Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
I expect a further RNS on acquisition news! Profits solid and margins improving so overall looking forward to 2024 and beyond. Recent business acquisitions will also positively impact revenues as businesses are integrated.
The company is well positioned to grow revenues and expand across all territories…. prudent cost control has been implemented and the loss was a technical fair value write down so much promise here. New offices being opened in Malaysia and q1 2024 in the uk which will grow AI offerings considerably….read the full RNS to get under the bonnet…really positive and the building blocks and investment has been made now for the big revenues….and good shareholder returns…
Blue….totally agree. All the talk of dilution, the reality is the asset is rich it will just mean more interest and fees ultimately but will be the catalyst for a2 and Vermelho which will absolutely generate combined IRR of £6-7bn net profit over the life…sounds too much to give up for a mere £200m……
Enough said….shorter’s don’t get burnt because it’s a matter of time before the Red button turns deep BLUE…
I’m deeply frustrated by the SP right now although I remain fully committed to this rallying upwards beyond 80p….
When the bull runs, momentum will take these much higher and trading contracts will be the cement between the bricks making these highly attractive. I believe we will see multiple RNS supporting global expansion and INCREASED global sales penetration. This is an innovative IT gem and when it goes we will see serious market value again….. DYOR
All these pathetic sells… watch and learn!!!
Correct….it’s called a scheme of arrangement… under section 425? of the companies act…seen it many times in the 80s
Part 2 - the market will eventually wake up….
LINE 1 OPERATIONAL & FINANCING UPDATE
As announced on 14 November 2023, the Company reduced construction activities at Araguaia, progressing only critical work streams in order to manage the Company’s liquidity, whilst continuing discussions with the Company’s cornerstone shareholders and senior lenders. Based on the cash preservation measures undertaken to date, and ongoing conversations with suppliers, the Company now estimates to have sufficient working capital until the end of January 2024. If successful, the discussions with the cornerstone shareholders and senior lenders should avail further interim funding to extend this period.
As of 15 December 2023, the Group had a cash position of US$42 million, of which US$19 million is held in secured accounts relating to Araguaia’s project financing and US$16 million is segregated for the development of Vermelho, with the balance of US$7 million spread amongst other entities for the ongoing running of the Group.
The Company’s cornerstone shareholders and senior lenders are CONTINUING to undertake their respective due diligence as part of a FULL funding solution, which includes WORKING with the Company and independent consultants who are UNDERTAKING a review of the outstanding Project capital expenditure and schedule. It is EXPECTED that this due diligence process and independent review will be finalised in Q1 2024, with a full funding solution TARGETED for early Q2 2024.
During this slowdown period, the Company continues to advance construction of two workstreams, the Water Storage Reservoir and the 230kV powerline, both critical components of Rotary Kiln Electric Furnace (RKEF) operations, while maintaining a strong focus on safety and cash preservation measures.
In conjunction with the above, the Company continues to be focussed on MINIMISING the impacts of the deceleration and demobilization of construction activities on site, as well as taking the necessary actions to secure a safe and sustainable resumption of construction activities following the slow down.
LINE 2 FEASIBILITY STUDY
Due to the ongoing review of the outstanding Project capital expenditure and schedule for Araguaia Line 1, the Line 2 Feasibility Study has been placed on hold given the intrinsic relationship between Araguaia Line 1 and Line 2.
ARAGUAIA PROJECT UPDATE
HIGHLIGHTS:
Demobilization well advanced with two critical construction activities continuing to progress
Consolidated cash position of US$42m as of December 15th 2023 which is expected to last until the end of January 2024
POSITIVE discussions remain ongoing between lenders and cornerstone shareholders with regard to commercial terms for an interim financing solution to EXTEND this period
The Company and independent consultants CONTINUE to review the outstanding Project capital expenditure and schedule RE-ESTIMATE, necessary to IMPLEMENT a full funding solution
Horizonte Minerals Plc (AIM/TSX: HZM) (“Horizonte” or the “Company”) the nickel development company, announces that discussions with the Company’s cornerstone shareholders on an interim financing package CONTINUE to progress.
