Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Https://www.google.com/amp/s/amp.theguardian.com/business/article/2024/may/03/glencore-may-trigger-bidding-war-for-mining-rival-anglo-american
Everyone wants the copper!
Shares are being gobbled up. Looks like the next leg up is coming. I hope there is a big order being filled. We should be in the 20’s next week with a bit of luck !!
Blencowe got US DFC funding for a critical/strategic mineral project in Uganda - so its possible (or sensible) they would look in their own backyard for such minerals!
In terms of US government funding, I was doing some research on another US mining company, and they had stated the following in their RNS, which I find really interesting and intriguing! Can this be the reason for the sudden news blackout since 24th Oct, where we heard about NC, and then gone into silence since.
"While at this time we cannot disclose many details about our strategy as it relates to government funding opportunities"
"Targeting non-dilutive funding is a critical focus of the Company. However, minimal updates will be given for the time being, as such disclosure may interfere with our ongoing endeavours in this regard"
Hence why timelines are out of the BOD's hands. There seems to be a news embargo. And the final result on Bonds will be surprising!
With the 2nd hand capex purchases, part government funding, maybe total bond funding required will be materially lower?
DYOR, IMHO
I think DP stated that the PFS had to be independently verified too which has taken time. All sounds very positive from DP lets hope they deliver this time. 3 weeks of SP rise in anticipation of AGM news….;o)))
Nope. End Q1/early Q2.
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."
Make of that what you will. I remain positively positive. 🙂
Was it not due end of Q1?
I would think the PFS will indicate more resources than those quoted.
Seems to good to be true at this level.
Since 2017, Phoenix has executed extensive drilling initiatives, resulting in an expansion of the Empire Open-Pit resource by over 200%. The measured and indicated resource currently stands at 22,909,059 tonnes, with an average grade of 0.38% copper, 0.324 grams per tonne ("g/t") gold, 10.3 g/t silver, and 0.19% zinc. This resource represents 87,543 tonnes of copper, 238,406 ounces of gold, and 7,595,198 ounces of silver.
Hard to tell what the catalysts are these days. Market is very funny ATM generally from what I look at.
Welcome rise though. Just fingers crossed it is sustained.
Atb
Reckon this is leaky? Bond financing is a go?
Bid now 17.50p.
If you think its hot at todays price then just wait for another 12 months :)
And then again in a further 12 months !
$13K to $15K IMHO within next 2 years.
Copper is HOT
Well a profit is a profit...and that's why we're here BilkosBuddy......hope you return with renewed confidence someday...ATB for now!
Sold the last of mine for some profit. Thank you Plutus 1. BW
Being offered 17.44p to sell on a dummy sell. I think we will cross 20p very quickly.
Nearly hit full day's average trading in the first 70mins. I think most will be from weekend reading...perhaps there is "knowledge" ?? of a RNS being drafted.......? But the content remains "secret" IMO.
Anyway would be nice to see us back at 20p and then Bonds and PFS in May leading into June........taking us above 35p!
I hope!!! and we do deserved it!
At this momentum of re-rate i'd expect mid to high 20's by end of this week
Well the MM are keen for a rise in SP. Maybe they need shares. We’ll be in the 30’s v soon at this rate.
I feel strange celebrating 16.5p/17p.
Good positive start to the week.
Https://www.mining-technology.com/news/us-government-adds-copper-to-critical-materials-list/?cf-view
Last August the US Governement officially added copper to its list of critical raw materials.
Is there a possibility the US Government can provide some of the funding? Or even subsidies through the Inflation Reduction Act.
Only last week the US Governement provided $50m to Rainbow Rare Earth to develop a rare earth minerals mine in South Africa! Nobody expected this.
https://www.cityam.com/us-set-to-fund-london-listed-rainbow-rare-earths-mining-project-as-china-battle-hots-up/
From the musings on other boards, and their contact with the BOD, the repeated line is it will all make sense when everything is revealed, and it will be a pleasant surprise!
Morgan Stanley recently predicted massive investments in US Metals and mining...
https://oilprice.com/Metals/Commodities/Morgan-Stanley-Predicts-Massive-Investments-in-US-Metals-and-Mining
In todays geopolitical world, it's a question of national security, it's all about reshoring. It's critical for the US to develop a domestic supply, hence PXC resources of Empire and future exploration and development of Navarre Creek/Red Star etc becomes even more valuable, has a premium attached to it as it's US based.
https://www.energy.gov/fecm/articles/developing-domestic-supply-critical-minerals-and-materials
IMO There is something bigger going on than just funding, is it along the lines of the above, who knows, very intrigued for the big reveal, why the delay/who the funder is, and cannot wait for the news embargo to be finally lifted.
DYOR, AIMHO
"How a global race to secure copper supplies sparked a £31bn bid for a FTSE giant"
https://www.telegraph.co.uk/business/2024/04/25/how-global-race-copper-supplies-sparked-anglo-american-bid/
Good to see this rising steady through the week.
Anticipation of PFS and new on the bonds expected at any time.