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And........@ 38.5p!
Why bother extending this £1m + worth of potential adviser's/broker's share purchases.........for only 13 weeks from now.....
......unless you expect the SP to be north of say 50p? by then?????????????
Been there done that. Warrants mean zilch, i used to think they were an indication of where the BOD see the SP come exercise time but its just another fad. They can easily issue new warrants later down the line and let the current ones expire. All the classic hallmarks of an AIM share.
This is a coin flip, they either secure the bonds or its lights out (for existing holders anyway). Good luck all, we'll need it!
You can dummy buy 300,000 shares in one go. I think someone is offloading their placing here before tax year end.
Hmmmm, after what happened to COPL shareholders with false statements etc, I have little idea what’s true anymore. BW
"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 :)
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!
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.
"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.
"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
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.
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!
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