RE: FUNDING20 Jan 2023 19:23
"I’ve spoken to the board several times recently. It is a great project, we remain confident of getting funding and when that happens it will be a huge vote of confidence and the market will start valuing the company on what it has. And on that point…beer calls!" quoted post from DP on Telegram tonight.
And this from Jeffrey Temple....
"I met today with a couple of the directors from PXC, my first meeting for several months. It was very interesting indeed, and I want to share what I learned. First, everyone is waiting for news about financing our projects. Here they were very positive, and I understood that the bond book has been filled, and they are just waiting now for the documentation to be delivered. They are as frustrated as everyone that this has been delayed, but emphasised to me that this has not been due to further negotiations, but waiting for the paperwork to be completed. I found this to be very encouraging. I asked about the ATS testing, and was told that the metallurgical testing was under way and nothing negative has been found to date. Not much one can add to that! I asked if they knew why the share price had fallen, and they responded that according to their information, they have seen less than 1% of shares traded most days which is very low for peer companies. They can see that the vast majority of long term shareholders are still there, so it is the smaller retail holders who have sold for whatever reasons (those were their reasons – my take, trading profit). They expect this to change fast when the share goes the other way. I asked about funds in the bank and how long they can last and was told that the company anticipate no need for any more equity, thereby maintaining their promise to long term shareholders not to go for a further fund raise. “We are in a good financial shape” came from a director who I trust."
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