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Citi Research on #copper: Funds have driven #copper up to ~$9,500/t (+~20% since late November), on early signs of global reflation and in anticipation of physical deficits. Pure-play #copper equities, which are even more forward-looking, have moved up to a price of $10.5k-12.5k/t #copper into perpetuity, suggesting that there is further room for forward-looking investors to take the commodity price higher. Indeed, pure-play equity-implied #copper prices are consistent with our view that we have entered the second secular #copper bull market this century. Likely LME withdrawals of Russian metal and modest deficits should support prices around current levels over the next 3 months. We still see a path up to $15k/t by 2026 in our bull-case scenario.
I suspect the bondholders were looking some sort of convertibility which would lead to dilution and therefore a no go.....The talks perhaps are leading to a number of hoop jumping conditions to avoid said dilution! It wouldn't be a shock to me to find it's PXC BOD that have been totally in control here or at the very least....mainly in control! I suspect we are very near......hope so!
And A bit stolen from ADVN in reply to me:-
"............I'm as frustrated as most here on at the time frame and constant slippages, but from here the risk reward suggest to me that getting out at a significant loss could be a serious error when sentiment could turn around - and very significantly - any day now."
Who knows?
Looking likely to be more missed timelines (which they are setting themselves up for).
You've got the IR guy saying PFS expected this month, knowing full well that a number of timelines have already slipped in the past and that retail shareholders on a public forum are already on edge about this. So you'd think him mentioning PFS expected this month would be said with much confidence and assurance that it would arrive on time. I'm not expecting him to know the exact day of release but on AIM its always better to under-promise and over-deliver. PXC seem to be doing the opposite.
Not expecting the PFS until mid May now and no idea of these bonds yet. Share price reflects the story here. If the market believed that PXC were on the cusp on putting the bonds away, the SP would be much higher.
Copper through $9600
Whilst Mr Pond is correct in that an extra week is neither here nor there, he is undoubtedly forgetting the frankly behavioural problems of pxc management missing deadline date, after deadline date, after deadline date.
Now please excuse the sterotyping here but with Richard and Marcus it is not so surprising, Brits don't really like work by I would have thought Ryan far more on the ball. It seems not
How do the folk at Konnex perceive their British overlords? They can't have a great relationship considering they spent £20million on not much and then went begging to RF. Shambles I tell thee
Monday the 6th is a bank holiday, lets hope that it a least arrives on the 7th.
I don't think they like Fridays for RNSs .......but perhaps if it's GR8* news to be ingested .....maybe a good idea!
Yes i had noticed that, but assumed that it implicated rns on th Friday the 3rd.
Both are Saturdays.......lol
We can only focus on the contents once we see them- so is it a given then that it'll (pfs) be visible by 4th of May!
An update comment this morning on ADVFN from Paul de Gruchy (PXC's Investor relations co-ordinator UK):-
"On timing of the PFS I was asked if it was on target for this month still and I answered along the lines of “there or thereabouts”. I’d urge people to focus on the content of the PFS: if it comes out on 27 April or 4 May it really isn’t material"
Gold flying sniffing out $2400
We have a great asset in one of the best jurisdiction
I recall Paul de Gruchy (PXC's Investor relations co-ordinator UK) posting somewhere that he strongly expects good news this month.....personally my guess is May into June based on the dates in the RNSs......
........We'll see!!
Nothing to see here then. Thought we may have been on the up for a minute the other day. Just another fluctuation
If they get bond’s done and/or pfs lam expecting 36p and above.
Phoenix Copper (PXC): Already back above its 50dma for the first time this year. Breaking the centre of a W shaped reversal near 12.8p. Above this could target 16.5p January price channel top before end of April.
The ducks are really lining up for us, PM’s are on fire. PFS based on current prices will look amazing.
Over 12.56p on a dummy sell.
Certainly heading in the right direction then!
Onwards and upwards.
Currently still within a trading range thats been up/down for months.
At a point where this could signal upwards if it passes. 12.75p
Who knows ?!?! but one thing we do know, when the SP moves it moves fast !!
I wouldn't be betting against the buying activity but as I said on Friday from past experience:-
"maybe an RNS in the pipeline.....seems to get a bit of buying in advance......and the subsequent sell off.....shows me that perhaps the knowledge of an RNS coming...but not the content....only the author/s know the content!"
my thoughts are that the content is secret but the knowledge of an RNS in the pipeline appears to leak......all IMO only...I don't know if I'm right on this?
That is kind of the point, to spot a trend at an early stage and spot when the momentum is shifting upwards. PXC looks like the SP is about to blow IMO
Unless the buys or sells have inside information I would still consider the technicals to be irrelevant.
They indicate buys are outweighing sells and the momentum is upwards. Technical analysis isn't related to income.