I think it's one or more going 'this is very cheap now for what it is'. I've thought that way before (and still do esp at current price) but no cash to benefit from this low price at present. Of course whether they're right or not time will tell I thought that at 2p and 1p more recently and bought....
>>Patience at 10 years from initial buys and hanging in there.
Baggy perfectly drinkable whiskies have matured in less time than you have held those shares (just to merge the threads again :)). I hope it works out for you!
A1 28yr LOM x 14.5kt = 400kt nickel
inventory on latest corp presentation 3m tonnes 'come and get our tonnes'
available to allocate - 2.6m tonnes, 60kt x 30yr LOM is still only 1.8m tonnes or 70% of contained resource
Glencore buyers/offtakers/shareholders
La Mancha / Orion major shareholders
Barcap tier 1 global investment bank appointed corporate broker
The downramping is almost amusing in its futility. Short of hugely ballsing up the build (at which point you probably wouldn't appoint Barclays) long term this is going one way. And short term - well the stock market is always what it is short term. It's why one should always 'buy the dip' :) GLA
Hi SJ, not a big (whisky) drinker myself but do dabble especially this time of year. Sadly beer is my downfall otherwise my moniker could be 'isarunner' or similar. On Horizonte then - in theory we should get an operational update in the next few weeks if it follows the pattern. On the latest corporate video still looked like there was plenty left to do but of course it could have been produced a good while ago. Still think something is a'brewin as it was a surprise to see the A2 dfs move back to later this year when it had quite a precise timeline on it. We shall see. We enter a very interesting quarter week after next....
If I'd just bought a little more of the £35 whiskey earlier this year I'd have outperformed both US treasuries and HZM but that's hindsight trading for you :) GLA - I think good things are afoot and the sp doesn't yet reflect what's coming....
>>Volume has completely dried up here-a paltry 3,240 shares as I write.Feels like something is going on.But what...
We've all run out of cash to buy more shares. I just got back from Tesco and the whiskey that used to cost £35 is now £50. Not good - that's another £15 less to buy Horizonte shares with, the difference would have got you around 11 shares a small amount for sure but multiply it by days x weeks x number of PI investors and it all adds up.
As to why Fidelity aren't trying to buy every share that anybody is prepared to sell, perhaps their clients are likewise baulking at the cost of other goods and not ploughing into funds....
but like you I do think 'things are afoot' and indeed we enter the very interesting stage of 'would be producer come and make us an offer we can't refuse....' or to use JM's words specifically 'compelling'....
Seeing a lot of negativity again, looks like a buy signal to me. Possibly (I can't see all the posts) Sunak, a PM who will be in power < 12 months remaining and presiding over < 1% of world pop reneging on a date 5yrs hence, by which time he will be long gone and someone else could be calling the shots. Or not.
Meanwhile, in other news, Horizonte appoint Barclays, a tier 1 global international investment bank, to oversee their share price diminishing, and their 4 million tonnes of proven nickel reserves waste away underground. Or, perhaps, not ;)
It reads like the gold produced is for Q3. But a tad ambiguous
This statement is concerning of course:
"the Board is therefore confident of obtaining an extension in the coming weeks, however it is noted that there can be no certainty as to the outcome of these discussions and that, if an extension cannot be agreed, security over the Company's primary assets could potentially be enforced."
the only protection really we've got as shareholders is the other big investors (like the people who invested in January this year) who would be wiped out if AIMS took the lot.
My other question is what is paying for opex right now. That's not a lot of gold to pay opex and attempt to repay the gold loan so where is cash coming from? The soon to be released accounts (which unfortunately will now be 9 months out of date?) won't reveal all.
>>250oz of gold.
which is hopefully not the 'full pace' at which mining is continuing - i.e. it would be better if the pace was higher.
>>I'm reliably informed the mining work is continuing, at full pace.
Informed by whom - if it's a reliable source then somebody close to the company - any chance they could inform all investors/shareholders - I believe the traditional mechanism for doing this is via the the Regulatory News Service (RNS)? Because the only publicly available information at the moment is that 8 2/3 months into the year we have produced 250oz of gold.
But by your own thesis most aim junior miners fail so you invested in something which you felt on the balance of probabilities therefore would fail but you would trade the swing on the news that the bod put out which you felt would help the sp short or mid term. When I realised the bod weren't genuine (on other stocks) I took the hit and moved on having bought them as investments and took the loss. Because you aren't prepared to do that you believe it will come 'better' if not 'good'. We will see. Like Dee I still believe it will come good failing that get sold and I get money back +/-.
And occasionally you get a 10 bagger. I know. You improve your chances by buying ahead of a commodity bull run where the assets will be in demand and most get sold, not developed. But knowing what you say, you bought - so clearly it was a trade (on some timeframe, maybe not a daytrade but a swingtrade or a momentum trade) and it didn't work out. My sympathies but I haven't attempted to do that (yet), I always buy to buy and hold and that's working out so so at the moment.
