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I would just like to correct Rover
They didn’t call it right at all
It depends what kind of strategy you adopt as to whether they called it right.
Even a bafoon could have told you that the share price was going to fall.
If you look at what has actually happened,they have been lucky and a lot of retro looking.
I have just loaded listening to their drivel and not sold a share.
They are yet to call anything right and in fact the original administration point thus far has been utterly and totally wrong.
Happy to admit when they do call something right but so far long term investors here have just had to listen to this rubbish day in and day out and to repeat my other point
Sick in the head.
I was thinking that Karin could try TECK,ANGLO and JPM.
TECK were hugely involved here for a long time and could be persuaded to part with a few bob,maybe as MOU partner for Vermelho.Or Anglo for that matter.
Obviously Glencore may have their views on that but could equally well be outvoted if they in fact did not contribute fairly
They even pay them at weekends 😂
The assets and investment case are absolutely undeniable.
What none of us know is will get the funding and I think that it’s odds on that they will and the case against is literally getting weaker as time goes on
Https://www.statista.com/statistics/1173609/brazil-monthly-industrial-electricity-price/#:~:text=In%20March%202023%2C%20the%20industrial,Brazilian%20reals%20per%20megawatt%2Dhour.
Another thing that could kick it seriously higher in short quick time is if Karim finds new investors that will put debt in.
One or two announcements could in theory be made outside “the main package” announcement as there is no obligation to announce these inside it.
So we could get
1/ Further loans for working capital-sp shoots
2/New investor A commits to say $25-30 m debt-sp shoots further
3/New investor B commits to a further $25-30m debt-sp shoots even further
We could be way over 20p if this was the sequence of events
Finally the rest of the package with some equity component well above 20 p to reflect sp at that point and prospects.
Hey presto-there we have our rabbit and it’s totally possible depending on what options are open to them and what they actually want for the current equity.
Exciting times ahead.
It’s a really good thing that they are now out as they have sold out 16 million shares over the last 2 months which will have had a massive effect on the share price.
We now no longer have any large margin players on board and no weak hands amongst the larger holders.
Things are going to get tighter again from here on in (if the newsflow actually allows it for once)
If the next announcement re working capital raise is for debt again I can see us back up to 15p when shorts close out pdq
Just another point to chew over
At 16.5 k Nickel and mine life of 28 years the NPV of A1 and A2 without taking into account considerable FX advantages to Opex and after this current extra cost to complete will be around $900m.
So just ask yourself what happens if you add a further 12 years minelife with only sustaining capex.
I think we could well be looking at at least $1.3 B here all in even at 16.5 k per tonne
If you work for these guys just give them this phone number if they are interested
https://horizonteminerals.com/uk/en/contact/