Horizonte Minerals Share Discussion Threads

[excellance] 02/4/2024 09:28:54

Stay of execution while senior debt holder allows stakeholders reasonable time to make an offer that makes them more money.

[goforgold1] 02/4/2024 08:41:10

READ THIS PART BANK TAKING THIS 100% . This is finished for shareholders. Gojng get nothing wow . Fraud at the highest level. .Going forwards and as announced on 28th March 2024, there can be no guarantee that senior lenders will consent to further extend the current waivers. If no extension is agreed, deferred interest originally payable at the end of December 2023 and at the end of Q1 2024 will become immediately due and payable on 1st May 2024. If these amounts remain unpaid after becoming due and payable, the senior lenders will be entitled to: (a) immediately cancel the undrawn portion of the senior debt facility; (b) declare all outstanding senior debt amounts (including interest) immediately due and payable; and/or (c) seek to enforce the senior lenders' security, which encompasses all or essentially all of the group's assets.

[shinnas] 02/4/2024 07:27:36

This will survive...they dont want admin

[koti4] 02/4/2024 07:25:40

RNS Number : 8999I
Horizonte Minerals PLC
02 April 2024

NEWS RELEASE

2 April 2024



HORIZONTE CORPORATE UPDATE


Horizonte Minerals Plc (AIM/TSX: HZM) ("Horizonte" or the "Company") announces that as part of the interim funding package as announced on 27th December 2023, pursuant to which the existing senior lenders had agreed to waivers including the deferral of interest originally due at 31st December 2023 to the end of February 2024 and subsequently extended to 29th March 2024, as announced on 1st March 2024, such senior lenders have now agreed to further extend the waivers until 30th April 2024.



Going forwards and as announced on 28th March 2024, there can be no guarantee that senior lenders will consent to further extend the current waivers. If no extension is agreed, deferred interest originally payable at the end of December 2023 and at the end of Q1 2024 will become immediately due and payable on 1st May 2024. If these amounts remain unpaid after becoming due and payable, the senior lenders will be entitled to: (a) immediately cancel the undrawn portion of the senior debt facility; (b) declare all outstanding senior debt amounts (including interest) immediately due and payable; and/or (c) seek to enforce the senior lenders' security, which encompasses all or essentially all of the group's assets.



As announced on 14 March 2024, Araguaia Níquel Metais Ltda ("ANML"), the Company's Brazilian subsidiary, has been granted an injunction (Brazilian Precautionary Measure) giving it a 60-day stay period against the enforcement of debt and certain security held by senior lenders and creditors, in order to negotiate and work on a restructuring plan to be approved by its creditors.



As a guarantor of ANML's debt under the senior loan facilities, if claims are made in relation to the guarantee given by the Company, the Company may also need to consider applying for protective measures that may be available to it, or alternatively appoint administrators for the Company in the UK.

[impossible123] 01/4/2024 18:03:51

'JakNife', thanks for the info. I've been in this game for over 3 decades with a break of maybe 4 years, but never shorted a stock.

This was my 2nd bite into HZM (another then was BEM and BAO), but deemed extremely lucky to get out within 10 mins of market opening at 76p average; tried to unload 12.5k stocks but market size restriction meant could only sell in 3 blocks thus averaging 76p.

I hope most still holding could recoup some losses when HZM is refinanced, and relisted at some stage with retail investors given a chance to partake (again). But, I'll not be amongst them.

Good luck everyone still holding!

[jaknife] 30/3/2024 16:36:08

impossible123,

"Out of interest what would happen if one still holds a short position post a suspension? This is a genuine question as I do not short."

What happens depends very much on the specific circumstances, but assuming Horizonte is "normal" then within about three months of suspension an administrator's report will be published that gives some basic facts but is vague about the possible recoveries for investors.

Then six months after that an updated administrators report is published which makes it crystal clear that creditors stand to get a fraction of their claims and shareholders stand to get nothing. The spread bet firms will then settle all longs and shorts at zero.

In the meantime though generally (a) your position is marked at the suspension price and subject to 100% margin, and (b) you pay interest and borrow fees, which would be in the ballpark of 5% on a short.

Personally I'm happy to hold and wait for the zero because, no matter what the suspension price, you're going to get paid out after about nine months:

100% of the suspension price

less 9 / 12 x 5% x suspension price

which is always greater than zero.

JakNife

[amaretto1] 30/3/2024 16:05:27

You don't want to be holding short on suspension Can take 6 to 12 months to settle All depends on your financial situation Not much left in it at this price anyway

[impossible123] 30/3/2024 15:12:30

Out of interest what would happen if one still holds a short position post a suspension? This is a genuine question as I do not short.

[impossible123] 30/3/2024 15:09:01

I can see two probable scenarios here.

1) New funds materialised, but existing holders will be wiped out.
2) Funders will be from within, and new entrants eg major holders; existing
retail investors will be frozen out.

If relisting just maybe retail investors would be invited to participate. Would anyone be foolish or blindingly brave to partake again?

[strawberry alarm clock] 29/3/2024 22:14:22

deltalo post 3.5p is a steal no doubt about it and it's offering it you on a plate. I have my bit of the pie , take yours. Atb

[excellance] 29/3/2024 21:46:16

And some newby numpties piled in after the news hoping for a miracle

[impossible123] 29/3/2024 19:36:29

A 138 posts since I last posted. I held at 130p; sold 1st thing morning post a capex shortfall RNS.

I only managed to get 76p average. I was cursing as I did think seriously about selling the friday before given persistent drip-selling despite no adverse news on funding or project update.

I followed HZM since. And, I feel sincerely sorry for those who've held since that calamitous RNS.

[jaknife] 28/3/2024 16:22:26

excellance,

"But Jac, it wasn't long ago that you were long HZM. Wasn't that "tip" on your website?"

I have never been long of HZM in my entire life. I am short and have been short since last October. And I have zero intention of closing my short in the next ten minutes and have no idea why you would make such a suggestion.

Might I suggest that you don't appear to have a clue what you're talking about?

JakNife

[excellance] 28/3/2024 16:10:44

Longs and shorts have 20 minutes to close your positions and get the hell out!

[excellance] 28/3/2024 16:09:37

But Jac, it wasn't long ago that you were long HZM. Wasn't that "tip" on your website?

[mcpaulas] 28/3/2024 15:41:38

Well i think thats it for this company.Adding it all up with debt refinancing and new finance to complete the project to production they need a billion dollars.

[ny boy] 28/3/2024 15:21:59

This load of pish has been worthless for ages, just mug punters got sucked in, keeping it on life support.So many of these worthless stocks around that are highly likely to have a trap door moment

[aimscam1] 28/3/2024 15:09:50

LIQUIDATION COULD BE COMING VERY VERY SOON . IN MY OPINION