Agree - will take time, resigned to the long haul. It can get sold of course, upside will be (much) more limited but if graphite is that in demand and our BOD can't advance it it might be the best middle ground to realise value. I'd be annoyed as anyone else to wait 5 years for same money back or +/- when you take the risk we took you'd really like a multiple. It's people expecting multiples in short order I don't get - if it was that easy everyone would be rich, and I've never made a multiple in short order (well once, but it was a fluke) so it's not what I invest for. I did think I was smart buying Kabunga's shares but maybe he had the last laugh (or maybe with his mine in Ukraine, he didn't).
The challenge is this - and just to be clear I'm not all singing the praises here nor am I an uberbull. I'm licking my wounds on the current lack of progress and current lack of SP as everyone else is.
When BKT move forward (which I believe they will do), De Vries has made a really big speech on the long, expensive qualification process with Posco. They've spent a lot of time, a lot of money (which we don't have) doing it, and doing it in bulk. THis is echoed by someone I follow on Twitter that this is critical in Graphite development. The question people should be asking is WHEN BKT move forward, are we in a position to do likewise? Is our product proven, or can it be proven and if so how quickly - is that a 3 month job, is it a 3 year job, and does it cost $0.5m or $30m. I don't know the answer, so atmo I'm in the position that I believe we can progress when BKT progresses because the infrastructure is in place and our graphite is 'the same'. Maybe that's me being naive as an investor maybe it's not but when I read on graphite it's all about quality. It's not a metal you smelt, it's not how it works.
If someone knows the answer to the above, I'm all ears. And if everyone else invested without knowing the answer you took the same chance I took.
6 months or you get de-listed is my understanding. But you probably already knew that....
They should be able to update on the operational aspects during the suspension - the last RNS made that clear. Not holding my breath right now for progress on either front. Poor, is what it is. But it is a private company, in effect, with the shareholder structure so as long as the big players are happy the BOD can keep treating the small fry like -> small fry.
Well we're all agreed we want to see the share higher. What changed in 2020 - who knows - but the project didn't proceed (much) from those points. The point is we've seen that before - on my other main/early holding stock Horizonte we lost 3 (three) years due to Covid and the need to rise finance and then when the finance landed it was almost certainly on worse terms than the BOD wanted (and for a lot more money). Did the BOD mislead investors there? If so, not intentionally. This might be different it might not. It might be that the BOD have realised the best strategy is waiting and the thing that stands out for me is -> no (or almost no) graphite plays in Tanzania have taken off in that time and yet the resource is there, it is defined, and it is in demand (but not as in demand as it is about to be). So are ACP BOD charlatans? Everyone will have an opinion I give them the benefit of the doubt. For me, the clock starts ticking when we see others progress because - a HUGE damn is being built to supply hydro, railway sidings are going to be built to ship the graphite to Dar es Salaam, roads are going to be built to truck the graphite to the railway, and once these things are starting to be built, and our graphite is just sitting there, and Posco are going public with 'we want more' it is fair to ask our BOD the question -> why aren't we building it yet? GLA
But I'm guessing you both already know all that......and are here to dupe. Any chance you're part of the crew that took the opco out?
Nice try guys. It's just a shame we had to write down the entire ZAIM opco in Russia (worth some £10m on the balance sheet) and currently don't have an opco we are trading through. As such we're a cash shell figuring out what to do next, with not necessarily a lot of cash. That's from a current shareholder (me). So I'm not eagerly anticipating a strong trading update, personally, as to all intents and purposes we are not currently trading......
And yet....you don't sell. So you either keep your stake because you think the sp will go higher (therefore, you believe the BOD will deliver, negating your current argument) or, you keep it so you have some justification for the daily one liner slating the BOD. If it were me I'd just sell but hey ho.... if Matt Bull bashing is your favourite hobby each to their own. It just doesn't make you money that (unless you are short of course and talking it down :)
One final point I didn't mention which stood out for me. De Vries is absolutely praising the economics of the project - of course he has to do that in his position but it is a key point. Even after Tanzania takes the 50% cut (tax + royalty + free carry interest), on the gross production the revenue is 3 or 4x the production cost. This is world class in any mining - he compares it to gold where that would equate to a 'lowest cost' gold producer but obviously they also have the graphite in vast quantity of reserve and long mine life (we have a shorter mine life but plenty of unexplored area to expand at ACP).
The economics are what make these projects standout (40-60-100% IRR) and make the Tanzanian govt free carry relatively moot. And that's with current economics and current forecast graphite pricing, before the deficit kicks in. You can probably add another few 10% onto IRR in a strong deficit market as the commodity appreciates.
As I always said I will judge ACP by when the first big miners kick off in Tanzania - it's what happens after that that is important for this company because we were _never_ going to frontrun it.