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12.97 GBX
-145.03 (-91.79%) past 6 months
Says it all really
Next door have gold so we ought to have it in our back yard too.
But like saying if my neighbour won the lottery I have a better chance than most as he is my neighbour.
How people can fall for this rubbish unbelievable.
Not surprising there is no trades.
People beginning to see the reality of this situation.
I think privately glencore is absolutely fed up with this ongoing saga.
And I think they have spkoen to la mancha and orion privately and said let us have it for peanuts and privately we will sort out something between us - less the shareholders.
Glencore have the money and muscle and they may offer orion and la mancha an overwhelming offer one which they can't refuse, it'll be pocket money for glencore.
So glencore take over, la mancha and orion get some money, shareholders get zero.
Publican is right a lot of optimist on this board were in at the 160 range. Their research failed them when it dropped to 8p why bother take advice from them now?
There is a lot of pain coming ahead
My opinion
Completely agree a wipe out of existing shareholders is becoming more of a certainty as each day passes.
$20m to HZM is like pocket money, will be spent in absolutely no time if it hasnt been already.
That money is simply to prop things up for a very very short period when that vanishes expect a doomsday of an RNS.
A shareholder wipeout or a mass dilution - either way taken to the cleaners.
La mancha or orion or glencore could not give a cahoot about the shareholder - doesnt matter what they say or preach!
The rise to 18p was false optimism and tomorrow/by weekend a further demise sub 10p beckons.
I wish everyone the best - but putting money into HZM now is like putting money like a 3 legged horse - its a stupid gamble
La mancha are not stupid.
They are probably looking to sell out ASAP - i think them and orion have realised that the potential billions (just like Sirius Minerals predicted) is way way out maybe 10 years down the line with $100mn yearly investment between now and then to reap such rewards.
At the moment its about damage limitation and risk assessment - is HZM likely to upset them again within the next 12 months with missed targets on works development, production, costings etc? - Definately so!
what about the macro-environment?
Does the market want HZM's 'second grade' nickel which is now being dumped in favour of a better grade?
If Mancha and Orion can salvage anything they will be set to walk away they can afford to lose - we the private investor cant.
Dont forget Sirius Minerals was a much much larger company than is Horizonte
Sirius had invested $1.5bn in it self and when it was sold to Anglo American for which AngloAmerican paid absolute peanuts.
Glencore may do the same for HZM too - peanuts to buy it out
Sirius backers included
These include FTSE 250 firm Jupiter Fund Management PLC (LON:JUP), one of the company’s long term backers with a stake of around 4.7% which until Tuesday morning was worth around £32.9mln, it is now closer to £13.1mln.
It is a similar story for LA-based Capital Group Companies, one of the world’s oldest and largest investment managers, whose 6.5% stake in Sirius went from £45.5mln at Monday’s close to £18.2mln by Tuesday afternoon.
Them and other funders loss a lot of money.
When push comes to shove: the question for horizonte is just how much money will be needed to break even - make ends meet - be self sufficient
If HZM needs at least another $100m (i think they need much much more than this) then its prob time when most of the funders will let it loose and let it fall into admin
Point being no company is too big to fail, Horizonte is a minnow compared to some of the major US/UK/European companies which had big big backers but only then went into administration.
Its a paltry and a fallacy of an excuse to say BNP etc have much invested in HZM and wont let it fail - when push comes to shove these big boys will make there money elsewhere and let hzm slip away.
My opinion only of course - wait for the RNS and we shall see
Endless postivity which is all false.
Lets not forget HZM mining sites are distant and remote - literally in the middle of nowhere in that huge jungle called Brazil!
Mining is damn expensive and HZM has literally no spare capital, a mine shaft flooding, major machinery breakdown or some other major issue and the production numbers goes to pot and the $20m gets burned through in no time.
We all know a dilution is pending - what will be testament is how much they hope to raise based on what dilution. This will reveal the dire straits the company was in.
I reckon a major dilution will happen - 2p is looking increasingly likely.
