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Sportbilly1976 i was lucky enough to get in at 20p during the lockdowns and 3 bag so sold my original stakes worth and more at around 60p which meant i was left with a small tranche of shares which effectively only cost me £20!
However, believing in the BOD, i put more money in later down the line thinking funding is just "one signature away" and as a result my avg now sits at 17.44 which isn't too bad.
I've learnt with AIM (after being burnt so many times) to just derisk where possible with no emotion, this one ticked so many boxes and yet they still might screw it up. Just got to wait it out and see what happens now.
You can have a free carry at any price around the current sp to de-risk totally?
Unless you have massively added in the recent week or so, that suggests you have been invested here since the sub-10p dip in 2020
Capital difficult to come by as the baby boomers retire and move into T bills, take their money off the table - so those projects that do get finance are top tier and have passed rigorous due diligence - Phoenix likely to have passed this process and just waiting on final approvals, or they would have gone the traditional funding route by now.
copper in high demand and growing with green tech reqs
if mining development timeframes are not what you may have patience for, then should move on to faster moving plays.
Yvoo..off topic on PXC..........I always fail when Big Jim is at the helm.....so I get out when he arrives!
Agree EnglishPatient,
This looks like its going down the path of pump the share price with whatever news possible then go the dilution route. Problem is, the dilution is likely to come in stages so a slow death for all holder with constant timeline slippages before the eventual nail in the coffin. Seen it time and time again. Purchasing 2 mills means nothing, i am holding share in a company that purchased a mill 3 years ago, at the time it was euphoria and production was possible in 12months. Fast forward to today and the mill is rusting away and the company is trying to find a buyer for their gold asset but hasn't got anywhere despite 18months since the for sale sign went up
I'll be derisking totally on any rise and let just the freebies run, BOD let themselves and holders down on this one.
Well we've waited almost 2,000 years....thank The Lord PXC will be resolved before then....lol!
The faithful here talk about debt finance coming a bit like churchgoers talk of the second coming of the Lord. If this was such a great opportunity this would have been sorted out long ago, meaning the debt is never coming.
Hmmm ,,, I’m encouraged to the point of being back in. BW
"all interlinked" as you say Tiburn!
Agreed trek, difficult one.
Perhaps the CEO doesn't wish to re iterate "Bond coming " yet again as has cried wolf too many times.
Equipment purchased with the limited funds available is a good sign of the bond finance coming imo, as if at risk they would surely husband their limited resources until funding gained. Equally RF would want to understand their pay back timeframe to agree to this facility, all interlinked.
I expect when the new "enhanced" Riverfort Agreement Documentation has been executed (within the next 10 days presumably) and rolling over the existing facility within the new facility to boot.........then the Bond Finance will be touched on.....my best guess....let's expect another RNS by mid next week then?
GLA
No mention of bond finance. Not even a nudge and a wink.
On 5th Jan RNS and the 26th Jan RNS they gave a heads up on both the loan extension and that the bond financing was progressing.
Given that we should now be closer to the end of the ‘satisfactory conclusion of discussions with interested bond investors‘ then why no mention at least especially given how nervous some investors are and following some large trades last week.
Don’t get me wrong the second had equipment is a great result but they just don’t make it easy for folk to make decisons. It’s fine wanting blind faith and trust but you gotta earn that through timely delivery!
Usual caveats
Trek
Good news at last.
Purchase of Equipment
The Company has executed an Asset Purchase Agreement (the "Purchase Agreement") to acquire two pre-owned ball mills to be used in the processing circuit at the Empire open-pit mine. The closing and funding date of the Purchase Agreement is 15 March 2024 and is subject to a final inspection and inventory of parts and components. Additional information will be provided following the closing date. The Directors believe the purchase of these mills at a significant discount to the price of the same equipment when new, should have a material positive impact on the Empire mine project economics, as well as reducing the time required to purchase these long lead-time items.
Refinancing of Short-Term Loan Facility
The Company also confirms that it has agreed terms to refinance the Existing Facility into an 18-month term loan (the "Term Loan"), and is currently finalising the legal documentation. Pending execution of the Term Loan documentation, the lender has agreed to waive its conversion rights on the Existing Facility until 1 March 2024. Further information regarding the Term Loan will be provided following execution of the legal documentation.
ATB
Lets hope for a positive rns Monday morning.
Up 14% Roy ! I must be good at it...;o)))
MTRampy
Once the heard arrive and there is a whiff of finance the SP will rocket
In the right direction for a change!
Faith is not the word I would use.
Thanks pal
moggey70: try this https://**************i5hndxg-lutknvtljgwq1a
if it fails, on the telegram app message @pantsonfire888
he is an admin.
btw, aside from some (interesting to me)chat about procurement, telegram is virtually silent. without noise there is no echo. no doubt the volume will turn up on rf, procurement, bonds and pfs. back to waiting. 🙂
VisitTimor on trades being sell or buy :
"Take a look at the real LSE, only like all world markets PRINTS TRADES, no buy/sell/unknown red/blue labels, you see a label and it is a 100% Best Guess by the Dumbo Algo, which may or may not be sat on the correct mid, at the time of rehashing the real LSE print, this London South East LSE, like the rest, try to establish trends etc, failing miserably on most shares daily. Its what we are stuck with, Real Exchange declined the offer for the quick modern tech fix required, to produce real time data at source.
They chose tradition over tech and also view every TRADE they print, as both a buy and a sell, eg you the buyer via dma or broker from a market floor trader MM the sell and any other combo you care to come up with."
Someone has obviously had enough faith to buy them..
Not sure about that sell. the SP drops on a £500 sell and the SP hasn't budged...
Maybe it's their trade?
Rats leaving a sinking ship.