best for the company would have been paying the $4 million.However the investor has us by the short and curlies and I expect he was insisting on shares.I'm just not sure why Donald won't just say that.

[boonboon] 21/5/2024 12:27

I would have prefer a $4m payment possibly using the Riverfort facility rather than a 25% dilution.If this becomes a $1 billion company as directors believe then they've just given away $250 million rather than paying say $6 million after interest payments.When all is said and done we'll be diluted by about 100% since the directors first mentioned minimal dilution.

[kaos3] 21/5/2024 12:07

I am convinced that benko and cevat are the most honest and respectful people and operators and am sure that pxc will prosper hugely. all the future of copper pxc innovative metals extraction, innovative bond finances will make huge fortunes
both highly respected and having dinner with president
hxxps://x.com/FabioDeMasi/status/1448721427432198148

[kaos3] 21/5/2024 12:05

julius baer /swiss bank/ benko and cevat

[kaos3] 21/5/2024 11:48

if one likes to read novels ... study rene benko and who financed him at his stellar rise beginnings and how it is done. better than fiction

... then put rene benko and caner and adler into the same search

[kaos3] 21/5/2024 11:43

as I speak german ... gtranslate

An insider reports to GoMoPa that this is a major business scam by Adler Group SA and its Austrian transaction leader Cevdet Caner (© press photo Aggregate Holdings SA, Luxembourg).

Cevdet Caner (49) from Linz in Austria is considered a shadow boss and is an indirect partner in the Berlin-based Adler Group SA © press photo Aggregate Holdings SA, Luxembourg

The alleged scam: Buy as many projects as possible. Sell ​​as many apartments as possible in advance. Borrow as much money for construction from investors as possible. Don't finish building, file for bankruptcy and, in a final stage of exploitation, buy the project from a new company for an apple and an egg in order to play the game again.

[kaos3] 21/5/2024 11:29

so - on the whole world we got money from mr Caner

who has a history /by public info/ of influencing the management but not being officially involved and so liable

and an event can trigger /non payment due to real life circumstances/ could trigger loss of the bond financed assets and all the work and the money being put into it from the start with it from the beginning - to mr Caner

I must be getting it wrong somehow

[donald pond] 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.

[copper copper] 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!

[bsg] 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.

[kooba] 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?

[donald pond] 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?

[kooba] 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.

[zb27] 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

[donald pond] 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?

[sportbilly1976] 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

[kooba] 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.

[juju44] 21/5/2024 08:51

Rip off bonds not impressing the market

[sportbilly1976] 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.

[rainyrain] 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.'

[paulscb] 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!

[kooba] 20/5/2024 22:32

It's all about risk against reward ..don't overlook the risk in that equation.