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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
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…
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.
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….
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.
Maybe I’m giving Robbie more benefit than I should but … since the funding fell through Robbie identified a high grade area to mine. This was not just to ‘keep the lights on’ but it seems to partially self fund the expansion so that they need less money to complete the expansion (making it more presumably more achievable to get that funding).
In that respect, they have had a good year and done a good job. They haven’t stood still hoping to get funding, but demonstrated they can produce gold, make money and made the expansion funding more achievable.
So they didn’t just dust themselves down and pick themselves off the floor. Robbie and the team came out punching pretty hard.
So in that respect, well done Robbie.