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Unless people have itchy feet, what is the problem? Hardly a company out there that can deliver anything on the exact dates. Throw in COVID and you have to be having a laugh if you think timings will remain the same. There is also goos reasons to delay. Wait for Nickel price recovery on Chinese Stainless demand, countries throwing money at green economies, EV narrative picking up increasing desire for involvement in Vermehlo, getting rid of the seller to get a better starting price for news. I do not want the finance deal to drop early! I'd love to see the EV narrative take off, EV metals to get a rising price, Elon's 'delayed' battery annoucement (we know will contain Nickel as he has already said he needs more Nickel) might drive people into getting their hands on limited future supply etc. I would prefer to see a deal on Vermehlo that meant little to no dilution for getting phase 1 going. Capitalise on the growing desire for EV Nickel to monitise Vermehlo early to help the rest of the project. Everyone seems eager to rush a finance deal when the macro conditions are not ideal but have room to improve. There are more reasons to see it delayed than rushed as far as I am concerned. The Nickel has been proven the plans are ready that 'cannot' be taken away from us. Will people trade out to make a quick buck somewhere else...maybe, good luck to them, they weren't really investors anyway. Something could drop anytime. I also don't think it is a good idea to waste value enhancing news when a seller will absorb the liquidity from it and give them a better price. Better to work them out and then when gone ramp up the news flow.
Owlo, I was not trying to suggest any blame or responsibility around a possible delay in announcing a financing deal. I was merely suggesting that I have taken a cautious position and currently do not expect any announcement in Q3 that a comprehensive financial package has been concluded. There are lots of reasons why I could be wrong.
JDF7,although HZM will have to sign off on any financial package,it wont be them who will be getting the financial package together/organised this will be driven by endeavour financial ,so Hzm will have no part in any delay unless HZM are unhappy with what endeavour financial come up with.
djryan, I think both the CEO and Chairman have softly hinted at the possibility of delays to the finance deal ( from the wider impacts of Covid on doing business). And given HZM has some past form of its envisaged timings not being met in practice, I'm starting from the assumption we will not see a coherent, concluded financing package unveiled until deep into Q4 at the earliest.
Think we have to imagine this been a lot higher if the seller had not popped up to put the break on things.
8-12 weeks is the stated time Frame although I feel JM said possible early Q4 as a buffer
In all honesty I’d like to see something by September, it maybe just the mine plan update , savings ? Or like you said just an update. I can’t believe for one minute nothing has been going on for a whole year !!
Yes HZM is light on newsflow but I think that is a good thing , we are all more mature patient investors on the whole here. It’s not a traders share although I think everyone dabbles with extra money when they see an opportunity.
The majority of money here has been patient long money with big institutional support along the way.
JM did state we will see newsflow before completion of finance , maybe the strategy has changed to the strong inbound on vermelho.
Either way excitement will surely build the SP up over the next few months , people have a habit of waiting for a flying SP or till the last possible minute.
Like a few of us are speculating, it might not be all that important the SP as deals are been done on a fair value at a premium to the SP
Still not ruling out a few surprises here to propel the SP naturally to where they want it !
Hugely optimistic, nickel price on the up , nickel projects in demand , future looks bright for nickel. Also the Brazilian currency has made this project look even more appealing.,
Won’t be long before were in September and I think that’s the point we will see newsflow
Fair points, just feeling a bit jaded I suppose. I liked to think some real news flow would be gearing up soon leading up to the end of Q3 (8 weeks off).
Incidentally we have a mining Director and yet nothing news wise on that side of the business ie program/in house team. Hopefully he’s off securing/looking into cheap equipment in light of the exchange rate.
Katie Millar on the Sustainability side, hopefully more on the ESG and carbon footprint credentials to come. How we might compare on the Elon equation.
Any way let’s hope we are soon shot of the seller and really can see news flow happen ideally before US elections start to drag on markets
Noftriver......completely get your frustration but it’s not even the middle of Q3 yet so let’s not judge yet , I don’t agree covid didn’t hold up paperwork between parties as a lot of people simply were not working. All different now however. Completely agree lots of things can be done over zoom but not everything.
I was buying a building and it took 6months to sort with no mortgage. We have to appreciate big deals take a lot of paperwork/time/effort.
Like you however I’d expect to see newsflow soon but the silence isn’t necessarily bad , it could mean a bigger deal In the offing.
Hope you’re wrong on the dates Q3/Q4. As JM has already pushed dates back at least twice. If he can’t get things sorted with Nickel bubbling at $14K, Elon pushing miners to get on with it, EV demand increasing faster than predictions, Stimulus packages in China and US, well we have a problem. He would really need to explain what’s going on. Companies are listing on markets M&A is happening via Zoom, others are raising capital, so it’s not Covid stalling things.
Not saying a few months is in its self is an issue, just would really expect some clarity. The last dates were self imposed and so we should expect a reasonable explanation not just “a few bits need tidying up”. Especially with the pre announcement news flow to build the SP up is still needed to avoid a large dilution (and would be frankly a failure on the boards part with the assets we hold If they haven’t got this going). The only appeasement would be if it’s because the deal is done at a premium to the SP, similar to the Orion announcement.
Bit fed up of opportunities to top up at bargain prices and would mind seeing a bit of valuation parity.
Looks like nickels going to move up to 16,000 area , weaker dollar and world stimulus.
Nickel always picks up in demand in the 2nd half of the year.
All helping negotiations I expect. When will we see significant news. End of Q3 beginning of Q4 but I’m hoping JM gave himself wiggle room and the start of newsflow should be around the corner.
Nearly a year since orion chucked 25 million our way. They no doubt want to start collecting that royalty as soon as possible.
We know they will play a part in the financing , but what ? JM could be holding more cards than we think. When you have an asset valued at zilch in vermelho you can use it as leverage.
OWLO has done some good calculations pointing to our enhanced economics. We have the infrastructure in place.
Projects never looked as good in my opinion hence why all the banks have thrown their hats in.
Equity portion paperwork takes time but I bet they have been thrashing out for 6 months now and it’s a case of patience required.
I like Mark Selby and his info but he is pushing his company and I mean this with no disrespect to him but I feel his company journey is way off and a lot of hot air , much prefer JM’s approach of surprising the market with Orion and the strength of the deal , the assets he’s picked up on the cheap when nickel was on its arse.
We have solid high grade assets here with great Returns and high mine life.
Worst case I’ll bottom draw these until we get full value , personally don’t want JM to take any deal.
M&A activity in the nickel space is really picking up and as Orion say they invest for the cycle.
Musk comments and the clarity that nickel is going to be needed in great quantity supports an upward trajectory, the LME and traders are happy to kick the price higher knowing they need a well supplied market going forward. Covid is a short term bump that leads to more demand medium term as governments stimulate economies with infrastructure projects.
This is one of those shares where you can’t be out. You know if you get bored and sell you wake up a day later to a 100-200% rise
Certainly cannot take that chance. Got a feeling red dot or not today will see HZM rise back up to the 4P area at least.