Member Info for Xenor

"copper price so low"

Have you looked at a copper chart recently? It may be down from its high but it is still higher than it has been for the majority of its history. It has only really been higher during the post covid years and a brief spike in 2011. If you can't make a profit at 3.68 you may as well give up.

Buys are showing as sells today. I made two small top ups at 08:08, both red.

Every monthly report we've had this year has had a spike leading up to it and a dump on news. I expect the quarterly report to be the same. I expect 2000 tonnes and a red day. The old buy the rumour, sell the news. That's how the market generally goes.

Sustained buying between news is what will give us a rise we can hold on to, as people naturally see the value of the company. People buying a few days before expected news are only here for a trade.

In a couple of months we should have four months of 650+ production behind us. That should be enough proof.

I got out yesterday at 17p. As soon as CLNs start being converted in a share it's time to bail as you can assume the whole lot will be converted one tranche after the other until the company pays off the debt with better finance.

Probably bored PIs who bought in 17s or low 18s selling for small profit to chase other rainbows.

Probably more than one person running that account.

I'm in another share that tried CLNs. The loan company kept converting one tranche after another until the company cleared the loan with better finance. Meanwhile the share price kept falling.

If people are selling multiple 1 million shares at a time we're hardly going to see the rockets people keep expecting.

I agree 30p isn't great either, but it isn't going to shoot up to £1+ overnight. I'd take £1 end of next year at this point. The main problem we've had with the share price is holding on to any rise, because as soon as we get to 35-40p some bad news comes along and sends us plummeting. I'm hoping those days are gone.

Also agree that it is in their best interest to get the share price up in case they need to raise cash. Hitting targets and showing profits will do the talking there.

19p is good when we were 16p a couple of weeks ago. Overall it's ****, but if we can maintain that momentum we'll be 30p by the time results come round again. I suspect we'll get a bump when the H1 financials come in as well, so it's not all about waiting until October for the next catalyst.

Weren't we not meant to move because there are no monthly reports?

Maybe some traders didn't read the full RNS in July and are buying now expecting a monthly report next week.

DJ tends to be appear with an increased holding around results and then disappear after results when the share price drops. Probably see him again end of September.

I think a share price of around 40p by the September reshuffle should get us back into the FTSE250.

So that train that was stopping at the 19p and 20p stations on Thursday and Friday... Did it crash? Or were those people pumping and dumping this?

This price is a gift. Only thing stopping me adding is that I'm trying to not fall into the trap of being all in again because there is always a risk it might not work out. But for anyone new looking at this the price is a gift.

However anyone new looking at this will be wondering what our costs are and trying to work out profits based on current copper price. Good luck with that. This will rise once those unknowns are resolved.

I'm quite happy with my large holding (not quite as big as 3G as I'm not rich but it's still around 70% of my portfolio). I care not what the share price is in 1 month, 3 months or even 12 months. I'm looking ahead to 2025 when we should hopefully be producing over 20k tonnes a year in a copper supply shortage. If the macro outlook over the next 6 months wasn't so poor I'd take the risk of going deeper in at this price.

I think the driver went on strike, still stuck at the 18p station.

The Q3 results isn't the next significant news we're getting. We will get H1 financial results before then, which will be quite positive. So it's not really the case that new investors will be waiting months for the next news.

Value will come here. Just a case of sitting and waiting. The next 6 months macro outlook will be poor in my view but medium to longterm there will be a shortage of copper that will take the price to new highs. Good profits will follow, and the share price will follow that. Only really an issue for short term holders.

If we were getting a production report for July I would expect the share price to start climbing next week and then retreat back to where we are now after the RNS and traders sell out. Instead I'm expecting a rise end of September with the same trader movements.

For the share price to rise and stick we need investors, who will buy organically between news releases. This will happen once we start posting profits. That's more important than anything else. H1 results should show profit.

As for copper price. We should be rising on this but the big question is whether this is a recovery rally or a bounce on a downward trend. Unfortunately I suspect the latter as the macro economic outlook hasn't changed in the past couple of weeks.