Member Info for wasarunner

I think perhaps what people overlook (I include myself here as I never really gave it too much thought) is that Glencore have signed up for 10 years of offtake at market price. Just to keep the maths simple ignoring the build years which I assume are included as it runs for the tenure of the debt which of course kicks in anytime soon:

14.5kt/yr x 10 years x $20k/t average pricing = $2.9bn USD

So Glencore effectively signed up for $2.9bn USD at the time that Orion and La Mancha coughed up a couple of hundred million dollars. Glencore are a big player here make no mistake. Perhaps buying Teck's stake is just shoring up their position but it is clearly strategically aligned to them being a major player in the nickel supply industry.

OK I got it right with my second guess. Reason I wasn't so sure about this one is why they wouldn't just take more in the initial placing? But maybe the bigger deal for them at the time was the offtake (lets face it - 10 years offtake is a big deal!!)

Very happy with that. Whether it is strategic interest in Vermelho or just a levelling up holding to be closer to par with La Mancha or Orion who knows time will tell but Glencore having strategic involvement here is _a good thing_.

ie this person got extra 22.2k shares in the ISA because it executed at 9p and not 10p. Over time these add up.

13-Apr-22 15:48:07 9.015 221,297 Sell* 9.00 10.00 19.95k O
13-Apr-22 15:46:58 9.00 222,234 Sell* 9.00 10.00 20.00k

Bed and ISA has the effect of dropping the apparent price but these execute near bid if you got a good broker. The published spread here is not 1p (ridiculous) but the person putting shares in the ISA isn't complaining they are getting plenty in! I got same situation on ACP getting into ISA at 4p the spread there is also 10%.

Wonder if this is some kind of unwritten rule around now - keep spread big to let the ISAs get in. Not complaining at all this is good for the people moving the funds.

My last B&I went through so can someone give the co. a nudge we can start the rerate please? :) No longer want it low!
13-Apr-22 15:14:41 4.006 499,226 Sell* 4.00 4.40 20.00k O
13-Apr-22 15:14:26 4.00 500,025 Sell* 4.00 4.40 20.00k

On a positive (for me) we aren't seeing pre-warrant selling touch wood much for the end April/early May warrants. And we are still above the conversion price. Hopefully with that tranche done and dusted we can start to see newsflow begin.

13-Apr-22 15:05:53 7.78 1,000,000 Unknown* 7.75 7.80 77.80k O
13-Apr-22 15:05:53 7.78 1,000,000 Unknown* 7.75 7.80 77.80k O

Ditto. This isn't PIs selling IMO this is placees in the funding round:

"606,123,712 new Ordinary Shares pursuant to the UK Placing, raising gross proceeds of approximately £42.4 million (approximately US$56.8 million)"

13-Apr-22 12:55:42 7.78 500,000 Sell* 7.75 7.90 38.90
I wonder if this kind of sell (I presume it is a sell) is one of the insti's who picked up in the financing round. Surely for many of those 10% 'will do' and this is their chance to exit nice and early in profit, whereas whoever the bigger fish is (and it appears to be a big fish with the amount of upwards pressure we've seen in the last two days) is happy to take it off their hands.

Must confess I've been more concerned mid term like Bwana here that the placees in the finance round for whom this wasn't a strategic interest would be weak hands - lets face it PIs with the possible exceptions of the likes of Craig are not going to make much difference here now selling (or buying for that matter). We are all part of bigger forces at play and strategic interests and 'big fish' indeed will govern the outcomes for Horizonte.

Will be fascinating to see who took the Teck shares, either existing principals shoring up their interests or a new player keen for some (Vermelho?) action? 18 months left till Q4 2023 and commissioning Araguaia if the timelines are still on as Horizonte last told us they were...

>>My conviction played out but I played with fire.
Yes, well I won't put £750k into only one (yes only one - I held no other stock!) stock in my portfolio again. But it worked. Now hold decent weights in HZM (which funnily enough on the move today!) ACP and GRL. Of the three I consider GRL the most de-risked in the sense that there is:
- virtually no debt
- a mine is built and producing
- company is confident enough to be preparing the next mine and expanding the current one!
- and of course the 'commodity' is a well established 'base currency' who's value tends to rise in times of economic or international conflict situations of which we have plenty right now
Just as a comparator:
- HZM $350m+ debt with no mine built
- ACP no financing and no mine built
I don't really understand why we aren't above 10p yet here but there we have it. But I remain super confident on all three.

https://twitter.com/wasarunner1/status/1511603883839266819

Don't flame me for saying it but we need a juicy (TR1) RNS to really put meat on the bone here.

13-Apr-22 11:14:12 4.025 120,454 Sell* 4.00 4.40 4,848 O
13-Apr-22 11:14:03 4.00 121,407 Sell* 4.00 4.40 4,856

Not one of mine but bet a bottom $ this is another B&I today. Timestamps 9s apart, amount £8 different (about the fee a broker might charge) and very small 0.025p spread. Listed as sells near the bid again.

