Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Just looking at friday sells and it is over 2mil. Extrapolate this out for a month and it becomes over 60mil. We know that some big players such as Helikon got rid of about 4% min. of their holding so tells me that someone is stacking up seriously. Is this the three cornerstones or is it just traders looking for a fast buck. If it is the cornerstones, then they would now own about 75% of the company.
The shares are cheap so why not do it.
Orion are now cash rich ( $400m for sale in copper mine)
Glencoe now saving $300m on a lossmaking copper mine.
Both LM and Glencore offering $100m each for another mine, but lenders could not agree terms.
Is it not possible that they could fund continuation at HZM. They are heavily invested so why not see the mine built. In 2026, the nickel price will have risen, and global stocks will have started to decrease as unprofitable mines close and China takes up almost all of Indonesian T2 nickel. The western world will begin to look out for free nickel. HZM fits that bill .
I could be just making pie in the sky here, but surely, with the returns possible, then is it not in their best interests, after they have exhausted all other possible avenues, to seriously consider a further big investment here. If they announced it, then the sp would rocket back up to around £1 per share, making their holdings worth a lot of money.
Just my thoughts, usuually way off the mark though.
Lots of sells again, but who on earth is snapping them all up?
Is it possible that the cornerstones are buying more ownership or are the traders stocking up in case of some form of a rescue?
Too late to sell my shares as a few hundred pounds is neither here nor there.
I might as well hang on to them and either watch them go down like the Titanic, or rise like a phoenix from the ashes.
I think I know which way this is going however.
I think there is very little point in myself selling now. I had £20k in this but it is down to pennies now. Might have been a point of selling when the first bad news of underfunding came in. Big lesson. Hopefully I will be able to make some back with other investments over the next couple of years.
And stay away from AIM shares! :D
Hahaha was all yours
Everyone went quiet here
If there is a shrimp of FairPlay, there is recovery for shareholders. Sale of assets will definitely generate value for shareholders. Resource is intact. $500-700m already spent on project.
With such an ego and narcissistic personality like publican I imagine he is livid that most people didn’t get to read his final farewell and opinions before he deactivated his account .
Whoops 😬
In case anyone missed it, ThePublican777 has left the building. He left four long messages this morning mainly directed at Wasa with his usual messages to him. The last thing the publican said was he was emailing the administration to get his account deleted. Hence all his messages deleted as well.
Good luck Wasa. I’m in a similar, albeit slightly smaller, boat…I personally always appreciated your input and analysis. We got it wrong. That’s fine. I’ve made plenty of good decisions elsewhere which means I can live quite happily with the losses made here. I don’t seek or expect sympathy from anyone. My own mistakes led me here. No biggie. Life goes on and I’ll stick to real estate from now on.. 😂 all the best to all genuine LTH’s and the rest of the clowns can take a long walk off a short plank…
Wasarunner, thanks, and interesting story. If ever you feel that you would like to try small scale mining I am looking to expand exploration on my permit called Tekeledougou where Cora gold have worked on the permit for me. Mining for gold is easier than Nickel. You could email me on "mark325i at hotmail dot com" if you wish. All the best.
Just to offer closure because I think it will help (him), what was my loss. 6 but closer to 7 figures. I have free carry on other stocks from 50-60% sold but not doing so well. He'll come and hound me on those boards now but it's ok take responsibility for my own investment decisions. Would I do AIM again - of course not - but I'm guessing that's true of 99% of people who tried and failed. Is it rigged? Probably. It does suit the trader types who can see the ebbs and flows in sentiment, most junior companies fail of course. I guess many, me included, thought HZM was 'different' and ended up wrong. Matters not, sun is shining, off to plant potatoes. GLA and this time really farewell!
Really sorry guys and girls if my stalker is obsessing on the board I do feel sorry for you all, perhaps if I leave (which I am going to by the way because I'm no longer invested so there's not much to do here other than I could possibly berate others for not being smart like me and selling a couple of days ago - which is essentially what he is doing?) But that would imply I have no life so what's the point of staying on here when there's so much else to do in life.
I genuinely tried to learn on the board I took all views, never really understood why people came on here to warn of the perils of investing in the company my assumption was it was always because they might be short or want a lower entry, maybe that's a wrong assumption. The barman is here for something else, something eating him up inside, I can't place my finger on it but even after multiple departures and reincarnations he just can't give it up. I guess it's addictive. I've seen him post on other boards where he was previously invested (and I wasn't) generally telling everyone I told you so.I guess kicks can be had that way, not my style though.
So I bid you farewell, it has been a journey, some might say from 1.7p to £1.70 and back again, it went well for a while, I'm guessing many long termers took a hit whether now or months ago or through the placings. I don't think I was ever impolite or berated anyone, if I did, I apologies, I only offered my views and I didn't claim to know everything. Latterly it was obvious this became a lottery, I still question the motives of the main protagonists but I'll follow that in the news and digest in my own time, it matters not, my investment is no more. GLA and hope people can move on, publicans included....
You need to think about this like an iceberg. The equity is the part that you can see that is above the water, the debt is the underwater part.
You are all thinking that buyers might be circling to try and take a bit of the iceberg and you see the value compared to the equity and are assuming based on that value that can bite off more than the equity.
