Member Info for 99icecream

FWIW - It seems the requirement for AGMs differ by country. Not sure what the BVI requirement is (Zanaga is BVI registered).

Shaun86 where is that from?

The key point is don't get excited about the lateness of the AGM notice, it will probably turn up soon (maybe even this week).

AIM has rules about publication of the Accounts. I can't find any requirements for AGMs.

The Companies Mem and Arts has its requirements for AGMs (which were as stated previously).

Annual results have to be within 6 months of year end.

But I don't think the release of the Annual results is linked to the AGM, which is all about re-election of Directors, pre-emption rights, appointment of Auditors etc.

For Zanaga:

AGMs require 21 days notice.

An AGM must be held less than 15 months from the last (i.e. before 24 February 2024).

We should get notice soon.

2022: Notice of AGM 4th November - AGM 24th November

2021: Notice of AGM 25th November - AGM 20th December

2020: Notice of AGM 5th October - AGM 30th October

What I'm suggesting is that any significant spending that occurs outside of budget should not occur. The project should never be in any danger of running out of money. Obviously, that does not mean that it has not occured, but that is what the due dilligence is all about. Has all the spending been under control?

Mumbles : In your experience, should Araguaia be comminting to spending anything outside of what is budgeted and funded ?

I always thought it interesting that the HZM update came out on Monday 2 October 2023 and the collapse of Glencore SPAC deal came out the previous Thursday (28 September 2023).

Strow - The Glencore / La Mancha / VW / Stellantis deal was for a mine that produced Nickel for EV Batteries - like Vermelho.

That is why I think Horizonte may end up getting funded by selling off Vermelho.

FWIW I have used the filter prior to your post.

IMHO there are two things this site needs. One is a "Thumbs Down" button so that we can indicate where somones is posting rubbish. And the second is a counter that reveals to all how many have a particular poster filtered.

Its academic I know but in June this year:-

Finn Capital had: NPV (12.5% carried) = 525p, NPV (20% carried) = 755p, NPV (25% carried) > 900p

(implies that each 1% carry extra above 12.5% is worth 30.7p)

Zeus had: Risked NPV = 702p, Unrisked NPV = 952p

WH Ireland NPV = 684p

I would be surprised if any of the remaining warrants are not exercised.

Even warrant holders that no longer like Rockhopper can buy the shares (via warrant) for 9p and sell the RKH shares for 11.5p.

Hi Rogue_rader - You recommend taking advise from an investment professional. They should point out the following:-

The Warrants are technically American Call Options. Option pricing theory shows that it is optimal to exercise American Call Options at/near expiry.

A search on the web for "optimal exercise of American Call Options" will confirm.

From todays blog:-

"The GBA project is of such scale that once it is fully underway my Target Price for JOG of £10 per share could easily be an underestimate"

I suspect its WWWWWW until the farm out ?

I'd be interested to know how you get 50 million. "The new delay costs 50 million alone"

I get about $ 2.1 million of interest per month (approx).

Araguaia is collateral for the bank debt, so you cannot "farm it out" or sell a royalty on the cashflow etc.

You might sell Vermelho.

$ 17,000 last time I looked !