Member Info for Sp28

- Basically a dual listing, PXC shares will be electronically traded in the US soon!

- Each PXC ADR traded in US will comprise of 10 PXC shares from AIM

- No new shares will be issued. Non Dilutive. For Bank of New York to create an ADR, shares will have to be purchased (removed) from the current issue on AIM.

- This has been created as upto now US investors cannot buy into PXC

- For further info - please read RNS from 5th Aug 21

Hence why I say, supply of shares will stay absolutely fixed, demand could significantly increase, inevitably price should increase. Opens PXC upto a huge new market, essentially their home market!

ADR's are very common, amongst many UK companies, like Astrazeneca, Burberry, Legal & General etc. They allow US investors to hold shares in non US companies, as there are many reasons and advantages for them.

All we have to remember, suddenly and very soon, demand and volume could increase significantly dependent on their appetite.

Fantastic RNS this week, and many will have been shuffled out.

Just got to sit back, relax and be patient.

Star786 - The CFO himself has clearly communicated, there will be no buying in anticipation of ADR's, thats not how they work.

ADR's will be packaged only when the program starts. And they will then be electronically traded on the US exchange. Effectively giving PXC a US listing, from the current free float here!!

This is the key. No new shares will be issued, hence zero dilution. Any demand from US will have to purchase shares from the current issue of 116m shares.

As I have stated before. Simple economics. Over time, volume will increase, and demand for PXC shares will consequently increase, which only means one thing.

Once this is up and running, end of sept, beginning of oct, things should really get interesting.

Whoever got rinsed out today, imho they will be regretting this very soon!

Markets are rigged to rinse holders, just got to look at EUA last few days! Best of luck to peeps there, fully deserved.

Maybe traders out, who were expecting EM surveys to come out by now. Always stick to deadlines!

However this move looks completely over done!!

Yep over 16% down now on what looked like a very good solid RNS, quite perplexing!

- added value to the oxide resource
- proved previous grades mined between 6-8%
- very early indication of the tungten and molybdenum porphyry

All from the very first drill hole!

Nigel Maund report stacks up perfectly!Coincidentally his report is available on Phoenix Copper website as of 1st of Sept!!!!

Funny how markets work.
Anyway long and strong, not going to shuffle me out of any of my shares.

We should expect an announcement very soon on the exact date when the ADR program will start. Usually they know 2 weeks prior to US listing.

Although very thinly traded, funny how PXCLF in US has decoupled from share price in the UK in the last few days. Yesterday PXC is US had ita highest close $1.17 = 85p.

Once ADR programme starts, it will get very interesting. Any interest from US institutions, expect volume and price to significantly increase!

"No new Ordinary Shares will be issued to establish the Program, with ADRs being created on demand via the acquisition and deposit of Ordinary Shares"

This is HUGE news!!!

Sulphides would be a game changer, Porphyry would be MEGA!

"In addition to the elevated copper, gold, silver, lead and zinc values in the KXD21-02 assays, tungsten is present in anomalous concentrations as high as 1710 ppm (0.17%) and molybdenum as high as 1365 ppm (0.14%). These values are consistent with the values anticipated by Nigel Maund in his 2019 Empire Mine report "A REPORT ON A FIELD VISIT MADE TO THE EMPIRE Cu - Au - Ag - (Zn) PROJECT, IDAHO, USA", wherein evidence is presented for an underlying molybdenum/tungsten porphyry at Empire.

Just think about it, you don't hit a 8%+ copper seam randomly! This is a clear indication of a much bigger resource sat below the oxides.

The theory is being proven like textbook.

Everything on track.

6-8% historic grades proved

Sulphide system exists

Not only Copper, but Gold, silver, Lead, Zinc.

1st of 20 holes, few more sent for assay.

Theory proven correct. Fantastic

Short term traders out. Sell on news brigade. Opportunity for others.

Any other company would be ecstatic with grades of 2-8% from their first hole!!!!

Surely something will give very very soon.

Expecting the EM surveys any day now, followed by the assays.

Happy to wait a bit longer, for them to communicate it well, than to rush anything.

Next 6 months will be a complete game changer, so much newsflow, so many major milestones, feel like it will be a completely different company, a grown up company.

