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That’s your opinion and your allowed to have it, but please don’t try to tell me I haven’t done my research, you don’t know me, my investing ethos or the work I’ve done, so please refrain from that type of comment.

Everyone has different opinions as to what is worth investing in, if everyone was right we’d all be multi millionaires, but that is not the case. By all means talk to me again in a couple of years and we’ll see how this share is getting on.

I’ve been trading for over 30 years and as long as you’ve fully done your background work into the company you’ve invested in and don’t jump in and out every 5 minutes then investing will on the whole be profitable. Certainly I’ve done very well with my long term holdings, that includes following the smart institution money, but each to his own.

That is entirely your point of view to take, personally I follow the money of institutions that have people way smarter than you or me working for them who know the project and people inside out.

Oh, and as for news I think that every single share I’ve invested in there are always people grumbling about the lack of news that companies provide, it’s one of those inevitable moans. I mean, we’ve cleared the ground, we’ve poured some concrete, we’ve laid the first brick? If you as an investor are happy with the background work you’ve done on the company, just let them get on and do the job, they’ll update when there is news worth sharing.

Sorry but I have to totally disagree with you on that.

There is absolutely no way La Mancha, Teck, Glencore and Orion, or the syndicate of banks providing $350m would have invested the sums they have if they had any doubts about the ability of Horizonte to be able to build the mine.

Yes the dilution was disappointing for lth for sure, but the ability of this small cap miner to be able to raise half a billion is simply staggering.

The news we’ve had since the placing was amazingly positive, the plant equipment they bought and saved 50m on, which is a huge chunk of their market cap, was incredibly positive!

More news will come, just be patient. If you don’t believe in the company, or can’t look at the long term picture, then there’s always the option to sell up and move on.

And Afritins’s share price has been flat in that period, even though they’ve announced production increase plans, by product production plans and consistently beating current production levels, doesn’t make much sense really does it? Only good news is it gives LTH’s like me an opportunity to add more which I will do at every opportunity I get free cash!

I really don’t understand this, how can you possibly buy millions of shares to close a short position that’s over 1% in size and the price does virtually nothing?
Sometimes, even though I’ve been investing for over 30 years, I still just can’t make sense of market mechanics.

I could understand the shorting down to the placement price but the latest short was taken out when in the low 6’s?

This isn’t the most liquid share in the world to be able to dump 20 odd million back into the market with no reaction, so not quite sure what they hope to gain from this trade?

In reply I’d like to point out a couple of things:

EUA are not selling the company, they are only selling certain assets of the company.

At the time of the raise they didn’t have a binding agreement so as a company you can’t depend on future possibles , of course the sale might not go through and you’d a very short sighted board of directors if you put all future plans on hold because nothing is guaranteed at that point in time. Yes, most of us hope the sale of assets happens, as I’m sure the board does, but the company need to continue to execute in the event this doesn’t happen otherwise it would be incredibly poor planning, no?

Now that the financing is fully out, it would be nice to see our directors putting their hands in their pockets at a time like this to show a little confidence, assuming that is that they don’t have any additional market changing news coming!

Good in terms of the progress being made, unfortunately bad in terms of shareholder dilution and the fact that it’s a closed placing and we’ve seen many times these flippers in action!

So TMS, what about the fact that EUA managed to raise $10m in august 2020 to a number of institutions at 22p and then in may another $20m at 26.5p

I’m not sure I can accept that these institutions did very little, if any, due diligence before parting with $30m which you seem to be suggesting?

So as an amateur in this field you’re saying their assets are pretty much worthless, but the experts that work for these institutions would appear to disagree with you?

To me this is all very odd, given the advanced position HZM is at.

I’d say that the 2 mining assets alone are currently worth far in excess of HZM’s market cap, which is quite honestly bonkers! It does give me confidence however to stay invested though as even if for some crazy reason financing doesn’t go though (and I absolutely don’t believe this will happen) there is significant value in the assets they own.

Interesting though for a sell of that size they got the market price.

Yes it was thanks Hector, but unfortunately having to transfer to shares could be tax nasty in comparison but hey, a profit’s a profit at the end of the day.

Hope you got a nice return too!

Hector, these aren’t CFD’s, these are spread bets.

The issue with some people having them open still is the size, I had well over a million shares as a spread bet, and I know I’m not the only one who had a sizeable position. There is no way I can close that kind of position in one go, it just has to be done over time, simple as that unfortunately.

Don’t forget that IG clients who are holding 100% covered spread bets on EUA have until 29th March to close all positions, which might create some short term selling pressure. Hopefully by next week though that selling pressure will ease and, if like myself, people are transferring funds to a share dealing account to re-buy the stock, it will hopefully create some extra buying pressure.

Since IG Index is only allowing closing trades on their leveraged options there has been some significant selling here which has led to downward pressure on the SP. Today I notice that it’s listed as 97% sells in IG. Hopefully once this clears selling pressure will ease up.

Does anyone know if other leveraged brokers have changed to sell only orders?

I think my take away on this is would an ii like Veles part with £8 million if there was a whiff of insider knowledge by Alexi, or if they didn’t think it was a sound investment they could make a decent return on?

I’m sure they’d have done some serious investigation into the company before investing a chunk like this, and that’s a big plus for me.

I owe a fair chunk of these and have for several years since they had the reverse takeover of Crosby capital.

Unfortunately, although they have huge potential with the assets they own they always seem to miss any positive news and it it’s starting to come across as a badly managed operation. I hope very much to be proved wrong, but I feel something has got to change at the top for this company to start getting the positive news flow everyone desires.

Yea, it's unfortunate it's gone quiet on the news front, but with the ongoing increasing sanctions on Russia it's a big headwind to battle against.
The next piece of news we're all waiting for is the survey, as they mentioned in the March update: "Sufficient interpretation of the relevant area from this phase is expected to be completed in Q3 2018 in order to allow for the positioning and drilling of the first Devonian exploration well on North Mokrous in Q4 2018." So an update is expected by the end of this month.
I'm still invested as I viewed this as a long term opportunity but I can understand others may not have the same patience.
Good luck whichever direction you take!