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Other finance solutions…..maybe? CAPS below provide positives and the only thing that is strange, why they hosted site visits in the past week??
The Company has hosted a series of site visits during the last 7 days with key shareholders and lenders representatives. These groups are undertaking their respective due diligence as part of a funding plan and expect to finalise their respective internal diligence processes in early Q1 2024 with funding completion targeted for late Q1 2024. It REMAINS the Company's objective to put in place a financing solution which will SATISFY the cost to complete requirements and thereby allow the Company to continue to access its Senior Debt Facility.
CEO Jeremy Martin said, "Discussions with the Company's major shareholders and lenders on funding the Project to completion are PROGRESSING. While work on the FUNDING SOLUTION continues, we have elected to focus capital and human resources on the critical work packages. This work is planned is to ensure that we are well-positioned to RESUME full construction activities post RECEIPT of the funding to benefit stakeholders and our community alike. Notwithstanding the expected increase in capital, the Araguaia project remains a Tier 1 nickel project that will produce a high grade, low cost, low impurity FeNi product over a 28-year mine life."
"Plenty of positives"
Can please state was positive today? The wider market disagrees with 50% drop Billy Boy.
How much you in the red for Billy? Be honest now, this went from 140p to 9p. No shame, all the Snake And Retters fault.
CleverThoughts… we know what the market is don’t we…the market seeks to generate panic selling but the wise investor will determine risk vs reward. Big stakes for sure but this will still be lucrative…. we shall see… hopefully will tick up as nerves settle… but it’s another 2 months before outcomes will be determined…
In 100% agreement It will be very very lucrative for Glencore. PIs have been gang raped 4 times now by the Snake, Retter and BoD and soon Glencore will come for the finale. The countdown has started....
How can a company get its project costs so so wrong with the involvement of Glencore and Teck.
I thank my lucky stars I sold 95% of my holding circa 140p.
Something is not right here-who did the original costings,why were they so wrong and why is the CEO who oversaw this disaster still in post and if the project is so appealing why no new finance ?
Either Teck or Glencore will snap this up for a ÂŁ1 and make large profits down the road
Billy, don’t be a hero
There is lot for the Cornerstone and other key investors. On top of this, there is all the money in Royalties, Convertible Notes, Money ploughed into DFS on Line 2 and DFS on Vermelho.
There is lot to save and PI are aligned to what Cornerstone have to loose.
Even if they are big companies, no one want to lose money, not 10 of millions.
Shareholder Number of shares % of issued capital
La Mancha 62,297,182 23.09
Glencore 47,871,805 17.74
Orion Resource Partners 28,292,291 10.49
Helikon Investments 23,771,706 8.81%*
Hargreaves Lansdowne, stockbrokers (EO) 12,917,689 4.79%
Interactive Investor (EO) 11,409,461 4.23%
Condire Investors 8,891,404 3.30%
azValor Asset Management 8,638,552 3.20%
*4.5% of Helikon Investments shares are held through financial instruments as noted in TR-1 dated 12-10-2023
In terms of AIM Rules published in May 2010 and insofar as it is aware, at 31 October 2023, approximately 52% of the Company’s AIM securities were not in public hands.
People such as Interactive Investor and Hargreaves Landsdown are not large investors.
Their holdings are the pooling of the total number of shares they administer on behalf of private investors
There is one good thing about today. All those giving negative thoughts on here will go away tonight in the knowledge that they are such great traders and wont need to come back tomorrow and will leave this board to tumble weed. Who really thinks that will happen? I wonder why not?
Tomorrow the recovery starts…this news isn’t news, it was an update but I must confess there should have been more progress. Good things to still come people, back to 20s as DD progresses….. there’s always optimism when they remain in business…and they’re that for sure. The words were when funding is received not if we get it! Enjoy the ride and don’t stress….it’s a long game…🛌 and back for more tomorrow…BRV
How much fund they need for the project anyone please ?
More Drama-phew !
Well we can’t complain about them continuing people on payroll unnecessarily now can we
Drama to one side and that means all of it,sounds to me that a deal is in the process of getting done here.
The banks and cornerstones do not own Horizonte as a company and we still have another large asset that can be sold once BFS is completed.
Even if you remove Araguaia from the equation then that is still the case.
I’m not going anywhere
Not entirely unexpected I suppose this but drags it all out more-let’s see if the end result is worth the extra wait on the finance.
With the delay….it was probably £80m so now I would say…..more like £120m…. Just for A1…. But could be as high as £150m..
Thanks