Discussions were initiated to provide sufficient liquidity for the Company to complete the REQUIRED re-estimation and risk reduction work necessary to IMPLEMENT a full funding solution for its flagship Araguaia Nickel Project (“Araguaia” or “the Project”).
Much positivity with this co. IT gold mine with payment solutions and AI SOFTWARE in a growing market expanding in Europe / Asia…. momentum will drive these up as contracts and news business contracts are confirmed… DYOR… but these are great value with much opportunistic avenues to make good
Technical UT will be corrected in SP upon market opening. Sellers are fools. Expect the bull run with these as they outperform and make further acquisition moves to grow revenues and p&l. I really think sellers are blinkered…expect 70p in the next month or so…and then up up up….to 80p+
The prior RNS was tactical reminding the world they’re still in business and progressing positive talks with banks, cornerstones and major equity investors and guarantors. Interestingly DD continues - it doesn’t take that long really does it when the focus is on finishing A1 mine? Now surely to complete A1 we need the report of additional costs as how can anyone agree finance if you don’t know what’s estimated plus contingency as this needs to be it. I agree it’s not a bridge facility it’s the complete package to complete A1 ready for business. Therefore A2 and Vermelho will follow with separate funding or even be sold as part of the A1 finance. I suspect news sooner and a recovery in the SP to anything up to £1…… this I believe will be the outcome…
It would be helpful to know what the funding gap is….due diligence shouldn’t be difficult really….a few more pennies for something 80% built isn’t rocket science is it? They need to speed things up because no bank wants to pull the plug and lose £450m…. and the majority equity holders will want to do the suppressed SP beyond £1….easy really…
There’s a lot in this RNS…. I may look like stevie wonder but my eyes don’t lie…read again Blue… the pub man will be coming out soon… with wiser words of doom and gloom…
Thanks Strow…. Your wise words are appreciated… I just thought the market reaction to drop these lower was madness. The SP isn’t doing justice to the sentiment in the messaging. It pointless them focussing on a2 or veh at this time. Yes they need to fund a1….that’s simply it and one remark yesterday was about a bridging loan that will need to be repaid. The revenue generation in a1 after expenses will be lucrative e…£1.8-2.5bn…and with a functional mine a2 will be worth £3bn after expenses with Veh probably the same. All in all so £8bn less 900mn leaves much value for all…plus working capital and leverage for building and fund the remaining projects. Yes there are risks but these are worth the pain. How can people just want to talk these down…hopefully the positive funding talks will be made simpler by doing the maths….and releasing the cash to get this over the line…..
I’ve said it all and believe these are so undervalued it’s mind boggling why these haven’t been snapped up ready for year end results and dividend. People, seriously make the acquisition and park these all the way to 90p next year. Wickes should make these run higher…..much value and growth to look forward to….
There will always be profiteering…but this is gold dusts … RNS will be forthcoming…. fill your boots….
What precisely is negative here and the market thinks it’s going down! Foolish idiots!!!!
Araguaia Project Update
Horizonte Minerals announces that discussions with the Company’s cornerstone shareholders on an interim financing package continue to progress. Discussions were initiated to provide sufficient liquidity for the Company to complete the required re-estimation and risk reduction work necessary to implement a full funding solution for its flagship Araguaia Nickel Project.
Highlights include:
Consolidated cash position of US$42m as of December 15th 2023 which is expected to last until the end of January 2024
Positive discussions remain ongoing between lenders and cornerstone shareholders with regard to commercial terms for an interim financing solution to extend this period
The Company and independent consultants continue to review the outstanding Project capital expenditure and schedule re-estimate, necessary to implement a full funding solution
Demobilization well advanced with two critical construction activities continuing to progress….
Honestly mugs