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Lol mates rates!
As for PFS - aha just read it, Jan RNS
"The PFS for the Empire Open-Pit Mine is nearing completion, and barring any unforeseen delays is anticipated for delivery to the Company by early Q2 2024."
Was having a look at the last corporate presentation - plz could someone tell or direct me to the prices used for copper-gold-silver-zinc for the $1.36B M&I and $600M+ Inferred resource.
Being cynical, it could have been a play by the BoD to get the SP down to let the stakeholders buy shares at a lower price. I'm sure they will get the nod on funding and buy in (or get out) at the right time....;o))
Copper-gold-silver prices are soaring but not the PXC share price (yet?)
i do appreciate they are not a producer so is the market cap due solely to the cash situation (raise earlier this year at 11.5p) and bond/PFS news?
Back on my watchlist again, while more research is done.
StanleyUK...that certainly makes sense...you could have sure joined the dots better than I! That would be a great scenario!
Just a post I did on ADVN just now..replying to a "non-self informed " who thinks the BOD is just raising for their own salaries...and buying equipment as a ruse....lol! :-
"It's really quite simple/easy....the tortoise won the race! FULL STOP.
.....by processing all cu/au/ag at once (although starting later)....and causing frustration with retail investors..(because these R.I.s choose to not "DYOR" properly to get a handle on the strategy and why apparent slipped timescales etc.) makes great sense!
.....more money/revenue will come in sooner than individual steps....and your SP should/will reflect this....when the market properly understands!
IMO if you have any further "thoughts" and "concerns" reread this post repeatedly and/or contact the BOD...even read ALL previous RNSs....and get up to speed!
...don't be surprised if your reaction leads to uncontrolled purchase of PXC....but try not to buy OTT....lol!"
GLA
I think InTooDeep’s post is more likely, Bankrupty.
Bonds first, then PFS. The money will then allow us to purchase more secondhand equipment that will reduce the capex within the PFS.
The ball mill purchases are complete and they will arrive onsite during the summer, once to groundwork is finished (it’s still snowy on Mackay Peak).
The PFS is all but done, but likely being held back for additional purchases once we’ve got the cash in the bank.
Nearly there. As Paul stated on Telegram, this should be a very exciting month.
Yv00,
as per last RNS 2 weeks ago,
possibly waiting for the equipment (ball mills) to be finalised in purchase to do the final PFS tweek......I'm guessing this month is what Paul could mean in post 10625 on ADVN...
....I'm sure there are other unknowns to me to be included also????
It will land in due course as it always does.....evennnnnntually...lol
Per BofA on #copper: China’s #copper smelters agree to production cuts. China’s #copper smelters remain under pressure on a lack of mine supply, so they are proactively managing the operating environment, with SMM reporting that decisions were reached at a recent meeting of the China Smelter Purchasing Team, including joint production cuts of 5-10%. This is worth following as it should support refined #copper imports.
Per Bloomberg: #Copper jumped to the highest since January 2023 as fast-mounting supply risks and fresh signs of a rebound in demand reinforced hopes that the bellwether industrial metal is plotting a course to new record levels.
Analysts and traders have been turning increasingly bullish on #copper in recent weeks, with Goldman Sachs Group Inc. predicting prices will reach record highs of $12,000 by the first quarter of next year, and Citigroup Inc. seeing it hit that level by early 2026.
#Copper has risen 8.2% this year, driven largely by concerns about risks to supply. Mine production tightened unexpectedly after last year’s closure of a giant facility in Panama. Chinese smelters, which produce over half the world’s supply of refined #copper, have been moving closer to implementing a joint output cut because the tightening ore supplies have driven processing fees to near zero.
Post on ADVFN mention that PFS "expected" this month, how many times have we heard that!
I'll believe it when i see it, and it needs to be an actual PFS, not some tosh that's been thrown together into a RNS because the actual final final "final" completed PFS is awaiting a signature from someone on annual leave
Hopefully, we may get a bit of fomo setting in the next few days in anticipation of bond and pfs.
