Phoenix Copper Share Discussion Threads

[soulsauce] 07/5/2024 09:27

donald pond 7 May '24 - 09:21 - 10929 of 10929

Kooba, I understand the frustration but today was significant news.

Unfortunately the share price action suggests otherwise :-/

[donald pond] 07/5/2024 09:21

Kooba,I understand the frustration but today was significant news. Let's see where everything stands by the time of the AGM when you can ask questions to your hearts content

[kooba] 07/5/2024 09:13

DPReferencing your post Paul (DP) posted on Telegram on 25.4.24:"We are aiming to get a PFS out asap. In the event that we cannot finalise the whole thing we will certainly publish a resource statement and an economic analysis (which are the key parts of the PFS) in the next week or so. We are aiming for an AGM on 22 May but that is not yet confirmed. We expect to be in a position to talk freely about both the resource and our plans to fund, develop and profit from it, at the AGM."You said a resource statement rather than a PFS as the company had promised..and bingo..but you also said there would be an economic analysis too...where is that? Do you not think since the company has missed the timeline set and is now drip feeding parts of what would form part of a PFS that the company should clarify when they will deliver this key document. It is a necessary piece of work that i see as an absolute minimum level of DD that any funding will require to be able to make an investment decision on the project ...so delays in providing that create delays in the much anticipated development funding.PFS delayed it seems Results delayed it seemsAll information posted on social media by you rather than shareholders being correctly informed by the company.

[sipptrader88] 07/5/2024 08:54

FWIW My posts on LSE today.....


"It's hard to know exactly the size of the operation that would result from reserves worth in total £ half a billion (or so)......and what operating profit or net profit would result etc. .....

but very very roughly I see minimum circa revenue of £20m per year and perhaps a net net profit of minimum £5m per year to be used for further exploration.

I would have thought the market may value us nearer the £35m at present which is a bit disappointing for me as I saw higher in my mind...but hey ho....it would still be a leg up from here.....perhaps 23p SP?????

Purely my thoughts based on peer valuations I quickly did on some juniors and seniors on a relative % basis this morning...probably well off....too many unknowns at this stage.

All IMO only."

"P.S. I would have thought the BOD would need a market cap in excess of £50m....rather than my £35m.....so we'll see what analysists say!!!!"

GLA

[3weeksorso] 07/5/2024 08:39

Absolutely chill y'all, funding is 3 weeks or so away, the PFS will be with us end of Q1 and there won't be any dilution, certainly not at multi year lows, all is good in the pxc hood.

[klondykejohn] 07/5/2024 08:38

Early indications are that the share price isn`t moving much.
The big question however is when will the bonds be agreed and signed off?
I would add to that that we also need to know how profitable the mine will be, not forgetting permitting etc, etc.
Still so many loose ends to tie up by the Board.
Huge salaries, huge vacuum of essential news.
Let us hope that by early quarter 2,(almost middle now), some extremely positive news flows arrive.

[kaos3] 07/5/2024 08:31

On such a good pxc day no bad vibes needed imho

[sportbilly1976] 07/5/2024 08:30

haveapunt,

sell up then...you clearly don't want to be here.

[rainyrain] 07/5/2024 08:29

If the big prize is underneath Empire why not put a few drills into it and classify it as en exploration target?

It's all well and good bigging it up, in the face of what i believe to be a small and metallurgically challenging project, but how about proving it ... LoL

[kaos3] 07/5/2024 08:24

I am not suggesting anything.

I was asking a question about legal standing and business standing.

But YOU did bring it out unfortunately. Instead of explaining it to me... a gardener

It is a simple question to the industry insider. So i asked.

No high blood pressure needed on such an easy question i would think

Ps for a paralel - auditing itself by an employee with a certificate signing it...

I think it is a reasonable and simple enough thought

[haveapunt1] 07/5/2024 08:23

It’s a shambles. I would imagine it all hinges on the finance and the Board knew this from day one, yet still promised to issue the PFS. We have had a meaningless statement, no PFS, nothing of any substance whatsoever. This sums of the board, they have issued today’s RNS in an attempt to pacify SHs. The PFS needs finance to be agreed is my guess. There is no way we will see a PFS until at best H2. Fact

[sportbilly1976] 07/5/2024 08:20

kaos,

Are you suggesting the competent person and one qualified to sign the resource statement is acting in a non-neutral way?

