Member Info for wasarunner

it's in 3 names so a long ways yet from TR1! no idea tbh. If Horizonte was a micro cap with the same investment I could have got a declarable intterest - maybe the next Horizonte I will try to get in earlier for that scenario...

suspect this was a sell:
27-Feb-20 09:17:46 3.00 500,000 Buy* 2.90 3.00 15.00k

I had 2x buy orders for £10k each in at the time which were executed above 3p minutes later. Suspect my buy was sold into. I don't think there were shares available at 3p at the time. So that might be another 1/2m RG shares gone...

I guess they can't not announce if they have signed something, but they can stay quiet if negotiations are ongoing and going well and not release hints of news. So they can omit the kind of news we've seen before like 'seeing a lot of interest in offtake' but if they signed an offtake I guess they would have to announce.

They can possibly hold off signing things if both parties agree timing for news release isn't right too. That seems less likely but all the indications were much of the signing will happen around the same time when all the pieces of the financing are assembled.

I think at the moment we aren't seeing hints of progress because they are holding back for a more favourable environment. It might work in their favour as it might also buy more time for negotiations. Still think a good deal is more important than a quick deal.

I think they are waiting for RG. Why release news, see SP climb by 0.5p then he sells another 1-5million and smashes it. What's the point? I'm happy they are holding news till he's gone. It would be nice if we got an all clear though, I guess we won't (he doesn't have to TR1 when he hits 0). Maybe the selling drying up will signal the end but when will it be. I thought it would be end Feb but looks like it could spill over to March. As long as he's gone by April, let the news roll then.....

For me it looks like combo of the two. The selling is undeniably still happening and whoever is doing it (assume RG) really doesn't care about the SP when it happens. Because it is steady it doesn't look like a response to the virus. Maybe the MMs have marked it down with the rest of the market so aren't taking stock at the moment. Considering moving funds we'll see if it continues! We're not valued at much above cash now at all, I don't think. Maybe £10-20m.

looking at the trades this morning soutie you weren't the only one :) Nice move and hope it pays for you.

I'll be buying £20k-£100k come April, depending on price and move to ISA. At close to 3p I would consider a larger trade/investment than current planned. At current price I consider this very tradeable for those with that inclination! I think the recent price will somewhat act as a handbrake on the re-rate potentially as those buying at these numbers for a trade will probably sell when we hit 4/5p+. I don't mind, it creates more buying opportunity should other things play out.

I've never set out to trade Horizonte with anything less than a long term view but when I have, due to other factors, it has yielded a return and I think current price is good on a medium or long term view to be really honest. I take no issue at all with it being traded, it should all work out in the wash when we have finance in place and are building the mine. The re-rate to NPV multiple and nickel price is what I'm in for with the main holdings...

unlikely imho. The amount required ($443m) is too big and we already know non equity sources are available - I have it reliable source that the banks have visited Araguaia and liked what they saw.

The equity will come but at the end and hopefully for only a small tranche and at a decent premium. Cash in bank at the moment so no need for cash until mine build starts in earnest.

Although the current macro doesn't affect the fundamentals or the long term potential/outcome here I do think it can have an impact on timescales. In a positive nickel environment and with news expected now and in Q2 I think we would be building sp momentum towards where the board want it to be come final rounds of financing. With nickel around $12.5k, RG selling, virus fears, we may see a slight delay (maybe months), I don't mind at all it suits me. I know the big financiers will be looking at the bigger picture and the longer range forecast but the board won't be rushing it if they don't think the environment is right. I think in a more positive environment we might already have seen more news.

Lets see RG complete the sell down, that's going to happen sooner than the virus disappearing, then hopefully nickel starts a rally beginning of Q2 and China picks up again. It is short term noise in the grand scheme of things - maybe it creates bit more time buffer for the board to negotiate deals and also a bit more time for the engineering team to look at the plan and fine tune the cost savings. Got to look at the positives :)

Hi guys, this is my take, I'm not checking too often any more, it is all good from my point of view:
- this taking time is a good sign, it means there are definitely buyer(s) at the table, and they are talking real money. Anything derisory and the board wouldn't be taking the company off the market during the negotiations.
- I also think we will get a sale, the PGM environment is really hot and the board clearly want a deal. So for people wanting jam today (as opposed to going onto produce and divis in 2+ years time) I think it is good news.

Hopefully we hear significant news in March. It would seem to make sense if the buyers want to mine this year, to get a shift on for the mining season. If WK is going to be retained we might get an indication on that through March in any case if it starts ramping up to production in April. ATB GLA etc.

Seller wants out - plain and simple. It doesn't seem to matter what the macro or share price is doing, the selling is consistent. Suspect getting near to the end now and just wants out so will sell whatever the price. Combined with macro could take us below 3p unless there is support there. Watching from sidelines for the moment!

jamesdean, I'm coding my algo to start the 100k tranche buys when RG finishes, on the half hour....

it is very tempting I'll give you that! But I'm told discipline is the name of the game! (not that I normally have any...)

G_G_G fully agree and I think those with more experience of just how complicated getting $0.5bn financing sorted for a junior mining co will probably not be at all surprised by the overall timescales - it is all new to me never held a stock like this through to finance and build. We will probably get hints around timescales when newsflow starts - it is better to set/reset expectations sooner than later.

I'm hoping like you I might have a decision point in my case if EUA relists and/or a deal is done there I will have a further pot to play with. What is undeniable is @3.25p or thereabouts these are a bargain and well done to those adding now!

sorry I meant virus/China. RG is just a sideshow really and hopefully gone soon!

well done owlo I guess all things considered, even the Nickel price is holding up reasonably well against the rising stockpile.

It won't be forever but it may delay the financing a bit and is slightly unfortunate - and not of Horizonte's making. I would rather they delay finance complete 3-6 months than do a duff deal to rush it through in the original timeframe.

For anyone playing the long game with opportunity to add this might elongate that window of opportunity, I certainly wont' complain if we're still these prices in April.

selling every half hour around 24 mins / 54 mins past the hour in around 100k share chunks. It is quite a regular pattern and to me at least suggests there is something setup to offload a load without killing the price - i.e. this is still the RG selling down. At least 1-1.5m shares today (assuming the last 300k share tranche was a sell).

yes you're getting a good price, well done. Haven't been many opportunities to buy lower. It will turn, my guess is even if the company has news it won't release it in current macro environment, wait until more progress has been completed on financing and design the newsflow to coincide and run up to full finance package.

My own expectation is that because of factors outside Horizonte's control, we might see finance complete Q3 - for example, if China was to be involved in any scenario offtake/financing it is going to be hard to get those deals sorted at present with the virus scare. And lets face it, huge % of global ferronickel is consumed by China so you wouldn't bet against an interest there.

but only after April 7th please...

Very interesting indeed. 2 tonnes of generic PGM basket (containing Rhodium at $12.5k/ounce!) is very worth keeping if it can be scaled up with sale proceeds from MT. However, it also means it has surely a decent value in it's own right.

Wonder if they might even get 2 different buyers for the 2 assets. Would different co's be interested in the different concentration - i.e. a different buyer for predominantly Platinum to predominantly Palladium?

One thing for sure, there's going to be lots of interested parties at the table (or maybe they've whittled it down by now!)