Member Info for TrickyDicky2

I wouldn't get to fixated on Canada as some sort of promised land. Take a look a Pure Gold. Hyped by management most of whom sold large chunks of shares before it all collapsed. Touted as the next big think in gold mining with spectacular grades and big names on the share register. It all turned out to be smoke and mirrors.

That's mining for you.

TDT

OilyRags

If I were JM I'd be saying the same thing at every and any mining conference I set foot in.

When the name of at least one of these "interested parties" is made public that's when it's game on.

TDT

OilyRags

I think Orion and La Mancha are more than likely going to share your hope that there is more than one party interested in Horizonte. These guys, just like the rest of us, will be looking to squeeze as much out of this as possible.

TDT

I prefer the TSX to AIM today. Currently CAD$2.55 (£1.52).

TDT

Not much we don't already know.

https://investingnews.com/daily/resource-investing/base-metals-investing/nickel-investing/nickel-price-update/

TDT

“Global nickel supply last year was 2.6 million tonnes — 1.6 million tonnes of that was China and Indonesia, the rest of the world was a million, and Russia was 20 percent of that.”

https://investingnews.com/nickel-supply-north-america/

It will be an awful lot easier in South America.

TDT

Stocks of Class 1 nickel in the LME are up by almost 10% over the last 2 weeks at the same time as the price of nickel decides to go on a run up. That's not the way it's supposed to go although having said that there's usually a bit of a time lag until things sort themselves out. We will either see the price come off the boil or stocks in the LME start to fall. Then again its fickle nickel so who knows whats going to happen.

TDT

This bit is particularly reassuring.

"This important milestone unlocks the balance of the funding required to complete construction, commissioning and ramp-up at Horizonte’s 100%-owned Araguaia Nickel Project in Brazil, where construction is underway and progress remains on schedule."

TDT

... gone into hyper drive today. The Telegram group must be working overtime at the moment.

TDT

A share consolidation is perfectly possible but I'm not so sure a placing to raise funds will be needed. The 200m additional shares to cement an RTO and the $10m+ left in the bank after the divi payment to prove up and develop the new project. That's how I'm expecting to see this play out but who knows. We'll just have to wait and see.

TDT

maestro1

Agreed.

TDT

This idea of a potential share issue before disposal of KM is a myth. There is nothing out there to suggest they're going to do this. On top of that, if it were proposed then despite the poor turnout at the AGM yesterday, I'd fully expect enough PIs to vote for an EGM and for RY to be given the order of the boot.

As for a consolidation of say 1 for 10 for example it would reduce the shares in issue down to 139,287,231 and the recently authorised share allotment down to 20m. No need for a new share authorisation since we've already given the BOD authority to issue 200m. A consolidation would simply reduce that by the chosen ratio.

TDT

maestro1

I suspect the additional 200m shares approved today will be used to acquire a "project" and the monies left in the bank used to prove it up to JORC or NI43-101 standard. That would make sense to me but that's just a guess on my part.

TDT

maestro1

You might not be familiar with the sentiment behind the word "hopefully" but I'm fairly certain that "sure" isn't it.

TDT

24,892,720 or 1.8% of the shares in issue voted. Seems like 98.2% couldn't be arzed. Those who could be bothered have seen fit to pass all 5 resolutions which, given current circumstances, is IMO the best possible outcome. It's now up to Robin Young to close the deal that's currently on the table which, hopefully, will be done before Christmas.

TDT

TDT

"All resolutions were duly passed......"

TDT

Woodster5

"....reputable banks will not finance projects that do not tick all the esg boxes."

China has 80% of the battery market and financed nickel mining and processing in Indonesia which accounts for 30% of the global market. Are Chinese banks any less reputable than their western counter parts? Are banks, in fact, reputable? I don't think Chinese banks give a monkey's chuff if ESG is complied with or not. The CCP is driven by other considerations and ESG is most certainly not one of them. As for western banks they are driven by profit. If they had any sort of moral compass at all the 2008 global financial crisis wouldn't have happened.

The big western mining companies have been embroiled in endless bribery and kick-back scandals for years and that's despite the draconian penalties contained in the FCPA. That hasn't stopped western banks from funding these companies.

https://www.sfo.gov.uk/2022/11/03/glencore-energy-uk-ltd-will-pay-280965092-95-million-over-400-million-usd-after-an-sfo-investigation-revealed-it-paid-us-29-million-in-bribes-to-gain-preferential-access-to-oil-in-africa/#:~:text=Glencore%20pleaded%20guilty%20in%20June,profits%20in%20five%20African%20countries.

https://www.ft.com/content/66aeb1b9-7f7a-4713-866c-c756d82bf3c5

https://www.sec.gov/news/press-release/2022-72

https://www.dw.com/en/living-in-fear-the-corporate-staff-exposed-to-corruption-by-their-employers/a-62672634

The SEC's damning report on Vale's Brumadinho dam disaster illustrates how miners view ESG. Has that prevented banks from financing Vale?

Horizonte being in the lowest cost quartile, IMO, is what counts here. ESG compliance is just a nice to have.

TDT

craigieboy1

"The Hydro power for Araguaia is a golden ticket really."

I think Horizonte's golden ticket is being in the lowest cost quartile.

ESG is a nice to have bolt on at the moment. With Musk agreeing to buy $5B worth of nickel over the next 5 yeas from Indonesia and justifying doing so because he's not doing the "dirty" job of mining and processing what he buys is an indication of how readily/easily ESG is side stepped.

https://fortune.com/2022/08/11/tesla-elon-musk-nickel-indonesia-deal-jokowi-tsingshan/

The desire to carve out a dominant position in the market, whether it be in nickel mining/processing, battery manufacture or EV production is driven by one thing, cost, everything else comes a poor second.

TDT

"The markets can't predict another black swan event......"

With Indonesia producing 30% of the world's nickel, nearly all of it from Sulawesi, you wouldn't best against a black swan there.

https://www.theguardian.com/world/2022/dec/03/indonesian-island-java-earthquake-banjar-cianjur

TDT

Let the organised ramping begin.

TDT