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PXC Phoenix Copper Limited

11.875
0.125 (1.06%)
12 Apr 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 Shares Traded Last Trade
  0.125 1.06% 11.875 968,357 11:46:34
Bid Price Offer Price High Price Low Price Open Price
11.50 12.25 12.125 11.75 11.75
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec -1.55M -0.0124 -9.57 14.83M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:37:58 O 250,000 11.92 GBX

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Date Time Title Posts
13/4/202415:42Phoenix Copper (PXC)10,646
13/4/202211:42Only worth 3.75p on fundamentals8
28/1/202121:09Pipex - Wimax - the next telecoms revolution28,146
08/8/200711:09OO7 FOR YOUR EYES ONLY6
27/7/200718:18Is Pipex the next gutter stock !36

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Posted at 13/4/2024 09:20 by Phoenix Copper Daily Update
Phoenix Copper Limited is listed in the Miscellaneous Metal Ores,nec sector of the London Stock Exchange with ticker PXC. The last closing price for Phoenix Copper was 11.75p.
Phoenix Copper currently has 124,928,622 shares in issue. The market capitalisation of Phoenix Copper is £14,829,027.
Phoenix Copper has a price to earnings ratio (PE ratio) of -9.57.
This morning PXC shares opened at 11.75p
Posted at 05/4/2024 07:44 by sipptrader88
Indeed to an extent....yes....I "consider the share price reflects the risk /reward correctly". That is what the market is valuing PXC at!

Personally I feel 20p would be about right....but my 20p view means little at this stage....whether possibly or not right....all it does do is highlight that 12p or there abouts gets an investor a lot more shares for a modest investment...than when I was buying at 46p!

I agree we need some expectations to be delivered pronto and I think by June '24 we should be in a better place with all these 13 week hints in the RNSs!

Signing out for now until then or on prior news!

GLA
Posted at 04/4/2024 20:43 by sipptrader88
It's really quite simple/easy....the tortoise won the race! FULL STOP.

.....by processing all cu/au/ag at once (although starting later)....and causing frustration with retail investors..(because these R.I.s choose to not "DYOR" properly to get a handle on the strategy and why apparent slipped timescales etc.) makes great sense!

.....more money/revenue will come in sooner than individual steps....and your share price should/will reflect this....when the market properly understands!

IMO if you have any further "thoughts" and "concerns" reread this post repeatedly and/or contact the BOD...even read ALL previous RNSs....and get up to speed!

...don't be surprised if your reaction leads to uncontrolled purchase of PXC....but try not to buy OTT....lol!
Posted at 23/3/2024 11:07 by colsmith
The link suggests that if PXC can get the red stuff out the share price will fly. Probably not saying anything that most on this tread know but interesting with the Link to TESLA supply access.
Posted at 07/2/2024 12:04 by donald pond
On convertible bonds, the point is all about the conversion mechanism. The value of a convertible bond is determined in part by the conversion rights, and they are only valuable if they enable the bondholders to convert and then sell shares at a price that covers the capital of the bond and the interest being foregone. So in the case of PXC, we have said we are looking to raise upwards of $50m. Let's say we want to raise $75m/£60m. We would have to give rights that allow the bondholder to convert to raise that amount. The current market cap is below £25m. We could only allow conversion if the share price was say 30p, but even then, that would require the creation of 200m convertible shares. So we would be giving up around 60% of the company, and not for very much, as any investor would say the conversion rights are so far out of the money that it only justifies a small reduction in the interest rate payable.
You might say "I don't care if the share price gets to 30p", but the flip side of that is that once it gets to 30p, if the bondholders convert in the way I explain, it will make it difficult for the price to get much higher. If it went to 40p after conversion, it would have gone to 60p without. Etcetera. That's why the company are doing their best to avoid dilution.
And if we make it so that it is only convertible after 5 years, the investors will say "that's a heads you win, tails we lose option" so thanks, but we aren't going to give a discount for it. There's no free lunch in this game.
Posted at 28/1/2024 12:25 by papillon
free stock charts from uk.advfn.com


PXC log chart showing EMA's. This chart turned bearish around 18 months ago and going by the EMA's shown has never turned bullish since despite a couple of big bounces in the share price during that time that have proved to be dead cat bounces.
This chart is a factual historical record only. I don't pretend to be Nostradamus, though this chart doesn't look promising!

PS PXC is one of the few shares I follow. Why do I still follow it? Because I did have a small sum invested in PXC. I got rid of them back in either late 2021, or early 2022. Why? Too speculative for an old man!
Posted at 12/1/2024 08:21 by the_debt_collector
Rather surprised how well the share price has held up given the predicament the company is in with Lanstead and lack of cash in the treasury, they clearly need more money soon enough.