I would be very wary about such suggestions on a public forum

[kaos3] 07/5/2024 08:14

In manner....

Is what is troubling me.

Is it the real thing? If signed by related person in legal terms.

Not in substance. I have no doubt there.

To ask in a different way

[cromw3ll] 07/5/2024 08:05

Kaos3 - below table of resource breakdown...

"The mineral reserves reported herein for the Empire project have been estimated in a manner consistent with the NI 43-101 Committee of Mineral Reserves International Reporting Standards ("CRIRSCO") of which both the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") and Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code") are members."

[kaos3] 07/5/2024 07:57

Yes - is this JORC signed by related person the real JORC recognized by all market participants?

How does it work...

[amt] 07/5/2024 07:47

Kooka hundreds of millions I should think.

[cromw3ll] 07/5/2024 07:46

Nice start to a Week and month of news

Highlights

· Proven and Probable mineral reserves - 10.1 million tonnes containing:

o Copper - 109,487,970 lbs

o Gold - 104,000 ounces

o Silver - 4,654,400 ounces

· 66,467 copper equivalent tonnes of contained metal



Ryan McDermott, Chief Executive Officer, commented: "I am very pleased to report the first mineral reserve statement for our Empire open pit copper-gold-silver mine. The Proven and Probable reserves at Empire are 10.1 million tonnes containing 109,487,970 lbs of copper, 104,000 ounces of gold, and 4,654,400 ounces of silver, which equates to 66,467 copper equivalent tonnes.

"This reserve calculation upgrades our mineral resources into mineral reserves that represent the economically mineable portion of the mineral resources. The reported reserves are the result of years of exploration, drilling, and metallurgical testing, followed by meticulous engineering evaluation and analysis. It was estimated using assay data from 485 drill holes, extensive geological modelling, metallurgical recovery test work, geotechnical evaluation, and mine design.

"Mineral reserves meet the requirements of geological certainty, accessibility, and economic viability, and are estimated after allowing for mining and processing dilution, and thus represent the recoverable contained metal that is expected to be delivered to the smelter for refining into saleable product to generate revenue.

"I want to thank our team for their tireless hours of work and their dedication to our Idaho project. I look forward to sharing additional updates regarding the Empire open pit development in due course."

[boonboon] 07/5/2024 07:42

Getting paid by the company might be the only way he makes his losses back from selling shares after previously promising not to.

[kooba] 07/5/2024 07:42

What is the fully detailed development cost?
Where is permitting?
What is the NPV and projected cashflows??
Not sure if we are meant to take your word for the economic viability or get some more detail??

[boonboon] 07/5/2024 07:40

We were promised the pfs instead we got this.Yet again the directors are over promising and under delivering.Donald happy to stick up for them as long as he gets paid though.

[donald pond] 07/5/2024 07:37

It is a small project but moving from resources to reserves means that it will be profitable and allow the company to explore the bigger resource beneath while being cash generative.

[bumpa33] 07/5/2024 07:30

Worthless in-house upgrade from resources to reserves, PFS still way off, bonds still mythical.

[bumpa33] 07/5/2024 07:29

Comedy gold…🤣🤣🤣

[kooba] 07/5/2024 07:26

Terminologically..can someone explain the difference
Previously we had from independent consultants Hard Rock in 2020
Measured and indicated

Cu Equiv 172,912 tonnes

Now from the company

Proven and probable

Cu Equiv 66,467 tonnes

Are these like for likes or is there a difference?

Good there is guidance on delivering the PFS expected early Q2 and Results notice..sets out the news flow expected..um.
Resource statements are an important but relatively small part of a PFS which sets out a detailed economic case.

Can kicking.

[rainyrain] 07/5/2024 07:26

Congrats on getting an ore reserves statement DP, a rare thing indeed on AIM!

My only issue is it's only 66,467 tonnes of contained copper, which, let's face, it is hardly worth bothering with! imho!

Asiamet updated their ore reserves last year : 40.8 Mt for 272,000 tonnes of contained copper on their starter project, which is considered small! Well it is small but still circa 4 times the size of Empire. I thought they did everything big in the states?

Entirely my own humble opinion, I could be wrong ot right so please DYOR!