Member Info for Rover62

A written or oral defamatory statement or representation that conveys an unjustly unfavorable impression.

A statement or representation published without just cause and tending to expose another to public contempt.

Essentially, insider trading involves trading in a public company's stock by someone with non-public, material information about that stock. Insider trading is illegal.

If they were shmoozing potential investors last night I’d hazard a guess we won’t hear anything any time soon. They would after all have to get over the hangovers. 😂

Maybe just introducing the new guy!

Does that indicate that Orion will be stumping up some dosh!

For the JM Interview go to the thread view.

It was an interview from August 2020 so not really relevant for now.

A picture came to mind this morning of a vile monster who feeds off negativity, and the most powerful of that negativity is the one directed at it. The only way to deal with it is to starve it until it withers. I suggest putting that into practice.

Let’s have a flood of positivity and dream.

Stow,

Curiosity really.

It was following on from some exchange rate observations. Firstly I have no idea in what currency the banks lent the money to Horizonte in. Secondly I don’t know how Horizonte hedged this money. The line of thought is that all the financials are quoted in dollars. If 48% of the CAPEX costs are local currency then the fluctuations could be significant if not managed correctly. If the banks are releasing the money in dollars then $100 million buys 500 million Reals now rather than the 350 million Reals previously when the Feasibility Study was completed.

I was just trying to prompt some discussion to try and make sense of how this would be achieved.

Initially a couple of things I picked up from that is a figure of $250 million was being bandied about. The other was they couldn’t meet a deadline for some work before the rainy season and that partly explains the delay until March. Only my interpretation, which is a bit shaky.

It got me thinking what proportions of the project were costed in which currency.

For the CAPEX 48% costed on Brazilian Reals at 3.5 per US$.

Most of the build has been done when the exchange rate has been about 5 Reals per US$

https://horizonteminerals.com/news/20210401_HZM-Araguaia-Project-NI-43-101.pdf#page295

I’m here to save you from yourself. Not really! BUT I am.

Everyone on this chat has made their own decisions in their individual investments with the information they have chosen to gather. It is also their responsibility as to which information they give credence to. This chat should only be used as an informative discussion with absolutely no credence given to it until you yourself have verified what’s said through your own research. No one on this chat has any actual evidence of what’s going to happen. That’s all behind closed doors which are shut very tightly.

I, like a lot on here, have speculated about the potential outcomes. I choose to be positive, because like others I am in deep,however do recognise that ALL outcomes are still possible.

I write this to restore perspective. All any of use can do is be diligently in our research and believe in our convictions. Reevaluate as new information arrives. The only information that is available about the company finances is what the company chooses to share. You choose to believe it or not. Horizonte is not a two bit organisation that’s working in isolation, it has major investors and banks to inform.

The possible outcomes, without comment, are:-

Lose all thought the company going bust and being liquidated.

Funds raised by current management and mine built.

Someone with deep pockets comes in to buy the whole lot.

To save yourself, by that I mean your mental state, choose what you read, dismiss those posts by the midnight keyboard insomniac, and do not take the bait and respond. It will only embolden them.

About 2.3 million shares sold since 12th October. As you say small, but, will have had some impact.

Their current investment strategy extract.

Building on the group’s investment history, the Fund specialises in acquiring and managing significant minority stakes in mining companies with strong managerial and geological potential. The Fund aims to deliver transformational growth and returns through a concentrated portfolio of listed equities, with the ability to also acquire private assets.

https://lamancharesourcecapital.com/investment-strategy/

A more structured analysis of the nickel market.

https://investingnews.com/daily/resource-investing/base-metals-investing/nickel-investing/nickel-forecast/

First a bold statement! The mine will be built.

A few questions I’d like people to ponder.

Given the investment to date would the cornerstones realistically be willing to walk away by choice?

Another obvious statement. As the cornerstones between them own the majority of the company, they are integral to deciding what the funding package will entail.

Will La Mancha, Glencore and Orion want to preserve their investment?

It’s been done over and over the speculation on here what that funding package could be, and how the differing approaches could pan out.

The consensus seems to be that a package mostly comprised of dept would be best.

So for any remaining equity rise who would determine the number of shares and the price?

A bit of chicken and egg here. Does the free market determine price or shareholders, given the shareholders are the market?

It seems the market/shareholders determined the current share price. However, those shareholders were not the cornerstones and are in the minority.

So the real question for me is if the majority shareholders, the cornerstones, choose to issue equity at a given price, would the share price initially gravitate to that value? So if 20p, 50p or £1 would it go there?

Any thoughts on when we’ll have an update?

Athlete,

A few reasons for the cost increase other than what was in the RNS.

I remember someone saying that build materials in Brazil skyrocketed, especially concrete and steel, both of which Horizonte used vast amounts of. I remember that it was said concrete was 4 times as much. I’ve tried to find some historical data but it all behind paywalls.

The other is manpower costs.

Sorry full text

To de-risk the operation, the final detailed engineering work has added additional scope items linked to the major equipment packages, made several enhanced design changes from the original engineering study (including changes to the water abstraction pipeline design and water storage reservoir), and has identified the requirement for additional civil works and quantities. Additionally, changes have been required with selected suppliers who have not been able to deliver to the project timeframe, which has added further cost pressures.

The only official explanation given was in the 2nd October 2023 RNS, which read…

major equipment packages, made several enhanced design changes from the original engineering study (including changes to the water abstraction pipeline design and water storage reservoir), and has identified the requirement for additional civil works and quantities. Additionally, changes have been required with selected suppliers who have not been able to deliver to the project timeframe, which has added further cost pressures.

What would a deal by Glencore to pre pay $15,000 for the first 10kt?

That would really help. Calculators out! 😂

Gideon? No idea how that got there, it should have read…

…given dept…