Phoenix Global Mining Share Discussion Threads

[zaphod99] 01/3/2018 12:10

Director dealing.Executive chairman has bought a few more.

[zaphod99] 28/2/2018 07:06

Acquisition of Gordon Lake gold mine in Canada.hTTps://www.investegate.co.uk/phoenix-globalmining--pgm-/rns/acquisition-of-gordon-lake-and-board-appointment/201802280700041507G/

[zaphod99] 22/2/2018 07:48

Another article on Apple's move to source cobalt direct from miners

[zaphod99] 21/2/2018 15:23

hTTps://www.zerohedge.com/news/2018-02-21/apple-talks-source-its-own-cobalt-price-more-triples

[deuchar] 16/2/2018 17:39

Because it's cheap

[rampair] 16/2/2018 15:51

Unfortunately we don’t know why!

[zaphod99] 14/2/2018 17:19

Fingers crossed that our board have the good sense not to employ children to dig out the cobalt, copper, tungsten, gold and silver.hTTps://www.standard.co.uk/business/london-metal-exchange-won-t-trade-metal-mined-by-children-a3766391.html?amp

[rampair] 13/2/2018 16:50

And Copper showing some liveliness, it’s easy for me to get a bit lost with this share,
There are plenty of opportunities to explore our Sulphide system underneath what is actually a Ten year mine length based on the existing Copper Oxide resource and it’s healthy 49%irr after the Trump tax cuts!

7000 tons Copper per year and its still a £10m Mcap.

I’m not sure exactly how much a heap leach pad costs to construct but as it is a pile of ore with sprinklers of very cheap Sulphuric acid and some Cathodes then I’m expecting a P/E of about 0.5 at the rate we are going.

If that continues then very happy to continue acquiring a nice holding, 😊 in my opinion obviously! It’s a strange old investment world sometimes.

R.

[zaphod99] 13/2/2018 14:50

Broker note regarding the recent cobalt update:hTTps://www.voxmarkets.co.uk/activity/88802

[rampair] 13/2/2018 10:31

Oh great, hopefully it too won’t be carried out by young people - they recover Gold from Pentium processors in India, leaving very unpleasant toxic chemicals.

Far better to wait for US. Cobalt extracted in as clean a way possible!

R.

[zaphod99] 12/2/2018 13:11

Our recent cobalt acquisition looking ever more astute.hTTps://www.bloomberg.com/amp/news/articles/2018-02-12/samsung-sdi-turns-to-used-phones-for-cobalt-as-prices-surge

[snowyflake] 10/2/2018 11:39

Has anyone got access to the ALNC article which was mentioned in the RNS list yesterday?

[zaphod99] 10/2/2018 09:08

Why would they mention it during a presentation?

If pre-IPO investors decide to take a 100%+ profit that’s their choice (it’s obviously not a director) and If it’s been holding the share price back then hopefully the brakes will come off once they’ve finished.

[the_debt_collector] 10/2/2018 08:15

If anyone reads the listing document carefully you will see millions of shares issued circa 2p to early investors (inc directors) pre IPO.

Was at a presentation in Tower Hill a while back and they never mentioned this whilst at the same time suggesting the share price would accelerate, are these early investors dumping selectively I wonder? Probably!

[zaphod99] 10/2/2018 07:37

Interesting piece on cobalthTTp://www.mining.com/bmw-mining-deals-imminent-cobalt-price-powers-report/"The boom in electric cars could more than quadruple demand for cobalt to in excess of 450,000 tonnes by 2030 from less than 100,000 tonnes last year, according to Bloomberg New Energy Finance."

[rampair] 07/2/2018 17:51

Crumbs, it’s almost like they want the share price to go up!
The Directors could do with promoting the company and raising its profile.

Directors buying is usually a good way of doing it, credit where it’s due.

BTW if you are reading this because of the buys, we are a small Copper Gold etc company that is re opening Empire mine in Idaho, it has some excellent Copper Oxide that will produce 7000 tons a year for 10years, plus some Gold byproducts.
The IRR is in the 40’s and although they have only explored 5% of the licence it sits on a literal mountain that is thought to have Tungsten at the core of a Skarn hosted orebody - plus other metals.

Market cap is tiny, and, I’m sure other shareholders will answer any questions
because the dogs won’t walk themselves!

R.

[zaphod99] 07/2/2018 13:02

Further director buys.

[zaphod99] 05/2/2018 23:08

hTTps://www.bloomberg.com/amp/news/articles/2018-02-05/congo-seeks-more-cobalt-market-control-as-batteries-drive-boomCongo Seeks More Control of the Cobalt Market

[zaphod99] 04/2/2018 12:03

Might be best to wait and see what develops regarding the proposed roadshows in US.I'd be surprised if they don't have a strategy and I very much doubt that they're being naive.

