Member Info for mjb606

Just a quick note to express appreciation for rivaldo's consistent posts here - must feel a bit lonely at times! I was recently liberating some investments to pay down. My mortgage (fixed rate coming to an end, and interest rates considerable higher than 5 years ago). In part due to some the the commentary and analysis on this board, VLE was spared from my cull! Let's hope that the SP continues to justify that.

Presumably it is no coincidence that the issue price is the same as the most recent unaudited NAV per share value (see recent RNS)

Given NAV of £14.82, I would expect "enhancing shareholder value" to mean that we should expect deals to increase beyond this - otherwise they could just enhance value by liquidating and giving us the £14.82, which is almost 30% above the current SP.

I think I will sit tight and wait to see what the future brings...

Araguaia was only intended to produce FerroNickel (FeNi30). Recently there has been some discussion for converting a portion of production to matte - possibly from A2. Vermelho was initially spoken of as being capable of producing either FeNi (using RKEF), or producing battery capable material (Nickel and Cobalt salts) using HPAL.

I suspect that this will be the first part of the update later, but just watched it through - all looking good, but they good do with some new background Muzak!

Hopefully the link will work...

https://youtu.be/TfC3waYquy8

Couple of additional points from me:

The presenters did exude confidence in the future for Invinity, and I got the sense that there were still things that the can't say yet. That's always good to see, even if it is a bit intangible.

There was a clear focus on the route to profitability, and in response to a question, Matt Harper agreed with the timescales touted by analysts for positive EBITDA around 2025.

One of the main issues I think they are facing is how to scale up quickly enough to meet demand and achieve profit. I think they said that the current cash position will see them through to about June next year, and there was talk of further strategic partnerships in different regions - particular mention was made of ensuring enough local content in the US to benefit from the Inflation Reduction Act.

Mike

"Expected to be operational in H1 2024" - that could be up to a year away.

The project is expected to be a reference site for others, so this implies that there will be additional time.needed to gather operational data before real deployments begin.

I make it closer to £1.33, using $1.685 Canadian to the pound. Seems about where HZM is currently - not much difference

Last year the final results for 2021 were issued on March 28th - I presume that the annual results for the year ending Dec 2022 should be released to similar timescales.

(That doesn't affect the pictorial site updates but I would imagine there could still be a post-reporting period update tacked on to the financial results.)

^substantial discount^ - somehow I omitted the second word!

Nice bounce in the sp today - and more activity than normal for VLE. Having said that, the sp of 1149 is still a substantial to the NAV per share of almost 1400, so either there is further to go, or the market is placing a negative value on the ability of the Landers to generate more value in the future.

It will be interesting to see what they find to turn around next - Indulgence was a rare fail for them, but Shire still going great.

Interesting comment about adding option to convert a portion to Nickel Matte, to feed in to battery production. Also god to see this from Jeremy (as with every RNS at the moment):

"We are making solid progress on the construction of Araguaia Line 1, which remains on-budget and on-schedule to produce first nickel in 1Q 2024, whilst simultaneously preparing for our next growth phase with Vermelho's Feasibility Study expected to be finalised in 2024."

Thanks for this - quite interesting to see the research coverage on p23.

The Canadian dollar valuations seem much higher valuation than the GBP ones - even at CAD4.50, that equates to around £2.76, if I have my exchange rates right. The CAD7 valuation is about £4.30. I wonder why there is such a large difference?

Mining services contract signed (in line with feasibility study).
...and by the way, A1 project still on time / on budget

I think that's often the case with such illiquid shares - large prive movements on small volumes are something that have been an enduring feature of VLE since I first bought back in 2017.

Mentioned interest from OEMs and battery manufacturers for Vermelho

I was reasonably hopeful of good news - mainly on the grounds if anything material had changed since the Q3 report, they would have had to tell us already. So an RNS on the morning of the presentation could only be "nothing to see here, everything still progressing to plan".

(Although I realise that my logic may be flawed. At least the presentation is at a time that I can make - not working this morning!)

I still remember another share that also had "minerals" in its name where there were frequent guess the price in X months threads on the BB. Didn't turn out well for investors...

(I am not saying that the massive amount of speculation had an impact on what happened there, but it could have encouraged other PIs to invest, who subsequently lost quite a lot of money).

Clearly HZM is a different prospect, but the experience has left me wary of participating in price guessing!

The Q3 results RNS did promise a project update and investor presentation in December. I am presuming that this should be before Christmas, as I don't imagine anyone will want this between then and New Year - so shouldn't be too long to wait.

Just hoping its on a day when I am not working, so that I can attend live, rather than wait for the recording.

May seem slightly off topic - but this could help boost the economy, and hence demand for stainless steel, batteries etc. and allow production to increase.

https://www.bbc.co.uk/news/world-asia-china-63855508.amp