Member Info for InTooDeep999

Your view.

My view: Bonds have been delayed, but there are good indications that this will change quickly. Eg application for listing on TISE: a little nudge to Plan A? Plan B also advanced. Minimally dilutive is the board objective.

Construction can start on patented land as soon as a POO is finalised - likely this quarter. Ryan will want his money the. RW & MEJ will be making sure it's there.

I don't think much is going on.

Reasonable information that bonds will be complete soon, but market doesn't believe it. I do, and continue to buy in small tranches on each penny drop. It will reverse really quickly when the announcement is made. Hopefully those that have liquidated positions can get back in at a reasonable price, but derisked. Hopefully for me, I'm right. Time will tell. GLA DYOR

Can't believe I just got a further nibble @ 16p. 🤞Keeping some cash free, just in case......

DP's excellent report is out on Telegram. It's too long to post here. I think it is going to be available via the PXC website.

Another RW snippet re dividends you might like. Bankrupty:

"No. The Company has to have accumulated profits. You can’t pay a dividend out of accumulated losses even if the year in question has produced a profit.

Our priority is to get into profitable production and cash flow. Any dividend strategy will follow from that.

But minimising the parent company accumulated losses is a reasonable forward planning thing to do."

"... - allow me to be the accountant for a moment.

Companies have authorised capital and issued capital. PXC is authorised to issue an unlimited number of ordinary shares. We have currently issued approx 125m. We are now authorised to issue up to $300m in a class of bonds. We will issue what is required to build the mine.

The interim results are consolidated results which means the group as a whole including PXC (the parent listed company) and all the Idaho subsidiaries. As a group we have a loss which is not surprising as we don’t yet have production revenue.

However the parent company, which is the listed company, is the one that will hopefully pay dividends in due course. The parent company has the external shareholders, like you. Dividends can only be paid from retained profits. So we protect the parent company balance sheet as best we can by charging management fees to the Idaho subsidiaries, and interest on shareholder loans. On consolidation, inter company stuff cancels out, but at the parent company level, if you looked only at the parent company, it does not.

By keeping the parent company profitable, we are paving the way to pay dividends sooner since we have less losses to clear before we have distributable profits.

I hope that helps"

"Nothing to see, yet". But, on the cusp of needing some CAPEX funding (Q4?). Fully expect RW to deliver on minimal dilution. I added this morning & this afternoon. Tucked away for dividends. I'm going to copy a post from RW from this morning on Telegram, where he was explaining a point to someone else. Hopefully of interest, and demonstrates forward planning.

If below 90p, I am reinvesting & holding for 5 years or so.

H t tps://1lo.co/P5Stf

Thanks. Hopefully this link, with spaces removed, makes access easier. Looking forward to the presentation on Tuesday.

It's a serious tree shake, IMO. Also tried some dummy big sells, with quotes. My understanding is that the funding situation is unchanged ie plan A looks imminent (there's that word again!), and plans B & C ( also non-dilutive) are prepared, though A is still 1st choice. I know this through Paul's posts (DP) on Telegram, and got the same advice when I emailed a board member last week - the 1st time I have ever emailed a company. So back to waiting for me, but I'm optimistic of 80p by Christmas. Agree, share purchases would send out a signal (I'm in DEC too, with a circa 90p a stage now), but long term won't matter once/when the 'F' problem is put to bed.

"There absolutely is a way forward. We simply need to get funding sorted and everything slots into place very neatly.

Forcella sums up the position well though. We've narrowed down the options to one physical approach, that can be utilised using either ATS or sulphuric acid.

We are now optimising: that means finalising exactly what grade to mill the ore to, what size tanks to use, how much agitation, what strength chemicals etc. This will improve recoveries but doesn't need to be 100% perfect: improvements can and will be made once we are in operation. What we need to make sure of though is that we but the right kit as we can't change that.

We lodge the plan of operation: when doesn't matter hugely, the key thing is that the authorities be in position to carry out site visits and any environmental surveys they deem necessary next summer.

We can then start spending money getting ready for operation. We can do that on private land as soon as we have funding.

Everyone understands that we need to finalise funding ASAP and is progressing along multiple fronts to do so. We will update when we have something certain to report."

Well, from DP this afternoon. Don't shoot the messenger (or the message writer). Make of it what you will. Copying it over for those not on Telegram. Whilst this board has been quite, TG has been full (mainly) of grumblings, in case anyone thinks its 'just' an echo chamber. Here goes (next post).

Thanks GP. An interesting & reassuring listen re AL.

There is not a lot to discuss atm. News in August is unlikely. I would expect the following: metallurgy plan, NC results, funding news, permitting re-submission. Order and timing not clear. The official line is 'soon'.

Delighted to add more this morning. Why would one sell now, after holding for so long? Rhetorical question.

Https://twitter.com/DonaldPond6/status/1690003567413792768?t=owqZLKa8c8d6ourOm0U9UQ&s=19

Bye bye owl. Glad you are flying off. Happy hunting.

Actually, sliced bread can contain vanadium.

"Nevertheless, whole flour bread is richer in elements than white flour bread as the following quotients demonstrate: boron (1.4), magnesium (1.7), phosphorus (1.5), potassium (1.4), vanadium (2), manganese (1.5), iron (1.5), cobalt (1.4), copper (1.4), zinc (1.3), and rubidium (1.7)."

Been watching this for 18 months. Bought a slice yesterday.

Trek, got to say thanks to you. I've bought & sold small amounts of TXP for a while. I did my DD, and used the dips below 60p to add. Now, it's my second largest holding (currently PXC, TXP, DEC & small ALL and IQAI free caries. I would never have looked at TXP had you not mentioned it. The DD and 'low' buy in gives me confidence to hold longterm, which I much prefer (work gets in the way).

Further small update today, whilst we wait: "Navarre Creek drilling is progressing well by the way. We are ahead of schedule with the drill and I’m told the samples are being sent to the lab one at a time. There’s no current guidance on turnaround times but the plan is to report results as they one in. It’s over 100 degrees in Idaho right now btw." from DP today.