Phoenix Copper Share Discussion Threads

[boonboon] 19/1/2024 09:21

And to be fair it has gone down from $998,282 in 2021Will be interesting to see if there was another drop last year.

[kaos3] 19/1/2024 09:20

I am an interested party too.

Include me

Trash talking kaos3

Being bored

[boonboon] 19/1/2024 09:18

You could have done an investormeet or other presentation after results.

[trader465] 19/1/2024 09:18

Lol he wouldn’t get out of bed for that

[boonboon] 19/1/2024 09:17

It's $764,446

[trader465] 19/1/2024 09:17

How much are shareholders paying DP for his great IR services and communications?

[donald pond] 19/1/2024 09:15

What information do you want? We are finalising a PFS but the regulations say we cannot publish it until it is signed off as compliant. We are 99.5% there but can't legally say anything meaningful until be are 100% there. What can we say about the bonds? We have parties that say they are interested but until they sign and send us the money what can we say?We are working flat out and are frustrated, determined and optimistic. That's all we can say.

[boonboon] 19/1/2024 09:10

Not just hiding behind, but paying an ir who hasn't been able to say anything of much substance for about a year.I think he did one presentation (possibly proactive in January last year) and I think a Mello event.We did get this write up, which made the trip to Idaho value for money. https://www.linkedin.com/posts/paul-de-gruchy-4565a42a_my-visit-to-phoenix-coppers-empire-mine-activity-7114864581474152448-SBBt?utm_source=share&utm_medium=member_android

[3weeksorso] 19/1/2024 09:09

Is that remuneration figure correct? Where have you got that figure? If it is and they are paying themselves eye watering sums whilst only knocking up the wooden barn from Witness and not even buying a shovel then are we being played?

Marcus isn't even contactable, the coward. At least Richard and Ryan have their details on each RNS.

[michaelwhight] 19/1/2024 08:59

DP. We have a project that we have put a huge amount of work into, and yet we cannot update you on it at present. As soon as we can, we will be much more communicative. And until there is something positive to say the share price will continue to fall. Glad I cut my losses at 20p and ignored this spin doctor. I'll come back in if there is some real progress from the BOD but sitting and watching for now.

[haveapunt1] 19/1/2024 08:57

Donald, I totally get that, however in the absence of any NDA I do not see any reason the company can not give more detail than they currently have. I recall similar with a company FRR.

The silence is simply not acceptable. It has become abundantly clear to many holders things are not as smooth as portrayed and SHs are being treated with contempt some may say.

Without any NDA, there is no reason the company can not update holders whilst maintaining commercial sensitivity.

The fact the board take over $1mil in salaries, and have not once offered to reduce this in the spirit of “being in it together” speaks volumes…yet they will raise for working capital which at this stage is salaries and corporate costs only (maybe a small bit on finishing the PFS).

The stock has dropped from 35p to 15p. If the market isn’t telling the board something, holders certainly are, bearing in mind this silence has been ongoing for some 14 months

Hiding behind an IR is not a good look

[donald pond] 19/1/2024 08:49

I don't see any contradiction there.

[trader465] 19/1/2024 08:41

🤷‍a94;️

donald pond - 11 Dec 2023 - 07:18:02 - 9693 of 9835 Phoenix Copper (PXC) - PXC
It needs one signature.


donald pond19 Jan '24 - 08:35 - 10211 of 10212
There is DD going on, which may or may not lead to a positive conclusion

[rackersthedon] 19/1/2024 08:36

DP still plugging this dollop of cow dung

[donald pond] 19/1/2024 08:35

The company can't say anything material at this time but it is no secret that we are working intensively on finalising the fund raise. There is DD going on, which may or may not lead to a positive conclusion. As I posted on telegram yesterday:Now the day is over can I just say, at the risk of sounding trite, that I (and I believe the rest of the Phoenix team) share your frustration at the current position. We have a project that we have put a huge amount of work into, and yet we cannot update you on it at present. As soon as we can, we will be much more communicative. That is why I was brought on board, that is why we had webinars and lunches: we want to have an informed, energised base of share holders. It has been maddening that, for multiple reasons, we have not been able to do much of that over the last year or so. I promise you, as soon as we can, we will get back to much more frequent communication.

[haveapunt1] 19/1/2024 08:26

Retirement plan - I honestly don’t think the RNS needed to say that. It’s become fairly self explanatory in my eyes. They tried to get away without it (hence the missed Q4 dedline), and any savy investor isn’t doing to throw $80mil at a company with assets as security to the tune of more than half the loan value, without a full economic model. I feel the board were very naive here.

As for DP, this is the same guy that said one signiture was required and I’ve also heard from other holders that all emails sent to him and the company they have refused to give details to individual investors and only now via RNS channels

Therefore I would be amazed if he is openly giving this information on telegram

[retirementplan] 19/1/2024 06:30

Nothing in the RNS states or suggests PFS is required prior to bond closure. So those stating this are speculating, and most of them from a position of not holding shares. Make of that what you will.

