Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Mark Selby aka Professor Nickel - CEO of Canada Nickel said a few years back that he thought the numbers for him to construct or way off based on your projects of similar size and spec.
Always listen your Professor.
Back to the thread title.
It seems all types of negotiations go down to the wire. This being no different. All we know about the negotiations is that the company needs to secure a lot of money. Other than that we don’t have any clue about how or what is being negotiated or with whom. We don’t know how much all of the parties are willing to get a deal done, that all would be happy with, or are they just looking out for themselves.
We may get an insight this week as I expect an RNS to be issued about interest deferment / wavers. If granted there is still some hope as a deal is being struck. The RNS after that would be about interim funding. Again if available then hope is alive. If the company is still alive then the BIGGEST RNS, the full financial package. That’s when we find out the we have all been thrown out of the plane without a parachute.
You have to admit that JM and SR are extremely brilliant financiers in that they have managed to deceive five banks, two export credit agencies and three cornerstones not to mention institutional and retail investors, you and I out of a vast amount of money. They magnificently pulled the wool over all our eyes. Or do you like me think they were just out of their depth and were blind to what was happening in front of them. We will never know the true story as the embarrassment would be too hard for all the parties. I know that I was blinded and am know embarrassed that I’m still holding.
You can’t claim the be “…… one of the Lowest Cost Quartile Produces……” when you don’t produce anything.
TDT
Lawrence, bless your good soul but even if the current HZM BoD means well they're just going to regurgitate the numbers from the BFS of when The Snake and Retter were conning everyone and tell us it's all going to work out great!
I'll personally go with the strong trend and precedent HZM, the BoD, The Snake, and Retter have set - everything they've said is a lie, and they've shafted shareholders over and over again, every time worst than the last.
This stock has a putrid stench of deceit, lies, fraud, embezzlement, and every other damn thing you can think of.
I still cannot believe I got out so lucky, I sold my last tranche on this at exactly £1. I remember it vividly, the Rns landed, I read it over a few times thinking it can't be? The Snake isn't that much of a Snake, he told us a few weeks ago "on time, on budget" and no suddenly no cash? I sold on the bell but the SP stayed stable strangly. I was thinking to myself, did I misread the Rns - why isn't it sinking to oblivion? BOOM 10 mins later, the descent to the marina trench commenced and finished 60% down for the day.
Look at it now, 98.5% down from when I sold, its tempting to buy back in if I wasn't aware of the HZM history of screwing investors over, and over, and over again.
Love not war....
Simon Retter by the way is a non exec director for Elixirr. ELIX on the LSE board.
Rewarding failure
Found him lol
I am in that same boat as well contr.
If there is any decent news to come out of this mess, then Glencore will be pulling the strings. 20p? I will gladly swim ashore.
70p I hear from deluded people here? there's at least one person here that has averaged down to 22.5 they'll be out at 20.
Many more are on the same boat. They will all be rushing for the exit at the slightest hint of a bounce
Jeremy Martin Cleverthoughts works as a non exec Chairman, alongside another couple of well known failures on the BoD for Zinnwald Lithium. They are listed, have a twitter account and an LSE board. Feel free to engage
Clever, I can confirm I have emailed & asked “as we are one of the Lowest Cost Quartile Produces and at the beginning of the project it was US$6,800/t it then increased I believe to US$8,200/t, an update would be greatly appreciated.”
I will let you know if I get an answer ……
"That’s turnover, what’s the free cash flow? I doubt you can rely on Horizonte’s AISC figure given how badly wrong they got the CAPEX."
Comment of the day, I'll bet my right eyeball, thumb on my left hand, and Lawrence that all the figures are off for HZM when Jeremy Martin aka The Snake and Retter were at the helm.
Does anyone know what caribbean island The Snake and Retter are sipping pina coladas on?
Agree on this one. You cannot sort it in next week.
But I really hope that there won’t be no more enigmatic RNS next week which states no progress from the last RNS.
