Phoenix Copper Share Discussion Threads

[williamcooper104] 19/1/2024 09:56

Good points though on 1 you would be prejudicing funding if you tell what might be the only investor interested that they are the only investor interested

[greyingsurfer] 19/1/2024 09:51

So because it might frustrate some people you don't do anything.

Yesterday they did communicate. Clearly all that they felt could be communicated at this stage. And look at the response from those now complaining of lack of cummunication?

[haveapunt1] 19/1/2024 09:47

Donald. The company can share. For example:

1. How many investors are showing interest and how many are carrying out DD
2. Explanation why the company issued a two week extension to “conclude discussions” yet they missed all dates. What weren’t wrong and caused such a delay (naive board at best if they are only NOW doing DD!)
3. Options on RF being considered - non dilutive, conversion shares etc
4. Current cash runway (interims said well into 2024 yet there we are looking at a raise end of 2023!)
5. Why did the company target economic model Q4 2023 yet are now looking at some 4 months later
6. Plans it can’t vet bonds away- what are they working on as an alternative


Ultimately you can’t be in advance discussions for 12 months unless certain investors pulled the plug during the period and new ones had to be attracted. The company just need to be honest rather than
Issuing RNSs this week for the sake of it.


All this “nothing to say” is simply rubbish. It’s about communication and courtesy to shareholder, and frankly if they have had nothing to say for the last 12 months I would be incredibly worried at what’s going on behind the scenes re progress!

[copper copper] 19/1/2024 09:36

To be fair to DP, I'd much rather he didn't do presentations. I'd much rather he didn't get paid anything at all, for doing nothing at all. Instead, he gets paid something, for doing nothing at all. In fact, he used to comment impartially, which was probably more helpful that being paid to not say the bad bits.

But don't worry all, as the fact that the shares are available to the American market, will be transformational for the company... time warp!!

And also, Ryan doesn't need the money for 3 weeks.

Oh, and we'll mess around with a few two-week loan extensions to try get buy some time, and get everyone excited.

Oh... and there has been something much bigger than all this going on for two years that they can't talk about... can't wait to hear about it.

[kaos3] 19/1/2024 09:28

Wrong. Communication was evacuated from themselfs

So they pay your money to somebody else to communicate. And he takes the (un)deserved heat?

Wise BOD

[boonboon] 19/1/2024 09:26

So because it might frustrate some people you don't do anything. This was a company with some of the best investor communications I've ever seen, when things were going well.As soon as they've hit some issues pretty much all communication has stopped.

[boonboon] 19/1/2024 09:23

It just comes across that the directors don't want to face tough questions.

[donald pond] 19/1/2024 09:22

We could. But if we can't share the economic model or say anything meaningful about funding it would just frustrate everyone. We will communicate everything as soon as we can. That's what we all want

[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 😉