Member Info for Ivornomoney

If Glencore and La Mancha end up buying this there is a case for legal action.

Please note that the Company was placed into Administration on 16 May 2024 and Chad Griffin and Geoff Rowley of FRP Advisory were appointed as Joint Administrators.

The Joint Administrators will be winding-down the Company’s operations following which it will cease trading.

Should you have any queries regarding the administration, you can contact the Joint Administrators on hzmplc@frpadvisory.com.

The Joint Administrators act as agents of the Company and without personal liability.

The Company entered Administration on 16 May 2024. The affairs, business and property of the Company are being managed by the appointed Joint Administrators Chad Griffin and Geoffrey Paul Rowley.

Is this some cowboy administrators looking to hand over all the assets on the cheap to Glencore etc?

Try googling Stellar Resources to see how long they have been talking about mining for gold. The only people getting rich are the ones working for Alba.

To ask yourself how the main share holders who all had a member on the board allowed this to happen? The fact they own 52% of the company makes it look deliberate and they planned this all along.

I thought they had access to $713m

$633m

Then another $80m?

Ask yourself how much will it cost to mine 1oz of gold then work out how much gold they need to break even.

Idiot.

Don't waste your time or money on Alba, find something else. You might get some good tips from Baron Investments on Twitter. This has nearly 8bn shares in issue so a consolidation is coming. How much money do you think they need to build a working mine? £100m £200m probably more like £800m.

This will never come good. This will only ever make money for the employees. Google stellar resources to find out how long this has been going on.

HSBC is a new addition to the list? Also why didn't they use today's date to check the register? Looks like a rescue is going to happen.

Id say they are not aloud to buy any as they have inside information so are probably in a closed position.

Also they currently hold 52% if they dilute themselves to less they could lose control of the company. So it's in their own interest for a debt solution.

If this did go into admin the banks are going to want their $325m they will not let La Mancha and Glencore buy it for peanuts. They will still need another $454m to complete stage 1.

Reading his profile on the website makes it look like an easy task to raise $454m

Mr Nasr was a member of the Executive and Investment committee of Wind Telecom and Orascom Telecom, where he was in charge of Corporate Finance. During this tenure, he raised US$68bn in debt and equity and closed US$67bn in M&A transactions. In particular, Mr Nasr led the 2011 US$25bn merger with VEON, was one of the two executives responsible for the 2005 US$17bn Wind Telecom Leveraged Buy-Out and managed the 2009 EUR3.8bn debt restructuring of Wind Hellas in Greece. Mr Nasr currently serves on the Boards of G Mining and Elemental Altus and holds a Masters in Management from the University of Paris IX Dauphine with a major in Finance. He is fluent in English, Arabic and French.

Of course you would walk away from a $86m investment for La Mancha.

Don't talk so much rubbish. Where else are they going to find a project this far from completion where they can see a return on their investment?

Picked, there was no offer, they were all sacked.

Mr. Nasr will step down from his day-to-day executive role within La Mancha to devote himself to Horizonte and put in place a financing plan to restart construction.

Send you market abuse claim to the FCA.

Jeremy Martin should have suspended the stock when the rns came out. Looks like a deliberate action taken by the company to had over the company to the major share holders.

https://www.fca.org.uk/market-abuse-reporting-form

Glencore to end support for Koniambo Nickel in 2024

Glencore has said that it will stop funding its Koniambo Nickel mine New Caledonia, Canada, in early 2024 due to its failing performance.

Gone from Hzm website.