Member Info for Nthoftheriver

Appreciate others think this is the way the equity price will be established and agree that’s generally the way I’ve seen raises are done with the obligatory discount to the VWAP. But that’s because the company is usually desperate for monies to keep the lights on. But we’ve been told that we have a Cornerstone investor. The Debt raise has been done at some very good rates, yet they equity has to be done on the cheap. I.e 8p without the discount. I just don’t see it. Maybe wishful thinking on my part. Nickel is well over the base case for the DFS, projected to be higher. Why flood the market with cheap shares and dilute your holding as you’re already getting a good stake in Vermelho in the process. (If it’s say Teck as Cornerstone, can’t believe Glencore would just say oh yes please cheap shares for you, please dilute our holding and stake in Vermelho, we don’t want to take part in the equity raise).

Still thinking it’s going to be around 10p. Would like to think JM with our Financial Advisers whom have worked a great debt package would not push hard on the equity and off take element. Oh well not long to find out.

Well decided it’s time to add more to my original holding. Will look to add a bit more later. Got sub 8p so no complaints. Really not sure how it has dropped down here with the news. But long term this is only going one way.

Been here over 4.5yrs (Pre Vermelho) and feel a very happy holder. (Not a large holder like some on here, but happy with what I hold).

Good luck all holders. (New and old)

Great news indeed.

Well with those competitive rates think we will be getting the equity raise @ 10p or more now.
It’s been a “long train coming” (Bob Dylan)

Good luck all holders.

Sitting and watching.
(Painful hold at the moment. Average 29.8p)

Did my research, obviously would would like results to turn in cash flow. However, as there’s nothing more I can add to the conversation, its back to sitting on hands and await news.

Good luck all holders.

Getting interesting.

9.05-9.1p are they going to hold it back with more large sells.

I think Teck is a good possibility for the Strategic Investor (They do have a representative on our board). However, I feel that as they already hold 12.36% of HZM, it means they would be in danger of exceeding the 30% rule without either having a high strike price for the new shares or allow other parties to also take a portion of the equity raise.

So on the whole you could get Teck (Strategic Investor), Glencore & possibly Orion also taking shares in the equity raise. (Ideally at a high strike price too ??)

Also tend to feel Glencore would be a favourite for heading up on the off take side, as they have the marketing arm of their Biz.

All fun to speculate and am probably completely wrong, lol. Hopefully not long to go for the next news.

Good luck all holders.

Just picking up on this from Wasa,

- will the terms of the debt make an impact on SP? Probably not?
- we know the debt is 'a given' or the ECA wouldn't have signed. So tranche B is already priced in

I’m sure the recent run up in price can account for a lot but not sure it’s at all near fair value

My take is that Araguia P1 is not even 1/4 of proposed development potential of HZM. (Araguia 1&2, Vermelho 1&2, which is cut down from Vale. Option then add in Serra DT).

Tranche A sent out a statement to the investment community, HZM is going to be a miner.

Tranche B provides the assurance needed that big banks back the project.

Equity & Offtakes signal that institutional investors should get in, we have moved out of the Orphan period.

Will tranche B news cause further upside. Think so, personally think markets will know where this is going and will start to price in real potential.

Anyways not long to find out.

Not sure it’s fair to say JM is buying time with the Tranche A news and stating Tranche B news due towards the end of the month.

Nickel is well over the DFS base case and projected to be higher in next couple of years by industry analysts and big miners, hard to figure why getting equity will take along time. I’m sure discussions with various parties has been on going for a while. Debtors will be fully briefed on progress I’m sure.

As for Offtake agreements, those parties will be chomping at the bit to get things signed off, if one takes a look at the depleting Nickel held at exchanges. Don’t think we need to put out the begging bowl. News will come and I tend to believe it will be favourable. JM always maintained that this was the easy part.

As had been said news flow will come out over the coming months as a consequence of actions in the next few weeks. (Construction orders, site preparation works, additional approvals, construction and delivery timelines etc).

