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Agree Slurms but what it does imply is that the next 50% will most likely not be on budget given inflation has gone through the roof. Let’s not forget most of those long lead items were agreed a few months back before things started getting out of hand. I expect they’ll need more cash at some point if things continue as they are. These huge complex projects almost always come with delays too so add another 6 months to a year to the planned build time and you can why investors think they have time to come back.
Having read the RNS in full now (yes I should have done that this morning). There is no doubt in my mind now that the 50% referred to as being on budget is the money that has been spent. There is *not* a remainder 50% that is over budget
”As at the end of April 2022, the Company had awarded contracts totalling US$204 million with a further U$66 million of contracts to be awarded imminently, on budget. In total this represents approximately 50% of our pre-contingency project direct capex.”
As Jezza went on to say this is "a very positive result."
No hurt taken but a chess player understand this. If we were playing against each other in 2019. Maybe. Now its Orion v La Mancha v Glemcore v Anglo. We are less than pawns (which doesn't exist in chess) and await the outcome.
No reason to fall out Wasa.
SP is depressing. But is what it is....
I know very well your value add, & respect that. You bring 100x what I can to this share....
But I am Chess player, and a pretty good one tba. So appreciate, process and logic decrypting & anslysis..
Therefore I don't like the "oh no funds".... Then suddenly "oh.. Bought a Million"...... That's naughty, and doesn't hold anyone in a good light.....
Better to not post the big buys, and trade as you see fit IMO.
But whatever. Conduct as you see fit.
I still value your technical opinion.
Big influencer here now is Glencore. I never intend to influence anyone. And unti the deal (which, I said at the time, I was disappointed with) I didnt sell a share. I still consider the share a solid hold. Actually people have had relative price stability if we consider 6-8p stable so what I say and do doesnt matter. Try holding 15m shares you bought at 4p when it goes to 1.7p. Not easy. There were dark days we huddled around the campfire then and hoped JM would work miracles. He did, kind of. I hope minimum 20p-30p here, maximum 30p-50p in sale. I hold the amount I want to see those numbers in a timeframe I think they will happen, thats all. I think a lot of impatient sold after the deal anyeay if they wanted out because many were predicting a high sp at end of last year. I hoped for 10p on financing and we didn't gen get that. Did I influence them to sell? Doubt it. Hope not.
I first invested in 2019, and yes you had/have great knowledge Wasa.
But with that comes great power, and your talk up sell down ... On occasions is a bit rum....
If you choose to declare a Mill buy her, a Mill buy here... At least be honest enough to say.... I sold Mill here to buy there...
You are a big influencer here .... So keep it straight...
Is it a long hold? Not if horizonte pass some key milestone glen have set on their reminders and make a bid? Only thing we know for sure is this gets sold, building further lines, Vermelho etc is a pipedream so the only question you have to answer is when, for how much. Unless someone knows somebody at Glencore and also somebody at Anglo etc who make another bid we don't know the answer. My guesd is late 23 or somrtime in 24. Is that long? For a trader yes. For an investor not at all.
I held the share since 2018 (long before you invested) I held the share through city financial selling and at one point I was £300k underwater. I still hold 8 figures (in shares). I have never deliberately or intentionally misled anyone. I consider horizonte a good investment and will hold to production or sale.
You came along, asked if it was a good investment, bought some, didn't like the deal (neither did I) and you call me a pumper. Class mate. Each to their own investments. Anyone thinks any of us can influence what Glencore, Orion and La Mancha want to happen here with £250m mcap+ company needs head examined. I don't gain anything from posting so I will post less. If I scroll back a year or two I probably tried to answer genuine questions you had with genuine knowledge I gaimed by speakimg to ditectors of the actual business. Whether you buy or sell is your business. I wish you success with tour investments. All imho.
A long hold now, we all agree...
But beware those that say one thing .. and do another.... Hard lesson. But we'll learned for those that listen.
Nth. Totally agree. This is just one to hold. Orion and La Mancha are looking at solid mid-term returns.
I am sure the budgeting was prudent, with contingencies. Also, the cost overrun facility is now generous with capex 50% allocated.
Maybe new potential investors should read through the RNS trail before disseminating FUD.
Good grief, some desperation on here. We have some serious players holding good chunks of the company, yet a few sells and some try and convince you the company is in some kind of trouble. Maybe they should attend the AGM next week and ask the CEO directly.
Anyways, good luck all holders.
Poor market. A few years from production, and a few very trusted LTH selling a few in vilune ... See earlier posts Sherlock...
Story of the day...... Bottom draw and open later .....
Will out, but not to the pumpers tune now quite clearly...
It looks like the Clowns have come out to play today…..
I have had an in-depth look through 20 + boards of stocks ranging from techs to agri to retail and not one poster was happy with the markets view of their Company value. Without exception all said their Company was undervalued.
The negativity is hilarious! "What about the other 50%" glass half empty seems to be fitting!!