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The problem with the ducks lining up is that we need a competent shooter to knock them over. The aim on the pxc gun is very much off centre.
Copper to $10 ๐
All systems go ๐
Phoenix rises! ๐
All the ๐ฆ๐ฆ๐ฆ lining up.
Prod start is being advanced as rapidly and at lowest cost possible, substantial saving in cash and the equally as important lead time reduction as Trek outlined.
Great news on this prod equipment being secured, but as PXC stated:
"However, Phoenix does not intend to update the market on all future equipment purchases, unless they materially affect the Project's economics."
Overall however, I thought the RNA detail the wrapping for this one line:
"pre-feasibility study currently being finalised."
finalised = release of bond....
For me, not a question of if but when they start mining. The market cap is doesn't square with the assets by many multiples. But I am patient.
Not fussed at moment as I am building a decent stake here.
โSimilar brand-new equipment typically costs around US$7-8million for both ball mills and has a lead-in time of around 12 monthsโ
Yep great news. So before they found this opportunity they were expecting to wait another year. Mmmm
Usual caveats
Trek
Brilliant? They had to flog cheap shares at 11.5p to get the funds. Hardly great business as we were told the bond money would be available to buy equipment as soon as Ryan needed it.
Absolutely brilliant, there it is, as promised by the BOD. Recently they are actually delivering exactly as they said lol
Many don't realise the opportunity with PXC. Could reach recent highs of 40p in very quick order.
With only 1% explored, and currently only 150m shares, in production in US, there is a big prize up for grabs, very unique for AIM.
IMO With the Bond holders, conversation is more than just Empire Mine, lets see if I'm right...
Confirms purchase, one duck lined up :-)
Many more to follow, I tucked quite a few away after last rns, perhaps a few more will see this news as the start...
Should get the confirmation tomorrow/weds, always a few days late here lol
For many this is the green light for the whole project.
Remember this is just for the initial Empire Mine. There is a much much bigger prize up for grabs, who knows the bond holders may want in on the whole porphyry deposit if proved up, conversations would be complicated and explain the delays? Been told a few times now, ther is much more going on than anyone understands!
Anyway in other news, Copper price continues to rocket ๐
"the closing and funding date of purchase agreement is 15 March 2024-additional information will be provided following closing date" accordingly there should be rns today.
Closer than ever to transformational news.
Few months back if anyone said you could buy at 12-13p you would never have believed them!
Just going back to very recent highs and it's a 200%+ increase.
For me, all evidence, especially the LinkedIn Post by Riverfort Chief Legal Advisor, points to the Bonds finally being concluded. With this I then expect news embargo to be released. Once the hand brake is off, we will get the NC news, PFS, and the reveal of who the bond holders are, the big picture, reason for delay etc, and ๐คit will all finally makes sense.
IMO With the very tight free float, this will move fast, same as all previous occasions. Let's see...
I agree that the bonds are close. There seems to be a degree of confidence in securing at least $25m as an initial tranche.
Iโm not sure we will end up with 150m shares though. The bondholder is likely going to want a slice of equity, so Iโd guess at least 15-20m in warrants will be issued.
But still, if we get through this with another 10% dilution then Iโd say thatโs successful.
Riverfort Chief Legal Officer Mark Wheeler's Comment...
""Congratulations to Phoenix Copper (PXC) on completing this refinancing TO ENABLE THE DELIVERY OF THEIR COMPREHENSIVE BOND FINANCING IN THE NEAR-TERM. It was good to work with the board to finalise and execute a funding solution for their short and longer-term goals""
The above is a comment on the bond issue, not by PXC BOD, but by an independent 3rd party, who is a Senior Lawyer. When drawing up contracts for the Loan, which as we know is directly linked to the Bonds, I am sure full disclosure and details of the progress of Bonds will have been made!
Small PI's have barely any info, if none at all, but it's very very interesting to see, that this Chief Lawyer, who will have combed through all the info possible, also expects the Bonds to close in the near term ๐
When the bonds land, 12p is going to look so funny. Will be an AIM 1st, delivery of Finance with minimal dilution and less than 150m shares. This is the multibag prize everyone has been waiting for.
(Could be nothing but PXC ADR's in the US were up 77% yesterday!)
Always DYOR
Crom
The fact that Phoenix have kept share volume low, by choice instead of taking the easy dilution route , demonstrates their belief, they all have serious positions in their Company, its a key investment criteria ticked.
Capital markets have been very constrained, its no reflection the Phoenix proposition - just a few years ago they would have secured the Bond by now, had multiple backers .
Funding soon now, not many shares in issue.
Once the funded strategic plan is marketed , equipment bought up front to advance to prod revenue
Not likely they spend finite funds on development equipment , if the funding for the early prod and evaluation full roll out en masse is not secured, they would stall with serious repercussions - cant play secured suppliers, logistics disrupted - reduced recourse.
Waiting now on lawyers to realise their max fee potential and sign off.
Not looking at sp but mcap, share in issue 149,069,995
ยฃ200m mcap -> ยฃ1.34
ยฃ300m mcap -> ยฃ2.01
And much more can be achieved, just need those ducks to line up, get production running and hold tight :-)
It's what keeps me invested here, the opportunity is rare on AIM.
You're right MTSparky......The coming commodities boom (and falling purchasing power of $US et al)...will have bond investors....lining up with the rest of the "ducks"........and PXC needs to be "in the ashes" as is ...in order to arise to victory...lol!
Good luck all.
Looking forward to hearing an update regarding the bonds...
Copper at $5 would make PXC and the bond funders a healthy profit. Onwards and upwards from here now....;o)))
Forget $4, we could be talking about $5 soon
Purchase of equipment news should come Monday or early next week.
Bond news, PFS can land anytime now....
Whatever has been happening, it will all be revealed. I.e. who the investors are. News embargo lifted and it will be all systems go ๐
12p will look like an absolute bargain. Phoenix rises!
All the ๐ฆ๐ฆ๐ฆ lining up.
(Some will look like absolute mugs, they will be deleting their new shiny accounts quicker than they created them)
Copper could cost $10,000,000, and it still wouldn't matter because they aren't producing any and can't get funding xD
$4 looks like a fairly strong resistance/support line. There has been talk of copper shortages for months so the price might be catching up with physical demand v's supply. $4.3 could be the next price target.
Copper is ๐
Just touched $4
PXC used $1600 oz gold price in their previous economic study. Shame Navarre Creek results haven't been progressed or shared with us. Navarre Creek could make the company in its own right.
I think that that is the definition of the "special relationship".
Hope it does not happen.
Atb Ducks.
Gold is $2177 oz, so more way more for every shovel full.
Lets hope the US doesn't allow the gullible Brits to do all the costly research, locate the stuff, then pull the plug on funding, thus then getting 'their' own mining area back cheaply, and work it themselves shafting us share holders big time.
Only time will tell I guess.