The share price hit 13p in mid November on similar worries.

Director salaries $1m pa.
Posted at 07/1/2024 14:23 by klondykejohn
Good post Boomboom, and it endorses what many of us as shareholders talk about. Whilst I am frustrated at the delay in the bond approval,we are advised that the bonds are now finally in the hands of the regulatory authority which should mean that availability will be very, very soon.
we are advised that PXC are waiting for one signature to be completed. I presume that this is from the prospective lender.
Pxc have also applied for a £300m bond facility{presumably for new exploration, Red Star and Navarre Creek}.
If the bonds are available then as I have previously asked, why are they not put on the open bond market. Surely $100m is not that significant amount in a bond market that is awash with cash.
In the meantime, I will continue to add a small amount weekly until the share price takes off.
Posted at 04/1/2024 13:59 by dougmachin
There was a 3-month extension to the initial term on 23rd June.
Then the next extension was on 28th September, issued with the interims.
Which is after the 3-months. 23rd September would be the 3 months.
So, seems to be some leeway there...

Also, "At the Company's option, the Loan Facility may be extended to 22 March 2024".

So, either:
[1] PXC are about to extend again and RF aren't so concerned about this exact date, as PXC can extend up until the 22 March anyway.
[2] PXC have reached the point they don't need to extend, 'cos the bonds are getting signed........ (I hope).

There's no way that PXC are going to let RF convert, whilst they have control over it (so between now and 23rd March).

I believe that the BoD are doing absolutely everything to get the funding over the line. Whether they can is the (80) million dollar question.

The volume of sells that has knocked the share price down 50% in just a couple of weeks is pretty paltry. Which is why the share price will go into orbit if funding can be secured.

It's certainly getting "interesting".
Posted at 03/1/2024 15:55 by jbravo2
For those who don’t understand how Riverfort will get their money back…

They won’t wait until the end of the term and then convert all the money owed to shares in one lump.
They’d then be left with millions of shares which they couldn’t sell at a price which would get them their money back. It would be too many shares for the market.
Instead they convert a few hundred thousand at the VWAP-10% and then sell all of those. That brings the price down but that doesn’t matter as that also brings down the VWAP for the next conversion which they do once they’ve sold their first conversion.
The ongoing supply to the market forces the price down and the fact that RF keep getting a supply at the new VWAP-10% means they don’t really care about forcing the price down. They just keep getting more and more shares.
Existing shareholders lose massively.

It’s called death spiral financing as several of these loans have seen a share prices collapse to fractions of a penny as the ongoing conversion gets cheaper and cheaper.
Posted at 16/12/2023 03:22 by retirementplan
cu5hty: Extending the initial term of the loan till 2.1.24 was likely to give them the required time to close finance & also gives them wiggle room if there is further slippage, without having to renegotiate the initial term over the festive period.

I am certain that the finance deal will close, most likely plan B. Plan B being an investor known to the board, western money, has visited the site and given his endorsment & wants to invest. Deal is likely to not just be the cash. Until it lands, there will be volatility in the share price, likely on relatively small volume as we know the free float is small.

On 14.12.23, RW wrote the following. I meant to copy it across but forgot as busy at work. Make of it what you will. Be assured that it is genuinely what was written - there are enough folk on here that know, and would correct me if the following quote is not accurate. As always, DYOR.

"I am going to make one intervention.
The RT loan has NOT been extended. It is repayable on 23 March 2024 and that has not changed.
What we have been doing is extending the Initial Term of the loan, not the loan itself. This is important because during the Initial Term RT have no option to convert.
We did not want to find that just as we are finalising discussions with bond investors, RT impose a highly dilutive conversion on us at 90% of the lowest VWAP in the previous 10 days.
I will add that the fact that RT have been willing to ‘waive’ their conversion option in this way reflects our good relationship with them and also suggests that they are confident of us closing the main finance and being able to repay them.
So please when we talk of extensions, we mean the Initial Term within a loan that has not itself been extended"

The penultimate sentence gives me additional confidence. Not only have MEJ and RW expressed their confidence that finance will complete to anyone who has bothered to politely contact them, but RT also seem confident. Remember, RT have options from this loan at 42p, and also options from previous loans (sorry, don't have the price level for the previous options). RT want the share price up, not down, and know it will get there. So my 600K shares are staying put for the big re-rate. I obviously don't know when, but next week looks likely. I'm leaving it there now. GLA.
Phoenix Copper share price data is direct from the London Stock Exchange

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