In March ‘22 we were in the 60’s I know, because that’s when I bought in…..
To be frank it would be a massive relief to have the bonds sorted out- June 22 since the engagement of broking syndicate and still we await confirmation. can't remember but we were in the high 30's spread wise.
Also with the bond news, there was a promise sometime ago of a ‘great story to tell’ with rumours of a mine acquisition….wonder if that’s still the case?
With the PFS and Bonds due, could this turn into the perfect storm for PXC? Think we deserve it after all the missed deadlines and promises!!!
I am going by the 26th Jan 24 rns they said completion of PFS by late Q1 and early Q2. I'll happily settle for end of April if they do deliver, after all what is 2 weeks when you have been waiting for years.
I also think the bonds are somehow linked with the PFS. if one happens the other follows quickly thereafter or simultanously.
Yeah we need some solid value enhancing news. Owning this share is draining.
I would think that's rather a narrow definition of early Q2. I would consider early Q2 as April 2024. Bonds are likely before PFS - that way the PFS could be further improved by owning more pre-loved kit. Owned kit can be specified in a PFS; if not own, new cost applied. The ticks up last Thursday and yesterday, with some quite big buys (not mine as not trading this), suggest news might be forthcoming.
Posted on Telegram yesterday by DP, reposted by me here for those that are interested:
"I expect this month to be very significant. We are scheduled to get the PFS and I expect it will be pretty impressive with the assumed prices on metals, but if you plug in the current prices it will be materially better. It will for the first time give us a solid economic framework to discuss."
Back to waiting patiently. GLA. DYOR.
They said PFS by early Q2- that is by the end of next week- lets see if they do deliver this time.
Paid actor
.....plus SP rising looking good. Get the placing overhang cleared and we should be back towards 40p and beyond in no time. Lots of defining news due shortly so fingers crossed guys ...;o))
P.S. as I said yesterday:-
"I'd love us to get there now and put all this behind us to move fwd. to greater things at depth and wider area etc."
The BOD's goal/vision is a £billion pound market cap. We are £16mmarket cap today (I think fair value today should be more £30m) but even with a further 100% dilution the £1bn would still be around 30 x bagger from today!
We can but dream the vision into existence....lol
happy easter Weekend!
Very pleased to hear that, InTooDeep999.....it is easy to lose confidence from time to time.....especially with so many false dawns.....the times I've loaded up feeling we are nearly there and then almost immediately trimmed back to preserve capital/dry powder...when the delivery hasn't happened........a lot of buying seems to occur when RNS is in the pipeline...IMO..lol and if I'm right....then I could also be right in adding a caveat...(but the content appears always unknown...lol)......It is a shame that some have opted out totally......and mainly on the basis of what we were discussing here yesterday and recently:-
1. so many times many including RightOn saw 20p as the trenches defence line.
2. the BOD always seem to find a way...when it's necessary (I think they're more in control than would appear....always!)
3. There is little risk (10% imo) on the SP medium term and obviously a much higher opportunity of a re-rate as previously discussed (90% imo) at some point. just when???
4. we have been hassled with missed timescales so many times and perhaps this will continue.....but I keep seeing 13 weeks in my head and those warrants extended for 13 weeks now on top of the PFS 13week expectation as discussed yesterday.......who knows? hope so! lol.
I've been investing and trading here for more than 6 years.....and owe it to RightOn's posts and podcasts to have kept me invested (to an extent...the whole time).....I was with OXUS of course, so knew some of the BOD and certainly did not blame them....so yes Phoenix arising out of OXS ashes???
I'd love us to get there now and put all this behind us to move fwd. to greater things at depth and wider area etc.
I hope Plutus1 is still on board and that Trek and BilkosBuddy return to invest here, when they feel the time is right.
Good luck ITD and GLA!
Indeed I am. Waiting patiently. Not sold any.
Hope you're still waiting too....InTooDeep999! ATB
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