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"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.
Shame we don't produce any!!! BOD any news worth giving us poor punters? Sometime? Please?
"BHP will have to dig deeper for Anglo American’s copper"
https://www.ft.com/content/a2aa1b76-a17f-4953-8e27-48dc05bf5cee
"Mining Giant BHP Bets on Copper With $39 Billion Bid for Anglo American"
https://www.investopedia.com/slug-placeholdermining-giant-bhp-bets-on-copper-with-usd39-billion-bid-for-anglo-american-8638762
"BHP-Anglo American potential merger: It’s all about copper"
https://www.mining.com/bhp-anglo-american-potential-merger-its-all-about-copper/
PFS now due any day, will put PXC firmly in the spotlight. IMO bonds will come in quick succession, and PXC will tick all the boxes...
PFS ✅️
Bond Issue ✅️
Permit for Empire - told no problem, an existing mine in a mining town ✅️
Product = Copper/Gold/Silver, all flying ✅️
Jurisdiction - Idaho, USA, one of the best Mining jurisdictions in the world ✅️
BOD/Staff - Made permanent moves with families to Idaho ✅️
Equipment- Already purchased and committed $1m+ on its way ✅️
Prospects - Huge huge Porphyry to discover. Only 1% explored to date, so potential in years to come is huge ✅️
At close to all time lows here, only way is up, smart money loading up right now.
Last time Copper Price hovering at today's price, PXC was comfortably over 50p!! And was 38p in anticipation of bonds just a few months back, many simply don't realise when PXC moves, it will move fast, free float is very small. Quite a unique situation.
DYOR
They will produce but atm imo they need a finance bridge, get a few million away in equity which really is no big deal, only 15% dilution at 11.5p again whilst the sp is up. That’ll see them over the repayments until the bonds then permits clear. The market may actually react positively to the removal of some uncertainty.
Usual caveats
Trek
Anyone like to predict when they might actually produce something to sell. Are the 2nd hand Ball Mills still awaiting transit ? BW
Hopefully crossed the 14p barrier for good!
Thanks Plutus, very useful macro background.
"As the major mining companies search for the next significant deposit, they must look to acquisitions to remain a major producer meeting near term demand," he said.
Interesting and fast moving dynamics, could alter timeline/ PXC strategic intent - closer partnering with Bond supplier changing terms of the deal?
Bond advances the feasibility of the project towards earlier sale - as high reserves/ substantial upside, onshore USA pro mining jurisdiction , low tax, infrastructure in place, access to market and labour... excellent addition to Majors portfolio.
If Phoenix can ride the tiger and secure fair value then earlier ROI.
Https://www.reuters.com/markets/commodities/bhps-proposed-bid-anglo-american-is-big-bet-copper-2024-04-25/
""BHP's proposed bid for Anglo American is a big bet on copper""
"There is no way that existing mines can meet the anticipated demand, therefore the major mining companies recognise that copper needs to be a fundamental part of their portfolio," he told Reuters.
Everyone is looking for Copper assets......
The forward projections for the price of copper give me huge confidence in the bonds being delivered or some other finance package. Copper is the new oil so money should start flowing in now that the scarcity of the metal is getting real. $15,000 a ton is coming PXC are in a great place.
Exactly, could kick start a mass scramble for copper assets and consolidation within the sector
Https://www.cityam.com/anglo-american-mulls-bhp-offer-in-possible-mining-mega-deal/
On PXC, I am expecting PFS to drop anyday now, quite possibly next week, quickly followed by the bond finance. Something delayed the finance, real world business is never simple, once we know the reasons, hopefully it makes sense, last few months have been painful!
Copper at $4.51, 2 years back PXC was hovering around 50p at those prices, and now gold is at an ATH. PXC could easily surpass those good old times IF they deliver PFS and Bonds as they have intimated. IMO, with last few RNS's, contact with the BOD, they will deliver soon.
Always DYOR
Likely to be the Washington Hotel in London Paul thinks but waiting for confirmation.
ATB Ducks.
For those that want to know, Paul de Gruchy posted the following on TG last night, in response to being asked.
"It is likely to be on 22nd May but to be confirmed. There won’t be a virtual element but I’m sure there will be plenty of reports back"
He was right.
https://www.youtube.com/watch?v=QUoZK2k58q8
A year ago Copper price was under $9,000 and the price here was 25p. Copper now heading towards $10,000, ($15,000 plus predicted) to keep supply up. Just a thought.
Bond funding enables detailed evaluation of the field - Phoenix have a viable profitable mine right now given finance with less than 5% of the area evaluated.
Can expect rapid and focused development - they have had the time to best plan.
Yes.
Difficult to buy when the shares are limited and volume is high.
My guess is PFS then news on bonds
20p first target
Bargain basement will be an understatement if PFS and Bonds Funding is delivered imminently.
I remember only few months back PXC racing away to 39p, and talks of 80p plus was on the horizon with bond issue about to complete.
Things can move very fast, just takes 1 RNS, everyone knows multiple news now pending, and the big prize on the horizon.
DYOR
Looks like on a charge now. bid increased to 13p. Me smells a bit of bonds.
Lets go!
At long last bid raised to 13p. let's have some traction.
Somebody just bought nearly £13k PXC and at 13.84p!!
My post on ADVFN:-
" well now ......POF(RightOn) here as an inside outsider (LOL) Donald Pond(Paul de Gruchy) 6 tick ups and no trolls responding......bit of price action.....someit's going down guv......lol"
Hope so!
And my post of 19th April 1744hrs I talked patience .....and now the EnglishPatient has returned......it's about to blow....."She canna take any more, Cap'n! She's gonna blow!" Scotty's last mission finally proves him right - Space X rocket carrying his ashes explodes.......watch this space!
GLA
I am afraid there are quite a few people here who talk utter rubbish simply talking up the stock, wittering on about price of copper etc to sucker in people to to pump-up the share price. I think it is just about done now with this one. I don't know if you remember but there is an episode of US Office where all the staff are asked to come up with a way to save the business. One guy suggests buy an old mine and say your going to reopen it they all laugh and that is what I wish I had done with PXC. I often wonder if this is where the PXC got their idea from for this company. This has been a valuable life lesson for me, though, which is buying speculative mining juniors is a like betting on horses. Occasionally a 100 to 1 shot will win the Grand National but if you want to grow your money without facing catastrophic losses then avoid at all costs, there are far safer options and that is where I am now. Good luck all!