Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Agreed Kriss.
They will company for $1.
They will offer to pay for plant and equipment already delivered and installed.
My guess will be $200m. Banks will get something back. Shareholders will not get a penny.
I wonder what value is put on Vermilho site.
It doesn't matter, they are not paying any amount that would see shareholders get anything.
Can Glencore make offer while the Company is in administration and how it will work?
Glencore has been pumping $400m per annum into a New Caledonian nickel mine for 10 years. It owns 49% of the Company and the operation is now on a care and maintainance basis until they can find a buyer for their share. The funding will run out in July, after which time Glencore will have some options available to them for using the freed up money.
Could they make an offer in a few weeks time for HZM? It is a big possibility in my book as the Brazilian mine is class 1 nickel.Much more lucrative as it is higher grade and lately, the nickel prices have been rising, I await with bated breath to see if they make a move in July.
CEO appointed by La Mancha propped up the figures massively, Why? CTC is not shareholder’s issue, best scenario is sell the assets promptly and distribute proceeds fairly
They touted a figure of $600m to complete, but I wonder if some clever accounting here included the $350m alreasy spent, leaving a shortfall of $250m but suggesting a further $600m required. Just a thought. Only time will tell when the mine is eventually sold off.
NICKEL Price
20,524.09+570.09+2.86%
And they were worried about the short term Nickel price !!!
Yet they are supposed to be Longterm Investors and projections for future Nickel prices are US$25,000 to US$30,000 per tonne, go figure
@marandmel I 100% agree with everything you have said and unfortunately the reason I never sold was the suggestion of $250M needed for completion which I personally didn’t believe unreasonable given the economic situation with inflation etc
This is a bargain now but as you say it doesn’t add up!
For the life of me, I still cannot understand how a mining complex, 65% completed at a cost of $350m should require a further $600m to complete the final 35% build.
The first reports coming out of HZM and that video recording suggested a further $250m was needed. About right in my book. Certainly overbudget by about $150m, but not beyond the pockets of the big cornerstones. How could this escalate to over $600m?
Someone pulled a fast one here, and it would not surprise me to find that a cornerstone or other will come in at a ridiculously low price and get a Company that will earn them billions of dollars in the next 28+ years.
What a bargain. Wow!!!!!
Last time, Nickel spot went through roof to 95k per tonne , suggesting a subsequent rise will have ceiling of 45k per tonne. Whoever is committing daylight robbery knows the above facts very well
I Web have told me shares to be demister from the AIM so £5k down the swanny, glad I didn't have more money available last year....
Please note that the Company was placed into Administration on 16 May 2024 and Chad Griffin and Geoff Rowley of FRP Advisory were appointed as Joint Administrators.
The Joint Administrators will be winding-down the Company’s operations following which it will cease trading.
Should you have any queries regarding the administration, you can contact the Joint Administrators on hzmplc@frpadvisory.com.
The Joint Administrators act as agents of the Company and without personal liability.
The Company entered Administration on 16 May 2024. The affairs, business and property of the Company are being managed by the appointed Joint Administrators Chad Griffin and Geoffrey Paul Rowley.
Solg reacting on inflation unexpected drop, inflation figures are very crucial to projects inclined to production. Same applies in HZM, actually nickel is very favourable because of EVs. Even on fire sale, Araguia and Vermehllo can go above 1 billion dollar.
It certainly did seem positive u til very recently @rover . Fortunately I had not started buying around the 10p mark so my losses won’t be a great as some unfortunately.
Let’s hope for that miracle as clean nickel does seem to be in demand at the moment .
The answer is yes it can come out of administration, as I would guess there will be some entity willing to take the project over.
However, that will not lead to any value for shareholders. The price the administrator will get will at best only cover the creditors costs.
However, miracles may happen and nickel becomes favourable again to a point where the big miners want the commodity and start a bidding war for the company. Highly unlikely.
So in short this is a total loss for shareholders. I don’t like saying that as I’ve lost a lot here.
Could this come out of administration should a deal be done ?
Could shareholders see any of there investment back ?
Or is this a total loss ?
It cannot be clearer 😩😩
Please note that the Company was placed into Administration on 16 May 2024 and Chad Griffin and Geoff Rowley of FRP Advisory were appointed as Joint Administrators.
The Joint Administrators will be winding-down the Company’s operations following which it will cease trading.
Should you have any queries regarding the administration, you can contact the Joint Administrators on hzmplc@frpadvisory.com.
The Joint Administrators act as agents of the Company and without personal liability.
The Company entered Administration on 16 May 2024. The affairs, business and property of the Company are being managed by the appointed Joint Administrators Chad Griffin and Geoffrey Paul Rowley.
Maybe it is sell off from LM, Orion and the last 4% that Helikon still hold.
Could be that Glencore might be the last big holder., maybe buying up cheap shares.
They are currently $300 m a year better off now that the New Caledonian deal is ended in June/July.
$300m per year for 2 years to complete HZM, lenders to be placated for 2 years, over 51% ownership, some royalties to be paid to other cornerstones, and a massive share dilution to give G a 90+ % holding, thus encorporating HZM into the G empire. As for remaining shareholders, a offer to buy up the last of the shares.Even at 10p per share, it is only £12m to G.
Added to this of course is a new nickel operating mine with bags of upside potential that has fallen into the lap of G.
It is ok everybody, it is just me having a lateral thought. It is raining outside and I was twiddling my thumbs, wondering what to do, haha.
But you never know????
Has anyone worked out the fire sale price on this? What we would need to cover the bank loans, the ECA, creditors and money supplied directly by Orion which I assume is secured ?
The last update as to cash balance was $24.8 million on 27th Feb
Is this the amount we would need before the shareholders got any money?
With $479 million spent so far it would be interesting to now what we would need to get back from that investment just to get nothing.
Only fair play, sell the assets and pay according to law of the land
60m, 20m and 8m volume appeared after suspension
Current Nickel price would have given an extra $120m per annum of "free" profit.
An extra $600m of build would have meant a 5 year payback at most.
For a 28 yr. LoM that is an additional $2.6b gross profit, $4b if it was 40 years.
Surely someone will be eying up HZM as a lucrative investment now. Cheap as chips
Now where did I put my wallet, Orion/Glencore?
As they say ‘Timing is everything’, Horizonte unfortunately has missed the boat. Can the administrators get the boat to come back to the port to load up?
LME Nickel
US$21615.00