Phoenix Global Mining Share Discussion Threads

[zaphod99] 22/1/2019 11:14

Barrick swims against rising tide of resource nationalism in ZambiahTTps://www.businesslive.co.za/bd/companies/mining/2019-01-21-barrick-swims-against-rising-tide-of-resource-nationalism-in-zambia/

[zaphod99] 22/1/2019 09:50

Zambia, the second largest copper producer in Africa becoming less attractive for miners like Barrick, Glencore and Vedanta.hTTp://www.mining.com/barrick-mulls-selling-zambia-copper-mine-higher-taxes/

[deuchar] 16/1/2019 20:55

10p here we come

[the_debt_collector] 16/1/2019 19:56

It is a fact of life that these juniors enter the market significantly under capitalised - this was always a slam dunk short - I can see this dropping further.

It will be easy to close any open short via the next placing.

More dilution is nailed on.

[deuchar] 16/1/2019 08:38

They are still destroying shareholder value

[zaphod99] 14/1/2019 23:54

Been in touch with the company after today's update and following the recent dip in the share price.

All continuing to go well although from what I could gather, there were delays bringing US based investors on board due to compliance and regulatory reasons plus the complexities of setting up brokerage accounts and they ran out of time to get it all completed before the festive holiday period. Sounds like it will be wrapped up shortly. Recent negative sentiment across most markets hasn't helped so the share price has taken a hit recently even though trading volumes have been low.

So we're likely to see US high net worth and institutional clients appear and once the OTCQX electronic trading is fully up and running there will be more liquidity and trading activity over there. Awareness will be raised over in US with some marketing activity.

I get the impression that financing is not going to be a problem and future dilution is likely to be kept to a minimum with much of it being done via debt such as loan notes, rather than equity.

Today's RNS has some interesting pointers on recent progress.

"As reported throughout late 2018, mineralized drill hole intercepts were prevalent in multiple directions outside of the previously modelled open pit mine, particularly to the north in the newly discovered Red Star area. The 2018 drilling programme obtained numerous high grade interceptions, including grades of 12.05% copper, 20% lead, 5.83% zinc, 2.52g/t gold and 580 g/t silver, all of which will be included in the Q1 2019 resource estimate. Known mineralisation now covers a strike length of 3.5 kilometres within the Company's claim block. The April 2018 pit design covered 1 kilometre of this. The Company continues to believe that the Empire Mine Project, including the historically mined high grade underground orebody, represents a major mineralised system and will continue to explore the underground sulphide mineralisation potential of the Empire Mine in 2019, whilst looking to consolidate land holdings adjacent to the mine."

Looking forward to seeing the updated resource figures which I believe we can expect next month or soon after. There should be a significant uplift on the previous figures in the PEA last April given the impressive drilling results since then.

[copper copper] 14/1/2019 09:36

Reading between the lines, is this bad due to more dilution, or good because someone big potentially coming on board?

Also, company presentation has a 'January' date on it now, so guess its been updated in some form.

[zaphod99] 14/1/2019 07:14

Phoenix Global Mining Ltd (AIM: PGM; OTCQX: PGMLF), the North American-focused base and precious metals exploration and development company notes the recent movement in the Company's share price.As announced on 24 December 2018, the Company completed a subscription to raise £358,099 at 28 pence per share. Directors and senior management all participated in this subscription. Despite substantial interest, aided by its recent admission to trading on the New York OTCQX Market, the Company confirms that a number of potential strategic and other qualifying institutional investors from the US were not in a position to close prior to the 2018 year end. The Company confirms that it remains in positive discussions with such investors with a view to completing a further subscription during January 2019, as foreseen at the time of the December 2018 close.The Company is not aware of any material change in its business or affairs that has not been publicly disclosed.

[deuchar] 12/1/2019 20:30

Probably right debt collector

[the_debt_collector] 12/1/2019 09:58

The £350k placing in December was curious, they raised £3m in May, must be burning cash, making the usual mistake, pursuing 3 projects when under capitalised.

Money spent on US listing was a waste.

Current £6.5m m/cap looks flashy compared to peers, can see this heading to 10p shortly.

[goldrush] 12/1/2019 09:57

Tribal dance

Well said.

[deuchar] 12/1/2019 07:59

Thanks tribal dance

[tribal dance] 11/1/2019 22:49

Deuchar. Have faith. Two things are sure. Phoenix has an exceptional very valuable project in a great jurisdiction. And the market is lousy at the moment. The former won’t change, the latter will

[deuchar] 11/1/2019 20:27

It's going bust

[the_debt_collector] 10/1/2019 20:26

Last trade at 22p nearly 50% down from IPO.

Still a very long way from revenue and a number of projects to support = more dilution.

Looks like the bears have this sussed.

[zaphod99] 07/1/2019 13:57

“China approves $125bn of rail projects in fiscal stimulus.

Measure to boost economy is latest move to give country breathing space in trade war”



They’re going to need a lot of copper!

[zaphod99] 07/1/2019 08:55

Copper commentaryhTTp://www.mining.com/global-copper-market-supplied-demand-rise-report/

[zaphod99] 07/1/2019 08:46

Another South American country becoming less attractive to foreign miners.No such issues in Idaho, the joint top destination in the world for mining.hTTp://www.mining.com/ecuadors-rising-opposition-mining-may-thwart-exploration-boom/

[zaphod99] 24/12/2018 10:01

Good to see the directors subscribe for almost a third of this placing.

[the_debt_collector] 24/12/2018 07:13

Placing announced with warrants attached !

[the_debt_collector] 22/12/2018 10:53

Never a good sign having Spreadex messing around with your shares.

As expected the move onto the US market has made no difference at all, same applied with CMCL - how much did that exercise cost I wonder?

I did say I would return at 25p a share, could go lower still IMO, more dilution is nailed on.

[zaphod99] 22/12/2018 09:31

The importance of operating in the highest rated mining jurisdictions in the world becomes ever more important as governments in South America, Africa and Asia continue to make life difficult for foreign operators.News items like this are becoming more frequent and there seems to be a clear move towards resource nationalism in some countries.hTTp://www.mining.com/first-quantum-minerals-let-go-2500-workers-zambia-tax-hikes/hTTps://www.thejakartapost.com/amp/news/2018/12/21/indonesia-officially-controls-51-percent-of-freeport-shares-jokowi.html

[zaphod99] 21/12/2018 18:26

Dennis Thomas presentation on Blytheweigh Business NewshTTps://youtu.be/XIxnmDqcEbU

[zaphod99] 20/12/2018 10:28

Copper commentary......hTTps://www.kitco.com/news/2018-12-19/Expected-Supply-Deficit-To-Underpin-Copper-Prices.html"(Kitco News) - Analysts look for copper to start benefitting from a supply-demand deficit in 2019 after being held back during 2018 by issues such as worries about the U.S.-China trade war."