Member Info for Hazbeen

The Awarded Options include the following amounts to a director or officer of the Company:
Director
Executive Director - Jeremy Martin Non-Executive Chairman - David Hall Non-Executive Director - William Fisher Non-Executive Director - Owen Bavinton Non-Executive Director - Allan Walker Chief Financial Officer - Simon Retter
Number of Options
8,000,000 4,000,000 3,500,000 3,500,000 3,500,000 4,000,000
38,150,000 of the Awarded Options have an exercise price of 4.80p. One third of the options are exercisable six months from the date of issue, one third 12 months from the date of issue and one third 18 months from the date of issue.
In addition, 1,500,000 options with an exercise price of 3.20p have been awarded to a contractor in line with the previous financial year’s option scheme awards.
The total number of options outstanding is 134,300,000 which represents 9.4% per cent. of the current issued share capital of 1,432,521,800 ordinary shares.

I like the Piedmont agreement , derisked all the finance risks

Thanks M

Really that soon !

Getting ahead of itself a little .
Cash is good until DFS .
DFS is next milestone , timelines on this are usually 18- 24 months

STAGE 3
Funding of Capex (US$70m)
To deliver a 1.5Mtpa to 2Mtpa ROM operation for a 10-year to 8-year LOM respectively for a further 27.5% of Ghana portfolio

No RNS. Come up on LSE...how annoying

I think it right what you guys have said
HPAL if the aim is to sell the asset
Nickel matte or Stainless steel route if keeping to become a producer

But I think we can agree Vermelho or both assets will be sold

So what ate the alternatives to HPAL at Vermelho ?

Remember JM did say it could be used for stainless steel Nickel if the
Demand and the Nickel pricing was advantageous over risky over HPAL

Can we truck ore from Vermelho to be used at Araguaia like someone said
With additional lines added . Use Nickel Matte conversion for battery Nickel

Would this be a low risk cheaper option ?

Pp,
Thanks for confirming

Their track record on timelines are rather poor up to now

I have a couple of questions niggling me .

1) the original contingency is still in place and part of the secured debt facility ?
Is that right ? .
I get why money had to raised as debt holders need that safety net , to release the money .
So in effect this dilution could replace the need to use all the contingency still in place as it was supposed to cover this sort of scenario ?
Debtors are just mitigating or eliminating risks . .
The plant will be built , it is just at what overall cost above the original forecast .

We cannot rule out that Q1 2024 for first production timeline will be met. Still some risks involved with this.
I will take Q2 at worst case though.
Frankly cannot take anymore dilution for Araguaia again now.

Hi, here is something I thought you might find interesting: - https://uk.investing.com/news/commodities-news/honeywell-to-make-lowercarbon-aviation-fuel-from-ethanol-2775923

Get buying because it will stay in single figures for too long once buybacks start and are agreed

Anyone seen Co proposing 15% share buyback

6. To authorise the purchase of ordinary shares in the Company;
- The maximum number of Ordinary Shares thereby authorised to be
purchased is 15 per cent of the Ordinary Shares in issue as at the date
hereof with a nominal value of up to £8,836.17;
- The minimum price to be paid for each such Ordinary Shares is the nominal
amount (exclusive of expenses) thereof;
- The authority conferred to make market purchases will (unless previously
renewed or revoked) expire on the earlier of the next annual general
meeting of the Company and the date being eighteen months after the date
on which this authorising shareholder resolution is passed.

Also maybe alternative investing maybe the way to go especially for the next say 8-12 months
Stick with safe producers and stay away from development companies now
Realistically what price do ppl expect this to be in 6 months ....remain less than £1.20 is my call
I will expect a lot of share churning to take place over next few months anyway

Hi TDT
Thanks for your thoughts
Inflations has become an excuse for many now and there is no doubt prices are being inflated because of this which itself creates more inflation
I do not get why existing contingency failed to bridge any shortfalls and let’s not forgot the apparent cheaper furnace , saving tens of millions .
The Nickel Matte is a change in strategy I feel . Maybe the Co is looking at the costs of producing battery grade Nickel . I really think HPAL route for Vermelho will be too costly and risky as this is still 5-6 years away to production .
The saving grace today is Nickel prices are all above DFS forecasts
If Nickel fell below say 18K , I think it will become more challenging to make decent profits especially if HPAL is indeed considered
I feel that idea is dead whoever takes it on

WASA
That sounds plausible, remind me what is is NPV for A1 and A1 + 2?

I am thinking if that is best I am going to get (maybe) , I probably can make that sooner on betting in oil stocks and later next year Gold
This has become a disappointment
Maybe selling the lot 90P+ does not seem such a bad idea
Has left a bad feeling this dilution I am afraid ...this is exactly what big boys want us to feel

Any share price appreciation we were all hoping for is being diluted away

For Araguaia producing full nameplate capacity You may get NPV otherwise I will half it

After dilution and that is with no more coming , what are we talking ??.£2 or £2.50 offer ?

TornadoTony
. Does any of this cover increasing development costs of Vermelho ?