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Should also have say I’m trading this not investing.
Better trading so you know I think 🤔
Cont, when I say a few I did mean a few. Just enough to get a meal out.
I think it’s just a pump and dump
Drunk zombie mode after being bashed head-on by a locomotive. I don't know what the technical trading term is :)
Rover - you'll never learn
17% up on a 22% spread ?
I’ve bought a few but I suspect this is just a pump and dump.
Looking strong for this afternoon
Going through
Leaky leaky
MM's have doubled the spread to 25% so don't want any trades currently, do the sniff something coming??
Anything could happen here. GLA
Unfortunately I think this statement says it all
“ The Company does not believe that any of these options are likely to recover any value for the Company’s shareholders.”
Last night at nearly 6pm over 1m in buys and first trade on the book today250k@Full ask.
A year ago would have cost over £2,000,000,000 crazy how things can change on the AIM casino!
Got to be a punt here, "Talks with creditors continue"
Vermilho is massive. try and keep it first if a deal with cornerstones can be reached
Another 1+ million shares sold on today. Who is buying them?
Ask
1. Why they don't a particular solution. Why didn't add additional 2 share to 1 old by price 20 p. There will be 130 mln S
2. Vermillo.... Why didn't sell it?
Not to mention that the $/£ buys a lot more Brazilian Real than it did when financing was needed. So everything purchased or staffed in Brazil should have been cheaper imo.
There has not been enough detail given to shareholders about the cost over runs. The whole thing has a bad smell!
Everything around .42 is a buy .40 is a sell
I email the company last week. They have kindly responded as below:
Thank you for your email. As Karim said in our last release, the Board and management are extremely disappointed by the results of our effort to attract financing into the Company and regret the impact this outcome will have on our many stakeholders.
Since the end of November 2023, the new management team has stabilized the business and undertook a comprehensive audit of the cost to complete and business plan to critically assess the current viability of the Project. The results of this audit demonstrated Araguaia’s project fundamentals as a robust 1st quartile operating cost asset, but also highlighted a significant increase of the cost to complete compared to previous estimates.
Despite an extensive engagement and global roadshow, the majority of investors cited the unfavourable nickel market environment as the reason for declining to pursue the opportunity further.
At this time, HZM is now considering alternative options for the Company’s subsidiaries in the interest of its secured creditors, which may include raising financing at the subsidiary level, a sale of the Project whilst in care and maintenance, the liquidation of the assets of the Project, or other options available under Brazilian laws. The Company does not believe that any of these options are likely to recover any value for the Company’s shareholders.
The Company will endeavour to keep the market updated with any developments in due course.
Showing as sells, usual manipulation with a wide spread! Any sniff of positive news and the sky is the limit. Down side from here is 100%, upside 1000's% worth a small punt? I think so :-)
Nickel will shine again not like the previous surge. Restrictions on Russian nickel will take the toll. Because if not wrong, its premium segments or higher class contribution to metal is very high between 6% to 40%.
Its ironic that the Nickel price was up over 4% on Friday (now spot is over $19,000, Dec 27 Future $21,700)
2/2
It really concerns me how this has been handled, clumsily written RNS’s with no follow up explanation, no emails from the company with detailed updated or Proactive Investor interviews keeping us informed, just RNS after RNS each time halving the value of the company.
The first questions I have is where is why haven’t we been able to connect the power lines and energise the site?
All 126km of power lines are in place, Twitter has pictures of Jeremy Martin viewing the construction of the substation in Sept 2023 and the last pictorial update show what appears to be a completed substation with transformers in place with a power supply building completed.
We were told that the delay was due to connecting to the Hydro dam, that energising the site was on the critical path and money was been diverted to it and that it we could see a connection by early 2024.
It’s now April and not a single word, we could really do with this win and it seems easily obtainable.
The ability to show that we have successfully completed a major part of construction and that no more cost expected is hugely significant and potentially transformative but nothings mentioned.
It’s also a chance to showcase the low cost power supply deal we managed to obtain as well as Horizonte’s green status. It also evidences how far construction has come, why haven’t we got this done?
Secondly why hasn’t the PFS for line 2 been produced? Much of the infrastructure is shared so included in line 1 costs, line 2 PFS should be easier to produce and come in at significantly lower cost with a shorter and less risky build for the same profitability as line 1.
We’ve already completed a good part of production, the furnace is on site, piers for the rotary kiln poured and the rotary kiln in place, these are now known and demonstrable costs that strengthen the credibility of that PFS
In addition in we’ve already purchased $60 million of the equipment for line rotary kiln for $7m, only $600K of which is up front. We have known what that equipment is and its cost since December 21 so this should have made line 2 PFS significantly easier
Given the profitability of Line 2 is the same for line 1 and 2 and you’re looking to raise finance I don’t know why this has been delayed, it should have been issued very shortly after the updated line 1 but again no news
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1208-tsx/hzm/112103-horizonte-minerals-plc-announces-acquisition-of-ferronickel-processing-equipment.html
I don’t see either our former CEO or our current one hustling to make this work. I’ve emailed them several times over the years with various questions but never got an answer perhaps if we all ask them the same question then maybe we’ll all get a reply.
I’m currently off after an operation to have my tonsils out so have more time on my hands that I normally would and this is a long one so feel free to bug out when you get bored.
I’ve been heavily invested in Horizonte for some time and been thinking about the situation we find ourselves in and wished to air my thoughts and ask you to do one very simple thing before we finally go down the toilet, can you please send an email to Horizonte investor relations asking three simple questions
https://horizonteminerals.com/uk/en/contact/
1) Why haven’t you completed the feasibility study for A2?
2) Why haven’t you done a Proactive Investor presentation to update Private Investors?
3) Why haven’t the power lines been completed so the site is energised?
The reason for this is simple, I’m calling bull$hit.
I started investing in Horizonte about 6 or 7 years ago, for all the bear picture currently painted around Nickel it had been trading at around $10,000 a ton for some time with a suggestion from reliable sources that it could raise to $16,000 by the time the mine was built. LME warehouse levels were over 300 hundred thousand tons but steadily declining.
Horizonte, even with a mountain to climb and 100’s of millions to raise was trading between 1.8 and 3p the equivalent of 36p to 60p with a market value of around 80 to 100 million. During this time Orion mine finance made significant investments with both Glencore and La Mancha joining them afterwards
From then we’ve jumped through countless hoops, completed permitting, secured a shipping dock and a power supply agreement at 30% less than that used in the feasibility study, gone through multiple due diligence processes with both banks and investors and had a number of oversubscribed placing going on to over raise finance by 100 million.
We’ve broke ground, become a nickel miner, started stockpiling, started a major programme of works and took delivery of major components. We are now 60 to 70 percent complete and 1 to 2 years away from ramp up depending if we slow time it or not.
As I’m writing this email Nickel is currently at $19,041 a ton (although I’ll give you its jumped 4% today on the news of Russian sanctions) and the LME Warehouse levels sit at 73,758 a quarter of what they were 6 years ago.
Yet we are told that we are unable to raise any money due to uncertainty over profitability due to insecurity around nickel prices?
https://horizonteminerals.com/uk/en/npv_calculator/
For those who haven’t seen it Horizonte have a NPV calculator, it’s well out of date with the capital costs at the original $443m, even adding an extra $500 at today’s Nickle price horizon profits are huge, around 3 billion in profit over the 28 year life of the mine, a >30% rate of return.
Jeremy Martin called it robust economics and he wasn’t joking. I’ve struggled over the last six months with the declining share price and rereading these bulletin boards, nobody seems