Horizonte Minerals Share Discussion Threads

[jaknife] 08/5/2024 13:14

A quick summary of BLOE:

* Extracting oil from reconditioned oil fields in Georgia.
* Oil fields that were drilled and abandoned by the Russian State years ago.
* The same area where the fraud Frontera Resources claimed to be doing the same.

P&L

* BLOE came to market in June 2018, it has reported losses EVERY year that it's been listed.
* The interims revealed further losses:


* Final results are due any day now (they were 11 May last year) and all the forecasts are for further losses.

Balance Sheet

* The last balance sheet was the interims for the six months to 30 June 2023
* Net equity was $27.3m but that includes the oil fields at $22.9m. Is that value realistic when the oil fields are loss-making? Who would pay more than zero to take on loss-making assets?
* Net debt was $1m (Gross debt $1.9m and cash $0.9m)

Cash Flow

* Cash burn in H1 was c. $1.5m. Note in particular that significant sums need to be spent on well stimulation and these are shown in the capex line rather than in the P&L. Hence cash losses are worse than P&L losses.
* BLOE has burnt cash EVERY year that its been listed and, in consequence, has had to come to market and raise cash on a regular basis.

Summary/Forecast

BLOE is a total dog. The only reason that it survives is that it raises funds on a regular basis from PIs who believe management's hot air and spin.

BLOE very probably needs to raise funds yet again.

JakNife

[andyalbi71] 08/5/2024 12:43

If you want to see a decent return on your lost funds , look at BLOE , they have just signed a MoU for their CCS project , 8.7 gigatonnes of CC at ?60 tonne ?. And market cap here still only ?12m , it will rocket only 725m shares in issue , DYOR and the maths , it?s mind blowing

[kirk 6] 02/5/2024 09:14

Take a look at INDI Indus gas very cheap stock one of the cheapest I can find

[excellance] 01/5/2024 23:33

The good news is that the mine will get built, the mine workers will have good well paid jobs for decades.
The senior debt holder will make half a billion dollars within three weeks, and Jeremy will take a well earned holiday. He had a good run but in the end he was naive and lacked experience.
Shareholders will have learned a valuable lesson, but expensive.
All we can do now is observe the winners taking it all.

[laptop15] 01/5/2024 11:18

Could be a dead cat bounce as shorts exit??

[laptop15] 01/5/2024 11:17

Last man out turn the lights off please to conserve energy and cash burn. Might help last another day....lol...what a shambles they made of this company

[kirk 6] 01/5/2024 08:20

500k bought lol at virtually yesterdays price and today confining shareholders will get nothing. The stupidity of the markets

[goggin] 01/5/2024 08:15

Just beer money now and a refinancing for someone after 100 million invested, now worth just .76m?

[excellance] 26/4/2024 19:28

HZM was hindered by the small print in the finance contract penned by themselves.

[impossible123] 26/4/2024 19:24

HZM was hindered with a couple of monumental world issues ie Covid and the Ukraine War which meant massive disruption and big increases in costs all round. The former could have been absorbed; Putin's madness in Ukraine was too insurmountable for a minnow miner without revenue like HZM.

Just not to be, I think. Notwithstanding, senior management could have been a lot more transparent and savvy eg contingency funds aplenty for unavoidable over-runs prior to production.

[stansmith1] 19/4/2024 14:36

rockets land and explode leaving a big hole in the ground, right?wouldnt hzm been cheaper just buying one of them, given whats left?

[caiman47] 17/4/2024 09:35

@ kirk6.

No it isn't.

[kirk 6] 16/4/2024 14:24

This is going to rocket

[andyalbi71] 16/4/2024 13:52

Anyone looking to recoup losses here (me included) take a look at BLOE market cap 8m ... project 3 farm out worth 1.67bn in progress and a carbon capture worth an eye watering 9bn Take a look at this link if you have any doubts https://vimeo.com/904455353

[inaminute] 16/4/2024 13:37

Traders all over it. Who will be left holding the baby?

[jayrh] 16/4/2024 13:32

Rumour partnership Glenmore allegedly. Might be bs

[g2theary] 16/4/2024 12:04

I've had a nibble here this morning ... 2nd time be been in these 1st time when they got that 20m life line ... did ok then ;)

[kirk 6] 16/4/2024 11:33

Dead cat bounce if 200% coming

[caiman47] 16/4/2024 08:52

At some point in the near future this will run out of money. At that point, a deal will be done that leaves the assets in most likely Chinese hands. Right now the Chinese are overly dependent on Indonesia.

[stealive] 15/4/2024 13:58

American Market will buy this just for kicks. Expect people to go long soon. Shorters will sell quickly. Hold on.