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No one is buying/selling apart from day traders. Those that have invested are 90% down and dont want to gamble anymore. An RNS can come at anytime which could make a or break. Yes the stock market is a gamble at times but apart from the traders no one else is willing to take such a high risk at this time. I thought this would be obvious at this point.
It sounds bad and reads bad, but in all reality i dont think its that bad. Most mines these days need about 1bn to get to production. The problem as has been said was the feasibility study which was obviously done by someone not knowing what they were doing or just fudged it to get initial funding.
Its a shame about another 18months but we can only hope after this “bad” news the funding comes through in a positive light and it all flows smoothly from there.
Another reminder! 6 Weeks remaining of Q1. Im getting excited!
Im also expecting an RNS in the next week or so. I expect the Company to update their workers to get them back onsite for start of Q2 and therefore update the market that work is commencing with finance completed.
I would take this report with an element of scepticism. There is always some environmental impact when building a mine and always locals that oppose it.
The dusty road is always going to occur in the region when its dry but some of that report is definitely exaggerated and some overly so. Check out the video on there! 🤣
From whats on here around the stoppage I still believe there was very much more truth in the last video post here (youtube) with the guy talking about stopping for the season and returning in March/April.
We know this mine will be built, we know each stakeholder have taken steps to secure their investment and we know they are working on the financial terms to secure the additional funds required, which I strongly believe will be a successful outcome
Posted Approx 5 hours ago on Linkedin:
Horizonte Minerals' Araguaia Project is being built with the metal structures provided by FAM Construções Metálicas Pesadas.
In all, 7,800 tons of metal structures will be delivered, maintaining the high standards of quality and experience that have always been the hallmark of our company. One of the built areas is the Furnace Building, which is an admirable 70 meters high.
https://www.linkedin.com/posts/fam-constru%C3%A7%C3%B5es-met%C3%A1licas-pesadas_construaexaelesmetaerlicas-estruturasmetaerlicas-activity-7148633464597114880-gZfN?utm_source=share&utm_medium=member_desktop