Remember a few years ago baron oil shot to 0.4p and within days they did a huge placing for 0.1p - shafting everyone.
Its a shame this company has fallen apart so badly and so quickly - GLA
Commercial tranche of US$200 million and an
ECA tranche of US$146.2 million
In a company with a market cap of less than $34m
They are prob thinking might as well ride it to zero and walk away.
Horizonte are probably going to need another $500m to pull this off.
For those thinking of investing in mining a bit of food for thought.
The Govts of UK and France backed the channel tunnel with billions and billions and they almost went bust!
Can't see hzm have a fully operating mine within next 10 years.
It's a right mess and this place is so remote, inaccesible and that even if they do dig the stuff out to transport it will need infrastructure to be built etc.
It's a pointless project.
Literally throwing money down a pit.
My opinion only but it's going south
Many have come and gone the way of the dodo by thinking the owners of a company will come up trumps with the capital and save a sinking ship.
It has not happen and will not happen.
Horizonte in my opinion is doomed and destined sadly to fail. Those who have money saddled in and at a significant loss, stay put.
Those thinking of parting with new money on this sinkhole. Stay well away.
The dilution when it arrives will be brutal. I can see it go for around 5p if not lower.
Thing is the begging bowl which horizonte have to do the round with is far far bigger than oliver twist.
The interest rates are crippling and glencore despite its worth will want this for a penny and not pay anymore.
This will sink below 10p tomorrow and certainly by the end of the week.
Invest in producers with low/no debt not dreamers and wannabees
2p next week is my bet
Hi all.
Whats the most sensible approach at the moment. Iv still kept my sons holding with HL.
Keep with HL and get your dividends via them - (but you cant buy or sell).
What are the other options and whats the date this all needs to be done by?
Thanks
Sorry not planning to turn my back on Polymetal.
Polymetal was an excellent UK listed company. Which rewarded its investors well and produced what they said they would when they said they would. I trusted Nesis and Polymetal a lot more than the majority of the Crooked CEOs on the FTSE 100.
Polymetals issue is sadly purely because of global politics.
Ultimately we and the word will need Russian Metals, Iron, Minerals, Wheat etc
we shoudnt be biting the hand that feeds us and the world.
Gold is Gold!
Be it Russian, Indian, African or otherwise! Its the very base for financial market and cannot be weaponised (unlike the US Dollar) as there is always a market for it - regardless of politics, regimes, or whatever else.
Poly was a profitable gold producing company, hammered only because of sanctions.
It will be massively profitable again.
Hi, i am with HL with my sons stocks and shares ISA.
Whats my best move im worndering?
play keeps with HL? for the divi
do all this tabby/freedom finance stuff?
thank you folks :)
such a shame, what a beautiful company polywas for its size so profitable and produced lots of gold and shame this is how its all gone and going :(
done think the russians will ever trust london again.
truth is uk/eu need russia for energy, metals, ev revolution, far far more than it needs us.
russia can love without chanel and mcdonalds but europe needs russia for its energy and metals.
boris/sunak have done a fab job marginalising the uk - russia, china, india/****stan, middle east, south american countries and carribean nations want little or nothing to do with us anymore.
i am so ashamed to be a citizen of not so great britain.
Yes my sons stocks and shares isa.
Hargreaves shold at least be more helpful to those suffering already.
So i need to contact I.I tomorrow and ask them that i want to transfer the isa to them? then once transferred ask for Paper Certs and then open an AIX account through Taby?
have i got this all correct?
So to transfer my Polymetal holding from Hargreaves to InteractiveInvestor with the hope of getting paper certs
What are the steps involved?
As a polymetal shareholder who owns poly stock through Hargreaves Lansdown what are my options?
Sell up and thats it? or let them delist and have F*all?
How can HL poly stock holders save themeselves?
Sorry just to be certain.
Those wanting to hold Poly stock will have do all the faffing about getting into paper, confirming ID etc
just to transfer it into AIX and after all that will only be entitled to the dividend and wont ever be able to buy or sell the stock?