EM surveys
Assays across the full portfolio
ADR programme starts
Funding for Empire Oxide Mine
Permit for Empire Oxide

https://www.mining.com/goldman-recapitulates-5-a-pound-copper-price-by-end-2021/

And if GS are right (when are they ever wrong), thid will go ballistic.

H2 2021 and beyond copper is going to be in deficit! Medium to long term prices are only heading one way!

A placing could be fantastic, if done at the right price and money utilised for the right reasons. Every $ raised would enhance PXC assets.

Lets just say if they were to issue 10m shares at 200pence+, for further exploration which would significantly increase resources, then I would be all for it. They have plenty of cash right now, for drill programme in 2021 and 2022, so "IF" this was to happen it could take place in 12-18months time.

Flip side is, by then Empire and possibley Red Star could be in operation, throwing off maybe $6-10m of free cash flow a month, hence why the BOD are thinking no more raises!!! Which I can totally understand.

Therefore in the short term I expect no more raises. Fully diluted PXC have only 136m, to get to 146m, would make no difference, 7% dilution for atleast £20m in the bank, and pursue exploration agresively, and add further value.

Whichever way you look at it, EXCITING times ahead!

Mm's done extremely well to hold this down.

Buys vs sells atleast 5 vs 1 today!

Including a £75k and £85k buy!

Copper is on fire!!!

Already looking forward to next week.

For new US Institutions to buy in yes they would!!

No new shares have been bought by BNY until the ADR programme starts, the BOD have already clarified this!

Fantastic summary by Aim 81 from Telegram:

PXC

Think about the rest of the year:

- Sulphides assay results early Sept

- Navarre Creek Gold EM survey & Red Star Silver EM survey RNS soon too

- News on debt financing later in the year maybe, 12-18 month payback at current Copper price

- Production readiness news/updates, Production late next year

- Copper demand set to increase

- Very well funded (for years)

- US ADR process to kick in (increased US buying)

- Continued excellent shareholder engagement (well done Board)

The share price now, despite the recent rise (which has consolidated very well with lots of dip buyers) will be long gone and in my view we’ll be significantly higher

Long term / high conviction hold

My 500-700p+ personal LT targets could prove conservative

Very low volume. Mm's doing their job to rinse the weak out of a few shares!

And posting on these boards, even lower ;) the frenzy has not yet started, and the hoards have definitely not arrives.

Looks like veryone patiently and quietly waiting for game changing news on multiple fronts.

Knowledgeable investors will swoop everything up around these levels.

I just had a small final top up, thankyou very much for that :)

Just got to show a little bit of patience, good point to top up now. Loosening out the weak holders, before next leg up.

Newsflow now imminent, I would say days away now.

Eyes on the big prize.

DYOR

Not a direct comparison.
2 completely different companies. PXC far superior in many ways.

I was in AAZ a few years back, remember when EM surveys came out, the share price was propelled from 70p to 175p pretty swiftly.

IMHO, and with the early land taken at NC, the EM surveys can take us past £1 pretty quickly, lets wait and see, any day now.

Hardly any interest here! With so much newsflow, only my solitary post today :)

As in the whole point in them saying 'no more raises' adds credence that shareholders wont be diluted, esspecially for nothing. I.e opex expenses.

'If' (very unlikely) a riase comes in say 6-12 months, 10m @ £1+ to significantly increase shareholder value, eg by agressive drilling, development etc, i would be all up for that, i'm guessing all shareholders would be happy. Total no of shares would increase from 116m to 126m, means absolutely nothing.

Any raise would only increase shareholder value.

However I think its very unlikely. As they are fully funded into 2023 with all their current plans, and late next year Empire Oxide Mine will be throwing out atleast $5-6m free cash flow each month!!

Unless something crops up which is too good to refuse. PXC are in such a comfortable position.

Onwards and upwards.

£96k buy just after the bell yesterday.

With the impending newsflow I expect PXC to fly past £1 very soon! Maybe towards £2 by end of this year.

Remember with current shares in issue only 116m, and with the BOD stating they would not like to issue anymore shares, this CAN and WILL move extremely fast!