Member Info for InTooDeep999

Table sugar (dimer of glucose and fructose) is a far bigger culprit. That's in terms of T2DM, cardiovascular risk (MI, hypertension, stroke) and also cancer. I would be more concerned about parts of the food industry adding sugar or HFCS than sweeteners (although I personally avoid both). But, Big Food is a powerful group - just like tobacco.

Bandflex: LIT CEO yesterday 29 mins,www.youtube.com/watch?v=l0d62en2P5A&t=1751s

Due tomorrow, I think.

Https://m.youtube.com/watch?v=s6GAaaWWvMI

GRX from 5 minutes 20 seconds.

Not yet. 🙂

Late June and early July essentially gone. No further information on timings that I can get clarity on. I am as certain as I can be that it will happen - but I've been saying that for years!

SEIT, ENRG, RECI, HBR all doing rather well for me: thanks Trek. Picked up the dividends as well (not HBR yet). M&G also 30% up. Just need PXC to get that funding across the line!

The following was posted on Telegram over the weekend. It is copied here with permission from the poster. The poster went to AGM and picked up these bits of information from Directors and other attendees. He adds, as do I, DYOR! I can confirm that the poster did indeed attend the AGM, as he has done for a number of years. I would also add that it's not an encouragement to buy or sell!

"What we understand about LOI bond investor is that he is known to a LTH in the US (who I believe has a sizeable stake in PXC - might be say 1% or 2%  I don't know precisely) who has done business with the LOI bond investor before.  The LTH has visited the Empire mine a couple of times as part of his initial and ongoing DD, and is apparently very happy with his investment.   The LOI bond holder and  his  investment group (other investors who follow him) have recently financed a US public company, so from that are showing that they can raise finance.  And there will have been other DD done. The 2 men are  close enough that its inconceivable they will not have discussed PXC at some level - but its clear the LTH has said enough that the LOI bond investor has decided to move forward. Regarding precise timing etc I doubt if too many people know".

Https://x.com/DonaldPond6/status/1938712051636941203?t=2_3l5tkRbTqyx6RLlkPURg&s=19

"But the board have worked hard to find a viable alternative that doesn’t dilute us the death, and it sounds like we have a better bedfellow than NIU proved to be.

Mistakes were made, but it’s time to look forward and not back.

We’re potentially weeks away from securing the finance we need to build a mine, and (maybe) opening the door to further financing for other exciting projects.

Empire Oxides is the starter, the Sulphides expands this, and it will all likely lead into Red Star, Horseshoe, and anything else that follows. 

I’m more confident now than I was yesterday. Is that the AGM effect? Maybe. But the other attendees I spoke to afterwards felt the same.

Let’s hope the next 3-4 weeks are the turning point for all our fortunes. We’ve waited long enough."

"The permit process is as follows (over simplified): 

“We want to widen a road”.

“Fine, but why?” 

“We’re building a mi e at the end of it”

“Ok, we better take a Quick Look at that, too”.

The Forestry Service and BLM are interested in the mine, but much less concerned about the mining operation. It’s more to ensure that any change to public land has no impact on t on the public. On that front we are as clean as we can possibly be.

There is very little local objection. But Nimbyism will exist everywhere.

Timing-wise, once we get the $30m we can pay for the engineering work sign-off, and submit in Autumn.

Decision of record will be next year (that’s as specific as could be given), and as soon as the decision comes we can get building on public land.

But this doesn’t stop us drilling the adit. Mo way re dived means drilling the adit in Sept / Oct, with a 4 month timeline for the whole run.

Longer term, there is still massive confidence in the porphyry below. I encourage everyone to attend next year’s AGM and spend 5 minutes in the company of Dennis Thomas.

This is way in the distance, but there is a huge elephant down there to explore. Personally I just don’t think it will be Phoenix doing it.

So what’s the conclusion?

We’ve lost a year. None of us wanted that."

