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Hazbeen. Very interested in your post re Indonesia. How would you translate this information into a nickel price forecast? It looks as though Araguaia will commence production before some of these new Indonesian mines but maybe 2025 on we could have a significant nickel surplus? Maybe this threat will hold back Glencore and others, Glencore may well think they have too much nickel exposure already? Could we see the nickel price fall back to $15,000? I guess that now HZM is substantially de-risked from an operational standpoint the nickel price forecast is the single biggest issue for all investors. Sadly the fact that Indonesia nickel production will most likely be an environmental catastrophe in the making is not going to deter their customers.

China is definitely single

So ten days ago the company says it has $200,000 in the bank. In October it said it had 120 engineers working on the project. Almost whatever scenario you look at the 10 day spend must exceed $200,000. I cannot see the company going beyond Friday without either announcing finance or administration. Looking at the SP the needle seems to be swinging towards administration. Sir!

On 26th October last year the company published an operational update. Tim George stated that there were now 120 engineers working on the project. If this was a true statement that must imply a monthly payroll of at least $1.0m, in which case the $200,000 cash they say they had last Friday must be gone. Interesting too the list of equipment they say they had placed orders for. Maybe the statement was just a little misleading?

Tony. Most of Angola’s power comes from hydro. All of Saltend’s power comes from gas, but there is a plan, just a plan, to switch the Saltend power station to 30% hydrogen by 2027. Whether this is likely is anyone’s guess.

China. Can you imagine how much better off you would be if you had listened to SP?!

Bankrupty. If you can get out of this with a loss of only 20% then that is a result.

Bankrupty. If you hold a stock and you think that the shorters have arrived then what do you do? Buy, hold or sell? ALK will follow Pensana down the drain, mark my words. I have posted over 300 warnings on the Pre BB, copped unbelievable abuse from people and only now, with the company teetering on the brink, have people finally smelt the coffee. ALK is a carbon copy of Pensana. A fantastic get rich quick scheme slickly packaged by Atherley. A scheme that will always be financed tomorrow. And don't bother throwing a rock at me!!

Mumbles. I have to admire you. Your deck chair has developed a very nasty lean and still you order another G & T! Is the 33p share price telling you anything? Do you see any flashing lights, any cause for concern? Is everyone panicking unneccesarily?

The Export Credit Insurance Corporation of South Africa (ECIC) is a self-sustained, state-owned national export credit agency. Established in 2001 to provide political and commercial risk insurance to South African exporters of capital goods and related services, our mission is to provide export credit and investment insurance solutions in support of South African capital goods and services by applying best practice risk management principles.

The ECIC provides insurance that enables South African exporters to offer their services and products on the international market. It has a particular focus on emerging markets in Africa that are considered too risky for conventional insurers.

Its overarching goal – and its mandate from the South African government as its sole shareholder – is to make South African exporters attractive to international buyers to attract foreign income, and stimulate domestic economic growth and create local jobs.

The ECIC’s various insurance products are formulated to protect all parties involved in cross-border projects, from the institutions that provide financing, to the foreign buyers, to the exporters themselves.

It is not uncommon for a single project to be linked to multiple ECIC policies covering both commercial risk (the risk that a buyer will not honour its contractually agreed payments for whatever reason) and political risk (the risk that a project fails due to the actions of the project’s host government).

Rareearther. The Friday announcement did not mention the $220m figure, the bank loan or the bond. That is my point. How could the company have omitted these critical details on Friday? Maybe before you yell rubbish you should read the RNS’s closely yourself?

The RNS on Friday talked about a possible investment by a mining house and a possible placement to an African fund. The RNS today talks about a full financing package including a bond, a loan from a bank and an investment. You could be forgiven for thinking these were from two different companies. It cannot have changed over the weekend. So is today’s RNS correcting the one on Friday? Do the two announcements relate to each other? What a shambles.

Sundrum, I wouldn’t disagree with you. In other words if they don’t call in the administrators this weekend or very early next that could only be because they have secured funding, even if that’s just 5 or 10m.

China you’re being dumb. You’ve held your shares for more than 12 months so you qualify for the lowest rate of CGT in Australia. The tax cannot, as you say, wipe out your profit, the rate is only 15%. One day in the future you would sell your shares and pay the 15% anyhow. So if you thought a big fall was coming you would be infinitely better off selling the shares and paying the tax. You need to read the company RNS closely. It does not say that finance was about to be finalised. It said it granted an exclusivity period to a mining house, Glencor would be a reasonable guess, who was looking at a potential investment. That exclusivity period has expired. You should be very concerned by that remark. If the investment was likely to be forthcoming the exclusivity period would have been extended. To me it looks like the investor has walked away and the only real possibility, and again from the wording it looks like a very slim one, is a potential small placement to some African fund. This is a very, very bleak situation. If, come tomorrow, the Board has been unable to secure a lifeline they have to call in the administrators. They are insolvent, they cannot meet their debts as they fall due. If they trade whilst insolvent the directors face personal liability. I imagine that over the weekend they have been reviewing their responsibilities with both their lawyers and their accountants. Forget about how many shareholders sold last Friday. Look at the facts. They are tucked neatly at the bottom of Friday’s RNS but are crystal clear, well not to you but to most people.

I think that’s a fair bet, I would go for that. What time frame?

Fk300. Are you being serious? I hope not for your sake.m

Fk300. I read the RNS. The company has no cash, agreed? It has no firm or reliable opportunity to raise any cash in the short term, agreed? It will have dozens of creditors, HMRC for payroll taxes, probably wages in a few weeks time, plus of course some biggies, agreed? If the company is not solvent the directors have to call in administrators. It’s not discretionary. It won’t be Yorkshire water tipping this over. The board has run this to the wire and failed. No doubt a weekend of frantic conversations with M & G and others pleading for a lifeline. Yes it’s possible but on the balance of probability you’d have to think this is the end of the line.

Eloro. I’ve dealt with 2 years of abuse. I can deal with the fact that they couldn’t handle my post. To be fair how must China and Sundrum feel now? It’s always tough to have your dream shattered, I know, I have been on the receiving end more than once. I hasten to add never with Atherley!

Hogsnipe you’ve lost the plot. The company has no cash in the bank and $10m of unpaid creditors. One of the creditors breaks ranks and it’s all over. I would expect the company to collapse into administration this weekend. If the shares were 3.5p I think that would be a gutsy buy. At some time you guys have to smell the coffee and realise how seismic this is. They have scoured the world for 2 years and nobody buys this. Green bond, the Mou with who, and endless list of empty promises. You can put lipstick on a pig. You need to dump what you have left and check out. Like I said when the sp was 150p, 110p, 80p, 60p, 40p. I really don’t get how people like you, Tony, mumbles, obviously educated and experienced, could be suckered by this. China, Sundrum, the reptile, a trio of halfwits for sure, but you???

If the 60 year old is a dog?