Member Info for Rover62

Remember that the rainy season is almost upon them so no mine build progress until March next year. I was going to say ‘Plenty of time to sort thing out’, but not really!

Contrarian,
…and for the millionth time I’ll respond by saying that it is an incentive for the board.
Why else do companies use share options as they do.
…and I did say I would like to see them buy on the open market.

https://mobile.twitter.com/goldstoneres

Horizonte presenting.

https://horizonteminerals.com/uk/en/press-releases/2022/horizonte-minerals-participates-in-exposibram-2022/

Contrarian,
As for ESG I believe in the mid to long term this will be a fundamental factor in companies buying product.

Contrarian,
I too would have liked to see the directors buying on the open market, however, they are incentivised by options as below. Whether that’s enough is open to debate.

The Group has awarded new share options on 12 July 2022 (the “Award Date”) over 9,736,250 ordinary shares of £0.20 each in the capital of the Company to executives (PDMRs) and key personnel in the UK and Brazil under unapproved, standalone option agreements (the “Awards”). Each Award is exercisable in return for one ordinary share in the Company and will vest in three tranches on the 12-month, 18-month and 28-month anniversaries of the Award Date at a ratio of 25%, 25% and 50%, with exercise prices of £1.68, £1.72 and £1.76 for each one third of the Awards.

Philipa Varris Head of Sustainability presentation end of 1st December

https://minesandmoney.com/london/speaker/philipa-varris

I find the use of the False Colour filter the best to see the changes from one image to the next. A new image from today will be posted tomorrow.

It all very exciting.

Plus if MB can’t buy due to a closed period and knows something is in the pipeline that will take the SP above the warrant price the take up of the warrants maybe his last opportunity to get shares at the lowest price he can.

Sorry should have said the extracted from
https://horizonteminerals.com/news/en_20220815-q2-financial-statements-aim.pdf
Note 11 regarding CLN

Two important items about the CLN

At any time until the Maturity Date, the Noteholder may, at its option, convert the notes, partially or wholly, into an amount of ordinary shares up to the total amount outstanding under the Convertible Note divided by the Conversion Price. The Conversion Price is 125% of the Subscription Price of 0.07 pence (after share consolidation 1.40 pence converted to US$ at a rate of 1.3493). The Conversion Price is therefore $1.89.

After the fifth anniversary of the closing date, Horizonte shall have a one-time right to redeem the Convertible Notes, in whole, at 105% of the par value plus accrued and unpaid interest in cash if:
1. The thirty-business day VWAP of Horizonte shares exceeds 200% of the Conversion Price and the average daily liquidity of the Company’s shares (across all relevant exchanges) exceeds US$2.5 million per trading day over the prior 30 trading days; or
2. There is a change of control.

This is my last post on this board as I have sold out so have no financial interest.

DB,
If a company has $40 million in cash in the bank with no other assets or dept what do you think the MCAP would be?
I would suggest $40 million.
Pay $30 million out to shareholders the company has $10 million left.
What’s the MCAP?
I would suggest $10 million

Any other bistro maths you may invent.

Example
Share price on day before dividend is 2p
The dividend Is set that evening and paid out as capital return say 1.8p.
The value of the company is reduced by 1.8p per share.
The share price on day after will open at 0.2p

There is no date yet and will not be until the conditions are met and authorised.
Only then would a date be announced. A record of shareholders will be taken after the closing bell. The share will open the next day at a price minus the dividend.

Armadale capital (ACP). Graphite explorer in Tanzania.
52 week high of 6.35p now trading at sub 2p.
Fundamentals haven’t changed but due geopolitical circumstances and the fact they are waiting for the Tanzanian government to verify their cut has meant a slow walk down of the SP.
Due news at some point but when, that’s the question.
I also put a little in a gold mine in Ghana. Goldstone Resources (GRL)
Should have put more as they are 20% up on the day.

However my main holding is in a Brazilian nickel mine Horizonte Minerals. I am holding long on that with hope of dividends on production.

Sorry for the off topic but I was asked.

I too believe that the deal will go through and the be paid on time.
My rationale for selling is not rainbow chasing. (A bit, yes)
I had a million shares at an average of 1.61p, I sold at 1.45 so have lost £1600. If you take a max paper valuation of Amur at 2.45p for round figures that’s a £10000 miss of a possible gain.
As an investor I like long term opportunities. I’m currently invested in a share that’s just halved in value but has good fundamentals so I just wanted to take the opportunity on that share to average down. I didn’t want to miss the bottom. A gamble, yes, but better long term potential.

Hopefully bought at the bottom and topped up to average down. Total of 699011 shares over a number of transactions.
Looks like the MMs didn’t have quantity to sell.

After five years of investment here I’ve thrown in the towel. I only had a million left. However over time I’m at a small loss.
I just see better opportunities elsewhere.
Good luck to you all whatever you decide.

…..and then it goes down. Absolutely frustrating!

I thought we would have had the results by now, unless it’s going on and on.