Member Info for wasarunner

They can have more of my business at 7p, then next at the 20-25p mark. So I suggest they get moving the SP because they ain't getting much business from me at 2p.

Wily these MMs. They've got to make a living too I suppose :)

20-Mar-20 08:22:51 1.55 68,590 Sell* 1.50 1.80 1,063 O
20-Mar-20 08:21:01 1.797 13,581 Buy* 1.50 1.80 244.05

Wow - I make that a 15% spread! Zero liquidity here.

Orion spent a smidgeon under current mcap for 2.25% of Horizonte (if we consider all of Horizonte to be Araguaia Stage 1).

So either we are worth roughly 50x todays sp at some point in the future, or they got it wrong. Given that Orion expect to make money and didn't buy for breakeven, I'm working with the case that we are stupidly, ludicrously undervalued at current price. Be interesting if we see a cheeky bid - it could happen. The vultures circle when they see wounded prey!

Realistically this is a juggling act between building out the pre-project at the right rate to hit build start. If the virus has affected build start date the prep work rate may need to slow down to coincide and not cost more than necessary. We dont know how far they got and how far finance is.

Harkin, imo only (we havent had specific update on this yet from the company) they will have spent some building out a team under pedro rodriguez. If you can build a $1bn mine (on his cv) he isnt going to be cheap and presumably cant oversee the whole build single handed so needs a team. My question really is, how much team have they hired, how much is the run rate, and how soon will they have finance to build the mine. If it a team of 5, probably not a problem. Team of 50, thats going to start racking up. And we dont know what, if anything else, has been spent on prepararory works. All this we would expect an update on in due courae with or without an update on financing progress I think.

119,646 of my HZM are in paper profit
20,722,491 of my HZM are in paper loss

staying positive - the only way from this position is up :) (technically of course, not, but as good as!)

Harryparaglider - agreed, IMO the only thing they need to carefully manage is cash/team build. If they don't think they'll get the finance for a longer while (year or two say) for the build, they have to throttle the team build - no point having a big expensive engineering team sitting around waiting for an ecomonic upturn.

Other than that some had concerns that the Orion money might be ringfenced (so eg. can't be used for general overheads, has to be used for specific engineering for Araguaia) therefore might not be available just to run the company through this period. For me the latest RNS alleviates such concerns, it is fairly unambiguous - we have the cash to get through this.

So I'm as happy to be here as anywhere in the stockmarket. People say cash is better but is it? The £ tanked yesterday. With every new 100s billions (£) or trillions ($) printed to get through this crisis, it is only real things which hold value, currency is just currency. Nickel will always have a value. All IMO.

Good stuff Harkin. Sincerely it works better for you than Sirius.

Didn't find them down the sofa, sold the sofa to raise the cash :)

Think you just got up to £25k more in the mini budget mate. Thats a lot of horizonte shares at current prices. We just got another £7k.

Someone took their cash and saw better opportunities elsewhere:

17-Mar-20 10:27:56 7.00 7 Sell* 7.00 8.00 0.49

would be if palladium is a key ingredient in the vaccine. For any other news they can stay well stum IMHO. Best performing share in Feb, also in March, and at this rate in April.

https://www.marketwatch.com/press-release/horizonte-minerals-plc-proposed-placing-of-ordinary-shares-to-raise-90-million-to-fund-definitive-feasibility-study-at-araguaia-nickel-project-2016-11-01

The last rights issue to which RG subscribed, I think, was 2p. Even he is loosing money if he sells at current prices! Utter madness. Bet 2p seemed a resonable investment to the IIs who subscribed to the drilling at the time, who would have thought fully permitted fully cashed up and ready to rock and roll we would be lower.

I'm having to transfer shares (internally in ii) between accounts ready for the Bed & ISA. £40 grand of shares in one trading account (purchase value) will not fill one allocation any more at current prices.

At 0.66p I can move all 9 million shares outside ISA into ISA. Who the actual f**k would have thought it possible. All IMHO!

17-Mar-20 11:09:14 1.525 419,224

That has to be below cash. Selling cash for less than it's value, well, as the message title says, madness.

problem with RG is he's shown his hand, he'll move when it suits him. We need an II (I'm not too fussed who, could be an investment bank, big fund, Orion, or one of our miners) who picks up the slack and soaks up the sells. If their goal is production, long term, or asset sale, and they aren't looking to offload in 12 months or on any SP recovery, that'a s bunch more shares in sticky hands.

Ironically I'd like liquidity now to dry up. That would kind of mean the next direction would be up.

All things considered, I would say Nickel isn't doing too badly. Certainly in % terms a lot less badly affected in recent weeks and months than wider market. I guess commodities have their own cycle and aren't necessarily fully correlated with the wider stock market. Positive is that it is still needed, still being consumed, and at even $11k/t or $12k/t Araguaia would be profitable. Current conditions affect other producers and other projects which are either making a loss right now (and will continue to do so) or at the same stage as we are. This could mean when the recovery comes, be it 2,3,5 years time for full economic recovery the Nickel deficit is greater than previously forecast. Ironic and possible that Horizonte could in the longer term profit from this macro crisis.

Hopefully for Horizonte this is the bottom. Rest of the market, maybe a bit to go yet. Definitely the place to be is cashed up and not producing something the world doesn't need right now, like, air travel.

Child was killed outside my house yesterday in a car accident, don't know the details but think pedestrian hit by a car. Here I sat worrying about coronavirus and stock market. Puts life into perspective, IMHO. So much more gutted about that than anything we are seeing here and I don't know who it was or the circumstances. They say it doesn't rain, it pours.

If I was Orion, I'd start buying shares right now. If they spend their cash (again) they can take the whole co. How much extra % of co they can get for their money right now.
Obviously it doesn't really work like that but I won't complain if they start buying. Or some other II to soak up all the panic selling at these levels.