Enough with the soap opera, the BoD, the whole endeavour, in my view is under pressure next week to publish another RNS stating the affairs around deferred payments and whether further extensions are granted, and the issue of interim finance.
The reason why I think they are forced to give an RNS is because the current deferrals are carried only through to March end, and you cannot go into April without a clear statement.
So whilst I agree there is no particular reason for actually expecting the finance package be sorted next week, yet one can sensibly expect an RNS with something more solid this time:
Deferred payments.
Interim finance.
March was wasted with complete absence of any word on this.
Why in a week?
Its not sorted until the £600mln finance package is announced and no one expects that next week.
Most new large scale mining operations cost in excess of $1b and are profitable.
HZM has a massive life span and payback in later years will be huge.
Add line 2 and the Vermelho project and this will be a world beater.
This is just the type of operation that Glencore would be interested in.
It would surprise me if they are not controlling HZM destiny in current discussions.
We wait to find out, probably within a week what the future of this project will be.
“Total, about $1b. LOM 28-40 years producing 27000 tons of NI at $18k per ton gives a turnover of about $500m per annum.”
That’s turnover, what’s the free cash flow? I doubt you can rely on Horizonte’s AISC figure given how badly wrong they got the CAPEX.
TDT
Administration is the worst of all options for both lenders and cornerstones.
Glencore have been known to "miss the meaning of non action" Just look at the litigation in Australia and Brazil because they were not on the ball.
Couple that to the withdrawal from that massive loss making mine that they were ploughing $300m a year into.
So who is in a position to benefit here? Must be Glencore. If they mow have $300m that can be invested annually "savings from there pull out of that mining venture", they firstly will not want administration, noe will either the lenders or cornerstones.
They are big enough to offer a cheap share price. Even at 10p, it will only cost them £20m..
Pay back the 2x$5m to Orion and la mancha and the cost is £35m. How will O and LM react to an offer like that? who knows, but if they then own the company, then they can work with the lenders to get the release of the remaining funds by committing $200m for 2 years to get HZM into production. Total, about $1b. LOM 28-40 years producing 27000 tons of NI at $18k per ton gives a turnover of about $500m per annum.
This makes the $1b pale into insignificance. Then add on line 2 and the other HZM site and this is a steal.
I used the figure of 10p as an example. It could be 1p or 50p?
At what price O and LM will be satisfied is anybodys guess but Glencore hold all the aces.
This is just my thought so I am open to ridicule here. Pull me to bits if you want. At this late stage of the day, we are in the lap of the gods. Alternative solutions welcome here.
krss
as expected, no working, just made up total ****e. this board has seen a lot of that from the bulls and rampers over the last 6 months. but do take the opportunity to prove me wrong. i think everyone knows you cannot show any working to back up the 70 and 300p claim. even the deluded souls know this, thats how much ****e is flowing freely from your mouth.
And if you read the last 20 million funding rns. This last one is what has been expected. So all in all. The company has the information now to finish drawing up a solid funding solution. The last rns was actually. The final puzzle pieces. Needed. Gla
Costs are being propped up to keep bidders abreast or at arms length, agreed bid 70p , more than one bidder 300p.
KRSS
Would be great to see your working for 70p and 300p. In fact I'm sure it would be hilarious.
Resource is intact, almost $500 million spent. Three scenarios 1) Administration 2) 70p t/o 3) 300p take over.
If HM in London will get into protective measures
Can you please explain this for me ?
PInv
By Monday we will know if the waivers are extended or not till end of April, if HM in London will get into protective measures.
I don’t know how this share will end but what I do know (not for certain of course, nothing is for certain) is that this SP will bounce up and down whilst the future of this company is getting mapped out. And just like me there are loads here for the bounce.
Good luck all new and old.
My only regret is not investing in Glencore when it was at 380p and Anglo American when it was around 1700p, I do have exposure though my BRWM fund but I am looking at those 2 as the ones that win out of the miners malaise