Member Info for D220

highlandsbull - "I think it more likely Smith was given the heave ho by his two fellow conspirators" spot on. Dickie was not pulling his weight and had lost interest was what I had heard.

Can't believe I have been able to buy more at 3.47p!

Surely that must be "gap filled" now?

MM:
" we are feeling our way towards some excitement"
"I'm quite optimistic about it - it looks very encouraging - so far"
Should have another anouncement when current drilling is complete in about a week's time. Currently drilling 6th and final hole (2 on each target). In the New Year they will be putting geo physical equipment down hole to search for massive sulphides with proximity to the holes using EM.
All looking good but not conclusive yet.

Good interview. "we're not there yet" but "looks very encouraging". Sounds as if we won't know for sure if we are on the money until the New Year so more top up opportunities I guess.

It does sound positive. However, my lack of geo knowledge and understanding prevents me from properly interpreting what the company are saying. I am interested to see if the market determines that this is positive.

Bf - certainly sounded to me like he isn't done buying. Very strong hints that this will be sold to a major in the not too distant future. As you say, very exciting!

Yes, he has an agenda. He pops up on the SQZ to delight in the fact that the gas price is down. Never mentions when it goes up.

Further notes from cgequityinvest from advfn from yesterdays preso by HZM:
"yes there was some feedback re personnel at Arag but i can't remember the detail! I asked whether they felt they had the expertise to take Arag forward all the way thro production rather than selling it as an oven ready investment opportunity to a major. The response was that the board had strong operating experience (Owen Bavington and the Teck Operating VP guy Alexander Christopher were mentioned). At the same time they mentioned the recruitment process going on in Brazil which is well under way - some figs were mentioned but i can't remember the details.

Some other points while i remember :

1/ I had not realised how close the Vale operations were to Araguaia - they are just to the north - the inference being their is a pool of local expertise available and secondly the infrastructure is largely in place.

2/ The scale of the opportunity - if both A and V are developed and are producing the combined output will make it the 8th largest nickel mine in the world.

3/ Both mines are in the lower quartile in terms of costs - we already knew this.

JM stressed that the Orion money gives them the luxury of being able to take time to ensure they pick the right financing route/build shareholder value - they are not under pressure to raise any more equity and are in a stronger negotiating position re offtakes/JV's/private equity funding etc etc.

I came away significantly more confident than i have been that both mines are attracting strong interest from third parties and are seen as attractive assets in the market. There are a number of moving parts that make estimating the end value tricky ... but its a lot further north than their current £55m market cap."

you would have to ask cgequityinvest on advfn as I was only posting his/her notes
Good question though!

Nice buy! I thought I was doing well getting two lots of 133k each at 3.7p!

Notes in full. Thanks to cgequityinvest on advfn:
"Some further feedback from yesterday's presentation at Mello.

Most of the background is known so i won't repeat that. Most of the additional insights came from Q & A plus talking to Jeremy Martin and Simon Retter after the main presentation.

In no partic order and based on my notes/interpretation:

1/ They are frustrated with the lack of recognition within the market place for the significant progress made/potential and confirmed that the equity markets are tough. Jeremy reiterated the desire to get the market cap up to £100m asap but some fund managers are "watching and waiting" rather than committing due to a combination of Brexit, trade war, issues with illiquid stocks (Woodford) etc. The fund managers are effectively waiting for evidence of offtake agreements and delivery of debt.

2/ There were asked about Teck being a more major investor/acquiror. JM's feeling is that they are unlikely to want to acquire HZM as they are not a primary nickel producer but they could be interested in a more strategic role/stake.

3/ Simon Retter advised that his and Jeremy's short term focus is to explore all the fundraising options/avenues and determine the optimum route that maximises shareholder value.

4/ Since the Vermelho PFS they have had significant interest from private equity groups and EV manufacturers and have effectively put together a data room of information. One of these interested parties mentioned is Tesla (I got the impression their private equity arm).

5/ JM was asked about the possibility of selling the business now - his response was its not for sale as mgment believe they can generate much more shareholder value by progressing both projects.

6/ Orion's royalty has provided credibility - partic with the banking for Araguaia. Some of the banks will effectively piggyback on the DD completed by Orion. I got the impression that they are looking for Orion to take a significant stake in the debt/equity for Araguaia - with JM suggesting that the overall size of the deal is not far from their average investment. So my interpretation is that the Orion royalty is very much a starter position and they will be a cornerstone/majority funder on Arag going forward.

6/ As part of the financing package for A - they also see interest from stainless steel producers - i guess this is the offtake element.

I asked whether how confident they are about getting the financing in place - the response was robust - it being more a case of determining the optimum route. The team are very busy at the moment meeting interested parties and working through all the options to determine the best way forward.

Apart from the above I asked about the market premium attached to nickel sulphate for the EV market. JM said that the premium of $2000 a year ago has now turned into a deficit of $1000 - i.e. producers have ramped up production before the market has really started to motor."

Swizz - I cannot answer your question! HZM come close but can't tick all your boxes!
I have been doing some sums and would like them confirming:
Jan has 26% of Val Ore. Val Or has (fully diluted) shares of 103m @ 0.26CAD which (at 1.70 £/CAD)is £15.45 MC so Jan's share is £4m!
Our current MC is £4.38m so we are not being valued for our other assets at all, not even cash! Am I missing something?

"The companies will not be targeting investments in continents such as resource-rich Africa and Latin America" :-(

A few profit takers in the last half hour but the rewards are potentially huge for holders. News this week or next is the question.

https://www.telegraph.co.uk/business/2019/11/02/must-follow-norways-lead-wring-every-last-drop-oil-waters/

No mention of Serica specifically but suggests a good role for us to extract as much as possible.

Just added another £4k at 2.3p. Had to use fill or kill as HL wouldn't give me a live price. Not sure if it will drop further today but will add more if it does.

Agreed. RC has alot of questions to answer. I should have taken my cue to exit when the original Chairman took his leave. He could knew which way the wind was blowing. At least I did get out before the end game but at one point I had been £180k up. Arrrrggh!

Rellim,
There are several of us here that want no connection to that disasterous entity that was Xcite Energy! :-(

Right, if that is done and dusted now, didn't someone say there was a gap at 12p??? :-)