Member Info for Ivornomoney

As part of the Canadian Offering, the Directors and executive officers have agreed not to sell any Ordinary Shares held by them for a period of four months and one day, without the consent of Paradigm.

I think I read somewhere these shares can't be sold for 4 months.

Why no rns on the new shares being issued?

Ok cheers everyone that helps alot.

It will probably be released when all the shares have been flipped otherwise they won't be able to sell them at a profit once the dilution happens.

No debt* also how much does the upgrade cost and when is this likely to happen?

Hunter, I thought there was now now debt?

Thanks SR, can you explain the following to me I'm a bit thick.

Group net cash position as at year end of approximately US$4M, following strong financial and operational performance in 2020. (Net debt position as of 31 December 2019: US$282M). The Group's cash balance as of 31 December 2020 was approximately US$270M (31 December 2019: US$131M).

Does the company have a total of $274m cash in the bank? Is the $270m to pay of the outstanding debt or is the debt now paid?

Any share price expectations for next 3, 6 and 12 months? Any chance this could take a bad hit in the future?

Are holders selling out and waiting for the results?

50/50

Banco da Amazonia isn't one of the 5 banks.

It doesn't mean that.

It means a $32m facility separate from the $325m debt. Otherwise are they saying we've raised $32m of the $325m debt funding?

It mentions it twice in the rns.

ihowells

If you read the rns, the debt from the 5 banks was announced first.

Then when the financing wasn't completed in December they then announced $32m facility with banco da Amazonia. It clearly states in the rns that this facility is in addition to the $325m debt.

If the email is correct then hzm have deliberately misled investors.

Then the rns must be wrong?

That was a very quick reply??? What time do Horizonte start work then in London?

Thanks Ericb

Ok so far then.

$463m needed

$325m debt
$39m cash in the bank
$32m banco da Amazonia

$67m left to raise.

Orion mine finance $m?
3 Tier One Off Takers $m?
ECA $m?

Dec Rns

The project funding package for Araguaia involves multiple components that are being negotiated simultaneously. We continue to engage with a number of prospective investors, have recently negotiated a non-binding, term sheet with a major cornerstone equity investor, have reached an advanced stage with offtake agreements, received initial approval for a financing facility of up to R$200 million (c.$32 million) from Banco da Amazônia AND are advancing workstreams with a syndicate of five international banks for the principal project finance package, as previously announced.

I've put the AND in capitals which as written would suggest aswell as the $32m.

Rileyma

I can't believe that if it's true. This was the sweetener for not completing in December. This would have misled investors.

I agree that 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.