Member Info for BritishPeculeum

Thanks for the sharing Ufo… it’s that part of the AEX story that has been the motivation to keep me invested here. If Ruvuma Basin had not been central to TZ govt energy policy to put the lights on I’d have gone a long time ago. Plus there is something satisfying about being invested in a project that will literally change the lives of millions of people across TZ for the good. It’s a massive poke in the eye for the World Economic Forum’s massive downer on Oil and Gas assets, when hydrocarbons still have such a vital role to play for humanity.

All of that said, the corporate side of this projectI still remain sceptical about ARA’s overall strategy towards AEX remaining in the hands of AEX shareholders, but that’s always the risk with carried interests. For now I’m still in, hoping that we see the results of a positive CH-1 spud and a rerate to a double-figure sp, before what in my mind has always been the inevitable ARA acquisition of the remainder interest for the Ruvuma assets.

AIMHO

GLA

2Reincarnated… I can’t say either look particularly inviting.

Heather Small… “moving on up” still here though. CAML fits with my risk profile much better than OMI, but thanks all the same.

MercedesB… “How did the that go ⏫️...finger up your a$$... is she still fc king your brother??”

It’s useful technical analysis like this that you posted on another BB, that we are in desperate need for over here on PXC if truth be told…

Good luck to you with Pantheon Resources. I’ve had my trousers pulled down with them a time or two over the years, first in East Texas and then up in Alaska (Alkaid, Talitha, Theta West… 6 years since acquired North Slope assets and still not 1 barrel extracted). Accepted that PXC’s record isn’t any better here, and is looking like a bad car crash atm, but at least we are reasonably confident that there are exploitable assets in the ground to underpin the value. PANR? Hmmm. Not so sure about that. Technically ambiguous, plus the weather factor and seasonality makes it marginal… I think Jay has lived off me for long enough, if I’m brutally honest. Dilution after dilution. It’s a killer.

Best wishes to you.

Congratulations tichtich… I did some averaging-down when the sp was down at 140p last year, so it got me to the green and pleasant land a few weeks ago too.

I’ve got a good feeling about CAML landing a couple of deals this year revamping old Kazakhstan mines where there is proven cu reserves, historic permitting and existing infrastructure, but that might have been closed due to historic low cu price that made them uneconomic at the time. Last trading update said that they were evaluating opportunities like this. There are so many added benefits to the Company finding viable options in the territory in which it currently operates.

The Company is in a strong position to take advantage, IMO.

GLA.

Andrew4444 that’s a fair comment.

Reincarnated… I can’t see a placing happening until closer the time of the current cash runway running out, by that time other things will need to be in place. I just cannot see any more institutional money coming to the table unless or until those other matters have a clear resolution to them. Difficult to say what the company’s valuation will be at that point, unless or until we know what matters have been resolved and at what cost.

Andrew4444, I’ve been around long enough to know that there will be no placing, at least not until news falls regarding, NIU restructure/exit, a clear resolution has been identified for the Riverfort situation, and the LOI investor has moved to “binding”.

I honestly cannot think of one good reason why any institutional investor would back this pony 1p more from here without at least having those outcomes “in the bag”.

Furthermore if those things were already “in the bag”, what better way to “walk the shares up” than post the news on an RNS that those matters are “in the bag”?

Andrew4444: “It wouldnt surprise me if the SP was walked up before the placing to keep the lights on.”

Walked up by whom, and for what/whose benefit?

Jaris… from the link on Reddit: “I’d only be interested if it [PXC] can show some stability and attract volume again. Until then it’s just one of those names I keep an eye on while everyone else has forgotten about it.”

Hardly cause for PXC to 🚀 IMO…

If you’re gonna come here and ramp, at least put your back into it.

Fair comment Sparky, that he/they knew about all of this stuff when he first started due diligence on PXC. And agreed that it all needs to be sorted. But that won’t be by fresh air; it will have to come at an inevitable cost to shareholders. How can that not have a negative impact on the share price?

The $1.4bn of metals in the ground at Empire; so long as that figure remains anecdotal, no one can or will rely upon it. The LOI investor included.

GLA

Sparky, there’s a few of us that would sincerely wish you were right. This experience for many LTH’s, myself included, has been rough enough. I’m massively overweight in PXC and still massively underwater. Yes there is an opportunity for us to “average down” with the sp down at 1.25p as I write, but what then? Where is this sp going from there?