I sold 386,914 shares and re-bought 385,899 so that after stamp duty (of which there is none) and a small spread the broker charges for executing it and the £1 fee for being over £10k I end up with 1015 less ACP shares (worth a whopping £40) than before but now they are in the ISA. This website and other automated systems think they are two sells but they are not. Thing to look out for are the timestamps close together, the amounts being nearly the same/similar (and under £20k).

Which large sellings I'm just not seeing what people are talking about here? I have an eye on the trades this week (and last) because I have 5 bed&isa orders in, 4 have executed now, 1 to go (ii are a bit slow on the old execution). People realise these are bed and isa's and not 2 sells because they execute near bid and the website can't figure out it isn't a sell?

13-Apr-22 09:14:58 4.01 385,899 Sell* 4.00 4.40 15.47k O
13-Apr-22 09:14:50 4.00 386,914 Sell* 4.00 4.40 15.48k

Those happen to be one of mine, today.

In terms of MB selling - very unlikely. MB has to notify _every_ change in holding by RNS, it is a directors legal responsibility to do so in a listed company. So at a minimum next day after his holdings change I think he has to notify. So whoever is selling (and I don't see much selling going on) it is not Matt Bull!

if it's a leak it would be less exciting if it was Orion/La Mancha as market already knows they are at the table. If a.n.other has bought the Teck stake and that info has leaked then of course if it is an entity of interest (perhaps a miner with an eye on Vermelho partnership etc) would be pretty big development.

Hope we get the TR1 to clarify all. There is a chance it is actually the same entity that bought the 210m adding further to their holding (and not others jumping on the bandwagon)

Hi leathal I don't have it to hand but it will be a shade above 10p. Most of mine were added 10-11p, I bought 1m at 13p, and latterly a few below 10p. I am not an 'early investor' here by any means but to be honest latterly I actually prefer a strategy of buying a more developed miner which is still to rerate to production values so if I were coming to Goldstone right now this would be pretty close to ideal time to buy I would say.

I got quite lucky on Horizonte I was an 'early investor' buying literally when everyone was selling and I did it on sheer determination that nickel was the next big thing, pretty oblivious to what was coming with covid, financing, etc.etc. My conviction played out but I played with fire. There is substantially less risk buying Goldstone at 10p with what we already know than when I bought Horizonte at 2p with what I knew then. But I have learnt a lot in that time. Not been invested in miners that long really been looking at this sector since 2017 so by no means an old hand at this. Finding intuition plays a role and my intution tells me with gold going higher (for sure) and goldstone becoming a producer (for nearly sure) we will do well here hence my stake.

yeah had to be really careful with the copy and paste not to press confirm! Good signs though. An ii building position for sure so what remains to be seen is is it one of the existing ones or a new one. Hope PIs now hold for gold, let the ii's wanting in push the price up and clear out any remaining stale sellers from the financing round who wanted a quick flip.

Quoted £150,009 after fees to sell 2m.

Could be 100% wrong.

If I were Orion/La Mancha I would not want another entity taking Teck's stake. At the moment those two are in good control of an eventual sell/block hostile bid. The holding is nicely split so probably one or other is not enough to sell the company. Would they want another major player to take a 5.5% stake then build from there? I wouldn't if I were them, already thought 7p was good value, had done the DD, and Teck were prepared to sell me the shares at 7.2p / 7.3p.

So could they have split the stake between them? It is possible. As I said could be 100% wrong but if I were them I wouldn't let another entity start building a position if I want control of the co.

Another possibility of course is Glencore who did participate in the funding round. I would imagine Teck may have approached the existing main holders to discuss a transfer of the stake. At the moment those principals are La Mancha, Orion, and Glencore.

The spread is huge so the 1 buy inside the spread is probably not enough on its own to move the range. However, it does soak up the liquidity so if you come in behind it or there is news there is now less shares available.

I think we will break above 10p once we have decent production news and then hopefully 10p becomes support (not resistance). I am fully positioned in goldstone now won't be adding (in fact at some point may sell my surplus 500k shares as it wasn't really part of the bigger plan) but think it will come very good.

We shouldn't forget Akrokeri the company tweeted about it yesterday. All the focus at the moment has been getting viable production going at Homase but Akrokeri initial drill results could be a month or two away.

https://twitter.com/GoldstoneRes/status/1513824757027905537

I am being quoted 7.42p to sell 1m. That means there is a buyer about for sure...

Who's selling? I ask because I only see a couple of very small sells today, the transactions at 14.52 are bed and isa executed at roughly the spread I would expect for the £20k transaction. I have been doing bed and isa but on acp not grl as a lot of my grl are in the isa already. That said we remain in bargain territory especially with gold about to cross $2k/oz (we hope!). U am surprised we are still sub 10p but not enough people see a bargaun when they see it!

On the call Emma said they will have a gold pour this month so lots to look forward to especially if we cross $2k by the time it comes. I just hope they do announce it - a big problem here is confidence which they can do a lot to alleviate with a good pour. Gla