Member Info for InTooDeep999

https://www.mining.com/web/copper-industry-warns-of-looming-supply-gap-without-more-mines/

https://www.proactiveinvestors.co.uk/companies/news/1009928/amati-global-adopts-digbee-esg-accreditation-for-tb-amati-strategic-metals-fund-1009928.html?viewSource=TwitterUK

Once actually mining. 'May' be part of the jigsaw to get finance over the line. Likewise with ATS news: whichever route, one would expect guidance on direction around AGM time.

The alternative view is that when/if (I believe 'when') non-dilutive finance is secured  the share price will re-rate rapidly.

The CFO has twice posted on TG (membership circa 600) that 1. Circumstances have been difficult, but he is confident (non/minimally dilutive) finance will be secured & 2. We will be in production this year and there is much that can't be mentioned.

There was nothing forcing him to post re point 1, twice, to a large extent staking his personal reputation on completing this task. I was both grateful & reassured that he bothered to do so. I suspect that most AIM CFOs would not. This action, and the pledge re finance, sets them apart from other AIM junior minors. (not mentioning resources, jurisdiction, what is priced ie, etc)

Re point 2, we all know Empire will not be in production this calendar year. So, IMO, one can assume some sort of other 'exciting development' will be announced at some stage this year eg M&A.

So, I remain optimistic that by around AGM time we will have the news we are all waiting for.

The above is just my opinion based on what I have read/understood. I have read much, as PXC is currently 75% of my portfolio. My handle says it all :-) And, aside from my trading pot to work my average, I am in this for the very long haul. I ultimately want the dividends, and all in  an ISA! GLA.

You sound just like John T on Telegram. Are you? Just curious.

https://twitter.com/TouchstoneExp/status/1643375648411643906?t=9PLQwe4UFCcw1ZMl5GajYA&s=19

Ok, that's annoying. Posted link on ADVFN. Change the 2 x's for t's. Let me know if problems.

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Put this before the 15 in my last post, and it should work.

**********************I5hNdxg-LUTkNvtljGWq1A

Dear All. Under the circumstances, I feel it is time for me to post. This in no way detracts from the excellent work Donald has been doing.

Firstly the bonds. As stated Friday, we are finalising this as quickly as we can. It’s been a dreadful market - in US interest rates have gone from 0.5% to 5%. We have therefore adjusted the bond coupon to make it more attractive now in a high interest rate environment. It should not change what we pay in the future, if we believe in the copper price (which is presumably one reason we are all here). Market will be updated on the issue ASAP.

As for short term financing. It is nothing other than an insurance policy to ensure that pre-construction work and pre-season exploration preparations can continue uninterrupted pending bond completion. We have no intention of allowing it to go beyond the 3 months and possibly be converted. In fact it cannot be converted until headroom to issue more shares is granted at AGM. So right now some people are worrying about something that cannot happen. Cash wise, we remain in a good position and can cover corporate and basic operational costs well into 2024. As for warrants, the previous two RT facilities had warrants attached. They have been exercised and produced cash for the company. Please remember that the company also has existing warrants and options outstanding, which should also produce cash for the company. We hope to use option and warrant exercise monies over the next 3 years as a reserve exploration budget. We pledged minimal or no dilution from equity issues to put Empire into production. We intend to keep to that.

ESG. Delighted about the A grade. Well done to our team. Once we are construction financed I believe our ESG credentials could play a huge role in bringing new institutional shareholders on board, particularly through our US ADR program.

And Navarre Creek. We are really excited about this. The drill rig is prepaid. The programme is permitted. 30 pads, 2 holes from each. Should be very exciting.

In short, nothing really has changed. Company still here. Still in Idaho. Project still here. ATS testing nearing completion. We are still going to produce copper, gold and silver. It’s just whether all together, or in phases. Everything looking good. Other than share price!
There are also other exciting developments afoot which I cannot talk about at this time.

So to those of you who do believe in the future. Relax. Thank you for your continued support. The future is very much alive and kicking!

