Member Info for ART123

Not for long!!

So the share price is at an all-time low - I defy anyone to say they are in profit.

For results up till 30th September 2023 these seem to be pretty poor, especially considering that the share price peaked in July and August.

Let's face it - the management really doesn't have a clue what they are doing or what is going on. They are way out of their depth, as they have been since day 1.

The average price of the 147M shares to be issued for the £2.5M subscription and the 80M shares issued for the £400K placing is 1.275p (227M shares to raise £2.9M)

I think that the huge amount of warrants needs explaining. The subscription will see 147M shares issued, the placing 80M, there are 166M existing shares so what exactly warrants a further 880M warrants (at 0.05p).

Sorry 393M for a £4M m/cap

The 246M figure only includes the current shares plus the 80M at 0.05p. The 124M at 1.7p require shareholder approval. Then the total will be 339M shares for a £4M m/cap

Date on which the threshold was crossed or reached

23-Mar-2023

Date on which Issuer notified

16-Nov-2023

Well it is 246 million shares plus the 147 million for the Subscription (that need shareholders approval) so more like 393 million shares which at the current 1p comes out nearer to a £4M m/cap.

The warrants at this stage, and possibly for the foreseeable future, are being issued but not exercised. They should not be included until they are exercised as they do not exist until then.

The m/cap has fallen from circa £350M a few weeks ago to around £20M now. Maybe it should go the whole hog and fall down to £1M or £2M - and then there might be a chance to make some money here.

I can assure you that when that is what the market thinks is going to happen - ie receivership - this share will have a £1M/£2m m/cap and not a £20M m/cap.

Yes, but if that happens it is a month or two away - it's all about today.

Possible 100% upside today!!

It is very unusual for the posters on one of these boards to be even more pessimistic then the management but that is clearly what is happening here. I cannot see any talk of share holders being wiped out or HZM going into administration in any of the last 3 relevant RNS's. In fact the management are clearly confident of getting the required funds.

Okay, my research is telling me that HZM still own 100% of this asset. This is probably their mistake then. Do Greatland Gold own 100% of their gold asset in Australia? No, they own just 25%. Maybe it is time to farm-out 25%, 50% or even 75% of the ownership to one of the majors who will then provide the extra funds needed to complete the development and HZM will continue with a percentage of a very profitable mine for the next 29 years.

I repeat 29,000 tons of nickel at $17,500/ton give revenue in excess of $500M per annum.

Being new here can someone tell me how much of the asset is owned by HZM? Cheers in advance.

Does it matter whether the work is ongoing for the short period of time while they sort out the extra funding requirement. Besides today's RNS said "the Company intends to reduce construction activities at Araguaia, advancing only critical work streams while maintaining a strong focus on safety".

I appreciate that the LTH's here are feeling more than a little p*ssed off but that is one of the dangers of holding shares during the mine building phase. The 'Life cycle of the Junior Miners' explains the phases from exploration to production and it is often advised to leave the risk during the construction phase to the Institutions.

Nickel is hugely in demand and was as high as $30,000/ton earlier this year.

News due in mid-Q4 2023 - which is about now by my calculation:

· As stated on 2 October 2023, Reta Engenharia has been retained to complete a detailed capital cost and schedule analysis which is expected to be completed by mid Q4-2023

· Araguaia Nickel Project Line 2 Feasibility Study ("FS"), which aims to double nickel production from 14,500 tonnes per annum to 29,000 tonnes per annum, to be published in mid Q4-2023

29,000 tons per annum at the current $17,500/ton is over $500M annual revenue. Anyone who doesn't think this will get into production is an idiot.