Member Info for ID78

Phoenix Group Holdings plc (the "Company") announces that it is inviting eligible holders (the "Noteholders") of its £428,113,000 6.625 per cent. Subordinated Notes due 2025 (ISIN: XS1171593293) (the "Sterling Notes") and/or its U.S.$500,000,000 Fixed Rate Reset Tier 2 Notes due 2031 (ISIN: XS2182954797) (the "U.S.$ Notes" and, together with the Sterling Notes, the "Notes") to tender their Notes for purchase by the Company for cash up to a maximum aggregate principal amount to be determined as set out below and as more fully described in the tender offer memorandum dated 27 November 2023 (the "Tender Offer Memorandum") (each an "Offer" and together the "Offers"). The Company also announces its intention to issue new sterling-denominated fixed rate reset tier 2 notes (the "New Notes").

The purpose of the Offers and the planned issuance of New Notes is, amongst other things, to proactively manage the Company's expected redemption profile. The Offers provide a liquidity event and (subject to the issue of the New Notes) concurrent reinvestment opportunity for Noteholders.

Reposting this from Plutus as it is the first thing you see on opening this board not my waffle:

Quick reminder for any newbies below.

Total silence here speaks volumes, brings a whole new meaning when you say 'flying under the radar'!

✅️ Jurisdiction risk - One of the lowest in the world, located in Idaho USA. In todays world a huge advantage.

✅️ Finance - Bond Financing nearly complete, with minimal dilution, due anyday, see last RNS, just the 2 week extension!

✅️ Shares in Issue - 124m, super low for a miner, very tight free float, practically impossible to build a position during a small increase in volume

✅️ Potential - Empire into production, then use cash flow to prove up Red Star, NC, and the huge porphyry, the star prize.

https://markets.ft.com/data/announce/full?dockey=1323-14036814-404BFAMG66CK2HPL0QSJS9E37J

"In Mr Maund's view, the Empire system bears some geological similarities to the World Class 1 category Antamina Mine in Peru, which is the largest porphyry - endoskarn polymetallic deposit in the world"

✅️ Navarre Creek - Full drilling results due. Already positive signs, further 400 acres claimed after initial results.

✅️ BOD - experienced, previously built up a $1b+ company

✅️ Local links - CEO is from Idaho, his grandfather worked at Empire

✅️ Metals - polymetalic, Copper, Gold, Silver, cobalt etc

✅️ Copper Demand/Supply - A huge structural deficit predicted in the coming years

✅️ Market Cap - At just £27m, similar companies, at much earlier stage valued at multiples

✅️ New Mettalurgical Testing - Start production of all metals from day 1

✅️ New Economic Model - An enhanced updated model pending for release anyday

✅️ Market Listing - UK AIM & New York OTCQX Market

✅️ ESG - Phoenix Copper received an ‘A’ rating from Digbee ESG, a third-party environment, social, and governance (ESG)

✅️ Life cycle of mineral discovery- about to exit orphan period and enter development phase, which signals a huge sustained increase.

✅️ Only 1% of total PXC acreage explored to date!

Always DYOR

Great post Plutus - thank you

Hi Trek, just keep the posts coming you’re not too bad at this game!! And I’ve been on these boards long enough to recognise that you are open and honest in what you post. Can’t say that with everyone (no reflection of anyone here just a BB comment in general).

Out of interest you don’t fancy QBT if you did well with ARB? I did well off it’s recent spike and am waiting with interest to see if they announce any buyers for the method B. If it is a game changer in bitcoin mining it will be a licence to print money…

IQAI - I have a tiny position there after your comments (3.5% of my portfolio but I will increase it using some profits from here).

But back to PXC - this my largest holding as it feels like the safest of the high risk plays

the likes of TXP, DEC, JSE, SHG are lower risk in my opinion and all good buys… but the finance news here will be transformational and is days away. Exciting.

Isn’t it! I have never held a share that has gone up this much with the BB so quiet!

I fully expect no news tomorrow. If we are lucky perhaps the end of the week, but I think next week is more likely…

That sounds sensible to me, F79

All the best

I know this may be 100% profit for (a select) few, but why would you sell now. A few more days and it could be 200% profit.

Thanks Trek, I have to admit I’m hoping to see 40p before finance is announced.

Thanks for putting me onto PXC, it’s appreciated.

Looks like 29p is resistance, as Trek said last week.

Exciting week ahead here :)

Hi Trek, was that short term opportunity He1?

Could have worked out well but it seems that rig is cursed!!!

I floated in and out of He1 and then gave up, the safer play is just to hold tight here.

GLA

Could be wrong l, but I feel that final tests prior to signing contracts will be once this infrastructure is in place - to allow miners to test latency and lag on hash rate performance…

Not really something I know about but it is (I think) the final part of any testing / due dilligence.

Then again is it is a % profit of tokens mined above the norm - what really has a miner got to lose? Mine the norm and pay zilch to Qbt. Mine an increased amount of bitcoin and you pay on that increase. Surely a win win no brainier?

Jam - doesn’t it suggest a prudent and stepped approach to taking method B to market?

Only ONCE miners were at an ADVANCED stage they went looking for cash needed for the infrastructure to link to the miners.

To raise the cash and put the infrastructure in place before hand would be jumping the gun??

Desperate to raise cash is - well - it’s an interesting narrative! Yes they need cash but only to finally take the product to market and start revenue earning. Desperate to start making money hand over fist, yes probably.

This could easily be at 30/35p when funding news arrives the way things are going.

Ahh ok, thanks ITD.

It really is incredibly positive.

In my little mind the software has now been tested for over a week by bitcoin miners who are seeing the benefits of method B. Consequently QBT can now put the infrastructure in place to provide it as a product and so raised the finance to do it.

You don’t do that without knowing miners want method B….

A very positive interview.

In advanced talks with bitcoin miners. You don’t get funding for the final step to take method B to market if you haven’t had very positive advances talks ….

I am familiar with the story on PXC, but the date 22nd November; where has that come from?

Nice move again today. Up 50%+ the last 2 weeks…..

So it turns out the tweet with the video with mike in it probably was their helium shows hint. Lake bad and lower Karoo.

Cyberton - erm are they not still drilling as they haven’t hit the ‘sweet spot’… .. I really don’t know how you can make that comment from that RNS.

Bebeto, honestly I think some credit has to be given for the progress this year, don’t you?

I’m not impressed with the suspension but they have no CFO. It seems those wages have gone into the mine instead. As RM said it’s a very small team of 3 (I think).

Honestly to reduce the CAPEX needed for the mine expansion, when in January there were concerns about gcat continuing as a going concern; surely they are to be congratulated? It is a notable achievement.