Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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....making a nice move this week. Can see a break of $4 coming, it keep banging on the door of $3.9.
What happened to talk about Sulphides and Porphyry? Billions of $$$$$$$$$$
Chid: many thanks for your repeated identical warnings. You don't hold shares here & you are not adding any new information or view. The bulletin board is quiet as most of us are reasonably researched, have made our decisions & are waiting. Why not leave us in peace and maybe post on the....let me think....Llyods bulletin board!
.... or as it is more commonly known as, 'second hand' equipment, to go with a second hand mine.
Let's hope the Americans aren't laughing at the dumb British buying up their 'cast offs'.
Let's hope the board of directors aren't also laughing at investors whilst they live well for years on a good salary as we watch our capital dwindle and daily trades less than all our fingers and toes total.
Confidence is paper thin, and Bible paper at that.
Watched UKOG go the same way, the expert, the hype, the rise the fall, play out for years now its share is in the hundred or maybe even a thousand to a penny now. Just because a share is low, never assume it can't go far far lower.
Aim is always a huge risk even if a board member is 'close' to the directors, and as I have said before, IF I were so sure it was a dead cert, I would keep such to myself and buy up as much stock as oft as I could at a lower price, not big it up thus perhaps raising the price on hype.
Don't be afraid to ask the 'right' questions and read the white spaces between the black with more care.
English P
From reading your post on PXC, you seem to be making a pitch for being the 5th horsemen of the apocalypse - fear :)
Bankrupty - I think I've more chance seeing the 4 horsemen of the apocalypse than seeing an Empire mine generate actual cash.
"The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics"
I wonder if this was a "chicken and egg" situation? Those who were looking to lend the money wanted the economics to be improved and for this to be derisked - which is why we purchased equipment at cheaper than new cost and before the bonds were approved. ?
I'm more confident of a favourable conclusion to this now than I was yesterday, but there is still risk here and I understand why some are still sceptical.
"The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics, as well as reducing the time required to purchase these long lead-time items."
They could have waited and bought when new with bond funds - but bought now as they must fully expect the Bond to be confirmed - the time saving on long lead items is worth more to them than the cash on account.
I think (hope) the main difference with PXC is that we have cornerstone investors who have bought into this project from day 1 and have been to site probably several times now.
Fair enough and well played on your prior trades.
I suspect news of funding (which is in all likelihood the main catalyst here to get the sp over 17p in the short term) will see it sails past 17p and on towards previous highs in relatively short order....it is the huge uncertainty weighing down sentiment and investor confidence
As such you could well be selling at the inflection point...although emotionless de-risking is a solid AIM strategy in the current environment
Sportbilly1976 i was lucky enough to get in at 20p during the lockdowns and 3 bag so sold my original stakes worth and more at around 60p which meant i was left with a small tranche of shares which effectively only cost me £20!
However, believing in the BOD, i put more money in later down the line thinking funding is just "one signature away" and as a result my avg now sits at 17.44 which isn't too bad.
I've learnt with AIM (after being burnt so many times) to just derisk where possible with no emotion, this one ticked so many boxes and yet they still might screw it up. Just got to wait it out and see what happens now.
You can have a free carry at any price around the current sp to de-risk totally?
Unless you have massively added in the recent week or so, that suggests you have been invested here since the sub-10p dip in 2020
Capital difficult to come by as the baby boomers retire and move into T bills, take their money off the table - so those projects that do get finance are top tier and have passed rigorous due diligence - Phoenix likely to have passed this process and just waiting on final approvals, or they would have gone the traditional funding route by now.
copper in high demand and growing with green tech reqs
if mining development timeframes are not what you may have patience for, then should move on to faster moving plays.
Yvoo..off topic on PXC..........I always fail when Big Jim is at the helm.....so I get out when he arrives!
Agree EnglishPatient,
This looks like its going down the path of pump the share price with whatever news possible then go the dilution route. Problem is, the dilution is likely to come in stages so a slow death for all holder with constant timeline slippages before the eventual nail in the coffin. Seen it time and time again. Purchasing 2 mills means nothing, i am holding share in a company that purchased a mill 3 years ago, at the time it was euphoria and production was possible in 12months. Fast forward to today and the mill is rusting away and the company is trying to find a buyer for their gold asset but hasn't got anywhere despite 18months since the for sale sign went up
I'll be derisking totally on any rise and let just the freebies run, BOD let themselves and holders down on this one.
Well we've waited almost 2,000 years....thank The Lord PXC will be resolved before then....lol!
The faithful here talk about debt finance coming a bit like churchgoers talk of the second coming of the Lord. If this was such a great opportunity this would have been sorted out long ago, meaning the debt is never coming.
Hmmm ,,, I’m encouraged to the point of being back in. BW
"all interlinked" as you say Tiburn!
Agreed trek, difficult one.
Perhaps the CEO doesn't wish to re iterate "Bond coming " yet again as has cried wolf too many times.
Equipment purchased with the limited funds available is a good sign of the bond finance coming imo, as if at risk they would surely husband their limited resources until funding gained. Equally RF would want to understand their pay back timeframe to agree to this facility, all interlinked.
I expect when the new "enhanced" Riverfort Agreement Documentation has been executed (within the next 10 days presumably) and rolling over the existing facility within the new facility to boot.........then the Bond Finance will be touched on.....my best guess....let's expect another RNS by mid next week then?
GLA
No mention of bond finance. Not even a nudge and a wink.
On 5th Jan RNS and the 26th Jan RNS they gave a heads up on both the loan extension and that the bond financing was progressing.
Given that we should now be closer to the end of the ‘satisfactory conclusion of discussions with interested bond investors‘ then why no mention at least especially given how nervous some investors are and following some large trades last week.
Don’t get me wrong the second had equipment is a great result but they just don’t make it easy for folk to make decisons. It’s fine wanting blind faith and trust but you gotta earn that through timely delivery!
Usual caveats
Trek
Good news at last.
Purchase of Equipment
The Company has executed an Asset Purchase Agreement (the "Purchase Agreement") to acquire two pre-owned ball mills to be used in the processing circuit at the Empire open-pit mine. The closing and funding date of the Purchase Agreement is 15 March 2024 and is subject to a final inspection and inventory of parts and components. Additional information will be provided following the closing date. The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics, as well as reducing the time required to purchase these long lead-time items.
Refinancing of Short-Term Loan Facility
The Company also confirms that it has agreed terms to refinance the Existing Facility into an 18-month term loan (the "Term Loan"), and is currently finalising the legal documentation. Pending execution of the Term Loan documentation, the lender has agreed to waive its conversion rights on the Existing Facility until 1 March 2024. Further information regarding the Term Loan will be provided following execution of the legal documentation.
ATB
Lets hope for a positive rns Monday morning.
Up 14% Roy ! I must be good at it...;o)))