Member Info for Rover62

The only people buying at any quantity would be shorts closing their accounts.

Don’t get sucked in by any rise.

Pub, yes you were right, so I do apologise, but, please show a bit empathy to those who have lost. It doesn’t matter what has gone before as a lot of people will be hurting.

For those who are thinking of buying DON’T.

This is now a trader’s share only.

After all this I must first offer apologies to Pub and Cont for calling this correct, we should have listened. Please don’t say we told you so.

I made my decision to hold in haste and now realise I should have absolutely thought more and exited.

There will be various amounts of losses which no one is happy to take.

I’m upset for all whatever your circumstances.

😡😡😡😡

😩😩😩😩😩😩

🤬🤬🤬🤬🤬🤬

-111,

Please just go away!

Un suspending RNS first thing tomorrow?

I know an AGM is required but they already have enough vote for it to pass. 😂😂😂😂

The good news is the lights are on a that they have actually produced enough gold to pay of the gold loan.

The director's subscription will come after accounts published and the directors subscription I’d later today. My take is that they will give the exchange the accounts first thing for scrutiny. Once verified an account RNS followed by a suspension related RNS followed by the Director RNS.

Cheese,

There has already been plenty of discussion on why this will remain a PLC. You can read back a on this chat for several months, but to save you a little effort here is the shortest of summaries.

La Mancha the largest shareholder does not deal in private companies. They will not sell their stack here cheaply.

The figure was taken directly from the Aug 23 presentation with the headline 20k/t.

Slide 11

https://horizonteminerals.com/news/en_20230829-corporate-presentation-august-2023.pdf

Mv01,

Unfortunately none of us will be able to come up with the new NPV figure, so it’s gut feeling, like the rest of the post. The A1 NVP was $1.13 billion back in Aug 23. With nickel at $20k/t with exchange rate of 1.25 $\£. So £750 million is just a pure approximation that I wouldn’t treat anything other than a guess.

For your second point if you consider repayment of debt part of the OPEX then yes it does change the NPV. Maybe up to $20 million. So in the spirit of gut feeling guess illustration not much.

Currently I wouldn’t defend anything in my post as I haven’t got a clue. 🤪🤪🤪

I’m just trying to present alternatives.

I would not trust any random tweet.

This, however, is from the company, so has some legitimacy.

The company should provide a proper official update.

There has been plenty of speculation either way of how this will pan out. Deal or no deal! No one will know until that RNS that tells us the future. However, fingered in the air, gut feeling without any scientific evidence I came up with a figure. It’s pure speculation, nonsense etc., etc., etc. If a deal is struck, whatever the deal in monetary terms I think between the cornerstones and new investors they will end up with a maximum of 90% of the company. This leaves the rest of us with 10%. I’ll give a bit of rationale behind this, liquidity. I believe this would be the minimum the cornerstones would want, ideally I’d think they’d want more like 30% to provide a more stable base. (Not too sure with that theory).

So at 10% what does that look like. Currently approximately 300 million shares counting all the hidden ones are accounted for. 50% currently retail, 150 million.

Therefore future shares in issue would be 1.5 billion. 1.2 billion new shares to be issued.

What is the future value of the company just considering A1 with 1.5 billion shares. NPV of £750 million by 1.5 billion shares is 50p.

This is where this all falls down.

If full equity of £600 million raised via 1.2 billion shares, they’d have to invest at 50p a share, absolutely no return whatsoever.

If equity of £300 million raised via 1.2 billion shares, they’d have to invest at 25p a share. Is a 100% gain enough with an upside of A2 and V?

Spike,

I did ask that people think deeply about this. You may need that coffee you eluded to.

So I’ll give you the answer.

The point I’m making is the company once the deal has been struck it will no longer be distressed and as Chess says there maybe more than one player having a look

Chess, I agree that whilst negotiations are ongoing there will be many interested parties looking, some just looking, some chancers with lowball offers and the serious players. The board at this stage will have dismissed the lookers and chancers, and will be negotiating hard with those remaining.

There will come a point where negotiations are concluded and final offers are made.

A General Meeting of the shareholders will have to be called to consult and vote on the board recommendations. I think the board will come with one, ‘take it or leave it’, this is the best we could get.

Thought for the day!

I’m going to state the obvious now, (which isn’t), but I’m sure a lot of people haven’t thought of the situation in this way, I didn’t.

The current company value is solely due to the perceived risk.

If a deal is done then that risk goes away. (Mostly).

So WHY should the new investor who is part of the deal not pay accordingly in line with the de-risked company future value, maybe with a little discount?

Please think deeply.

Be a take it or leave it deal

Currently I’ve not got a clue whether this will go bust or not, but it’s not looking good.

If a financial package is agreed it’ll be a take it or it deal. There will be no retail placing, no book building, it will be a case of them detailing what the total £s is to be invested by the cornerstones and new investors and how they are dividing the company between themselves. There is no point in thinking in terms of a share price as there is absolutely no way they can raise at these levels.

The scenario is that you’ve been approached as a potential new investor by the company. Before you get to see the prospectus you sign an NDA. You also at that point become privy to insider information. You can no longer trade in shares of the company. If you like what you see what are you willing to invest. It’ll be about the future not current.

This is a question all of us should ask.

So why did Glen, LM and O invest in Horizonte in the first place?

At the top of the list for most, will be to make a bit of money out of the vast potential the company had. A1, A2 and V. Oh, and talk of A3 and maybe V2. Oh and a possibility of being a FTSE100 company. How dreams crash and burn!

So why would Glen, LM and O invest in Horizonte now?

The only reason I can think of, is not to lose money. If they walk away now they have certainly lost. I dare say the potential is still there for them.

However, for us it’ll be crumbs at best.