"full agm report: there’s going to be unanswered questions here.

i took as many notes as i could, but the shareholder turnout was disappointing.

in total there were 30 people in the room. 10 pi’s, a few advisors, the nomad, and the directors (richard, ryan, cathy, harry), as paul as head of ir. apologies for marcus who has been ill.

firstly, refer to previous post regarding the new investor. it’s all covered there, and he sounds like an exciting addition to the team that can open many doors.

agm opened with voting on resolutions. all passed (per rns). rough split on all resolutions was 30m for and a few million against. disappointing lot to see more people vote. but all good, and we now have the headroom for shares to be created for the new investment.

it’s probably not ideal to dwell on the past, but regarding niu, we are not in any fight or argument with them. they just haven’t paid up despite requesting. my personal view is the upfront shares were too generous and caner took advantage. naïve? maybe. poorly structured? definitely. anything we can do about it? not right now. it is what it is and we need to move on.

if niu wanted to invest $5-10m tomorrow we wouldn’t turn them away, but they do t have a right to demand to invest. it’s our choice whether to accept the money.

the company sought alternative investment, and we now have our guy in the us poised to save the day.

expected completion in july. personally i’m confident that this plan will come good.

some people may be ****ed at the board. fair enough. but the outcome could have been much, much worse considering g the position we were in. credit should be given to their tenacity, although criticism is warranted for the earlier dealmaking.

the initial $30m will allow remaining key equipment to be procured, and the adit to be drilled. adit cost will be approx $5-6m, carried out by contractors.

blending the sulphides with the oxides could double the output of copper.

sulphuric acid now seems to be the preferred route of extraction vs ats.

ats was a reaction to rising sulphuric acid prices, but now the prior plan seems most revenue generative. the extraction circuit allows for switching between methods, and while it’s not as simple as switching pipes for the different chemicals, modification is a reasonably trivial process.

the new presentation also includes a new infographic on the extraction circuit, and it’s very straight forward. being built at the edge of the pit really simplifies things. in dennis thomas’s words: it’s streamlined, it’s simple, it’s elegant.

this will really help permitting. remember, the permit is not for the mine. it’s for the road, the tailings storage (or one third of it as the rest is on our land), and a few other things."

This is reproduced after obtaining permission from the author. It might be in a few sections.

"I’ll write a longer report on the train, but related to the investor and site visit, this is a heavyweight mining investor that was introduced to us by another PXC shareholder, based in Utah.

I don’t have the name (sorry), but he’s well respected, and will be investing through his own company on behalf of his own investors.

The site visit is going to happen over the next few weeks. The company presentation will be published shortly and this info is part if the slide deck.

I can’t say for sure whether it’s him, his engineering team, or his investors that will be going on site, but all the paperwork is in place and this is being seen as a formality.

Some will doubt this. That’s your call. But there is real excitement in the air about this guy joining the board and becoming an investor.

For anyone that knows Ryan, or knows his personality, he’s the eternal sceptic. But he was very upbeat about this. He knows he’s about to go mining."

Too much jargon: Investor Meet company - PXC promotion has been dire for a few years. There is a promise that it will improve. Time will tell - I think they just need to dig themselves out of their current funding dilemma. To be honest, anything they say now, if it ain't funded, would be ridiculed.

The open pit is a starter. The dream will be adits into deep sulphides, into red star, NC, possible acquisition(s). Got to get that funding in place 1st. Don't go in too deep - I did, and it can be a bit scary!

Sentiment for LTHs is really low atm (I am a LTH). To me, this feels like peri-AGM 2024, where many doubted the existence of a bondholder - there was one, but it hasn't worked out well (whether you believe Caner let us down (my belief) or PXC are deficient in some way ("PFS instead of BFS etc). IF the $30m lands in the bank, then this price will be the stuff of dreams. Remember the IF & DYOR.

BTW, I understand that there will be an IMC post AGM, but the date is not known. I suspect that it will coincide with cash in the bank. This info is from a credible source.

ExGen already have a seat on the board - Jason. See website. The 'new' US future bondholder will have a seat on the board. Identity unknown. Likely to be of a different calibre than Mr Caner.

I'm positive the $75m will close. Just don't know if before, during or after AGM.

H t t p s://t . m e/+hIs5i27U9sNhNjBk

If this does not work, I give up :-)

h t. t p s//****/+his5i27u9snhnjbk

need to remove the obvious spaces at the start .

*************+his5i27u9snhnjbk

1. 1st mention of US investor on 7.4.25.

2. LOI from 12.6.25 RNS.

3. 1st time that PXC have removed the caveat 'there is no guarantee' re whether the bonds will complete, in MEJs statement.

4. RW has alway comes across as optimistic. Clearly either let down or poor decision or both re NIU. However, reading between all the lines PdG, seems super positive too, with the usual caveat it ain't done till it is.

So, my (and many others) fingers are well and truly crossed that peri-AGM the 1st $30m will be banked. If it does, liquidity here will be minimal, especially from a 5p base.

GLA. DYOR.

The whole group does not appear to exist anymore. There were no admins of late, both having had their admin privilege removed. The (newish) group owned was.....well....nobody that anyone I knew heard from or engaged.