If you would like to ask our webinar guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
One more thing that I would say about that interview is it makes it very obvious to all what a decent guy he is.
That is not a man who is out to deliberately shaft people.
He seems very much like an honest hard working man of integrity which is extremely positive for the company and all shareholders alike.
If this doesn’t work out well for any reason then I’m sure that we can all know that he did his best to be fair and honourable and will have bust his gut to try and make it work well.
I’m very impressed and reassured.
I think that the next interim funding RNS will be crucial to sentiment here.
Honestly,if we have another debt funded one I think that that will be very telling about the cornerstones position on trying to preserve their current equity and if we don’t but get equity,then the price set
ta
very interesting podcast
mj is clearly ****ed that he has a low grade bulk deposit highly leveraged to nickel price in this environment as he wants to raise capital.
the references to horizonte are largely factual and retrospective.
i feel that he just about managed to stop short of saying that there had been incompetence with the capex but he did a good job of not saying it.
the references to the bfs competency were also interesting.to be fair though,**** happened since 2018 on that front.
i don’t think that the bfs will have come up short on opex though which is what matters re calculating npv at current time.
the costs are clearly stated and current comparables are easily accessible.
in fact we know that one of the biggest sensitivities in the npv other than nickel price and recovery is the forex rate which currently is hugely adding to npv and not factored into my current calculations at all (i am just settling for it covering any increased energy and wage costs currently).
mjs comment about a market listing being worthless and private option being preferable to him was a breath hold moment in the room and i think even the interviewer was stunned there.
it was almost like why are you bothering wasting our time here if you just want to get capital to fill your own personal pockets.
i think there is an expression but i can’t remember how it finishes
one man’s greed is another man’s….. (i honestly can’t remember how it finishes).
good positivity about environment changing for raising capital from january onwards and also great positivity about nickel price coming out of bear market.
overall for horizonte as it stands today positive vibes recognising where we have come from.
Sorry that should have read 467 not 454
Well its at least another $100m for 17 vs 16.5
So we sit at NPV $1.1 B minimum here without what could remain to be large FX advantages and of course they will say that it’s still uninvestable.
Imagine the upside from $13m market cap
It’s more obvious than ever here that Contrarian and Publican are trying to erode confidence.
They have speculative bs arguments for everything positive even if the positive is staring them in the face.
They have an angle on it-I don’t know why but I can guess as my shorters post about ruining people’s lives and livelihoods was just too much-it’s true,that’s what shorting is,it’s never ever positive and about destruction for personal gain.
I can see risks and I can be disappointed too but also can still see huge potential if this funding gets sorted.
If I was short I would be closing out now as not much gain left for them anyway.
It’s all potential upside if it works.
I will remind everyone NPV without FX benefits over LOM for A1,A2 (and A3 when built) in a moment.
It’s currently sitting at $1B at 16.5k nickel after taking into account this extra cost to completion of 454.
I don’t think that they are going to have to sell it too hard now at 17k to raise the required funds.
Not being funny,but this is currently one of the world’s biggest undeveloped nickel mines.
The comparison is very sketchy at best other than how value destruction can occur.
The funding requirements are for a completely different product which is very much in demand at the bottom of its cycle.
How can you compare a Nickel mine with that
You are fighting hard to bring it publican
You are conveniently omitting the fact that a sub-committee is in place from hzm to assess fairness and give the go-ahead or not to any proposals.
Bet you haven’t seen anything like that before matey.
Either short or trying to get lower to go long again is my guess.
The omissions give you away.
Had enough now-styling it like before
Back on filter for being too transparent again
But admit that you could be right-we’ll see
So on that subject $121m was already lent but undrawn from the first raise and $54m is straight contingency which may or may not be used,so the real figure required for the build here now in terms of essential new expectation from the lenders is $279m if there is a clause that the contingency is repaid immediately if not used.
The tone of the RNS again as per the last that nothing has changed and financing is on track to be achieved in Q2.
Honestly why even bother saying that if there was a high chance that it wasn’t possible ?
It reads to me still that there is a fair chance that it will be possible to achieve it and it be announced within the next 5-6 weeks but there is perhaps a lower chance that it won’t be.That part was put in as a caveat and not as an expectation.
I’m personally expecting an equity raise at around 7p for the working capital required until full funding announcement or perhaps average of sp over last 3 months.
Publican,your absoluteness gives away your position.It would have been more subtle if you at least admitted some odds on.
Personally I think we are looking at something like 70/30 in favour.
These are some very clever people with a lot of connections and access to capital and I don’t expect them to give up on this without an extremely hard fight.
Cognitive dissonance Lawrence,having to justify one’s decisions as right and sensible so you don’t have to believe that you’re a stupid person.
That’s why you and I don’t sell-lol
You’re right,if Tony comes out with one more pos then it’ll be the first time that he swops places with publican on the filter,although currently both off as I’m curious.
I would agree with publican about suspension if I thought that yesterday’s figure was a complete surprise to the whole lot of them.
OF COURSE IT WASNT !
They have probably known this before the working capital raise and why it has been kept so hush hush.
It is doable but the problem could be how many “awkwards” do we have in there as publican describes Glencore.
I don’t even know if they could re-contract the offtake agreement to someone else like Trafigura etc and play real hardball if they had to.
I’m sure that there is a dispute going on and for us that isn’t a bad thing.
As I’ve said before the little man should matter to these guys as it has been our money that set them all up over 19 years with the opportunity that they have today
Neil-in short
Basic maths
Say 10 participants,45 each all debt and current debt restructured
Share price rockets
Brazilian bank,car manufacturer,royalties,convertibles,larger amounts from Orion and La Mancha,selling Vermelho in whole or part and of course lastly and my guess is it will be lastly,equity.
If they want or need to they can rocket the sp with a few flicks of the pen as described by someone below.
Remember our subcommittee and interests of all shareholders agreement is in place.
Honestly if you ask another question like this without thinking about it properly yourself I’m not even going to bother to answer.
The options are many
Tony,you are very negative now and still engaging on this board so does this smack of changing one’s borrowed shares position or just cognitive dissonance having closed out your longs ?
If the nickel price had to be 29k to mine it would have all been over months back and yes we do know that re-structuring the bank debt is part of the proposed deal