On a public forum yesterday, Paul stated: "The investor who visited the site in November has sent his DD team over. They will be made insiders and will look at every aspect of the project. They won’t care about the PFS, they can work that out themselves."

Again, make of that what you will.

My opinion (and it is just that): bonds are coming, and the DD team on site supports this; the company is in the middle of renegotiating the Riverfort loan into a larger facility (see RNS from 5th Jan); "by early Q2 2024" means anytime before and up to then. No reason why the PFS might not be available by late Q1 2024.

Anyway. missed all the fun yesterday due to work. Will miss the fun today due to work. This broker (me 🤣) maintains a hold or buy rating, and a target price of £3-5. It would be really good if some of the non-skin-in-the-game traders-wannabeontheBODs would send in their applications for a position with PXC. That way they would at least have some skin in the game and a lovely salary. Anyways, off to work. Will let the real BODs work through the problems and solve them & look forward to the future returns on my long term investment. See some of you in May 2027. Take care! DYOR and play nicely 😉

[williamcooper104] 18/1/2024 23:46

My problem is that the RF loan now looks like it's on demandWhy not term out the loan to March and then agree the new enlarged facility Only conclusion I can draw is that either it's stark incompetence or else they weren't able to extend the RF loan and now RF are turning the screws on a new facility Meanwhile the economic plan which it now seems is likely to be needed for the bonds won't be out until after the RF loan was supposed to mature

[haveapunt1] 18/1/2024 21:26

I think it’s even easier that than saucepan.

In my head I’m applying simple logic again.

We were told the existing facility was not being extended and needed to be rolled into a bigger facility for working capital. This RF loan expires 24 march.

We are now told that the PFS is back on the table to be completed in the spring

For me, it’s clear that they have known for some time bonds will not be issued for a while, maybe logic also suggests that interest has been not as good as expected without the PFS. For me this is schoolboy error number 1. They should have had all this ironed out BEFORE seeking investors. The final PFS is the carrot!

Now they have understood this, the decision was made to enter a new RF facility to keep the lights on, as the intention is to complete PFS and then go back and try again in the summer (hence the new need for more working capital).

My frustration is (as Trek sums up on LSE) is the manner in which the company hides news until the last minute and even now hasn’t been transparent.

Just say we made an error the funders want a full economic model (the norm) so that’s what we doing. Yes price would sink but at least then investors have a clear choice based on facts. As it stands we had investors buying at 30p plus based on hype by the board. This bond issue hasn’t been something that’s come to light the last month! It’s not how it works.

Everything has become second guessing which I don’t like any longer. I mean, how long can you be in advanced discussions!

My guess is bonds with settlement agent, investors what more detail to be tempted, PXC have opted to finish PFS then go try again with more “meat on the bones”. I have no issue with that, but at least don’t treat holders as mugs

Sold out at a heavy loss but will wait until funding now. The closer it gets to march the more likely it’s looking to drop into single digests

[saucepan] 18/1/2024 20:57

I like your TA, papillon.

The big picture can also be interpreted even more simply with reference to the big, two-year, chart in the header.

There are three big peaks: April 2022; Q1 2023; and Q4 2023. They are all DESCENDING.

Same pattern with the troughs. All LOWER LOWS.

Charts usually bottom by forming a base. There is no sign of that yet.

The chart is now closer to making a new "lower low" than attempting a "higher high".

If we then take into account likely news as a catalyst: my gut feel is that the odds favour not good news regarding the bonds, but bad news regarding additional loan funding on unattractive terms, merely to keep the lights on. I think that will precipitate the next lower low.

I may be wrong of course, and no investment advice intended. If I am wrong, I may even be tempted to reinvest :-) However, this analysis has a lot to do with why I myself am currently on the sidelines, along with the continued over-promising and under-delivering.

[sipptrader88] 18/1/2024 20:45

when you say "future direction" papillon.....you can only mean "immediate future direction" ??

Hare and tortoise analogy....regardless on "WHO" is calling the shots!

I'm happy!

GLA

[papillon] 18/1/2024 20:30

The TA has already "worked" twice over the last 2 years as shown by the position of the EMA's, RabidDog. Look at the chart again. The EMA's have not been shown to be a "false" prophet.

PS all companies, big, or small, are ultimately "100% news driven". The likes of big banks such as RBS, HBOS, Lloyds, etc, showed this during the 2008/2009 credit crunch.

[rabiddog] 18/1/2024 20:21

Yep, but a company like PXC is 100% news driven. I like TA, but this use case is not applicable.

[seagreen] 18/1/2024 17:03

skip post 10191 tis what I think but Mr Maximize he say no

[haveapunt1] 18/1/2024 15:10

Well I am now out, at a loss. I have faith in the project but it feels too much like more is going on and bumbling along without much of a plan. Will reconsider position on clarity, but for now it’s about protecting capital and not witnessing another SXX or SML fiasco