Member Info for BlueSky72

Yes indeed or at least bigger volumes for the Brown family to cream off more money then sending it downwards just as fast as it went up!

Assuming TB and family want to drive the price down to a target level before new CLN’s…and they are using FAB shares to do that, we could be waiting a while as up to 7m shares are still to be offloaded to PI’s yet if the trend continues. How many of those shares will they retain if any I wonder? We will lose track shortly under 3%. Surprised that the newsletter wasn’t RNS’d today as that could have created more volume to facilitate a quicker churn for them…as they seem to have done previously to dump onto PI’s inc me at a higher price!

Hi Cautious11, whilst TB doesn’t have to sell before more CLN’s, IMHO, it’s probably his preference as he would be effectively recycling his money. So FAB sell now resulting in much needed company cash when new CLN’s are issued. TB has already said he would provide finance as let’s face it, a few £50k grants at this time ain’t enough to run with until a JV etc is done. He then also has room then to take those converted shares as Trek already said. Also those could be written in at a relatively low future price justified by the even lower starting position caused by his latest selling! Win win for TB and the company I guess…well those in it for the long haul and the fear of dilution. Been here 3.5 years now and still waiting for payday. Bought more last week hoping that pending news would cover any further TB selling so I timed that wrong! Thats my view anyway.

ATB

Talk about trying to catch a falling knife…I’ve bought an additional 375,000 shares since yesterday hoping for bottom (now well down) and it just keeps getting walked down further still…duh! If it is Trev…thanks a bunch! If it’s for a placing wtf?!

Hi Bankrupty. The non dilutive loan notes are classed as a debt like item and therefore the net value of cash raised against that debt is equal (one nullifies the other) in MCap terms is it not? What it should do though is ramp the mcap as those waiting on the sidelines currently buy in at a relatively higher SP as the future finances are sorted for the foreseeable.
ATB

@bebeto original placing shares at £0.01. Can’t see any at £0.0095 anywhere. Please explain.

Excellent post RightOn.
Also;
"We developed an exploration model at Navarre targeting the geology, geochemistry, and geophysics typical of epithermal precious metal deposits. Our findings thus far, including the recent geophysical results, support our exploration model and will provide the basis for further exploration, including a planned drilling program in 2022. In addition to the evaluation of these latest Navarre Creek results, we continue to focus our efforts on the Empire Open-Pit copper oxide feasibility study, scheduled for completion in Q2 of this year, and with the ongoing permitting of the Empire copper-oxide open pit."
2022 should be the making of this company. Such a lot going on…and a lot to look forward to. Hopefully permitting will arrive sooner than later but there will hopefully be plenty more good news before then.
I will continue to add at these levels.
All the best
Blu

Hi Trek,
Many thanks for your words of advice. Good points made...always learning so thanks for your perspective.
Well done for playing the game right with respect to your trades and for your transparency.
I think I will look to average down at these low levels now rather than trade...in the hope that we are bouncing around the bottom...well as the situation currently stands anyway.
Blu

Absolutely EP. Hindsight is a wonderful thing looking at my holding…maybe I should have traded this down to reduce what I thought was a good average of 55p on 50k shares. Yes I am now underwater by a fair margin. Been busy and taken my eye off the ball with my AIM / small caps these past couple of months. Hug and hold does not appear to work for me…the past 12 months have taught me that. Lack of news on those points you raise and other macro’s plus what appears to be a lack of investor interest in this company all add up to the slow but fairly steady erosion of the SP. I will try to remain patient and even add if it drops below the 40p level to reduce my average before positive news hopefully arrives. My belief in PXC as a longer term winner is still there…for now at least.
All the best.

Thanks for your reply ToS1963. I tend to agree with you. Reminiscent of COBR releasing underwhelming news on Xmas Eve last year on a half day when many were away from their desks. Cynical me would say that it is partly a share price damage limitation exercise. Today is a half day trading for Mellon too before the weekend. Oh well I am in for the long term with this one as there are many other positives as other posters outline.

Trek - to hit those old workings down there is frustrating. Let’s just hope that the rest of the results don’t show that we are drilling a piece of Swiss cheese lol

ToS1963 - interesting point about news release on Thanksgiving Day…as in this is a gift or otherwise a good day to bury bad news? I am invested here btw and have been for 5 months averaging up to just below the current share price. Usual AIM situation with price drop today…

Totally agree Burleigh. More than made up my losses in ECR elsewhere e.g. HE1 selling before the drop…

Had my fingers badly burned here after the last placing and sold out at a loss earlier this year due to lack of trust mainly in CB. Have been watching from the sidelines to see sentiment return here and a lot of positive development. A vote of confidence through one individual who has been mopping up shares of late. Wondering if I had misunderstood ECR and been unfair to CB. Everything would appear to be put in place to develop 3 mines but most of the results seem to knock the share price as they have today. Mmm still not convinced…

Apologies for the misspelling addicknt btw

I agree adictnt. Not sure I like the apparent switch in focus maybe as a ‘distraction’ let’s say from what The Big One was talked up to be?
GLA

So the AR published in May 21 showed that as of Dec 2020 they had a cash position of £2.4M having raised almost £5M net via 2 raises in the previous month. Costs for 2021 were expected to be £2.5M per the Dec note. We know that as of June 2021 the cash balance had reduced to £1.5M but then they raised a further £800k in July 21 so they should still have over £1M of cash...but that is expected to be pretty much depleted by the end of this year which is not far away at the current burn rate.
Poly and Directors bought at 9p and the Labrador deal was all equity at around 12p with warrants at 20p.
20p seems like a long shot right now for those additional funds but hopefully with the long awaited Nov results...and there should also be more holes included per today's RNS plus some results from Canada possibly before the Cyprus ones arrive.....lets hope that they will get us back over 10p for starters.........they certainly need to as another raise is on the cards in the coming months ahead of any plans for road access at Adeline.

That’s true DVH. Look forward to seeing the detail on the potential new projects then. Further news due shortly…patience…

I thought the IPO of Broken Hill was a smart move. Now they are looking to take on more exploration projects?! Come on CCZ where are the drill results that you RNS’d?

Always read your posts with interest Trek.
Frustrating waiting for what appears to be overdue news…same problem in Chesterfield CHF where the price dropped way below where I expected it to settle.
The fundamentals in these and others like PXC haven’t changed so I guess it is just a waiting game now to see how the macros and wider market plays out…and hope that the awaited news arrives is good and reignites the share price. Hopefully not long to wait now…
All the best.

Well I’m a few grand down on this. Chased the price down to lower my average to 1.90 now but had to stop when it continued to fall and my holding became overweight. Still hoping for good news from Arya even if The Big One results are underwhelming. GLA