Member Info for wasarunner

I assumed you meant the Senate win/Biden btw not company specific news......

True, thought the world would have moved on EV and nickel without the US but it does still remain the power, and for now at least, the $ is still significant (lets face it, our commodity is valued in it). One day we'll be pricing nickel in bitcoins, as I write it's around 0.4 bitcoins a tonne!

They get a good return for sure, I did the maths a while back can't remember but they look for multiples, maybe 5-10x ROI depending on the stage they invest at.

Of course, they are prepared for lower return with less risk. Probably when they put money on the table September '19 they were confident but other pieces weren't there yet. Now, for example, you'd be pretty certain putting cash on table for equity when you see the banks sitting pretty with $325m to loan? You'd take a lower multiple hence I'd expect better terms, for Horizonte. On the $25m Orion must have been prepared to lose it if necessary. So 10p equivalent SP for their royalty was in effect a 'discounted price'!

Fun and games! Must admit I didn't see a new high out of the blocks in the first week coming. It's a good job I don't try to trade these moves, I'd be rubbish at it.....

10p will be an interesting level. I'm sure we'll test it soon. I think it is interesting for at least 2 reasons:
- £150m mcap is a kind of level.
- double digits
It will come down to whether peeps think at that level what dilution will give what eventual mcap etc. I'm comfortable you'll still double your money on financing from that level (in due course, maybe not on day 1) so for me still a clear buy level but will others still think that, and if so how much above 10p will they be prepared to pay pre financing? Find out soon I expect....

https://www.bbc.co.uk/news/technology-55578403

yahoo saying 8.6 close if that's confirmed it is the highest closing price, with the exception of 01/09/20 (8.76p), since 10/04/13 (8.875p).
That is 2021 off to a flyer then.

ii - I only tried briefly though to see what the MMs would take - no actual intention of selling. Normally I find ii pretty good.

there was me boasting to my mate how well Horizonte doing today and how EUA stagnating he should have made the switch and I check over and they're taking off too...... looks like nickel might not be the only commodity riser.

I'm not interested in the selling price usually I'm interested to see if there is a buyer about or what's causing the moves, as I don't have or bother with L2. In the past if I could get a big quote for a sell it told me someone wants them. It's rare on Horizonte through my broker I haven't been able to get a quote to sell, at least, 100k shares (or buy for that matter).

Either which way today is a good day - it's pretty clear the Senate win is significant for us here and commodities specifically and everything is pointing in the right direction.

Right back to work now while I still have to do this job, catch you all later. GLA

interesting though isn't it, liquidity is quite low here. And if people want in, and if people aren't selling, well, it will go one way.....

my broker must be furloughed....

Can't get a sell quote for more than a grand. Any ideas - does it mean too much selling? I would have thought if there's a background buyer they would take it? I haven't got cash in account to see how many they would let me buy.

>>14p unrisked
Sorry risked! pre finance...

14p unrisked, might we see that pre financing I wonder.

https://www.proactiveinvestors.co.uk/companies/news/928973/horizonte-minerals-a-buy-for-peel-hunt-after-broker-starts-coverage-928973.html

With a bit of FOMO could be, could be. Exciting!

8.76p is the closing high since 2013. Suspect we might close below it today but feels like momentum here now, just a matter of time.

Must be cheaper (and easier) to build both RKEFs at the same time than stagger the build. For e.g. - if you have a working mine and you're adding an RKEF alongside it, it has to be hard having the mother of all construction sites alongside an operating mine without disrupting mining operations. Just build both from the off I say and be done with it 29kt/yr. But it's easy to say that sitting here in my chair they do need the circa $640m to do it.

Flavour, if your hunch is right and we get a deal which incorporates Stage 2 AND Vermelho in the same deal: I'll eat my SP forecast when that happens because it'll clearly be wrong! I hope you're right, it would be quite spectacular.

Yeah it's a bit vague on that one:

"All figures below represent this combined production of stage 1 for 3 years followed by the enlarged production for the remainder of the Life of Mine."

and "The Stage 2 expansion, assumed in year 3, supports a 26-year mine life "

It reads like you start building it in year 3 and finish building it in year 3 and therefore Stage 2 produces for 26 years where Stage 1 produces for 28 years and they end production in the same year. Presumably once the (current cut-off ore) is below a threshold it isn't suitable for line 1 or line 2.

Seems unlikely you would build it within a year though so maybe this is not determined.

Either way I'm encouraged that capex requirement for Stage 2 is modest (relative to profit at decent nickel price) which is of course how it raises the IRR of the project substantially. Which means it will get funded - one way or another - and if it through increased FCF from increased profitability of Stage 1 at a high nickel price so be it.

24/04/2013 8.125 8.125 8 8 8
01/09/2020 7.75 8.956 7.8 8.76 8.76
02/09/2020 8.75 8.9 7.62 8.1 8.1
04/01/2021 7.3 8.332 7.264 8 8
06/01/2021 8 8.4 7.94 8.15 8.15

This is from yahoo finance data I assume reliable - We've closed at or above 8p on 5 days back to 24/04/2013 and two of them were this year. I'm no chartist but presumably a close above the 01/09/20 high will be a good thing. Feels like when, not if.

Yes they've allowed for it in the mine plan so how long do you reckon to add the RKEF? 1 year? I was using 2 years as 'worst case'.