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Post on ADVFN mention that PFS "expected" this month, how many times have we heard that!
I'll believe it when i see it, and it needs to be an actual PFS, not some tosh that's been thrown together into a RNS because the actual final final "final" completed PFS is awaiting a signature from someone on annual leave
Hopefully, we may get a bit of fomo setting in the next few days in anticipation of bond and pfs.
In March ‘22 we were in the 60’s I know, because that’s when I bought in…..
To be frank it would be a massive relief to have the bonds sorted out- June 22 since the engagement of broking syndicate and still we await confirmation. can't remember but we were in the high 30's spread wise.
Also with the bond news, there was a promise sometime ago of a ‘great story to tell’ with rumours of a mine acquisition….wonder if that’s still the case?
With the PFS and Bonds due, could this turn into the perfect storm for PXC? Think we deserve it after all the missed deadlines and promises!!!
I am going by the 26th Jan 24 rns they said completion of PFS by late Q1 and early Q2. I'll happily settle for end of April if they do deliver, after all what is 2 weeks when you have been waiting for years.
I also think the bonds are somehow linked with the PFS. if one happens the other follows quickly thereafter or simultanously.
Yeah we need some solid value enhancing news. Owning this share is draining.
I would think that's rather a narrow definition of early Q2. I would consider early Q2 as April 2024. Bonds are likely before PFS - that way the PFS could be further improved by owning more pre-loved kit. Owned kit can be specified in a PFS; if not own, new cost applied. The ticks up last Thursday and yesterday, with some quite big buys (not mine as not trading this), suggest news might be forthcoming.
Posted on Telegram yesterday by DP, reposted by me here for those that are interested:
"I expect this month to be very significant. We are scheduled to get the PFS and I expect it will be pretty impressive with the assumed prices on metals, but if you plug in the current prices it will be materially better. It will for the first time give us a solid economic framework to discuss."
Back to waiting patiently. GLA. DYOR.
They said PFS by early Q2- that is by the end of next week- lets see if they do deliver this time.
Paid actor
.....plus SP rising looking good. Get the placing overhang cleared and we should be back towards 40p and beyond in no time. Lots of defining news due shortly so fingers crossed guys ...;o))
P.S. as I said yesterday:-
"I'd love us to get there now and put all this behind us to move fwd. to greater things at depth and wider area etc."
The BOD's goal/vision is a £billion pound market cap. We are £16mmarket cap today (I think fair value today should be more £30m) but even with a further 100% dilution the £1bn would still be around 30 x bagger from today!
We can but dream the vision into existence....lol
happy easter Weekend!
Very pleased to hear that, InTooDeep999.....it is easy to lose confidence from time to time.....especially with so many false dawns.....the times I've loaded up feeling we are nearly there and then almost immediately trimmed back to preserve capital/dry powder...when the delivery hasn't happened........a lot of buying seems to occur when RNS is in the pipeline...IMO..lol and if I'm right....then I could also be right in adding a caveat...(but the content appears always unknown...lol)......It is a shame that some have opted out totally......and mainly on the basis of what we were discussing here yesterday and recently:-
1. so many times many including RightOn saw 20p as the trenches defence line.
2. the BOD always seem to find a way...when it's necessary (I think they're more in control than would appear....always!)
3. There is little risk (10% imo) on the SP medium term and obviously a much higher opportunity of a re-rate as previously discussed (90% imo) at some point. just when???
4. we have been hassled with missed timescales so many times and perhaps this will continue.....but I keep seeing 13 weeks in my head and those warrants extended for 13 weeks now on top of the PFS 13week expectation as discussed yesterday.......who knows? hope so! lol.
I've been investing and trading here for more than 6 years.....and owe it to RightOn's posts and podcasts to have kept me invested (to an extent...the whole time).....I was with OXUS of course, so knew some of the BOD and certainly did not blame them....so yes Phoenix arising out of OXS ashes???
I'd love us to get there now and put all this behind us to move fwd. to greater things at depth and wider area etc.
I hope Plutus1 is still on board and that Trek and BilkosBuddy return to invest here, when they feel the time is right.
Good luck ITD and GLA!
Indeed I am. Waiting patiently. Not sold any.
