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$80M US......LETS GOOOOOO!!!
And for all those that said it would never happen! Jeez
I have dreamt of that RNS for years !! The stress has been unhealthy at times. I own an incredible amount of share accumulated over several years....he who dares Rodders !!..lol...;o)))
Awsome new landed , nice to see a aim board do the biz
Finally, I thank all of you shareholders who have continued to support the Company, in often challenging circumstances. Now that we have our bond financing being finalised, an economic and profitable project in a mining-friendly jurisdiction, and a path to production, we look forward to sharing with you the benefits of a rerating of the Company's shares as Phoenix makes the move from a junior mining development company to a mining producer.
......yes let that sink in, mining producer !!
I think they have done well. I said all along it would come with an equity rise. Well this is sort of. 56m shares is not a bad result in terms of dilution as it accretes the assets.
I think the market will react more favourably to that method of dilution than an equity for cash placing as stock is being used to cover the fees directly. This was in the agm as an addendum, to issue shares.
We still don’t know what covenants are on the bonds in terms of how to use cash. If any. So Riverfort needs to be closed out.
I may buy back in but no hurry for me atm. Fortunately I used my proceeds form here to buy HEX.
Anyways wishing investors here the best. I genuinely think we PI’s need to help each other and hope there is a good rise tomorrow even though I am on the sidelines. This has been a good BB for two way discussion.
Best to all
Usual caveats
Trek
Trek, what sort of value would you put on PXC ?
Shares here are tightly held, but I'm still thinking of trying a cheeky top up on the bell. Any thoughts on what's a reasonable price to buy, vs holding off for later as trek is planning?
Hi MT, it’s impossible to say. The DCF model that takes into account debt and equity is a normal valuation method but there are very little revs here. But you can factor in anticipated revs.
The BoD now need to go flat out to generate income. I haven’t done the math but I suggest looking at the equity value v the interest charges and see how long they have before they gotta pay in hard currency. Then match that to offtake timeline.
So much we can’t fathom yet but I am sure the bod will issue a ppt/do a roadshow etc to explain to investors.
If it helps, I have no axe either way, I wouldn’t buy this spike but I would sell a percentage into it and use the cash to pick up more stock probably cheaper further out. Run some dummy sells tomorrow and see how it looks. If you get +50p I’d take it for a % and then have some cover.
Once this euphoria subsides folk get their calculators out and that’s what matters.
But of course I could be wrong.
Rest assured though the journey is truly underway now after all the years!
Good luck
Usual caveats
Trek
Thanks Trek. Thanks for sharing your knowledge over the last few months. It is tricky to value, I would not be surprised to see 60p/sh over next few days. Maybe even spike higher. PXC value is going to be quite high I would think. Circa £700m turnover over say 5-7 years then hopefully start mining the sulphides. The whole site is now unlocked. Further exploration planned. There could be a cheeky offer for PXC.
Well done all LTH who stuck by this one. And anyone who is under water should make a decent profit now (I would think).
I've only been here 8 months and its been a bit stressful even for a newbie like me, so it must have been a lot more emotional for the LTHs :)
AIM market is a bit strange at times but surely it will react accordingly tomorrow !
40p a few months ago when there was rumour of bond financing so what? 50p tomorrow??
Who knows? But it should be fun finding out tomorrow :)
I'm tempted to put a sell order in for £1/sh...you never know !!
60p/sh seems bold but time will tell. I was looking at Edwards-Jones other company CRTM which has at best a poor roadmap the last few years and only limping forward. I am just wondering if they share similar roadmaps and whether one can learn from the others experiences. Agree on the offer front, it's all about showing viability and unlocking the mines for the bigger fish to come in but time will tell.