Member Info for Hazbeen

ANOI — London nickel prices hit their lowest in more than two months on Thursday while the Shanghai contract for the metal also dropped on concerns of oversupply in the nickel battery market after Chinese giant Tsingshan announced a major supply pact.

Three-month nickel on the London Metal Exchange shed as much as 5% to $16,555 a tonne, its lowest since Dec. 31, 2020. The most-traded June nickel contract on the Shanghai Futures Exchange tumbled as much as 6% to 130,510 yuan ($20,175.61) a tonne, its lowest since Feb. 5.

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China’s Tsingshan Holding Group, a nickel and stainless steel giant, will provide 100,000 tonnes of nickel matte to Huayou Cobalt and battery materials maker CNGR Advanced Material.

Nickel prices have surged partly on expectations of battery nickel shortage, but Tsingshan’s move could prove economically sufficient supply for the sector.

How sentiment can change

“Tsingshan’s mass production of nickel matte triggered a supply-side reform. The supply bottleneck for nickel sulfate has been broken. There’s limited room for nickel price to increase,” Huatai Futures said in a note.

Huayou also said it would produce matte from nickel pig iron.

https://www.spglobal.com/platts/en/market-insights/blogs/metals/030321-nickel-hpal-technology-ev-batteries-emissions-environment-mining

bid/offer..moving up a little...hopefully overhang clearing soon

250k and 500k sells this morning.
Someone is selling into the buys..

$64m question that
But I would say once funding is in place , in 6 months at the earliest .
Little news on how much progress has been made if any .

Long read but very bullish for EV and stainless steel Nickel demand
https://www.kitco.com/commentaries/2021-02-17/Nickel-graphite-to-benefit-from-explosive-growth-in-battery-storage-market.html

Bid and asking prices have moved up now
L2 still 2v1 as all morning

Good post a2d

“The Company is also in discussions with a number of ECAs to participate in the facility by providing equipment linked financing. This process has progressed well throughout the year and the Company looks forward to moving towards credit approvals and execution of definitive facility documentation in 2021”

I guess the surprise was finance would complete in 2021 H1 and not in Q1 2021 as many thought .
And frankly I did not read deeply enough as it was not clear it would be dilution .

Project Finance

The project finance process, led by Endeavour Financial, continues to make strong progress. As announced on 12 August 2020, the Company executed a mandate to arrange a senior secured project finance facility of up to US$325 million, with a syndicate of five financial institutions. The Company is also in discussions with a number of ECAs to participate in the facility by providing equipment linked financing. This process has progressed well throughout the year and the Company looks forward to moving towards credit approvals and execution of definitive facility documentation in 2021. In addition, the Company is progressing interest and participation from Brazilian financial institutions, including the Brazilian Development Bank ("BNDES"). The Company has also received initial approval for a financing facility of up to R$200 million (approximately US$32 million) from Banco da Amazônia ("BASA").

Simultaneously, the Company is in advanced negotiations to secure long-term offtake agreements for the Project and continues to engage with a number of prospective investors. The Company has also negotiated a non-binding, conditional term sheet with one major cornerstone equity investor, subject to amongst other things, completion of the full financing package

Due to the impact of ongoing Covid-19 related lockdowns on financial markets, the Company now anticipates completing the full project financing package in H1 2021, with construction commencing shortly thereafter. This timeframe will continue to be subject to the ongoing impacts of the Covid-19 pandemic. Each part of the project finance package remains conditional until all components are in place with a simultaneous closing targeted.

Anyone know the EV battery composition used by these cars
Made my LG chem .. think Lithium plover batteries , but not sure of composition . Sure used less or no nickel but not sure

https://www.fastcompany.com/90607884/hyundai-ev-battery-recall-82000-electric-vehicles-at-fire-risk

If the Co is using 30 and 60 VWAP, then i expect the Co's periodical newsflow over the coming weeks and months to trigger a higher share price which will ensure a higher VWAP price. I hope this is the plan

Thanks B

yes,
JM needs to clarify how fund raising now changes the debt/equity financing going forward, if at all

PP,
I have seen a couple of offtake agreements signed on just PFS and DFS completions. This is why we will get offtake agreements within next 1-3 months I am sure

"they still haven't signed any off takes, possibly because the mine build hasn't started. Negotiating simultaneously may have been just too hard."

Ivor, good point

"he looked uncomfortable probably because he had told shareholders that the package would all be announced at once. Clearly this has not happened and now he has gone back on his word."

I see. But not telling us anything new, just a revamped format

you mean this one Craigie?

https://horizonteminerals.com/news/en_20210219-investor-presentation.pdf

TDT,

If it derisks the Co by having a strong balance sheet - good
If it reduces the financing to come next - good
If it ensures no delays to construction - good
I am excited by the offtake agreements which seems will be announced before the funding.

ZQ
listen to the interview from 4mins about the reasoning about the critical path

Re-assuring interview.
Will receive updates in H1 for
Off take news soon - single digits will be no more on this news
Funding updates
Vermelho permitting news