Phoenix Copper Share Discussion Threads

[jbravo2] 15/5/2024 18:08

According to donald PXC is “likely to get into production with around 250m shares”

Presumably from existing options/warrants etc as well as the deal announced today.

Existing shares = 149m

I then used mental maths. It’s roughly 2/3.
I’ve now checked it on a calculator, it’s 67.8%

[investorman33] 15/5/2024 18:06

Sjthuk

66% probably due to pressing wrong button on calculator !

[sithuk] 15/5/2024 18:01

Jb: how have you (or DP?) calculated 66% dilution?

[kooba] 15/5/2024 17:55

"NIU Invest SE is wholly owned by Mr Cevdet Caner, an Austrian entrepreneur."He's a colourful fellow!Hardly avoiding dilution! But a price to pay for getting that kind of funding..so an understandable ask from the investor. Do they get the initial share issue for just the initial $5m? "Subject to certain conditions being met" ..what conditions not yet met ? Is it nothing material and just subject to shareholder approval to issue all those shares at the short notice AGM, or conditional on permitting or PFS ? Its headed "conditional" subscription would be good to know what it relates to.

[leedslad001] 15/5/2024 17:36

Great deal and remember empire is just the start

[donald pond] 15/5/2024 17:35

The investor ends up with 25% of the company.

[jbravo2] 15/5/2024 17:30

It’s not 25% dilution
It’s 37% on current share count but with full expected dilution it’s 66% as disclosed by donald on another thread.

[investorman33] 15/5/2024 17:26

Now who were all those posters who said PXC could never raise bonds ?

Especially without a feasibility study - and several posters said a full bankable study required too !

Delighted to see those posters were wrong ...... and we do have 80m bonds raised.

A lot of junior miners would kill for a deal like this !

[investorman33] 15/5/2024 17:21

Great deal, even at 25% dilution ( and NO broker fees and NO hedging to sell copper production at low prices eg $3.60/lb as would be found with traditional mining finance provided by banks). I#ll enjoy 75%, no problem at all

Well done BoD.

[investorman33] 15/5/2024 17:16

BSG

The interest is escrowed into a bank account for the next year out of the bond raise (per RNS). The bond money is expected to pay capex and opex into production - but if there is any need for extra money once they have the 80m secured (as PXC has) then believe me its easy enough to place another 5m/10m/20m bonds no problem at all especially with copper at current prices = fantastic yield) and other finance houses would also be delighted to offer terms. The key investor at 80m took time to close, follow on investors are pretty easy !

[juju44] 15/5/2024 17:13

Lousy deal but much better than no deal

[jbravo2] 15/5/2024 17:12

Hmmmm
37%?

[bumpa33] 15/5/2024 17:04

34m new no cost shares + 22m warrants to subscribe at no cost. That don’t look like 25% dilution to me?

[jbravo2] 15/5/2024 17:01

@donald
25% dilution? Steep… but… better than I thought they’d manage.
Now onto the main course.
Permitting.
Any of the conditions for the cash relate to getting the permit to mine?

[lookinggood] 15/5/2024 17:01

Might have a dabble tomorrow

[bsg] 15/5/2024 16:55

How will they pay the coupon in the early years. My bet is by equity raises.

[bradders51] 15/5/2024 16:52

Thanks for all YOUR efforts and posts Donald

[greyingsurfer] 15/5/2024 16:51

Congratulations to the directors. They're well deserved.Looking forward to the other news now.

[greyingsurfer] 15/5/2024 16:49

25% dilution. Not at all bad. And given what you were saying about the company and prospects a few days ago an excellent result. And vastly better than the suggestion some have made about an equity raise that would have been massively dilutive.

[donald pond] 15/5/2024 16:49

Well, I am really delighted, and I hope that everyone has stuck through to the sunny uplands. Marcus and Richard have worked so hard to secure this and I will be toasting their work this evening.
Yes, there is dilution. But, on the other hand, there are no broker fees payable. Normally that would be in the region of $4m payable upfront.
Then it is crucial to highlight that the bonds are not convertible. There is no risk of a death spiral here.
We have taken on a strategic investor who will become a 25% shareholder and plans to support the company over the coming years.
The potential dilution is over 5 years and is totally predictable.
And the rest of us are going to own 75% of the company when we get into production.

[haveapunt1] 15/5/2024 16:46

Your forgetting 34mil new shares also issues and 22 mil ish warrants that will all have a massive impact. Great news and I can
Now get out, but it isn’t as great as portrayed if your actually read the terms and the RNS

[zb27] 15/5/2024 16:43

Start deleting those FUD accounts

After a million a one posts by certain characters.

There we have it.

[haveapunt1] 15/5/2024 16:43

A lot of new shares issues however

[greyingsurfer] 15/5/2024 16:36

"Phoenix Copper Ltd (AIM: PXC, OTCQX ADR: PXCLY), the AIM quoted USA focused base and precious metals emerging producer and exploration company, is pleased to report that its corporate copper bond issue (the "Bonds") has been fully subscribed for a principal value of US$80 million (before Bonds issue expenses)."Well done!