Phoenix Copper Share Discussion Threads

[thecoyone] 24/4/2020 09:13

Have placed a limit order at 10p but cannot get it filled.

These under radar stocks can offer great returns, fall from mid teens looks well overdone.

[dave4545] 24/4/2020 08:56

Back to full 10p offer

Thought that day would never come when people were selling as low as 4.5p recently

[aussiebeach] 24/4/2020 07:38

At the time of this announcement in October the shares were trading around 17p, the current 9p price represents a great entry point.

Phoenix Copper report identifies high-grade mineralisation at Idaho prospect

[investorman33] 23/4/2020 23:18

Pants



Worth saying that in the long term silver prices tends to follow gold prices, so with gold prices being re-rated that will also feed through to silver prices.

Only reason that the silver/gold price ratios is not closer is that silver in addition to being a precious metal (ie store of value) which is gold's main use it also has wide use in industry (used to be mainly photography but now much wider) and medicine - topically viruses cannot survive on either silver or copper.

And in short term silver will be Phoenix main revenue stream, so the knock on effect of re-rating gold price should be very positive for silver when its being produced.

[wealth_creator] 23/4/2020 22:04

Useful summary

[zaphod99] 23/4/2020 21:55

https://www.kitco.com/news/2020-04-23/Silver-prices-to-push-towards-20-in-12-months-Bank-of-America.html

[meanreverter] 23/4/2020 19:41

Pantsonfire: The gold is at a very low grade (0.28 g/t), and contained in the 0.49% copper ore. The plan is to heap-leach the ore with sulfuric acid. This will extract most of the copper and leave the gold in the tailings. To extract the gold would require cyanide in a separate (expensive) plant, which simply wouldn't be economic even on a much larger scale at this grade — let alone any consideration of how the extra capital might be raised.

That said, I still think that PXC is great value at 9p. I would buy more if I had the cash right now.

[observer007] 23/4/2020 15:40

I sense a full on share price rebound in the offing + hardly anything available online.

I noticed the shares were taken down from 15p on very low volumes, worth noting !

[space_dust] 23/4/2020 15:11

Accumulate quietly and reap the rewards.

The recent premium $2m raise at 15p a share says it all, no idea why it is trading 6p below that, they are well cashed up and only selling on a EV of £2.5m.

I suspect the market makers have no shares on book - makes the rebound even more dynamic when it comes.

I am surprised the traders have not latched onto this.

[deuchar] 23/4/2020 12:46

As I have said before this is a 10-20x bagger over 2years

[aussiebeach] 23/4/2020 12:42

The reason the spread is wide is due to low volume, this will narrow quickly if interest returns as I suspect it will.

Low liquidity gives early entrants a great chance to benefit from the upside which will happen, this could return to 15p+ in a flash.

[dave4545] 23/4/2020 12:30

Shame the spread is always awful

8.04-9.89 I mean come on

You cannot trade this stock, you either believe the story and can hold for a while or do not touch it. Needs a 20% rise to break even when you buy

[zaphod99] 23/4/2020 12:28

Silver commentaryhTTps://www.kitco.com/news/2020-04-22/Investment-demand-to-drive-silver-price-to-19-World-Silver-Survey-2020.html

[observer007] 23/4/2020 11:55

This has attracted my attention and looks like a full on recovery play.

Currently valued at only £4.5m with a full treasury of $2m recently raised at 15p.

Phoenix operates in a stable country (USA) with excellent in country experience. I note they aim to generate circa $40m in annual revenues from 2021.

The market is a forward indicator as such it will soon be falling over to buy PXC in my considered opinion.

Even from a short term perspective traders could target 17p reached in late Q4.

#gold #copper #silver #lead

[goldrush] 23/4/2020 11:05

Well done....the market does not often give you those kind of trades !!.....Buys are now 8.80

Edit.....price strengthening....8.80 gone now 9.00 or just under....

[dave4545] 23/4/2020 10:53

goldrush

For a short time it was 8.1p to sell 8p to buy so I had a bit of fun and sold 30k and bought them straight back for £22 profit as I pay £4 charges

[goldrush] 23/4/2020 10:47

dave4545

Nice to see that things are moving ahead.....it was only a matter of a bit of time.....0.50 a day share price is OK for me and a short term 15p target where February money was raised would get us back to first base ....for drilling results to then push us upwards.....IMHO

[dave4545] 23/4/2020 08:43

Something has happened this morning.

I'm getting 8p bid and mid price to sell

It's also 8p to buy online

So 7-9p screen but 8-8p online, if the mm's are letting you sell at 8p then I feel there is either a big buyer order or a big delayed buy at a premium to show later

[pantsonfire] 22/4/2020 20:29

and did anyone see the piece in Bloomberg with the gold forecasts, from Bank of America. They wrote "Gold to Reach $3,000—50% Above Its Record, Bank of America Says".
From the Annual Report, it states for the Empire Open Pit mine that gold resources estimated from their drilling to date are 136,552 ozs. That's $410 million according to my calculations. That's crazy. Is this the best kept secret around?

[investorman33] 22/4/2020 13:44

Pants - Thanks for posting.

Did you see Zaphod's post from end of February :

'The 21 holes targeted at Red Star will be drilled immediately on the back of this financing.

The results are likely to be at least as impressive as the initial 3 holes at Red Star that resulted in the focus switching from the Empire open pit project to Red Star.'

I wonder if 21 holes is still the planned drilling program for 2020 - certainly one to ask at the AGM which is in about a week's time - and if it is and the grades are similar to the initial 3 holes and increase the resource, that seems to compute to a mine life of around 14 years @ 155,000 tonnes of ore pa (and US$40m pa at those metal prices). which would surely be a very decent project by itself.

With only a capital cost of U$30m anything over say 3 or 4 years minelife would be a viable project methinks. So even if some of the holes are infill drilling rather than to increase tonnage....its still looking very nice

[pantsonfire] 22/4/2020 12:07

In addition to the annual report, the company issued an RNS on 23rd January, and I cut and paste from that:
“During 2020 the Company plans to complete a drilling programme on Red Star to generate a Measured and Indicated resource sufficient to justify a small underground “adit” mine with a flotation process plant to produce lead-silver, copper-gold and zinc concentrates. The scale of operations will be in the region of 450 tonnes of ore a day or 155,000 tonnes a year. The Red Star discovery is a primary high-grade silver/lead sulphide vein and has, after drilling only three holes, generated a maiden NI 43-101 compliant resource of 103,500 tonnes, containing half a million ounces of silver or a silver equivalent resource of 1.6 million ounces when gold, lead, copper and zinc values are included. The value of the contained metal in the NI 43-101 Red Star resource is US$260/tonne of ore at today’s metal prices, or US$40.3 million a year at a production rate of 155,000 tonnes of ore a year. Capital costs are anticipated to be in the region of US$30 million."
Red Star will start the process, which will generate the funds to move to the larger prospects. This is the start of something big.

[pantsonfire] 21/4/2020 13:31

Yes, deuchar, I also believe when the market finally wakes up the share price will soar, and maybe could move from the present 7p to 70p, and even up to 100p when production starts.And that's less than 2 years by my calculations...

[deuchar] 21/4/2020 11:58

A 10 bagger over 2 years

[dave4545] 21/4/2020 09:24

7.98p to buy now 7.02p to sell

Not a great spread but it never is but the price to buy has increased this morning despite no trades showing

[wealth_creator] 21/4/2020 07:42

Not a time to be out of this Phoenix.