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Basically all debt and leases are paid first and if there is anything left over (unlikely) shareholders are paid with that. Pretty unlikely in this situation
Fantastic news, you should remortgage the house and top up
If there was a possibility of shareholders getting some money back, through the sale of the assests, how does this work?
This was my only investment and I want to close my accounts down, to stop paying monthly fees.
Any help will be greatly appreciated.
Trust me shareholders are last in the feeding chain.
You’ll find JM is Chairman at Zinnwald Lithium.
Administration is very good news for shareholders in HZM scenario provided Administrators sell the assets and distribute proceeds fairly
Oh well. Win some, lose some
What's the best that shareholders can hope for here?
Jeremy Martin took nearly £8m in salary since 2010, never had any meaningful shareholding in all that time, when and where will he resurface one wonders ??
I am sure shareholders here will be watching.
Sad to read this news as this company and its team had such promise at one stage and were saying and doing all the right things. I was in heavily but got spooked at some point by the direction in the tone and terms of its mining finance partners. Hope shareholders can recover and rebuild across their other investments.
Suspension!
Sorry to hear that rover, sorry for anyone really who's seen this through to the end.
I have only 2 pieces of learning / advice to people
1) don't beat yourself up over it. Many smart people get caught out.
2) don't try to make anything back by increasing risk exposure elsewhere.
The major learning point here for me is at the first sign of trouble EXIT!
You can always buy back at a later date if things improve. As a private investor you should always protect yourself. Do NOT listen to those little devils on your shoulder.
Failure came for different reasons, financing more was not logical as interests adding up was a big problem and Company wasn’t producing anything. But , assets value has increased and still there.
Sorry for your loss Rover.
Perhaps you can make some profit from the coming gold and silver rush.
Have a look at Don Durrett's site Goldstockdata, interesting, remember to spread your risk by investing in several companies. GL
Unfortunately that’s a pipe dream, shar we holders won’t see a penny. Such a shame Hzm messed up so badly. This should have been an excellent project. Turned out like many other aim projects, just a management money making scheme.
Why do you think CAPEX is worth anything in a fire sale? Who is coming along and paying hundreds of millions of dollars for undeveloped assets?
As I said utterly mad. If this was the case, why do you think no one else could see it and the SP has been trading at next to nothing? You really think you are the sage here as events so far indicate not.
Telling is not enough, there is definitely recovery for shareholders, minimum recovery is 70p , maximum 150p. Resource is intact, lot of CAPEX already done, around $130m debt is not drawn yet. So total debt is $300m or if not correct, it’s $418m. Either way, it’s going to generate value for shareholders
You’re utterly mad - any recoveries here will get nowhere near clearing the debt, creditors will get pennies on the pound, shareholders won’t get a sniff as the company have been telling you for months now.
All your figures are utter fantasy
Wth are you talking about 😑
IMO, it’s an ideal scenario for shareholders, they are bound to make hefty profits. Myself averaged down
I knew it was a distinct possibility but was hoping it wasn’t going to happen.
£255k down.
😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡😡
In this instance, HZM is the parent, I believe. Araguaia Niquel Metais Ltda, is the subsidiary company developing the mine
The parent (from the sources of external equity, retained profits and bank or other debt) can subscribe both equity and/or debt to finance the subsidiary. It could also persuade a bank (or other lender) to lend directly to the subsidiary.
Just to be totally fanciful it could mean government or state funding as they may not be allowed to fund international companies.
To be honest that suggestion it truly ridiculous
🤪🤪🤪🤪🤪
What exactly does this mean:
“options include financing at the subsidiary level”
Surely if they were to finance at a “subsidiary level” HZM would remain intact or it could be considered insider dealing ?
Any thoughts?