Member Info for wasarunner

Volume is meaningless - 600k shares changed hands yesterday which is £50k. There isn't much action because we are in a holding pattern to find out whether we can make commercial production numbers (I believe we can). So small amounts of buys / sells move it about disproportionate amount (+/- 0.5p) while people are bored. I haven't bought a large amount recently but would wager anyone wanting a decent clip (I've been buying around 1m in a day when I can get it) would move the price quite a lot even if it could be filled.

There is an absolutely enormous opportunity right now, with commodities and precious metals motoring up with inflation/war, to invest in near term producers. This is one of them. The investment case for Goldstone got a lot more appealing (if it wasn't already) in the last couple of weeks.

I'm pretty sure we will have (good) news sometime in March and we should see the share price back in double digits. Right now is a great opportunity and if I wasn't already fully invested here and elsewhere I would be adding. GLA

https://www.wsj.com/articles/chinese-nickel-giant-tsingshan-faces-8-billion-trading-loss-as-ukraine-war-upends-market-11646765353

Apologies if already posted.

large print was me, took 3 hours to fill that order.

Added 1.4m today. Hard going, sellers have cleared it seems. Now the patience game begins, happy with my position here. GLA

sure we might be providing liquidity for a warrant seller or two in the interim but there are only so many warrants that can be sold down. My hope here is still close to double digits ~£65m mcap fully financed and building a mine 10p. If it's less it's less but as long as we are building a mine in 2022, very happy here. Then at production - take your pick - prevailing graphite pricing takes over at the time. GLA

0.03545,
0.0355,
0.03598,
0.0359,
0.0368,
0.0369,
0.0379,
was what I paid. Bloody bargain

250000,
250000,
150000,
100000,
100000,
100000,
126046,
was what I added

Will have quite a decent position soon. GLA

Worth mentioning also - we must not forget we have forward sold production at prevailing market rate, 10 years, to Glencore. A buyer here has a guaranteed sale on agreed terms. (Long term) price of nickel up, value of purchase/sale up. Glencore buying production from Horizonte today would be paying $30k/t. There just has to be a lot of interest now....

They broke the calculator. Npv now off the scales

Excellent posts as ever Aim, thank you. Looking fwd to update in March post warrant expiry in any case. Gla

If Matt personally was selling it would have to be disclosed via RNS. He might also struggle to sell if there is sensitive information i.e. he has something going on in the background which is price sensitive to the share.

I remember when we were fantasizing about $18k/t and working out just how much money Horizonte would be making at those levels. Another $10k/t of pretax profit - aka another +$145m/$290m ebitda, yes, we'll take it. GLA

Warrants will improve the long term prospects at this stage because converting them adds much needed cash to the balance sheet which is important going into financing as financiers like to see the company put up its own equity (like your deposit on a mortgage) before lending debt. However, if those converting need to sell existing shares (or warrant shares) to meet their own cashflow needs or to convert the warrants then of course it suppresses the sp for a while hence the artificial scenario. At least Kabunga may be in this position as he is simultaneously having to fund Volt. As I understand it he has/had 2.2p warrants but not the 3.25p warrants can somebody confirm? If that is the case then there must be a good chance of newsflow between the two dates ie next 8 weeks.

Not sure on 3p warrants (does suggest sept 22+ unless someone can correct) but the 2.2p warrants being exercised now are listed in the 27th feb 2019 rns and are more significant 72m shares vs the 27m in the later rns. I had heard april this year being mentioned in the context of the 3p ones but can't verify that. We then have the 7p warrants exerciseable sometime before mid 2024 - lets hope the mine is producing by then!

Just to add as I discuss this with fellow investors a bit - he needs more mgt team we know that but the mine director is a first (and crucial) step and signals this is going to production. I hope to see an fd/financr announcement next around about the time we need to get finance onboard for the mine - ergo any time soon. Then we are at the races. In short, there could be a lot of news in a short space here.

Not easy being patient but here is my take on state of affairs:
- kb wanted/needed out anyway and mb didnt want to afford luxury of a higher price and certainly not selling down news. In effect substantial portion of company changed hands ii->patient pi during this sell down at the £20-25m mcap level. I know, I took 2% of the company.
- we are assured from the valuation of Blackrock which is listed on an arguably more mature exchange (certainly for miners) that our valuation is well out of kilter particularly on measures of npv and irr and low capex needed to finance the mine.
- comms isn't great and we want a lot more for it not to appear to be run as a private company but do we expect no progress to have happened behind the scenes in the period since ml? Vanishingly small probability of that.

So we are due news absolutely, shareprice is as low as ever since I first invested but does that mean it isn't investable? Absolutely not. I can only draw on my experience with Horizonte where my initial forays were 4-4.4p and in subsequent years I filled my boots at 1.7-2p and even divested some 8-10p and hold the majority for much greater gains in years to come (now fully financed). Make no mistake today is around the best buying opportunity in armadale in the last 18-24 months and good money will be made here. Caveat of course you have to believe in the asset, the jurisdiction, and the mgt. I do and I have and now have around 25-30% of portfolio by value here. Eye always, like SJ , on the longer game. Gla

I think the Volt mine is close to Kyiv. Close enough to be a big problem but I don't know the details of that operation.

https://www.proactiveinvestors.com.au/companies/news/975490/volt-resources-raising-2-5-million-as-its-looks-to-become-battery-graphite-materials-producer-975490.html

SJ he needed $0.5m. Technical weakness here which will correct. Wish I could add more but no funds, expect to see uplift and newsflow when warrant expiry date passes and newsflow commences. Suspect mb knows Kabunga is in trouble and is timing to force him out on the cheap. Just a hunch.

towel is in. Another 1.12m for me. Switched some from my only in profit share this morning.