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Morning folks, not nice to see the surprise go down.

What are your averages? I hold a chunky holding at 0.37p so hoping this comes good Q1 2021.

Patience is key!

'What totally backstops my position here for me is the finance director taking a substantial share position for the first time after many years - you can rely on these guys being risk averse.'

@tiburn - is there an RNS or an article on this please? I can't seem to find a record on it.

Good luck all - it's a waiting game!

@Tiburn - appreciate the informative and breakdown of your post. It goes to show the value of this chat forum when you have knowledgeable investors providing their input like this.

All the best.

Hi all, it's been a while since I've popped on this board, sad to see that we are falling back although I have an average of 0.36p.

In your expectations, what do we envisage the share price to be (with supporting justifications) once the PSC has been approved? My significant holding is currently showing a large paper loss!

Thanks to those who share their wisdom.

@VauxhallViva, I agree with wasa.

The development of the mine would be valued differently on the balance sheet and how the market perceives its value. The debt will of course be recorded as a liability on the balance sheet but at the same time, the mine should be recorded as an 'Asset in construction' on the balance sheet. The amounts spent on the production will be debited to a long-term asset account categorised as Construction Work-in-Progress. Construction Work-in-Progress is often reported as the last line within the balance sheet classification Property, Plant and Equipment. There will of course be no depreciation of the accumulated costs until the project is completed and the asset is placed into service. When the mine comes into production, it's accumulated costs will be removed from the Construction Work-in-Progress account and will be debited to the appropriate plant asset account.

Equally, market cap will be calculated by the share price and shares in circulation. Of course, this will be dependent on market sentiment.

What makes me confident about this share is that the projected NPV of the project is currently significantly higher than the current market cap!

Let's get this rolling.

I sent an email to HZM on the financing and received the following response:

The project finance process is progressing well. It is made up of a number of different tranches with all pieces progressing simultaneously. Some of the work streams have taken longer than anticipated due to the wider reaching effects of the Covid pandemic on the financial markets and on the ground in Brazil. However, the Company is pleased with progress to date with a number of key financing milestones reached, and advanced discussions are underway on other parts of the package. The Company will provide a formal update to the market in due course.

We’re also pleased to see the nickel price performing well, and the Company is well positioned to benefit from this as Araguaia moves towards start of construction.

That’s true, but the purpose of the CEO or Chairman is to increase the value in share price for shareholders. Given that the new CEO has a corporate finance background, I believe he will deliver on this. Furthermore, he has a strong team around him. We shall see...

A change at the top is always good for any company. Hopefully, a fresh pair of hands with new ways of working will help progress this company whilst at the same it’s great that continuity of Malcolm is still there during the handover.

The only way should be up albeit long term.

Good luck all.

@Steve - that is normal. Most graphs are automatically interlinked to share price sites so I wouldn't use that as a date of the article.

Any sort of credible article typically would have a date so that is why I am sceptical of what is written in the article or it may have been misunderstood by the interviewer.

https://www.weare121.com/121mininginvestment-london/client/horizonte-minerals/

It is interesting how the share price started declining as soon as the possible 6 month delay mentioned on the mining121 website. I even phoned the website who informed me that the authors are based in Hong Kong and they will check the date of the interview article. Surely it must have been in July.

Blue day tomorrow fingers crossed.

Looking at the article on weare121, there is no date on the interview. The article states '12/08 – Senior Debt FacilityMandate Secured for Araguaia Project and 17/08 – Publication of Inaugural Sustainability Report' as next events for investors which is August.

I am guessing the date of the interview must be July?

Thoughts?

Working in Africa or Asia, it’s normally traditional to meet face to face. Furthermore, this how business is operated and concluded in them countries. It’s normal, nothing unusual.

The purpose of this RNS is just to provide a timing update, nothing substantial from what we already know.

Business as usual.

Whenever I see the share price slipping or wish to buy on the dips, I just watch the following video to back my reasons on why I believe HZM will be a winner.

https://www.youtube.com/watch?v=4pvu2-c6Kt0

45,000 shares for me - planning to buy more.

Good luck all.

My average is 0.21p so I’m hoping I break even soon lol

“Based on the results so far, the decision has been made to run casing in the expectation of completing the well as a production well.“

Hi all, I don’t know much about the technicals of the oil exploration sector but what does ‘run casing’ mean?

Buys are definitely showing as sells!

@Luke2 - that's what I will be doing. In it for the long term.

Hopefully, you can upgrade your car when this hits your target price.