Member Info for mjb606

Personally, I can afford to wait a bit longer, as in no hurry to sell (I have been in since Nov 2017, so what's a few more years!) Would even be ok waiting for the dividend stream, if not bought out before we get that far.

I realise that the stated intention was to fund stage 2 from stage 1 cash flow - but I suspect that there may be more incentive for an early start on stage 2 if nickel does play ball.

The only question then is how Vermelho is progressed through full feasibility / construction/ production. Likely to involve a partner - if HZM is still independent by then.

Rather indicative that an RNS saying (in effect) nothing that we don't know already can cause this flicker of share price movement. (I do realise that it was probably quite helpful for them to reiterate the Q3 financing target this close to the end of Q3!)

It will be interesting to see what happens when the main RNS that we are all waiting for finally appears! (I guess it will depend on how big the dilution for the equity component is, and the precise terms of the debt element).

Loads of good, positive, encouraging news since the start of the year - about HZM, the economy, commodities etc.

However - nickel price up over 14% since Jan 1st, HZM share price down 17% over same time period.

Something doesn't add up!

To me, the RNS read very much like a holding position - more aimed at preventing further decline in sp, rather than an increase. Still holding here, not intending to sell any time soon.

https://twitter.com/HorizontePLC/status/1410132661331546120

They do seem to be trying to remind people on a regular basis that there is value to be had here.

Also, it seems to me over the last few days there there has been a slight uptick in the larger share dealings (I tend to ignore anything smaller than about 100k shares as "noise" at this stage).

Interesting slide - suggests that quality assets such as ours could be valued at 35% of NPV, whereas we are currently at 5% - this implies our MCap could be 7 times higher than it is. (Note - I haven't worked the numbers myself, just take from the slide in the tweet)

I don't think that I will be buying any more (although I have said that in the past, only to be tempted back in!).
My main reason is that I already have a disproportionate share of my portfolio in HZM (~30%). The other is that I don't have any spare cash, and can't think of any elements of my portfolio to recycle!

Having said that, I am reasonably comfortable remaining invested for the foreseeable future - as others have said, this does look like a positive RNS overall (notwithstanding the disappointment of the delay).

My view on investing (I don't do trading) is not to buy anything unless I am prepared to hold for at least 5 years - my first HZM purchase was Nov 2017, so I still have a little way to go there! (I have sold other stuff within 5 years, but that's only when something major changes to make me rethink the original investment).

I do hope that this is the last financing delay - as the value will only start to be fully realised when HZM actually start digging up stuff and turning it into usable nickel (with FeNi or sulphates!).

Couple of points:
1. Many of Equiniti's share investing customers are due to be shifted across to ii later this month - not sure whether than applies to the poster below.

2. The current share price is a fraction over the offer price - does anyone have any opinion on this? Does it indicate that people are thinking that there is a slim chance of a higher bid coming in? All things being equal, I am wondering whether to just sell out now for the slight premium.

It is often the case that formal financial reports include some kind of "going concern" risk statement along the lines of "if the unexpected happens, can you keep going". This seems to be a bit like that - i.e. if delays do happen do you have the financial firepower to weather the storm or would you have to fold.

I do believe that a short delay may be possible - the webcast implied that end H1 was still viewed as an achievable target, but it wasn't nailed on.

@Like2: My pin (for what it's worth): Definitely seem to be past the minimum point in the development phase on that graph. Not sure how far up the slope we are though, and how much is left to go!

Oops - obviously mixed up H1 and Q2, and typed H2 by mistake! Only just over a month and a half to go, in theory...

As I see it, without an RNS the webcast won't be able to say much that's new - either positive (e.g funding achieved) or negative (e.g. funding delayed).
So I think that the best we can hope for is a "steady as she goes" presentation, telling us that everything is still on track as announced previously. There might be some body language / tone of voice nuances that give people a sense of confidence (or not).
Hopefully confirmation that H2 financing is still on track.

The way I see it (which could easily be wrong!) is that the Corporate update may well be a little more forward looking.
The AGM is (necessarily) more backward looking, as it is based on the annual report - which I think that from memory only goes up to December 31st. AGMs have to include more "mechanical" stuff - approving reports, reappointing directors, auditors etc., although they do often try to include some stuff on what's happened since the report was prepared.

Also, from the RNS, it is not obvious whether any shareholders will actually be able to go to the AGM (due to COVID restrictions).

I don't think so. The total number of shares held is identical to the latest info on the HZM significant shareholders list, but the percentage has gone down. I suspect that this is just a denominator effect - the number of shares in issue has gone up due to the fund raise, hence existing holders have been a bit diluted.

I did wonder if there had been any movement across the pond, but the price on TSX is unchanged, and almost zero volume, so it's not that.

Many thanks to all who have responded - and yes, I am currently with Eqi (originally Comdirect, which became Selftrade and then Eqi!).

I think I will take the lazy approach, and just sit back and let the transfer happen.

I apologise for the off-topic post, but just found out that my current broker is transferring me to interactive investor at some point in the summer. Can anyone let me know if they are any good, or whether I should look to effect my own transfer to somewhere else! TBH, if they are reasonably competent I will probably take the lazy "do nothing" approach!

Reasonably annual results a couple of days ago and another contract win for Clareti.
At current prices I am now up a bit, although since my initial buy was in 2017, the annual rate of return is sill a little on the low side (although still beats most savings accounts!).

As far I I understand things (and I could be wrong!) - the RNS from yesterday is just confirmation of the Canadian part of the $25m fund raise - the warrants will eventually be converted into shares as stated in the original placing announcement back in February. Not sure why this has caused all that much comment, but it seems that some seem to be interpreting this as an extra $10m fund raise, which I don't think it is.

Could easily be my misunderstanding of what it means for the shares to be admitted to the market!