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Dai,

Closest recent example is probably Fusion antibodies (FAB) who had a similar SP fall & fundraise.

It did bounce and do 100% but as usual as soon as the volumes dropped off and lack of news the SP drifted back lower.

Those warrants at 0.5p are well in the money

Depends on how orderly the market is.

So one of them that you will need to be all over.

I do think it will see some serious volume tomorrow.

So all eyes on it.

If all that refinancing and warrants go ahead.

Over a billion NEW shares will be in circulation in addition to the 166m shares at present.

So disregard any posters claiming it will climb back to previous year highs as that won't happen now.

Dai,

I think what horult is saying is that T212 didn't offer him any size as he would have liked to buy more.

Had he used his bank broker he could have purchased £6k worth when he posted very easily and then sold 2hours later for around £10.2k and banked £4.2k profit.

T212 just didn't offer him the option of many shares.

Whereas any of the fee paying brokers (banks included) would have got him in and out quickly without any issues.

Fees are immaterial really as £4.2k profit banked for a couple of hours ain't too bad.

166.26milliom shares in issue

Today's volume: 196,63million

Don't often see anything like that.

That's the kinda thing I was referring too the other day when we were discussing brokers.

Sometimes you just need a broker to get you in quickly & out quickly in size and don't mind paying a fee to do so in a fast moving market.

I think some of the free brokers must be getting better but I think they work by pooling up orders and filling them from the marker at a larger spread.

It's not completely greenfield exploration as they have one drill program under their belts and some geo mags so should have been better able to define the target zones.

It was drilled years ago before they acquired it with a single drill hole scratching the top of a mineralisation zone at a depth of about 150m

WSBN did a 15 hole scout drill program last year and in fairness they hit mineralisation in every hole but the grades and widths didn't live up to the level of ramping that took the SP to 20p in expectations of bonanza grades and hitting the motherlode first time around.

That rarely happens with a first drill program unless you get really lucky.

It's high risk as all exploration plays are

I'm guessing you're seeing that it's not just the binary outcomes on drill results where the money can be made on the volatile junior explorers

I'm probably one off only a handful with a free ride over there having traded the majority of the swings..

Few other traders in there that will change direction with the wind

Most over there are severely underwater with double digit averages.

Hi Dai,

Been taking a break from the bb's today so only just seen your post.

No WSBN haven't had any of their news yet

Waiting on Gold assay results from Red Setter.

Then results from Drilling at Cotesloe.

RNS 12 October 2023

"Drilling Update for Red Setter and Cottesloe Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), announces that the Reverse Circulation ("RC") drilling program at its Red Setter project has been completed, with samples now en route to Intertek's laboratories, with assay results expected in the next 4-6 weeks."

You have to wonder how some of these cost increases can suddenly appear from nowhere?

The Woodsmith mine, now owned by Anglo found itself having to fund an additional 4billion to build their 40km long underground railway.

Mentioned it previously, but it's probably a very good thing that the Uk government didn't get involved as look at the HS2 mess.

That £4billion cost for the 40km long railway line would probably have jumped to £40billion if left to the UK Government to sort out. With all sorts of entities trousering billions at tax payers expense.

There are some amazing videos on YouTube on the Woodsmith mine tunnel railway.

Maybe the government should hand the HS2 contract to Anglo American to get them to build the line down from Leeds.

Probably save a fortune in the process.

And cut out all the middle men with their snouts in the trough.

Dai,

US$131 million of that ie a conditional debt facility.

As far as I'm aware they won't have met the conditions so won't be in a position to draw down on this facility.

Probably means that very soon they won't be able to meet their ongoing obligations and are operating at the mercy of their lenders and 'cornerstone investors' all whom have gone quiet.

Running out of cash by Xmas.

And thats with scaling things back.

Still no real clarity on what they need to finish the build.

Who would trust any figures given now anyway?

I totally agree Kev.

Always seem to happen to these mega mines on AIM.

It couldn't happen on the ASX as they would suspend a share. offering some element of capital protection for shareholders.

On AIM though, as we know. They don't suspend the share.

The price then tanks 80% then a further 50% then more etc etc.

Until some low ball offer is made by a global major who pick up the assets for nothing and then take it into production.

There is at least one poster with a sense of humour over on SXX who said that 5p was a good offer as of they hadn't sold the SP would have eventually ended up lower.

From what I can tell although Anglo American did indeed get the wooidsmith mine for pennies in the pound valuation.

Once the UK government had said no to supporting the project it would have been placing after placing for decades.

Imagine a £4billion placing RNS at 0.00000000324p. Lol

At least Anglo will eventually get it built and hopefully the production contributes millions to the UK tax coffers.

As this whole HZM situation reminds me of the infamous (SSX) Sirius Minerals. I thought I'd take a look to see of anyone is still posting over on that BB.

Unbelievably there are still posters over talking about shareholdet action etc.

Never gonna happen.

They accepted the 5p.

Won't be surprised If at some stage HZM holders receive a 'take it or leave it 5p offer'.

They will obviously vote it through aswell if the alternative is to lose the lot.

Never seen retail PI's be able to mobilise themselves effectively as collective in these scenarios to put up an alternative solution.

Especially when it's in relation to a part built mine.

There's a few well known retail punters that had significant amounts tucked up in HZM having made a packet on GGP and threw it into HZM thinking it was a "safe long term bet'

Some nursing some 6 figure losses now.

No laughing matter really.

Sadly this is playing out exactly as I expected

Horror zonte minerals ain't looking good.

Trying to tick up.

Not one I'd want to be holding overnight tho :-)

@Horult @Dai

Never a bad idea to take a profit and then reassess the situation from a stronger cash position

Good move

Bougouni Lithium Project Mineral Resource Update:

Total Resource increased to 31.9 Mt at 1.06% Li2O

Kodal Minerals, the mineral exploration and development company focused on lithium and gold assets in West Africa, announces a new JORC Mineral Resource estimate (MRE) for the Bougouni Lithium Project located in southern Mali ("Bougouni") of 31.9 million tonnes (Mt) at 1.06% Lithium Oxide (Li2O), an increase of over 40% from the previous Mineral Resource completed in 2019. The significant increase is specific to the Ngoualana and Boumou deposits following the drilling programmes completed in early 2023.