Phoenix Copper Share Discussion Threads

[bukowski750] 07/6/2024 10:42

OK Paul. If there's this sulphide jewellery box sitting underneath Empire, how come none of the big boys or even mid tiers haven't even bothered to look for it?

[greyingsurfer] 07/6/2024 10:33

Pretty sure I haven't! I know it's been suggested by some that some form of preliminary results should be released, but it's always been clear the report will be compliant.

[warm norm] 07/6/2024 10:13

Try using a dictionary next time you publish your drivel bukowsky. It's "compliant," not "complaint."

[paulhopeful] 07/6/2024 09:59

Still time to buy in Rainyrain, The oxides are just the starters.. Sulphides Are the main course, Watching people trying to deramp Is the cherry on the top.

[bukowski750] 07/6/2024 09:41

Can't read what?

[ih_667772] 07/6/2024 09:40

Another clown to filter who can't read

[bukowski750] 07/6/2024 09:10

So share with us the compliance status instead of trying to be the forum edgelord.

[bukowski750] 07/6/2024 09:09

I'm pretty sure I read DP on LSE saying they may not do a NI 43-101 feasibility study.

[greyingsurfer] 07/6/2024 09:06

Perhaps one of the reasons you got the response you did was that the reports compliance has been stated many times.

[bukowski750] 07/6/2024 08:50

For the record 'guru' i don't want my posts to "effect anyones investment decisions" as I post purely for my own personal education and entertainment purposes.I think it's a fair question regarding a complaint feasibility either through JORC or NI 43-101......as imho nobody will take the report seriously if it's not complaint. It's a bit like turning up at a Ferrari convention in a Vauxhall Astra, or turning up at a fancy West end nightclub in a three stripe tracksuit. IMO-DYOR.

[bradders51] 07/6/2024 08:32

What a wonderful thing is the filter button.

[investmentguru] 06/6/2024 19:04

The thing that makes me laugh is them imagining that their posts have any effect on other peoples investment decisions...

[bukowski750] 06/6/2024 17:53

Make that 12 posts mofo!

[retirementplan] 06/6/2024 17:07

Bukowski750: which one are you? rainyrain?? 11 posts today with your brand new shiny account! At least we only need to put up with you for a while, until you change your account name again 😉.

[bukowski750] 06/6/2024 15:25

Is the PFS going to be NI 43-101 compliant ? Or PoundLand, corner shop compliant ?

[donald pond] 06/6/2024 07:15

Bsg makes the point about the open pit at Empire having to do more than just "wash its face". While I am confident that will be the case, the real upside for PXC has always been the potential of the whole site and in particular the sulphides which extend over a 5km+ strike zone and were producing 6-8% grades a century ago. If the open pit allows us to pay interest, repay debt, fund a full exploration and feasibility study into the sulphides and make some profit, that is brilliant. It is the sulphides that is the big prize. The oxides are, geologically speaking, the cherry on top of a very big cake. But the cake is the main attraction

[metriccat] 05/6/2024 19:13

I am closer to £2 a share when I view the potential once producing. Certainly positives being generated around PXC. Curious to see how the market responds to the first $5m as it should be a good key indicator for future progress.

[cromw3ll] 05/6/2024 17:05

And 250m shares at £4 will make this a £1billion company when production up and running.

Doomsters need to suck it up and move on.

[bsg] 05/6/2024 13:38

They then have to mine it making more than just enough to wipe its face. Which seems a hard thing in my experience.

[retirementplan] 05/6/2024 13:37

What an annoying platform that doesn't let links be shared with ease. Anyway, here is the text from the AIM Journal:

Copper bond
And so, in the context of all this it was interesting to see the recent issuing of a “copper bond” from Phoenix Copper. This is a now-rare instance of a financial innovation generated in London, specifically by Richard Wilkins, the company’s chief financial officer.

Wilkins has long experience in the mining sector, and knows well enough the challenges posed by exploration, by construction, by mining, and by fundraising. If you’re trying to do any or all of them in a market that is sceptical of your sector and apparently unwilling to wake up to the potential of a bull market that is already in full swing, hell, yes, you’d better be innovative.

Phoenix has raised US$80m through the issuance of bonds to a European private equity investment company. The idea is to provide enough funds to undertake and complete construction of the company’s Empire mine in Idaho. So far so good.

But bonds at the smaller end of the mining sector are usually convertible. Phoenix’s bonds aren’t, so shareholders don’t need to fear a massive flood of dilution at some unanticipated future date. Bonds in the junior mining sector also often carry a hefty coupon. There’s a case that these bonds do too, but the key here is that the coupon is linked to the higher of either the LME copper price or the US Federal discount rate.

The coupon goes higher if the copper price goes higher. But of course, if the copper price goes higher, Phoenix as a business does better overall. So, this is intelligent thinking, or the type of deal we all need: one where both sides benefit.

Not every company has an American mine ready to build, or a board sophisticated enough to put together US$80m in non-dilutive innovative finance. So, it remains to be seen whether the copper bull market will really take hold on AIM.

There is potential. The likes of Arc Minerals, Atalaya, and Great Southern could rise with all boats. But so far, the share price performances have not been spectacular. Alastair Ford (Alastair@ ofabarconsulting.com)

[retirementplan] 05/6/2024 13:33

Agree SportB. Sometimes a little praise might be due. You'll have seen this already. But for those that haven't, see pages 9 & 10: [...]

From the 'lose you capital' & 'diluted to oblivion' perspective, this is derisked IMO. The cash is there, the mine is being built, the license is a known process to work through & we will be mining by H126 at the latest. Likely late 2025. And who knows if there is M&A action along the way?!

[sportbilly1976] 05/6/2024 13:15

QS,

These were known about from the rns on 15th May...fully diluted PXC will have c.250mln shares in issue come production

[qs99] 05/6/2024 12:46

At this rate with fees etc continuing to be paid in shares, how much will current shareholders be left with???!! DYOR

[kooba] 01/6/2024 08:21

Thanks kj ..i note some further detail on LSE board by poster aka DP. There is obviously a juggling act going on at the moment in terms of disseminating information. Will indeed sit tight and wait for a more complete picture hopefully over the next few months.