Member Info for MTSparky

Thank you for the detailed response Trek. Totally understand your June timeframe. Navarre Creek results is another potential SP moving news item so maybe you'll be back in for those.

The next RNS could potentially be the mother of all news blowouts Navarre Creek expo, ATS plus bond funding. AGM should be interesting.

Ramper, De-ramper, non-believer, eff off and sell.......it does make me laugh. You're all mad...lol

PMSL !! You obviously like getting caught with your pants down Purple....hey ho each to their own !!...lol

Trek, do you think Riverfort have a vested interest in raising the SP pre loan default ? Just thinking if they are going to forward sell stock (short PXC) the higher the SP the better for them?

“Yes we can repay RT and cover overheads, but obviously we are planning to do much more than that.” ….in other words we have fk all cash for expo CAPEX. No Riverfort money and drilling/assay company doesn’t get paid, PXC is no longer a going concern. Let’s hope this bond money arrives and Riverfort get their money back ASAP !

The full message:

John. The auditors require 18 months cash in the bank. Effectively to end 2024.

We can repay Riverfort and cover overheads to end 2024 with the cash we have. But there would be very little operational activity. We need the bond financing to realise our full plans.

The material uncertainty, which is fairly standard and has been included in our audit opinions before, simply reflects that fact. Without further finance it is uncertain that the company can operate as it wishes for another 18 months. Yes we can repay RT and cover overheads, but obviously we are planning to do much more than that.

……if you don’t need money from Riverfort you don’t take it. Why self destruct for no reason?

They need to pay off Riverfort which they do not have the funds to do or they A. Wouldn’t have taken the loan or B. Would have paid them back already. They only had enough cash for basic overheads not exploration et al costs.

At least I didn’t get told to eff off and sell my shares because I’m a non believer….lol ….de-ramper is another good one

It doesn’t look like there is a plan B in terms of paying off Riverfort which has to be a worry now. It doesn’t sound like RW is bothered. The bond sale didn’t complete as we suspected so pressure is on to get them away by the early June deadline and pay back Riverfort!! Interesting times. An RNS in June with Bond completed, Riverfort paid and Navarre Creek expo starting would be very welcome!

You’re paranoid Purple, get over yourself!! Questioning $80m of finance that has been promised for a year is valid. Trek et al agrees with me so we shall see. Weak at the knees !! Lol. Numpty.

What are your friends on the inside saying?

I think only on the basis that not repaying the Riverfort Global Opportunities loan is going to be so bad for the company if not repaid, they will HAVE to repay the $2m. I'm still not convinced $80m of bonds sales will arrive but maybe $1-5m of bond or other finance will arrive in time for the report and used to keep the lights on for 9 months or so and maybe buy long lead items. Just a guess.

Wise words bankrupty,...;o)......slightly nervous disposition sums things up well !!

Thanks for your valued input twattop

The problem is, the BoD have to say publicly they are confident and have patience bla...bla...bla otherwise the SP collapses. I just don't have a good feeling about these bonds being sold and i'm worried about the effect that will have on the SP.

I hope they promote the Navarre Creek exploration and potential of that asset better than they have in the past. We might be relying on Navarre Creek to retain our investment.

How confident are we the bonds will sell ?

Right on cue, 100k guy sells out.

The problem is that the SP moves on low volume so you get a single trader buying in 10,000 and 7,500 chunks up to say 100,000 total the SP rises and then the 100,000 sell arrives. The trader probably posts on this board too !

Well you would think with the news that is due in a short period of time there would be more interest here. Navarre Creek exploration starts in June FFS, this could be a multi-million ounce Gold mine.

Richard Wilkins
Let me try to help with the speculation. We truly believe the funding is about to close. Receipt of final paperwork is proving incredibly frustrating, not least for me, with accounts to sign off.
Since the bond issue is such a material event and changes the tone of the annual accounts, we have been holding back signature until the funding is closed. We appreciate however that we must sign the accounts off fairly soon and call an AGM.
That’s where we are. This is not a promise, a deadline, a milestone, a fixed timeline, just some guidance.
We will get there, and patience will be rewarded