Member Info for wasarunner

14.4m shares at 30/11/22 on hzm website, dropped to 12.7m now. No biggie, it's a fund they shuffle. The 9.8% is probably their pre dilution figure.

Hazbeen said in jest/humour obviously :)
I added £40k this morning and quite expensive up towards the 155p mark. Obviously long term I hope this is not expensive but the share is definitely in demand. Wonder if there is still background buying and they are hoping to get more sells. Target for me with the new money is around mid 24 mine commissioned and ramping up. GLA

Hazbeen or Glencore. 50/50.

mick - obviously if you have another opportunity that is a different thing. You always have to weight opportunities with relative weight that makes sense. I diversified out of horizonte into ACP both as a de-risk strategy and as a timing strategy (I genuinely thought ACP would be first, being the smaller cheaper mine and much quicker to build) but it didn't work out that way. But the rationale was sound. So if you have to sell because you believe the other opportunity is quicker of course, good luck to you with the decision and hope it works out. It isn't an easy game this there are more ways to lose money than to make it. GLA

mick just my 2 pence (you probably already know my view). It's always darkest before dawn. I could have sold out of horizonte twice at the low - once before covid and once during out of desperation. I didn't and the reward is coming.

I get that peiple are ****ed with Matt for not communicating more but if there is nothing to communicate. My view is the mine will get built and will return $ but that this will take time. If you are under time pressure thrn of course there may be better opps. There will also be a lot of selling at 4p as I think a lot sill exit at b/e there. But you are selling near the loe llw at the moment and graphite mining id going to get a whole lot interesting in tanzania in thr next few months as blackrock announce their deal. Macro for graphite never been better.

Just my 2 pence but obviohsly depends when you need that return. I think in 2-3 years here acp will do very well for holders, personally. MB wants to build this mine.

Incidentally I also get the frustration of watching other shares go up while the one ypu hold doesn't budge. But if fundamentals are right it is only a matter of time. But patience is a hard thing, obviously.

They'll take £50k off me in one go should I choose to, being offered 1.532p

>>Spread at Zero. Offered the same 155 to buy or sell. What does that mean anyone know?
big boys want your shares, I expect.

To me, these are the transactions of interest:

03-Feb-23 14:07:30 152.70 5,000 Buy* 150.00 153.00 7,635 O
03-Feb-23 14:06:16 152.70 5,000 Buy* 150.00 153.00 7,635 O
03-Feb-23 14:04:55 152.70 5,000 Buy* 150.00 153.00 7,635 O

Lots of 5k, 10k (yesterday), usually indicating buys as are these based on the spread at the time. Round numbers, regular as clockwork. Position building but when the impatient PIs realise that they can get a higher price (if they want to sell) down the line, where are these institutions buying going to get their shares from? The other institutions are not going to sell to them - not if they value the mine on NPV or future potential. I do believe the re-rate is underway. Sure - if Horizonte drop some bad news on progress we may reverse some gains - but other than that it will be should be slow and steady progress towards a more NPV based valuation.

Could be Craig doing bed & isa :)

Yes TD2 it does look like the two smaller amounts add up to the larger one so it could be movement between accounts or counterparties done at mid price. Still, something got the price up in the last couple of days and I saw a lot of round number trades yesterday. Whatever it is long may it continue!

In fact it occurs to me that it could be an existing major party adding to position at that size. Could easily be Glencore or Helikon, for example. It doesn't of course have to be a new position.

Anyone with more experience of how these things work explain what happens here? I'm guessing the last day or two, the orders were being filled. Having been filled they are now published. So this is the hoover effect of buying off PI / smaller insti selling to build a larger position?

I had a suspicion there was ii buying as I saw a lot of round number trades yesterday but I don't fully understand how these larger trades work - any input appreciated.

Do think Horizonte will move independently of PI sentiment now I've said this a while. Our combined shareholding, although a decent amount in £ terms is now a smaller % of the register than it once was. The sp will be determined by the bigger fish here in due course.

