Member Info for Rover62

Wasa,

I agree that suspension on 2nd October would have been the right thing to do. I don’t know what rules govern that. I don’t think the BOD predicted the SP fall as severe as it has been.

I also agree the value of the company for financial matters will be what’s been achieved and not the current MCAP.

Yes, it’s official, another really, really bad day in the office. There’s no sugar coating it, it’s bad, a real sh t show. Is there any positives? Sitting here after a day of reading this board and the forthright debate, reading and rereading the RNS. I believe the fear of uncertainty has driven the SP down yet again, but is it justified by the RNS? The RNS only gives an update on timescales for due diligence and financial decisions, and because of these, cost savings are required to keep the lights on. There is no suggestion that a financial solution will not be found. Is the SP now the problem? If the required funds were raised using the value of the company as its current MCAP, then yes. Given that as of tonight the MCAP is only £26 million. There has been endless discussions on this board today of what that could be, so shall not go through that all again, but only to say something creative needs to be found. To sum up my ramblings, I am fearful of the outcome due to the uncertainty, but today’s RNS hasn’t increased that any. What it has done, is to annoy me due to the reaction, as it makes solutions more difficult.

Https://www.londonstockexchange.com/news-article/GLEN/acquisition-77-of-teck-steelmaking-coal-business/16208014

I give up

I’ve was thinking about how the raise price would pan out for the cornerstones. SoI rattling them around my head and came up with the below. I’ve keep the figures simple in a relative illustration.

Assumptions

Current number of shares 300 million. Cornerstones each currently have 20% (60 million shares) retail 40%. Future value of the company £800 million. Equity raise of £100 million rest through other financial vehicles. Given each cornerstone gives £30 million and retail gets £10 million. SP after raise will initially reflect raise price.

I give two examples

Raise at 20p a share. (500 million shares)

New total number of shares in issue 800 million.

Each cornerstone gets 150 million new shares.

Total 210 million. New % share of company just over 25%.

Value after raise 210 million x 20p = £42 million.

Future value 210 million x (£800m / 800m shares) = £210 million

Raise at £1 a share. (100 million shares)

New total number of shares in issue 400 million.

Each cornerstone gets 30 million new shares.

Total 90 million. New % share of company just under 25%.

Value after raise 90 million x £1 = £90 million.

Future value 90 million x (£800m / 400m shares) = £180 million

Sorry for some reason double spaced. Not intentional

I’ve was thinking about how the raise price would pan out for the cornerstones.

So I rattling them around my head and came up with the below.

I’ve keep the figures simple in a relative illustration.

Assumptions

Current number of shares 300 million.

Cornerstones each currently have 20% (60 million shares) retail 40%.

Future value of the company £800 million.

Equity raise of £100 million rest through other financial vehicles.

Given each cornerstone gives £30 million and retail gets £10 million.

SP after raise will initially reflect raise price.

I give two examples

Raise at 20p a share. (500 million shares)

New total number of shares in issue 800 million.

Each cornerstone gets 150 million new shares.

Total 210 million. New % share of company just over 25%.

Value after raise 210 million x 20p = £42 million.

Future value 210 million x (£800m / 800m shares) = £210 million

Raise at £1 a share. (100 million shares)

New total number of shares in issue 400 million.

Each cornerstone gets 30 million new shares.

Total 90 million. New % share of company just under 25%.

Value after raise 90 million x £1 = £90 million.

Future value 90 million x (£800m / 400m shares) = £180 million

Td,

If no EV nickel then the current demand could remain static. Nickel price could remain static.

New low quartile producers could take advantage.

I’ve was thinking about how the raise price would pan out for the cornerstones.

So I rattling them around my head and came up with the below.

I’ve keep the figures simple in a relative illustration.

Assumptions

Current number of shares 300 million.

Cornerstones each currently have 20% (60 million shares) retail 40%.

Future value of the company £800 million.

Equity raise of £100 million rest through other financial vehicles.

Given each cornerstone gives £30 million and retail gets £10 million.

SP after raise will initially reflect raise price.

I give two examples

Raise at 20p a share. (500 million shares)

New total number of shares in issue 800 million.

Each cornerstone gets 150 million new shares.

Total 210 million. New % share of company just over 25%.

Value after raise 210 million x 20p = £42 million.

Future value 210 million x (£800m / 800m shares) = £210 million

Raise at £1 a share. (100 million shares)

New total number of shares in issue 400 million.

Each cornerstone gets 30 million new shares.

Total 90 million. New % share of company just under 25%.

Value after raise 90 million x £1 = £90 million.

Future value 90 million x (£800m / 400m shares) = £180 million

Remember A1 and A2 are for the stainless steel market.

They may produce some nickel matt in A2. They are looking at that in the FS.

John,

A small point.

A1 will be producing 30-35% FeNi.

What’s quoted for NPV is Ni equivalent of 14.5kt.

Use the filters tab above

Where is it?

I would have thought there would have been a RNS today as the the loan repayment was due.

For some outlandish speculation why not combine the current requirements for extra funding with the funding for A2. Lol

PP, apologies your right in your figures.

The question I have is who has bought these?

Upto date shareholders list

https://horizonteminerals.com/uk/en/significant_shareholders/

Preparing for some real news via RNS. Lol!

I thought this was interesting

https://www.linkedin.com/posts/daniel-machado-5a8b85167_essa-semana-me-despe%C3%A7o-da-horizonte-minerals-ugcPost-7126163918367932416-HSbg?utm_source=share&utm_medium=member_ios

I just wonder if BT could be so stupid as to reply knowing it could be used against him in a court of law, if as you say he steals the company, and the shareholders bring a class action lawsuit against him.

Just a wild outlandish thought, just to stir up a dull morning. Lol

Finally took 5he plunge to average down a little, two transactions of 50k and 100k shares.