Phoenix Copper. Share Price (PXC)

Hi Star,

Yes that is correct.

My point was that there is a plan b if needed.

“If there isn’t much appetite for the ADR’s then PXC could go the IPO route”

Hope this little bounce today is the start of a climb back up!

Good luck with your investments

Trek

From the RNS below;
Intention to appoint BNY Mellon to establish ADRs
Thu, 5th Aug 2021 07:00
"No new Ordinary Shares will be issued to establish the Program, with ADRs being created on demand via the acquisition and deposit of Ordinary Shares."

With all due respect Trek, I do believe that the directors are on record as saying no new shares will be issued for the ADR's and will come out of the shares outstanding.
I could be wrong. I questioned some time ago as to how the ADR's were to populated. The above was the response I received from informed investors on the BB.

Some time ago I mentioned how the ADR listing could take different forms. An IPO was one of them. If there isn’t much appetite for the ADR’s then PXC could go the IPO route. I note that ARB have done this and the market reaction has been favourable.

Here’s a flavour...

“Launch of Initial Public Offering



Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce that it has commenced an initial public offering of 7,500,000 American Depositary Shares ("ADSs"), representing an aggregate of 75,000,000 ordinary shares. Each ADS represents 10 ordinary shares of Argo Blockchain. The last closing price of Argo Blockchain's ordinary shares on the London Stock Exchange Main Market was £1.334 on September 10, 2021. The ADSs are being offered in a registered public offering in the United States (the "Offering"). Argo Blockchain has applied to list the ADSs on the Nasdaq Global Market under the ticker symbol "ARBK.".....”

Trek

at the current frequency of news flow we will get about 4x more RNS before XMAS.