So something SIGNIFICANT is causing the news blackout? Buyout the remaining 20% from Exgen?? 🤔5 Sep 2024 10:17
News which is clearly well overdue:
Next tranche of the Bonds
PFS
Any development updates
And then no investor roadshow, no presentations, no updates not even on social media and their own website about anything really.
What could the news blackout be????
What if PXC are in negotiations to buyout the remaining 20%, this would change EVERYTHING! PFS needs adjusting, economic model needs changing etc. There would be no point issuing everything, and the whole dynamics changed! Remember 1 of the BOD saying few years ago when it comes to development, and they can't afford their share of the capex costs, we could buy them out.
From PXC FAQ website:
"ExGen Resources Inc. owns 20% of Konnex Resources and holds a 2.5% net smelter royalty on future Empire Mine production. Phoenix and ExGen are both required to contribute their share of pre-production capex per the feasibility study. If either party does not contribute its share, that party will dilute its ownership in Konnex in accordance with an agreed formula"
Seems like a very logical explanation for this news blackout, we are at the cape stage, and Exgen can't pay their share of the cape, NIU have backed Phoenix to buyout the remaining 20%, so PXC become 100% owners, and hence have to wait for the transaction to go through, and also ammend the PFS and everything else to reflect this.
Just putting 2 and 2 together. Seems like the most plausible reason. We will find out one way or another pretty soon.
Then it's all systems go. And today's price will look like an absolute bargain. Be greedy when others a fearful....