Member Info for SlurmsMckenzie

I couldn't stand the heat so I'm out of the kitchen.

The sells you see today are mine (not much I didn't have a huge stake).

Given my recent performance the good news is it's probably the bottom and the only way from here is up for Danakali. My head is telling me the company is worth more and its likely Seamus will get a better price for the company than the current price, but my gut was nagging me though about this.

Good luck Jono (and anybody else reading), this really is one of the worlds best untapped resources of any kind. Depending on how it progressess I may be back in, but if history is anything to go by ,the spreads make dipping in and out uneconomical.

FWIW I came into HZM after the announcment of the engagement with the banks, and I'm continuing to top up from time to time, including today, however I might have "shot my bolt" early, buying at 6.7 today. No drama though. It's all good long term.

Could go private.

This line is interesting

"I can assure you that if obtaining the final development funds required on *sensible terms* was easy"

That suggests to me there's a few crappy options on the table.

Did he sign off with 5 smilies and a rocket emoji?

Just looking for clues here.

Thanks PI.

Sounds like they'd pulled one of those accounting tricks where the valued their assets too highly based on future values. I guess in the MOP space they need to be wary of people coming in to steal their lunch like with BHP and the huge Jansen mine.

We have slightly different concerns in we need the money to finish the job, then we're golden!

I'm now worried for my MOP investment (partially joking as with any commodity if youre in the bottom quartile of costs you should be fine).

What have they said? Any links? I thought it had finally turned a corner, if not for seasonal reasons.

Trendz
" has requested a short period of voluntary suspension of trading on ASX during which it expects to complete satisfaction of the conditions precedent to enable drawdown of the debt financing and to finalise arrangements for a capital raising as previously announced."

That line from the RNS makes me think that they might be trying to line up competition of the drawdown as well, so it's still that which might be taking time, rather than getting the money. My guess would be that this didn't totally come out of the blue for them so they would have had their feelers out for a bit regarding extra finance.

I don't think the raise will be pretty though, it's likely to be a very steep discount on the Aussie price of 48.c. I doubt the aim price will be considered when it comes to the placing.

Taken from a poster called sevo on the hot copper forum who whilst bearish is reliable (good to see some fellow lse posters on there)

"The West is suggesting a $16M currency hit and no associated capital blow out.
They also mention KLL and another blow to the fledgling WA SOP sector.
Also first production may be pushed out."

If this is the problem and just this, then its not the end of the world, although the companies silence in the UK is deafening.

The West, is the regional paper for Western Oz, I tried to hunt down the article but everything seems to be behind a pay wall.

Haha well honesty is the best policy, I could have sworn that I woke up to the announcement last time and it was in the middle of the night, I have an 18 month old and I used to check the aussie announcements quite a bit if I got up in the morning at 4am UK time. So my memory might be frazzled.

Miagi 7am sounds like the time of the UK rrns, not the announcement on asx.

Rumours going round that the problem is a actually down to currency movements between Aussie and US Dollar, no harm me posting I don't think as we'll know by opening tomorrow if thats BS

Really hope it isn't too bad.

That said I have a nagging feeling that last time they suspended the shares they let the market open before making the announcement.

Basically I don't know and have wasted everybodys time replying

Aus opens at 11 tonight in the past they've tended to make announcements after opening (possibly due to being in Perth) but realistically I'd expect something between 10 and 11 tonight.

I'm not sure how to phrase this but who even has the ability to dump that hard? Clearly a big seller and intuition tells me that's not their only s sale so where is the tr1.

Just find it puzzling

Thanks Spencer,

No idea who your source is but hopefully we get the funds Justin time

Does anybody know what the source is of that quote regarding approvals, great news if true, I'm on the hot copper boards and they're certainly not aware of that.

Can't wait to test the 'Contact Us' form.

What a 12 hours on the ARCM forum ;-)

https://twitter.com/ArcMinerals/status/1330813599976189957

Aerial photo of our diamond drill rig at Muswema which was confirmed as a high priority target following recent interpretation of soil data. Muswema drilling progressing very well, core sample pics to follow

"Obviously I can’t comment on specifics, but needless to say that engagement continues on several fronts including the debt side. Covid adds complication, but we remain very positive."

The full text. Ed McDermott has previously a few months ago said similar things I think it was "we are very confident of financing" or something similar.

But without wishing to ruin the party he says *including*, meaning there will be other facets to funding, possibly a cornerstone investor, some shares issued and royalties.

I think this is a great bet btw and good value at this price . I just don't want people getting dissapointed.

Looks more down to me now.

I suspect usual reasons, people want to go and chase what's hot etc.

We'll definitely get some news soon.

You can guarantee, that if I were to put a bid in now, or any other lowly bottom feeder without connections, the price would be 4.6

I'm no trader so excuse the terminology but If you zoom out to the 5 day chart (I check on google) it looks to be traded in a the same range and looks tightly bound. It's probably just the difference between sells and buys.