Explorer prospect
Anyone doing homework on this company
Only just happened upon it, any study?
No but will be keeping eye on them
I had a small dig around and it looks like it could be worth a punt
I’m going to build a small pot and sit for while
Stock not available on GIA.
I have been trying to gain some exposure to copper and invested a little in PXC. Good to see a nice little rise today, perpetuated by an all time high price and other factors.
Currently 21% up today.
IMO it’s due to comments included in the half year financials today regarding the likely debt financing PXC are seeking to start production of the Empire mine.
I think the market was convinced we’d see a placing to raise the funds but comments today mentioned multiple parties interested.
Current copper prices mean that they could pay back the debt much quicker than previously thought (due to much higher copper prices) and so PXC looks to be bouncing back from what looks like an oversold and unloved position.
Glad I put some in my SIPP last week… this should rerate over the next 12-18 months as they begin production as well as continue exploration at the multiple tenements all based in Idaho (one of the top mining jurisdictions in the world).
2 Likes
And there it is…
$60m of planned non-dilutive, non-convertible loan notes repayable after 10 years are currently being worked on.
This will cover the capex to get the Empire mine up and running and it should be cash flow generative next year.
This hit highs of 80p last year with weaker fundamentals at the time - no further dilution is significant here and the market is being slow at pricing this in IMO.
Strong period of late. 66% increase in price over past month or so. Was a bit of a mining sector punt this one. Based on copper requirements in EV/battery sectors. Was kicking myself recently I didn’t load up when down at 0.13 area. Though. What can you do when the funds aren’t available. Can’t catch them all.