Member Info for MTSparky

Investment summary: Our DCF valuation is 31p/share, based solely on the silver mine, a cautious (for now) 15% discount rate and a long-term silver price of $19.00/oz. PXC’s share price is highly geared to the upside thesis for silver (and copper), with each $1.00/oz adding an estimated 6.2p-6.3p/share. Shares (m) 60.17.

So based on silver at $24, value of Red Star with 320m of Silver ore is about £30m. Now the geologist think and EM survey plus drilling may prove, is that the silver actually extends for about 3km to the historically mined high-grade Horseshoe and White Knob claim blocks. This asset is very exciting and could be worth multiples of £30m. You can sense that excitement when Ryan talks about it in the investor webinars.

Red Star Highlights
- Confirmed potential of further high-grade silver and lead at Red Star
- Likely extension of Red Star through to the historically mined high-grade Horseshoe and White Knob claim blocks
- Association of high-grade silver mineralisation with the magnetite-bearing skarn formation, thus allowing a magnetic geophysical survey to optimise an ongoing targeted drilling programme

....;o))

It is comforting to see that PXC have started drilling identified targets before the official report is issued. They clearly saw enough from their own interpretation to start drilling straight away and beat the winter deadline.

We should not have to wait too long for the Red Star data and the silver lies about 10m under ground. Unless of course the feel the Sulphides extend below red Star and are drilling deeper down for that reason.

TREK - "Point is there’s the evidence for a rapid turnaround for any subsequent drift and when we do get a really blockbuster of an RNS I think we could be surprised at the SP rise."

.....not much TA or evidence in that post eh Mr Pretentious.

A little ahead of schedule but a crack at 80p today then !...lol

Text book super performance stage 2 happing IMO. The geologists have been spot on so far, Sulphide/Porphyry here we come !! …;0))

just bought some more. Nice base forming. Can see a crack at 80p over next week or so. If broken I can see another plateau about £1-£1.10. So much value adding news to come sky is the limit….;0))

Nice base forming so another attack on 80p looks likely. All looking very good for a long and sustainable stage 2 bull run.....;o))

...just tweeted a very enticing message from Trent Mell CEO of first Cobalt ".....the host rock sequence to the sulphide mineralisation in interpreted to extend to the Redcastle property, so we believe the prospectively of the area is quite high"

......oooosh this gets better with every day that passes...;o)))

are walking a tight rope. They want shares so the SP walks down and triggers stop loss but they are triggering buy orders at the same time. If we go back to 45p that's it dolly out the pram !!..lol

It is worth remembering that the Sulphides that are being drilled and tested could yield around £8 billion. The scale of the resource is huge. The ore system feeding the Silver at Red Star, which could be 3km in length must be a monster all indicates a Porphyry system at depth.

Red Star Em survey and drilling could re-rate the SP. We are told 3km of high grade Silver could be found plus what ever else the survey picks up. 320m of Silver was worth about 70p/sh, so 3000m of Silver would be pretty good news !!....;o))

…prior to Sulphides core sample RNS the share price plummeted. Keep your eyes on the prize!!!…;0))

Abso..bloody...lutely. HOLD FOR GOLD !!..;O))

….institutional buying. I said this could happen and it does look like this is the case. New directors doing their bit. TR1 would settle the “it’s MM pump and dump” fears…;0))

I have a base case target of £1.50p ish. If we prove up more resources than we currently have then it’s dreamland time…;0))

I thought I heard on a webinar they were going to drill the Porphyry. Must have dreamt it!!

The mind boggles as to what happens if PXC prove up the Sulphides AND hit Porphyry. Will PXC ever get to produce Empire?? How much would you pay for £8billion ish of Sulphides plus Porphyry?

"historic Copper grades were 6-8%, and latest drill cores showing 25-75% sulphides!"

...and what are these facts evidence of.......PORPHRY !!...;O))....LOL love it.

What I understand is that the company "know" the extent of the Sulphides but the drilling is going to provide sampling results and give them a 3D visual of the Sulphide volume. If the sampling yields high quality then I am guessing we re-rate again. ;o))

...from the company on Twitter. "We look forward to updating investors on the Sulphide drilling results...."

oooshhhh this is getting exciting !!...;o)))

Very doubtful I would say. A Porphyry system would be too big for them to extract. More likely PXC will get sold to the highest bidder.