Here is the reality: We currently have a company with no CFO; no Company Secretary; a CEO (who is more of a technical opps guy than a CEO) flying solo; a company with an absolute contempt of disclosure and corporate governance rules for us to know with any certainty what is actually going on; just enough cash to get us to 30th April 2026, but not a penny more; a potential lawsuit with Riverfort; we are staring down the barrel of foreclosure from NIU; a sticky relationship with ExGen to navigate; further dilution from Indigo almost a certainty prior to 30th April, and a possibility of significantly more coming thereafter, but only if further cash runway comes PXC’s way.

With all of that factored-in, this looks to me like way way way too much of a risk to assume that your 5p spike is coming at all, let alone any time soon. I just cannot imagine that the LOI investor news comes before all of the other matters are sorted.

I’ve said it before and I will say it again, NIU restructuring/exit is the key to unlocking the door to PXC’s future. This has to be done before the lights go off on 30th April 2026. Unless or until that happens, I would not consider putting another penny into this prospect.

GLA

For me, PXC is no joking matter.

GLA

Sparky I can see a spike coming in the event of LOI moving to “binding”, but that’s it. Any other news; resolution of all other matters (Riverfort, ExGen, NIU, additional cash runway) will come with dilution and most likely a downward effect on sp, IMO.

Will LOI move to “binding” before other matters announced?

JamesBlackstone…. I honestly don’t know what’s coming next for PXC. How do you see this going from here?

I don’t know if anyone else saw this, a Canadian equivalent of an RNS for ExGen Resources Inc., on the TSX dates 12th February 2025…

Vancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen" or the "Company") provides an update regarding Phoenix Copper Limited ("Phoenix"), the operator of the Empire copper project in Idaho, in which ExGen holds a 20% carried interest. In addition, ExGen owns 1,330,000 common shares of Phoenix.

Phoenix announced on February 9 the suspension of the Executive Chairman and the Chief Financial Officer.

(https://polaris.brighterir.com/public/phoenix_global_mining/news/rns/story/rgom5vx ).

The Phoenix Chief Executive Officer, in a February 10 news release, stated "Work relating to the advancement of the Empire Project and broader strategic options continues."

(https://polaris.brighterir.com/public/phoenix_global_mining/news/rns/story/rymqj3r )

ExGen management understands that Phoenix is in discussions with a number of industry groups who have potential interest in advancing the Empire Project.

“A number of industry groups”… LOI investor has always been described as an individual investor. So who knows what’s going on.

Well Sparky I’d love for you to be right. Personally I just don’t know how an extension to short term cash runway, and yet with the Company still waiting for LOI to move to “binding” will get us a 400% increase in the sp.

GLA

Sandyman difficult to judge at this stage exactly how low she will go, but 0.2p isn’t beyond the realms of possibility, given the variables in those negotiations that I mentioned below. That’s some heavy lifting under serious time pressure.

GLA

Fair enough MT

Re: spike? I hope you’re right about that, but a lot of that will depend on the timing of how everything stacks up. If it does happen, my recommendation is: don’t hang around. There will be better points to re-enter further down the line, given how much time and dilution will be required to get this puppy income-producing.

GLA

MTSparky, surely not sell the ball mills? You might aswell put up a sign outside PXC saying: “closing down sale - everything must go!” I don’t believe that we are at that stage. They’re going to need them to do something with the open pit. They’re worth more lying insitu near the Empire mine as I understand it, not currently on the site, than re-sold. That way, if NIU does foreclose on the Empire site, PXC is in a good position to negotiate a decent price for the ball mills with whomever takes the site on.

I’m not sure that I agree with the notion of selling the cobalt rights at this point either if there’s a maintenance payment due to PXC later this year. Any institutional investor will consider this bankable cash (subject to their own due diligence).

As I see it, 30th April 2026 is the critical date by which things need to have happened:

Indigo converted up to the $1m cap, and in control (30%).

Further cash runway beyond 30th April 2026 agreed with Indigo, which will be contingent upon:

An in-principal settlement reached with Riverfort re: prepayment dispute.

An in-principal settlement reached with NIU re: secure senior debt facility restructure/straight cash exit.

An in-principal decision reached with ExGen re: buy out of carried interest.

At which point, LOI moves to “Binding”.

If none of that has happened by 30th April, then that “closing down sale - everything must go” board will be needed.

GLA

Sarnias… what is speculative at this point is how much dilution will have to come to get GAL to an income-producing position. Any thoughts on this?