Moving on small volume. Acid test will be does the seller(s) appear. The amount of buys would easily be dumped in one sell at the moment. Someone mentioned KB has pumped money into Volt again, not sure what ACP he has/had remaining but could have been at least a seller over the last few months.

Each to their own I guess - I remain relatively bullish on GRL (and continue to hold now >6m shares). Lots of positives:
- another Ghanaian miner prepared to invest £2.4m/£4.8m gbp (the loan is at risk obviously, the warrants not so)
- the redemption period is quite short - which means both parties are pretty sure that these will convert or goldstone will have free cash by Nov 24 to repay the loan
- gold approaching $2k and central banks increasingly sounding like QT is going to ease
- the raise is ostensibly to expand the operation, reducing cost by purchasing equipment as well as expanding the quantity of gold mined and recovery rate

The disappointing thing is of course it was done at the sp low (1/3 as much dilution if it had been done at 10p) but it is what it is. We will see in the months ahead how the expansion goes.

In terms of whether a raise is a bad thing for the SP one needs to only look at Horizonte BTW. Unexpected financing round at 90p, all PIs pretty ****ed off (me included, to an extent). But the tranche of money secured guaranteed the loan draw down and construction of the project. SP a couple of months later is 150p. This is the context this raise should be considered, yes it is dilution (30% or so, actually similar to the Horizonte raise), but if it enables the production figures that we all invested for here, then it is both necessary and money well raised. We all invested for 20koz+ so if this is the money Goldstone needs to realise that goal then so be it. At 20koz+ we will be back in double digits sp with gold at $2k, I have no doubt about that.

GLA

What you want Shell to make less profit pp? Just joking I understood what you meant. Well somebody will buy us somewhere in the food chain that's for sure, we're a tasty morsel to continue the metaphor....

Shells profit was £32bn. GBP. For that cash, they could buy 100 Horizonte's at current mcap to support the energy transition WITH PROFIT FROM ONE YEAR OPERATION. Astonishing (well I found it so anyway!)

Nice to see green shoots of a decent rerate here in any case. I do believe all we need is ongoing newsflow that the build is on track and the SP/mcap will take care of themselves in due course. GLA

Incidentally 21% is quite a big chunk. It could be that they like what they see and this is the beginning of a slow T/O and gives the current principals an eventual exit. If so so be it but lets see it well above 10p before that happens....

Previously I thought 14koz was worth 10-15p but obviously the dilution reduces this figure maybe making 20koz worth 10-15p. A lot depends on where the gold price goes, but even ignoring where the gold price goes, Goldstone need to produce those numbers profitably..... buying own equipment rather than leasing should of course help if it improves margin on each oz mined....

I say Blue Gold want upside from 3.25p and 4p so they would want terms where their loan (at risk) is worth the risk. That's the positive. They have bout 21%+ (at my calc) of the resulting company for £4.8m, obviously the warrants are risk free and not yet cash in the bank for Goldstone but barring catastrophe expect to be converted.

My first target for this year is 5p+. We need to get there (apart from anything else I have bought nearly a million shares in that ballpark). Next year 10p perhaps. 10p looks par for me now for 14-20koz with the current costs of production at the current gold price so we need to achieve that number (IMO) profitably for 10p. Any upside from that then we need to see the better recovery and the expansion beyond what the original target for 2022 was. But lets walk before we can run and see 14-20koz this year (profitably). GLA

ZaphodBeeblrebrox agreed there are positive elements to the news but obviously holders will be hurting from the fact it is exercised at the shareprice low. But unfortunately, I've come to realise with AIM juniors that is the way - the shareprice pre-empts the possibility of the raise as the company hasn't achieved what it set out to do (as jdt points out) had we achieved it the shareprice wouldn't have been 3.x p AND we wouldn't have had to raise. The unfortunatel thing is that we both had to raise AND the shareprice was 3.xp. It would have been a lot smaller raise had the SP been at 10p but then - we probably wouldn't have had to raise. Ever was it thus.

Lets see how the funds can be put to good use and lets see some progress in 2023. The gold price is playing ball and I have a feeling that when QT eases in the US we will see gold back above $2k which will also help goldstone. GLA