Member Info for Moneyman64

Sotolo-where are you getting your chrome price from..?

According to metals daily and the company website it has not moved since 14 Nov and is still circa $280 ?

PE ratio is less than 3

Very strange -thought we would have an indication of the result date by now -we were told ten days ago the accounts were being consolidated which should not take very long.

We know that the mine in SA has being operating profitably due to the quarterly production figures and the cash balances at 30th September-I still think the delay will be due to debate over the carrying value of Karo and a possible write down in this

Over to you Tharisa

BT -have you not got anything better to do than appear here everyday posting your normal doom and gloom ?

For someone who claims to be very well off you have a very strange why of spending your time with all these “ifs buts and maybes”

We all know things have not gone to plan due to mainly external factors but let’s see how things pan out over the next few months instead of posting continuous speculative drivel.

Yes Sotolo -never a good sign delaying accounts from original date.

Reckon the problem lies with the carrying value of Karo -remember this was revalued upwards and will have to be looked at-however has no effect on operating profit and we know the company was swimming in cash at 30 September -should have had indication of results by now-maybe tomorrow

Extrader -resolution 5 of the 2022 AGM mentioned authority to issue upto 204 million shares (similar to resolution 8 this year)

Believe this was before issue if shares to Glencore so very similar to last years

Resolution 8 seeks authorization to issue upto 422 million shares but the explanation says the directors have no intention at present to use this-backup if current negotiations do not go to plan perhaps?

Resolution 10 seeks authorization for company to purchase upto 94 million shares-part capital return to shareholders on joint venture agreement perhaps

October was a damp squib ,November going the same way-let’s hope we get news of something significant in December -come on Colin -let’s have more than hot air for once

100% upside today -Why -running out of money fast and needing extra £ hundred of millions needed to complete the project before a cent is earnt.

Administration and Glencore buyout for a £1

Hi Cleverthoughts-no averaging down here-lucky to have sold more than 90% of my holding circa £1.50 as I could not see a return in the next couple of years.

However did not see Martin and Co messing things up so badly here.

Better to buy shares in Glencore than here as they are the only ones likely to realise a profit here in the longterm

On the company website HZM is described as “the World’s leading nickel investment company” - someone as a macabre sense of humor

The company has also gone very quite on it’s other World leading asset -Vermelho !

What is happening here-could this not be sold off to help fund the “miscalculation” of the costs on Araguaia?

Who did the costings and if an independent contractor is there not a negligence claim against them?

Preying that there is either a full buyout or a buyout where Zioc retains an entitlement to a small % of future profits.

I only say this because the sorry saga of Horizonte Minerals where underbudgeting on the development of a tier 1 mining asset has crashed the shareprice from £1.50 to 10p -HZM is now trying to raise an extra £150 million plus to complete the mine build.

Glencore is a shareholder in HZM and also has an offtake agreement in relation to the nickel sold from the HZM so might be take into consideration in determining their preferred outcome here.

Y

People such as Interactive Investor and Hargreaves Landsdown are not large investors.

Their holdings are the pooling of the total number of shares they administer on behalf of private investors

How can a company get its project costs so so wrong with the involvement of Glencore and Teck.

I thank my lucky stars I sold 95% of my holding circa 140p.

Something is not right here-who did the original costings,why were they so wrong and why is the CEO who oversaw this disaster still in post and if the project is so appealing why no new finance ?

Either Teck or Glencore will snap this up for a £1 and make large profits down the road

Thanks to everybody who provided information re the AGM.

Fingers (and everything else crossed ) that at least one of the projects produce a “handsome payday” for the company in the near future but like many I am not counting any chickens until any deal is “signed ,sealed and delivered”

Perhaps a sale other an asset may result in a special dividend? Was this mentioned/raised at the AGM -a few pence per share would be very very welcome

Karo is becoming a complete disaster and a noose around the company’s neck as PGM prices continue to dive -it seems to have been commenced following the “PGM bubble” post Covid.

What a shame profits are not being used to boast dividends,buyback shares and increase chrome production -(where longterm market indicators are favourable)-unless PGMs recover Karo appears to be no longer worth investing in-(palladium seems a spent item as electric vehicles replace ice vehicles and despite apparent large deficit in platinium supply the price shows no sign of recovering)

Would not make sense for any major sells with all the news incoming shortly.

10,450,000 shares at 6.5p -must be the “Shard mates rates” -same day as RNS can’t be a coincidence

Trouble is all this talk about sanctions against Russia does not apply to “critical metals” hence EU countries continue to finance Putin’s “special military operation” in Ukraine

From a Saudi or Chinese prospective it is probably of greater importance now than before to get their hands on a longterm supply of high quality iron ore-the Chinese are known for taking a longterm view and any investment plans are unlikely to be disrupted by the current regional conflict which history tells us always flares up now and again.

It is also interesting to note that the Chinese have not encouraged the Russia/Ukraine conflict and even Putin has indicated he does not want the situation around Israel to escalate.

There are just over 12.5 million warrants outstanding -just under 8 million at 4p and except for 750,000 the rest are well over 10p -so hardly material -

According to Johnson matthey rhodium now upto $5400 -hopefully Tharisa will benefit from the rise-