However what potential buyers are seeing is the whole iceberg including what is under the water - they can indeed bite off a huge amount more than the value of the equity, but they still don't get anywhere near to the surface due to the fact the bulk is below the surface, so your equity gets completely discarded.
Got to agree with you , but doesnt it strike you as odd that all 3 cornerstones ended up here in an unholy mess. Where was the due diligence? One just doesn`t and cannot hide the facts about the shortfall here. Were the 3 amigos off playing golf somewhere whilst costs escalated here. There must have been plenty of meetings with the BoD. Yes, the CEO hid a lot, but to suggest that this build would cost $500m, when other professionals suggested that $ 1b would be required tells me that the 3C`s had too many plates in the air and did not really scrutinise the numbers properly.
The CEO should be hounded out of any management control with any other companies. In fact, he should be taken to court by the lenders and the cornerstones.
As for whether this can be made into a profitable mine now only depends on the price of nickel.
Care and maintenance would be my preferred route until such times as nickel begins to become more valuable again. Probably 2-3 years minimum
Thee might be many people interested in the mine. What they are probably not interested in is paying to bail out existing shareholders when they can more likely get a much better deal after administration and they have much more leverage with the banks to force haircuts on the debt.
It is hard to believe that...
1) 100% owned. This is important.
2) Feasibility studies are completed showing a few $billion deposit.
3) Loans granted
4) 50% to 60% of the processing plant built
5) On time.
... with all this, and at a stage of near completion and there is no one is interested in this project? This is hard to believe,
This mine is comparable to the Glencore mine, sort of similar spec in terms of grade and life of mine.
Seems a bit odd to me.
To ask yourself how the main share holders who all had a member on the board allowed this to happen? The fact they own 52% of the company makes it look deliberate and they planned this all along.
Very oversold currently.................
I do believe that every shareholder should have a right to know what went wrong and not just the cornerstones.
"How on earth CEO didnot know about that trouble long time befoce that and did he do anything to announce so more solutions will be found than it is too late."
I'm not sure where you got this timeline from - the interim results were released on 17th August and then the announcement of a cost overrun was 2nd October so almost 7 weeks. The interim statements also included language highlighting risk factors that there were still substantial unknowns.
Its likely on 17th August they had some idea that some revisions may be needed but no idea on the magnitude - announcing uncertainties at that point was likely premature and no doubt holders would have been furious if that was announced in that way. They were likely working through the details at the time and discussing with financing stakeholders, but it was only the release of the definitive review end September, early October when they had to go back to the market.
There are two elements to investment, the company and yourself. I admit that I’ve got my investment strategy totally wrong in the case of HZM and have learnt my lesson and will try not to make the same mistakes again. I did my own research and thought the company sound and wanted to invest in it. All good nothing wrong with that until 2nd October. The lessons I have learned are in a previous post.
However, I found it hard to believe the company had got it so wrong, even at 35%. I genuinely believed that the company would find a way to reduce costs and find funding. I was obviously so, so wrong! It was the sentiment that the company was portraying at the time of nothing to worry too much about, we’ll sort it out. Or I should really say it was my reading of the story which was heavily clouded by my sentiment.
It’s obvious in hindsight something had gone horribly wrong within the company. We will never know the truth what it was, we can only speculate. How it was handled by the company is open to debate. None of us knows anything.
Some more seasoned investors saw the risks, some like me, have to learn our lessons. I managed to turn a £90k profit in August to a £200k loss when I bailed out on Monday. I’ve kept 20k shares as a reminder to keep in mind the lessons learnt.
Please read my lessons learnt post.
1000%
That is why we need rerquest the regulations of AIM companies must charge and hold any CEOs full responsible for what they did. . Any wrong dong must be full force of punishment as they cant said very good on time and budget but two weeks later othe RNS said they need 35% increases cost .How on earth CEO didnot know about that trouble long time befoce that and did he do anything to announce so more solutions will be found than it is too late. Yes now CEO just go with millions and nothing happen to him . All money lose in here no one have any responsibilities . This is investments not casinos as people come here not play casinos as the way they think it shout but the way it work place on hand of crocks and very bad management from top levels of authority
Feel its pretty harsh kicking a guy that has lost heavily in this shambles.
I have lost six figures and certainly blame my naivety as to how grotty this market is, and ignoring some warning signs.
I am massively struggling with a board that issues an "on time and on budget" RNS to the market, 2 weeks before tanking the share by announcing it is at least 35% under-financed. That is utterly extraordinary to me.
I certainly have learned and will not be looking at AIM stocks again. Retail stand absolutely no chance, unless you are a very savvy trader and know what you're doing.
I invested in what looked like a seriously good prospect with great financials.
Erroneously I looked at the cornerstone investors as a positive, not foxes in the coup. I ignored some warning signs - like JM not buying shares and milking salary, funding commissions etc. I lacked the cynicism to see how this was set up and how bent this market is.
I did not know what I was doing.
La Mancha, Orion and Glencore do know what they are doing. Glencore have said that they make their money nailing juniors to the wall. That is what has happened here - someone has nailed us to the wall.
I will not be making the same mistakes again.
You're one weird guy Pub. You're obsessed with Wasa and he's not even reading your posts. I think it's time you got over it. He's just not that into you.