Harvest Minerals Share Discussion Threads

[dice1950] 23/8/2016 09:28

NLG buyers

[johndee] 23/8/2016 09:22

About half a dozen or so only got in around the 15 pence mark this morning, nothing to worry about, more likely to rise about 20% today.

[sja123] 23/8/2016 09:21

OK, I've re-read the RNS carefully and concur with Charles Clore.....the wet sieving and extra processing is indeed an option going forward to commercial mining and doesn't appear to have a material effect now....so scoping study figures are still very much in play for trial mining...

"The Company considers additional work should be undertaken in confirming the processes and results on upgrading the product, however, this will not form part of the trial mining phase."

...and it is all good, as it may simply lead to more profit for their product!

Never meant to mislead....important to read ALL the RNS....right to the end!

All imo etc

[glenkaz] 23/8/2016 09:10

Mmm! Feel a drop coming! Traders got in at 15p!!!!

[sja123] 23/8/2016 08:56

Agree soulsauce...in business terms, it makes perfect sense...

[shakeypremis] 23/8/2016 08:48

Charles, that's what I meant, they haven't decided what to do yet. It would make sense however to go for that extra return.

[soulsauce] 23/8/2016 08:47

It makes complete sense for HMI to have a variety of product to suit individual needs which I assume will be priced accordingly.

The mgt here are doing a great job here exploring all the options and developing the company accordingly.

[glenkaz] 23/8/2016 08:46

There will be big winners and losers today for sure 🤒

[charles clore] 23/8/2016 08:46

shakey - they haven't opted for more processing! It's an option though which could make a few more quid a ton!

[shakeypremis] 23/8/2016 08:45

Right you are sja123. Still they can only have opted for more processing as they believe it will add value (more return on investment etc). Additionally, maybe they can fund that with existing funds or fund it with proceeds once this gets in to production.

[charles clore] 23/8/2016 08:44

sja - As I said last week, I would be surprised if HMI got to production without a fund raising but that is not to say it is nailed on. Also if you read the RNS carefully you will see that there are no definite plans to wet sieve, which in itself would not be a difficult task:

Commenting on the agronomic and metallurgical test work, Executive Chairman of Harvest, Brian McMaster stated:

"These latest results are excellent and well beyond our expectations, in particular regarding the solubility, which we believe, is better than for any similar product currently in the market. Additionally, the ability to further uplift the product grade through simple wet-sieving, demonstrates that we are developing an attractive product range, which could be varied to target specific crops and customer uses.

All good matey!

[soulsauce] 23/8/2016 08:41

sja makes complete sense if the product is then sold for $80 or $100 dollars instead of $50, the leverage there is enormous.

fission when will TLOU be cash generative please?

[andrbea] 23/8/2016 08:39

what a yawning gap!

sxx is 72 times bigger (mkt cap). LOL.

[sja123] 23/8/2016 08:39

The quote was from a Stocktube interview on the 15th August, re-gurgitated by DirectorsTalk today....so not as old as I thought! Doesn't time fly when you're having fun...lol...

[sja123] 23/8/2016 08:35

Sorry mate, but check the date....that quote is from an interview a week or two ago....since then there appears to have been a slight re-think....

Look, I'm not saying any of this is bad news....it's great, but it does slightly change timelines and capex if more processing is needed to make a more saleable product mix...

I'm invested here...not a trader and will be here for a good while as I see a much bigger company for those with patience and willing to hold more than a day..

But a change in processing does change the figures in the scoping study....I'm happy...but I think a fund raise is now more likely than not....

I don't see that as a negative...although I know a lot of folks do!

All IMO etc

[dice1950] 23/8/2016 08:33

CHAL

Cash rich and now this looks like Jakarta cash is on the way 9m and a 3m mkt cap no brainer

Challenger Acq Ltd
Extension Agreement with Starneth Vendors
RNS Number : 8778H
Challenger Acquisitions Limited
23 August 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.



For Immediate Release

23 Aug 2016

Challenger Acquisitions Limited

("Challenger" or the "Company")



Extension Agreement with Starneth Vendors



Challenger Acquisitions Limited (LSE: CHAL), a leader in the Giant Observation Wheel industry, announces that it has reached agreement with the three vendors of Starneth regarding the second cash installment payment ("the Payment") that was due on 15 July 2016 (see RNS dated 16 July 2015).



The Payment of €1.25 million that was due on 15 July 2016 will now be paid on the earlier of the financial closing of the Jakarta project or 50% of the balance on 15 January 2017 and the remaining 50% of the balance on 15 April 2017. The Payment accrues interest of 5% from 16 July 2016 and is secured by one common equity unit of New York Wheel Investor LLC held by Challenger until the entire cash payment has been made.



Mark Gustafson, the Company's Chief Executive Officer said: "We wish to thank the three Starneth vendors for their flexibility on this matter. We believe the revised terms provide a more appropriate alignment of stakeholders in Challenger."

[shakeypremis] 23/8/2016 08:29

sja23, regarding your comment about more cash being required, this was what the chairman said today:

“We’ve got something that’s really cheap to operate, really cheap to build. We’ve got enough cash already to get the project into production and it’s something that’s really quite special."

[miahkaysor] 23/8/2016 08:27

Couldn't give a toss about where current share price goes, im leaving it for long term!The rns couldn't get any better, we should be trading around 30p easily! But like I said this will be really big so I'm long.Good luck to all shorters!

[glenkaz] 23/8/2016 08:27

Crazy man!!!!!! 🤒

[soulsauce] 23/8/2016 08:25

cyberhub SMA has the potential when news comes.

[charles clore] 23/8/2016 08:25

fission - filtered for repeatedly ramping your own investment on this thread. TLOU is a high cost complex gas explorer requiring rigs to penetrate over 1000m. So many things to go wrong it's not worth considering when you have stocks like HMI with low cost and high margin. Go away and do the research and the sums - I think TLOU will be heavily diluted before they get any gas out of the ground.

[dice1950] 23/8/2016 08:22

Harvest Minerals reveals better than expected test results for Arapua project
August 23. at 7:48 am

[sja123] 23/8/2016 08:21

MMs moving it about to get a feel for where the price should be....some may read what I would see as a good RNS negatively, in that wet seiving is extra processing which may entail more capex and so a fund raise in the offing....

Personally, I think a raise soon would be prudent....money will be needed to get all this going.....McMaster originally talked of a crush and sell product....now it seems they may want to process a little more to get best money for the product....good long term business but may require more cash in the short term...

All IMO etc