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Give it a rest keith and karl.

There was never anything right here, just a lot of smoke and mirrors and an overuse of the term “world renowned”.

Shhh now paul.

Matthieson is a wrong’un, he proved his true colours publicly, now he’s getting his pants pulled down. Fully deserved, just feel a wee bit sorry for the punters invested in this basket case. It’s game over, the “new sheriff” didn’t last long…awful man.

couldn’t happen to a nicer bloke. awful ****.

You t1t

What an absolutely ghastly man matthieson is.

Who could have predicted that.

Sydneysideline’s gone quiet…

So you’re down 25% on your first day, decent start.

What part of china are you from keith?

Absolute fantasy - so Kwasi Kwarteng wasn’t actually there and was a blow up doll? You’ve been in it for years and only just decided to post today? Jog on pal.

Nothing further to add.

Or should I say, you’re embarrassing yourself “again” Peter.

There are binding MOUs and non binding MOUs.

A binding MOU creates legally enforceable obligations, while a non-binding MOU does not. A binding MOU obligates parties to fulfill the terms. If it is a non-binding MOU it must be stated, otherwise it is binding. Do some DD on legal terms Smartpunter. You’re embarrassing yourself.

Been quite the ride. Yep nothing as satisfying as seeing a company go from an idea to production, when you backed it from idea stage!

Horizonte underestimated costs by 50% and couldn’t secure further funding, it was totally mismanaged. It also wasn’t in a strategic asset, you can go elsewhere to source nickel. Pensana’s construction is on time and on budget, it is also a far more simple prospect, they literally have to scoop it out of the ground. The strip ratio is 0.25:1 rather than 2:1 at Araguaia. There are plenty of things that can go wrong with mine construction, hence you do the work and see how complex the operation is and its likelihood to face material problems. Pensana’s project is simple, the CEO jokingly compares it more to gardening than actual mining. Around 90% of the equipment has been procured. There are risks, but you need to gauge how material they are. In pensana’s case they are low relative to other mine builds. Pensana is not Horizonte.

Pleasure Hogsnipe - stocks held as current assets can’t pay down debt, cash can. Cash cannot vary in value, when held in the same currency as the debt, equities obviously can. The cash injection is subject to the deal going ahead, the deal going ahead is subject to them getting back within borrowing limits, so you can see the urgency.

They’ve asked for a temporary suspension of limits until october 31st, so will be scrambling to get cash where they can ahead of it.

Hogsnipe - Wood group are not looking to paydown $1.6bn, sidara have agreed to take this debt pile on. They are looking to get back within borrowing limits, so every £1m counts, especially £7m. If they do not get back within limits the deal is off. So they are keen to liquidise what they can to get back within their limits.

See you sub 1p james, shouldn’t be that long.