Hi Stan, I would really like to ask/know/discuss the info in your post off line. I'm not sure how to direct message on LSE, and don't want to give out contact details publicly. If you are on TG, please DM me if you are happy to discuss. I'm the culprit who copied your post to the TG group on Saturday morning. Thanks for considering, whatever your decision. BW.

Was waiting for your input Trek - it tallies with my thoughts. This from DP on Telegram is interesting: "By way of background, this is the third time the company has taken on a short term facility to bridge the gap before financing was completed. On both previous occasions the lender was repaid early. What has not been disclosed to the market before, but is relevant, is that on both occasions the lender was Riverfort."

...and they are excellent. Also, PXC tweet here: https://twitter.com/Phoenix_Copper/status/1636262337987354624?t=X6sVbnUmPfUfEsXyiPLqBw&s=19

There is, as Bankrupty says, a lot of info on PXC. DP attempted to answer this question in July 2021 as follows: "I think “fair value” is so tricky to agree on at this stage. We have visibility now to potentially producing a FCF of $1m a week in 18 months time. So some would say we still need to secure borrowing and have no cash flow and wouldn’t invest on that basis. Others would say a PE of 10 would put the SP at around £3.50 by the time production starts. And that’s just for the Empire oxides. On dune of parts, we really don’t know much about Red Star yet but Hardmans valuation once you allow for recent share issuance would be around 40p with silver at $19/oz and an extra 4p for every dollar on top, so maybe 65p at the moment BUT the resource there could be 10 times bigger. Plus the sulphides, plus Red Star, plus cobalt and you see a sum of parts estimate could easily be over £10".

I missed this PXC Tweet from 6th March: https://twitter.com/Phoenix_Copper/status/1632769610339745796?s=20

Nothing new, but of interest as news may be 'imminent'. Been thinking that for about 1 year now - it will be interesting to see what Q1 & Q2 2023 bring.

hxxps://media.discordapp.net/attachments/905368027296567297/1080058022816125049/Polish_20230228_092348108.png

Change xx into tt & it should work.

I'm already over my LTA, so don't have a SIPP. I have filled my wife's SIPP with PXC, TXP and DEC. The first 2 as they will take time to reach full potential; the 3rd so as not to lose the 15% tax on the dividend. My wife benefits from 20% tax back on SIPP contributions, plus if ISA rules changed (eg limiting the value you can hold), shares in SIPP would be safe as long as below any projected future reduction in LTA.

"We’ve set out the expected timescales: funding in February, drilling news and ATS around the end of Q1. The company doesn’t control those events so each could be earlier or later, but nothing has changed." - posted on Telegram by DP today. Volume traded now is tiny. A lot of LTHs holding firm. I think I'll leave my sub 40 top up additional top up for now. GLA. DYOR.

Also, just noticed this tweet on the PXC home page from 2-3 days ago.
https://mobile.twitter.com/Phoenix_Copper?ref_src=twsrc%5Etfw%7Ctwcamp%5Eembeddedtimeline%7Ctwterm%5Escreen-name%3APhoenix_Copper%7Ctwcon%5Es2

Interesting also that Donald (Pond) posted this on Telegram last night. Together with his recent tweets, the updated corporate presentation, the presentation on 12th Jan 23, JTs recent posts and the ATS results before the end of Q1, I suspect there are lots of folk (investors & those waiting to invest/up their stake) watching very closely. GLA & DYOR etc.

DMS1: In September 2022 you wrote "Agree. Can't buy any meaningful amount of shares. Whether this takes 6 months, 1 year or two years to reach £2 - £3 I am confident that this very capable Board of Management will get us there in due course."

5 months later and you're talking about dilution after selling 430K shares. I am very confident non-dilutive funding will get sorted. When? I hope announced in the next 2 weeks. If not, I'm still confident that by 18 months the share price will be £1-2. When the RNS lands, buying meaningful amounts will be difficult. I'm buying trading pots over my core 300K shares (that will be held for years) on the way down and will sell these on the way back up - but not once funding announcement :-))