[moreminer] 04/2/2018 12:00

Well said Mr Winter. I fully agree!!

[snowyflake] 04/2/2018 11:01

zaphod - I agree with you regarding Ryan McDermott. Local yes and with a lot of experience. Also it is a vote of confidence in the assets that he added to his holding this past week. Good to see that he has slightly more shares than my holding!

Please let be summarise my thoughts.

1. Management. My analysis is that the board have the necessary experience, ability and honour in their dealings to make a success of the underlying assets. I have not researched the history thoroughly, but I have sympathy with Richard Wilkins, the PGM FCO and Roger Turner,PGM operations over the way in which they appear to have been treated when running Oxus, having been successful with Oxus Gold. I also have sympathy for Oxus shareholders like you who have also suffered. I hope that it works out but as with many other situations, authorities often do not assist. That brings me to

2. Jurisdiction. The PGM assets are in a good jurisdiction e.g. Idaho USA. They are not in Africa where I have had success with a sands company (although it was acquired at an undervalue)but lost with two other companies where the assets are in African countries I tend to avoid Eastern Europe.

3. PGM does not appear to be a lifestyle company for the directors.

4. Assets. The underlying assets look sound. There is plenty of work to be done but that work is achievable. The assets are helped by the fact that the historical copper assets are patented and as I understand the position do not need permits in order to explore and produce from them; I may need to be corrected I do not think that applies to the add ons nor the cobalt tenements. I and another investor are concerned about the physical space for the leach procedure.

5. Registered jurisdiction of PGM. This I am afraid is a downside for me. I prefer the companies in which I am invested to have their registered office in England and Wales. The laws of the BVI are different to those of England and Wales.

6. Future capex and financing. I appreciate that it is early days but this is an area where I am not as sanguine as you. Imo one cannot just sit back and hope that gradual news flow will prepare the company for a rising share price. I am invested in another company where I first bought at 5 pence and the price exceeded 25 pence at a point last week. It has similar attributes to my criteria in 1-5 above save that the RO is in England not in the BVI. That company had a placing in December 2016 at 7 pence in which I was fortunate enough to partake to a small extent. An institution came on board at that point. There was a share transaction in June 2017 resulting in another institution coming on board at a higher share price and so on. I have helped see off an analyst who shorted the stock (imo he lost out) and feel very much at ease with the board and a few other holders. All this and the company does not have a DFS yet!!

In my view PGM needs promoting; it needs good communication with loyal shareholders. It is insufficient to sit back and hope that those holders remain holders; after all there has been what appears to have been a flood of sales of stock acquired at the IPO in July. It is quite possible that many at that time bought with a view to flipping the stock but any joy has been limited.

The view of the chairman in the Vox interview with Justin Waite that the company intends to have a roadshow(s) in the USA is in my view naive; some might even think it is a smokescreen for lack of involvement with its UK shareholders. After all I doubt that the board is intending to list the copany on Nasdaq or the equivalent!!

[zaphod99] 03/2/2018 23:04

I suspect it was through Ryan McDermott and the guys in Idaho that we managed to get the cobalt properties. Good to have local knowledge and local influence on board.Not too bothered that the current share price appears to be lower than it should be. It's still early days. I added a few more last week and got more shares for my money as a result. Roadshows and presentations are usually done in the lead up to the bankable feasibility study. That's often when institutional and professional investors take an interest and the share price starts to move.Have patience and trust the management. They know what they're doing.

[snowyflake] 03/2/2018 18:45

Rampair - I cannot find much about Konnex other than that disclosed in previous PGM RNSs but as tribal dance pointed out yesterday, Ryan McDermott the CEO of Konnex and a director of PGM was amongst the directors of PGM who purchased shares in PGM this past week.

A search of that gentleman will throw up information on Bloomberg; bundles of experience internationally and an Idaho local. Ryan is the guy on the ground, say operations director. He should know what there is in the open pit and what has been found below in the sulphides, the logistics for exploration and what is required for a local safety permit mentioned by Dennis Thomas on the Vox podcast.

Also take another look at the RNS of 5th July 2017. There is a reference to two geologists Graham Kelsey and Martin Houlouhis. Houlouhis is a member of the PGM of management. I cannot tell if Kelsey is still involved.

But the company needs promoting in the UK. It would be great if the board and in particular the CEO built as good a relationship with private investors as some other boards. We have some experience of that over the years!! Sensible pis can have so much to offer.