Member Info for BwanaMakubwa

Good news for us is that AIM deeply researches-hence knows more than most of us collectively on this Board.

No discount-but a 2% commission to Glencore-sounds fair to me especially as they made no "hoped for" prepayments.
But...that may be a good thing, as prepayments would have been at a fixed price. If nickel goes to $28-30k this is a better deal.

Thanks Tony.

Would agree FTC. Given the new shares are admitted today that will probably close out the balance of the short and they could now be long shares.
Tornado could you let us know if the full short closes today as that will explain things-does not really matter now, but would just be interesting to see.

HF-Good evening to you too.
Glad to see you hanging in there!!

It will be interesting to see how this trades tomorrow. Hopefully the bulk of the stock went into sticky hands and now with the certainty that the deal is complete we will get some of our new institutions, family offices etc using the sub 7p price to average down a bit. Fingers crossed all goes well and barring a black swan event we can wave goodbye to the 6s forever. Good luck all!!

Looks like they were at it again today judging by a few of the trades.They clearly think there will be further weakness with all the new shares being admitted on Wednesday.Plus plenty of volume to cover 28 million short, though they are almost certainly involved in the placement so will cover a few they shorted in the 8s and 7s then.

Well said D220.
Little bit too much whingeing going on now.What has happened has happened.Time to either move on elsewhere or sit tight and expect a very reasonable return over the next 3-4 years.Also be grateful we are fully funded going into a very uncertain 2022 with interest rates rising, inflation rampant,Covid surging,Russians massing on the Ukrainian border,Chinese warplanes buzzing Taiwan etc, etc.Trying to do this deal in 2022 could have been pretty tricky.

In fairness Rover said it was daft!!
It really depends on three things:
1.Exactly how good the revised DFS is.
2.How attractive the complete funding package looks and what the equity dilution comes out at.I think we will inevitably see some dilution but it could be quite minimal.
3.How many of the 2.2p,3p and 3.5p warrants get taken up and the underlying shares held and how many get taken up and the underlying shares sold.Also how many existing shares are pre-sold in order to buy the warrants.We need to keep a close eye on this, however all are due by April next year so not too long to see what happens there.
Once we are through the warrant event,I do not see a further large source of selling so there is a good risk of an upside squeeze especially if MB delivers an outstanding revised DFS and finance package.
I would hope that we are in early double figures by May/June 2022.

"3p = scaremongering for the inept and hard of thinking. "

Absolutely agree with that and the rest of your post Picked-I think we now have few headless chickens running around here.
Anyone with cash is getting a steal under 6p.
News will flow and probably flow pretty hard in 2022-also more juniors will fail to fund as the macro environment tightens leaving less rubbish to punt in-we should get some sort of safety premium here.This may stay bumpy for a bit, but for investors with a 2-5 year view it is a great opportunity. Alot of trader/short term schadenfreude around at the moment.

"We will look back on the current share price in 12 to 18 months time and wonder why we didn't dive in head first."

Absolutely agree with that TDT.

I am just kicking myself that I did not read the deal better-but also feel our management could have given us a bit more guidance-slightly disingenuous in my opinion hence earlier comments that they now need to build up a bit of trust.

I think we will be okay DB-this one can be frustrating and tests the patience, but hoping for some really good news in the New Year. I know comms have been sparse , but I do trust MB and think he will pull a great deal out of the bag for us all eventually.

I would suspect well over 50% of the February deal takers are already gone ages ago-the placing went to largely very weak hands and prop books.
What happens with this one remains to be seen. The risks are:
1.Lots of small IIs who took relatively small positions and were hoping for a short term trade decide to flip at a loss rather
than average down.
2.The brokers pulled a few favours with mates to get the deal over the line-these guys could flip.
3.The macro economic and political environment has deteriorated markedly in the last 3 weeks since the placing-some risk managers simply decide to cut on the macro outlook.
Anyway-let's hope it is all very firmly placed and all the IIs take the opportunity to average down-but if they do not, do not be suprised.

I believe Mr Entwistle has been working in the background as a consultant for some time now. However, as we approach finance and construction his appointment has been made formal and a very good appointment it is too.

I think that is probably a good summary Strummer.
I too have added in the 6s,but this could still go lower. Alot depends on how firm the hands are of the new institutions. Will they average down once the new shares are admitted and build decent positions or simply sell out? Personally I do not have much faith in the placing power of HZM's brokers and I suspect there will be more churn once the new shares are admitted.
I remain very constructive on HZM-to pull off such a huge financing is incredible . However, I do need some trust to be restored by management who I have had huge respect for but now feel I will have to watch much more carefully. I got this deal badly wrong, but simply because we were guided towards a $500m deal and a single cornerstone investor. This simply made it mathematically impossible not to do the deal at a premium. Instead we got a $630m deal and 2 cornerstones. Others will disagree, but I feel it was slightly disingenuous of management not to be a bit more upfront about the reality. Also JM has been on record saying he would personally participate in the deal. If he chooses to in a meaningful size that would restore some lost faith and would probably help stablise the share price. I know he has options, which I support, but there is nothing quite like seeing a CEO and CFO putting their hands deep into there pockets and buying a meaningful slug of equity.
Finally on the options, as mentioned I do support these so long as they are treated as true incentives, not freebie gifts-so I would like to see proper milestones set both operational and related to total returns achieved by other shareholders. I would also like to see the options spread widely. So for example the A1 construction management team should be rewarded with options for building A1 on time and on budget-not on time and over budget forfeits the awards.
So bottom line still very constructive on HZM-but watching how management treat shareholders alot more closely now and accepting 3 year price target in the 20s now, not 40s.

...not having a great day:)) But on a serious note remain very positive on HZM.As for Leeds-Bielsa needs a new bucket!!

https://t.me/+axOBjN4eMCVlM2Rk

Lethal that should work.

I echo AIM's comment below.Finance and offtakes will take time even with our comparatively small funding requirement.Another thing is we all tend to forget Covid is still causing major problems and delays.MB is based in Perth (ashes Test has been cancelled there for example because of Covid restrictions).He is dealing with people in China,Asia and Africa and negotiating complex deals-these take time especially with pedantic lawyers who can be even more pedantic on zoom calls rather than face to face.
I am with AIM too on his suspicion that our offtakers want a much bigger deal hence more work and delays.However,I for one am pretty sure the news will be worth waiting for and we are going to be pleasantly surprised-though with materials inflation I expect the funding requirement to have risen from $39m to $45-$50m.Deal size has been inflated on 2 of my other resource holdings-it is almost certain to happen here but is nothing to worry about.
Finally we flog this one to death, but it really is important-MB is very aligned with us-his friends and Family control 20% of the stock, he will be looking for the very best deal for us all.Incidentally our Telegram Group who appear mostly to be LTHs looking to hold into production also hold 19%,so 40% of the stock is tied up in firm hands meaning at a £25 million market cap there is only £15 million of equity available to be traded.If MB pulls off the deal that I think he will this could squeeze up pretty hard-there is not much available stock to buy outside of our friend Mr K.

Should be positive-but who knows in this weird market?

Yes a really good cost save and moves A2 on faster.I see it as very positive, but hope they pay for the lot in cash. We really do not need more dilution.
Hopefully the market will like it and squeeze our Maven short a bit.