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Wasa - Thanks, missed that. Guess it just feels a while since certain enabling works got under way, following the initial Orion £25m, which I think was about 18 months back now, but obviously my memory isn't great!
I'll certainly be waiting, as patiently as possible, and adding more shares if EUA and ARCM situations play out as hoped. I think there may be a bit of a race to get monies from any ARCM deal over to HZM, and maybe the timing will work well for a change (expectations not high - it would be a first!)
"The placing along with bad luck-the fact IG pulled leverage on 1000 stocks which included HZM-has put pressure on the shares."
Sorry to be picky, but I'm with IG, and have an open long on HZM, and don't think they are on the list, as positions are still open. I had to close on EUA, NCYT and POW, but not HZM. I believe all those that were on the list are now showing as 'closing only, not available to open' - This doesn't apply to HZM, but admit I haven't looked at the list.
Personally, I liked the fund raise, as it further cements the moving onto the construction phase and gets those long lead items procured. That said, I was a little surprised that the presentation today now talks about late 2023 / early 2024 for first production. I was hoping for H1 2023, but I shall be holding my shares for the long term, as I have complete faith that this will be a brilliant investment.
My only other surprise, is that there hasn't been more news about outside interest in Vermelheo yet, but that one could jump out and surprise us anytime.
Gallmat, at the risk of getting shot at for discussing other stocks, I'd be surprised if there weren't a fair few here, like me, who are also into hzm.
These are both fantastic opportunities, and I believe will both provide great returns this year, and probably for many years to come.
Agreed Luke. No downing tools waiting for finance now. If they've spent the Orion money things should be advancing nicely. $25m will all be very trivial once they get the mine producing a handsome revenue for many years.
Sure to drop towards 8p for a while, but no issues for the long term plan.
HD27 - If you could see my portfolio, you probably would conclude that I'm in the wrong game, but that's my concern.
But the actions of directors is part of what informs my own intuition, that was the point I was making.
We all have our own methods, and some research more than others. Each to their own, and good luck.
JAdam - Very true, and amusing. Anyone who has recently been in RMS (guilty, and burnt) would know that there really doesn't seem to be anything that a company can do to obtain the interest of the so called authorities.
Walkingbear - I hope you are right, for all holders here. I just have been stung too often on AIM, and director sells are a red flag for me now.
Your scenario could make sense if there is a deadline looming to exercise the remaining options?
"Following the above transactions Mr. Rhodes holds no Ordinary Shares but holds options over a further 1,380,406 Ordinary Shares.
Holding options to buy shares is very different to holding shares.
This guy, and fair play to him, has got his snout in the trough."
Dibs - You are right there. And let's face it, if all those options are at 15p, you can bet he'll be using the funds from his first sale, to exercise the remaining options and sell before the sp can drop much further. Anyone would in that situation, it is free money.
Looks like a show of no confidence, with these directors exercising options to sell at today's sp. Clearly they don't see any great increase to be had in the near future, and are happy to take the profit available today.
Unfortunately, they are better placed than us to know.
"I think the debacle of ARS has made some bedwetters on here sell out. Never mind as patient knowledgable investors will always out do rainbow chasers."
Marco - I don't think there's any reason to call people selling bedwetters, it's a matter of choice. Theirs, not yours. I was caught up in the Ars debacle, and it does knock your confidence, if you can ever have some in Aim. That was supposedly a done and signed deal, but turns out a probable scam.
That said, I'm more heavily invested here, and have far more confidence. I think the scenarios are very different.
AA are a serious player, and know the assets already. AE were beyond shady. Luckily, I was nervous enough in the Ars situation to reduce my holdings before it all fell apart.
I'm sure we'll eventually do very well here, and potentially that could happen quickly. I'm more inclined to add here than reduce.
Tricky. I agree.
Ohmni. Chill. Just because you're paranoid doesn't mean they're not all out to get you, and fudge the stats to cover it up.
Pour yourself a pint of Ease up IPA, it's lovely.
How about
3. Does anyone have any faith in the BoD that we won't be sold down the river again in 18 months time with another placing or privatisation?
4. How do we feel that the BoD diluted our holdings 80%, with no notice, and then helped themselves to the cheap shares?
Sonnets
I agree, and have no explanation for the absolutely bonkers discount on the raise. Does anybody believe the raise would not have worked at .75p, given all the positive news and feeling for the products, great demand etc.
And if they do think that would have been a struggle, surely .50p would have been easy.
I've kept an eye on primary bid, and checked over the history of bids, and there's been many successfull raises at less than 10% discount, although probably 15 - 20% would be average, with the odd 30 - 35% looking a bit desperate.
TRX should not have been desperate at all, as you suggest, but they opt for a 76% discount? I just can't reason that, from any angle.
True
It also means, like we didn't already know, that the placing was stupidly cheap.
You only have to look at the general level of discounts on primary bid, to see how over the top and unprecedented the 76% discount was.
Thanks NMH.
Moreover, if they buy as part of the placement, they are adding to the drag on the sp.
If they are made to purchase on the market, they would be soaking up some of the placement shares that new investors will be looking to offload at a quick profit, and it will speed up the ability of the sp to start it's recovery.
Personally, I would have happily subscribed to a planned placement at .75p, given the confidence I DID have in the company's growth prospects.
In fact, I've previously stated that I would have subscribed at an enhanced sp, if warrants were then available for future purchase at that price once the sp has risen.
There were so many better options available, but the lazy and greedy BoD have acted without any consideration to shareholders whatsoever.
It would be nice to see them replaced by better and more capable people to take the great products this company has forward.
I would like someone to propose that the passing of the funding resolution is dependent upon the directors NOT being able to invest at the placing price.
Due to the oversubscribed fundraiser, their purchases are not required, and why should they benefit from screwing over us existing shareholders?