Member Info for Steve4077

Good spot fulmar. Previous extension had NvS comment as:

"I am very pleased that we have continued to make good progress in the negotiation of a transaction with Anglo American in respect of the proposed Joint Venture. We are also pleased with the progressive reforms being undertaken by President Hakainde Hichilema's administration and the Ministry of Mines. I look forward to moving swiftly to signing all the final agreements and to updating shareholders shortly."

Which is very different than the comment in today's RNS. Maybe trying to tell shareholders something without actually telling them :)

Seems a like a very important statement to 'accidentally' miss out.

>> The market seems to be saying funding won't happen. This is down 50% in 1 month.

The share price was 44p on March 7th, so its actually down almost 60%. However, total volume across that period, including buys and shares traded more than once and including today, was just over 10m.

There are 122m shares in issue, so over 90% of shares haven't been traded in that period, which means 90% of shareholders (by value) seem to be saying they think funding will happen regardless of short term price movements.

>> Market does seem to be hinting at another delay.

Total volume today is 127k, which is 0.01% of shares in issue, or 1 share traded for every 10,000 held. The market is doing nothing at the moment. Headline share price is due to a 2400 share sell.

>> WHY only this group can see the potential whereas the rest of the investing world is 'not' buying the story?

What % of the 'rest of the investing world' do you think has actually researched this particular small-cap AIM company in any depth? There are thousands of listed companies. I do a lot of research and I doubt I have researched even 0.1% of them. The vast majority of investors seem to do very little research.

So you really need to compare this group to the tiny fraction of the 'investing world' that has researched PXC enough to make an informed investment decision.

Considering the dilution from today's RNS is only 1.6% and only happens if the share price doubles from this point, I think the 'dilution experts' are failing miserably.

Yes, the total cost of the loan (assuming bonds in the next 3 months) is $80k, or 0.1% of the bond value.

In the RNS it states: "Recognising current market conditions, the coupon payable on the Bonds has been amended to the higher of a copper price coupon or an interest rate coupon."

That suggests that the potential bond holders were (obviously) well aware of the macro environment and fast rising interest rates, so it would have been crazy for them (from their perspective) to agree a bond before they had an idea of where those rates might top out. This amendment seems to avoid that problem and should prevent any further delay on that basis.

Apologies for the random trailing sentence :) Not the best forum UI.

I'm a new investor to DEC. I've read the RNS, looked at the company website and read this forum, which has some quality posters. However, I am always looking out for other information sources. Are there any telegram or discord groups, or any particular presentations, interviews, etc., that you recommend?

high quality forum, but I am looking for other information sources for research

There is a 6% drop today on 795k traded. That is 0.1% of shares in issue, or 1 share traded for every 1000 shares held. Seems like a large drop for such minimal volume. MMs games I assume.

Is there a Telegram group for PANR?

Is there a Telegram group for COBR?

Currently 8% down on just 400k shares traded. That is 0.17% of shares in issue, or 1 share traded for every 600 held.

No real selling pressure, so either MM games or just general market uncertainty.

Volume is about 1 share in every 300 traded - about 0.34%. Its not even the highest volume day this week and its only Wednesday :)

Is there a telegram, group for PANR? If so, could anyone tell me where I could find a link?

(don't post the Telegram link directly in here as LSE doesn't like it)

Thanks Cygnus7 - we are probably not that far apart in our views, but are just placing different emphasis on point 3.

Good luck with your investments too!

>> I repeat, there is no way they are agoing to leave 1.3MT+ of copper in the ground in a convenient location in Auss.

Yes, I used to believe that too. However, I eventually came to three conclusions:

1) Unless the copper price is high enough, it isn't economic due to the grades and (as the RNS admits) inferred isn't good enough to effectively plan a mine so more in-fill drilling is needed to raise that to a reserve (exactly what other companies are doing). That needs money from somewhere.

2) Even if the money is available from FB and the drilling is done to raise the JORC status and the copper price hits $5. the majors will still need to be confident that higher price is the 'new normal'. Otherwise, potential price volatility is too much risk for a large investment that requires a high copper price

3) Even if the copper price goes to $5 or $6 (which I think it will ) and looks like staying there (which I also think is true), the majors still have to choose where to invest and XTR is going to be further down the list than potential mines that break even at lower prices.

I decided to invest in options that are potentially higher on that list and also in more general copper stocks.

>> Those who think this is an admission that the prospect is non viable then you need to ask why continue with the f****?

Do you seriously think that if the model came back as non-viable, XTR would just release a clear RNS to that effect? Instead, they would prevaricate and obfuscate, like they and many other AIM companies do all the time. Eventually the project will just quietly disappear like Kalengwa, Eureka, etc.. Why do you think there is a new distraction in Zambia?

At some point, you have to take off the rose-coloured classes and realise what is actually being said in the RNS.

Or alternatively, consider that if you were not currently invested in XTR, is this where you would invest right now? When I asked myself that question last year, I sold and put the money elsewhere. Still very much weighted to copper BTW - I believe that part.

>> What on earth does that mean?

It means that if someone provides a billion dollars worth of processing plant, transport networks, power systems, mining equipment and other infrastructure for free, it looks like a good project.

I don't think I have even seen a mining study before that excludes capital costs to make it seem economic. Very innovative.

I am sure if there were any versions of the study that were even close to economic, they would have been front and centre in that RNS. Instead, more drilling, more studies and no end in sight.

Apologies accepted.

Yes, I'm not invested but read the RNS.

"Alkaid represents less than 4% of Pantheon's resource base, is independent of Pantheon's other discoveries, and is Pantheon's first production test well in a new geological play type".

Why is it so far down on a problem with a small portion of the resources?