Hope you're still waiting too....InTooDeep999! ATB
And you were only ever the messenger Stan.......two years ago.......(now Shares in Issue 149.07m
Market Capitalisation £16.03m) then your post Stan.....:-
"RE: No surprise to see 6 Mar 2021 09:36
This is a post from Richard Wilkins (CFO) in the Telegram group. Shared with his permission.
Dear All. Apologies if this is a bit long. I know you are surprised at the size of the funding. So were we. We set out to do £10m (pre Open Offer), we were offered £16.45m. A great vote of confidence. Everyone advised us to take it. We expect this to be the last equity raise before production. It might be the last ever.
We are seriously upgrading our share register. We have a number of excellent institutional funds coming on board who will be long term investors. We’ve been chasing some of them for years. But we were too small. Not any more.
To the extent that debt financiers require equity for the construction financing, we’ve now got it, if we need it.
We’ve got plenty for exploration. This summer we will be drilling Red Star, Navarre Creek and the underground sulphides. Fantastic news flow I hope.
This takes the Company beyond a critical mass market cap once the new shares are issued. Upwards of $50m. This opens the door for new investors, particularly in the US.
We consider all of this very positive. Finance to support the construction debt, for exploration, and to up our marketing game.
We always said our target was to be cash generative with approx 100m shares in issue. I think we’ve achieved that. Maybe it’s 115m. So what. It’s better than 200, or 300, or more, like so many other companies.
By the way the £2m debt is repayable in November. Right now it’s working hard on site to keep things going whilst we wait for this finance.
You are all offered the finance on the same terms. We stood our ground and insisted on this. If you want to participate in the Open Offer, just be on the register at COB tonight (the Record Date).
Finally, do you think the BOD would deliberately act to destroy our own value? Far from it. We believe today will significantly enhance our value, once the dust has settled, and the market takes on board where we now stand.
There will plenty of analysts publishing new price targets in the near future, hopefully starting next week. Watch this space."
I'm still watching the "space" ...lol!
It,s got to turn soon Stan? Surely? ATB
Perhaps the PFS being released within the next 13 weeks? unlocks the finance? wishful thinking? all evidence suggests the time scales will slip? or not? ......it all has to turn around eventually! is this happening within 13 weeks? I have never been so in Limbo for so long as here in PXC.....still got my Core Stan....no additions nor subtractions.......just waiting..lol!
That’s a fair and reasonable view, Andrew.
Although my view is ‘when’ the bonds complete…
I think things will start to get exciting as we enter Q2.
"If bond news comes out then this will 5x pretty quickly. If it doesn’t, then we stay in this range until another financing plan is implemented."
The alternative view is that If we can't get the bonds away this time there may have to be more warrants attached or some dilution to ensure the financing does get approved at next go??
If so I doubt we will be stating above 10p
Finance will happen, but at what cost to current sp? Maybe at no cost to sp but that is not certain yet imho
"I don’t understand why people look at this as binary or a coin toss." Your statement is plural StanleyUK.......I think only Yv00 said this @ 0836hrs.
I don’t understand why people look at this as binary or a coin toss. If the bonds get sorted then there’s project finance, or other sources of money.
But the company have said on multiple occasions via RNS that they are confident the bonds will be completed, and the warrant extension is an indication they are (very) close.
If you believe it will happen then this is possibly the last golden opportunity to take advantage of a low share price.
If bond news comes out then this will 5x pretty quickly.
If it doesn’t, then we stay in this range until another financing plan is implemented.
My money is on the bonds, and soon.
You're right Andrew4444.....and I would say that the odds are even better than that, because (IMO) you will not lose 50% of your money unless you sell out....because they will get the financing in some form at "some stage".....the only thing you risk losing (assuming you continue to hold PXC of course).....is more time........which we are all well used to........lol!
But the BOD do normally find a way to do what is required....when they need to!
"This is a coin flip, they either secure the bonds or its lights out (for existing holders anyway)"
With a 50/50 coin toss you would either lose all your money or double it.
here you will lose 50% of your money or 4 to 8 bag if good news.
yes high still - risk but the risk reward is very good IMHO
I've placed my bets and waiting for the roulette wheel to stop spinning :)
Hmmmm, after what happened to COPL shareholders with false statements etc, I have little idea what’s true anymore. BW