In the meantime we have a major derisking hurdle crossed. Those institutions/funds interested in the sector will now be able to buy in. Sure PIs will sell some shares, but I personally doubt it’s enough to satisfy demand from institutional investors without the price rising to entice sellers.

If, in addition news on Vermelho is forth coming, well I’m sure it might help the SP a bit.

Anyways good luck all holders.

I’m also of the opinion the Strategic Investor is a miner. The big concern early on for me was dilution of our investment to get Araguaia off and running. Nickel is around $19 - 20K, so the that has eased that concern. However, I’ve also worried that we have apparently spent little time bugging up Vermelho. If we give away too much in equity the current shareholders also give a lot of Vermelho away too. A Strategic partner I hope will see the bigger picture and Value us accordingly.

Interesting thought Wasa, noticed that point (Strategic Investor) too and the fact he didn’t mention Equity raise.

Sometimes I over read into things said and so not going to speculate too much, but boy is getting exciting now. Been a long haul to get this far.

Araguaia phase 1 is only 25% of the potential Araguaia & Vermelho. Indeed Vermelho Is a knocked down version of what Vale put together in their plan.

Good luck all holders.

Looks like they have issued a load more shares to buy in the Market. Seems to have lit up the sector. Might need to buy some more GCL on Monday.

Took a small position this morning @ 51.5p.

Not sure if it will drop back much to allow me to add more, but looking to add when some cash comes free next week.

Looked at Yellow Cake, but the RSI suggested it is a bit too hot. GLC give a broader spread bar the 22% in Nexgen.

Not much too add so back to watching and reading up more.

Can’t recall who has the table of a number of us predicting/guessing what the SP would be on the equity raise, I had from recollection around 10p. That was based on JM saying the Royalty deal done with Orion was equivalent to an SP of 10p . Will it be 10p, no idea. Certainly feel with Nickel well over our Figures for production I’m still hoping it will be near it.

The reality is once we sort finance out it seriously de-risks the project. In addition you can start to consider Vermelho & Serra DT Assets. Those have really zero value considered in the SP (I feel personally). The mine @ $20K nickel should be throwing off money and payback of the Stage 1 costs will be a lot faster or you could ramp up to build to stage 2, no doubts with a lot more favourable costs. As the market is supposedly priced on future potential can’t see why the price might not be north of 12-15p very quickly after Finance is sorted. Certainly by the time we are in production. In addition I’m sure the board will also put some serious time into Vermelho via a JV or not.

Good luck all holders.

I think if one believes that Nickel price will be in excess of $24K by the time we are mining phase 1 then the free cash flow will be mental, not to mention the value applied that can be applied to Stage 2 plus Vermelho & Serra do Tapa will be very pleasing indeed.

That’s a bit worrying then if the banks still not willing to sign off. Considering we have Endeavour Finance working for us, they clearly not carrying out their best endeavours, lol.

Also with Nickel well above our our Biz model ($16K) let alone our C1 costs. If the banks can’t see a way to lend monies to a Tier 1 asset now then when.

Hopefully this is just a matter of a few minor adjustments to clauses etc.

Fetid read final lol

Morning all, don’t post much nowadays as nothing useful or new to add in general. However, the only bit of yesterday’s RNS that was meaningful to me was the Reiteration of the Finance by Q3. Now I know JM has dashed our hopes a fair bit, but as Wasa says we really must be there and it’s unforgivable if we see a revised date now.

So I’m chipper we are nearly there and the next few years should be very profitable. Than said I await the fetid the financial package and delivery timetable to establish where i trim/derisk my holding

Good luck all holders

A lot better presentation and impression of confidence in the product roll out.

I suppose the only bit I was hoping for was more detail on the marketing aspects of the products. Hopefully the new market director is working on something that will let us see the Company profile being projected to a broader public and not just industry specific.

Well looks like another exciting day. Can see just over 800K shares or around £220K. Gosh hardly worth all the debating on the SP.

Back to watching paint dry.

*Existing Holders