Horizonte Minerals Share Discussion Threads

[twigs3] 18/2/2021 20:46

Don’t think it will drop much if any in tomorrow think most people think it’s positive after the initial shock. Nickel finished the day over 19200 next stop 20k!!
No wonder they now have a lot more inbound internet for A

[twigs3] 18/2/2021 20:23

I would have thought so JB

[jailbird] 18/2/2021 20:23

Do you guys think whether the debt or equity portion for the pre productions capex now be less than previously expected .?

[cockneytrader] 18/2/2021 20:08

Sounds pretty reasonable. Another piece of the jigsaw. Just don't buy the rubbish of £1 per share. 15 - 20 pence is a more realistic target!

[backinblack80] 18/2/2021 19:50

harrisun, all I did was add info relevant to hzm....
I'm not that impressed with the size of the discount, but nor am I that concerned...
Hopefully, JM will provide more of an explanation.
On a positive note it looks like they are confident and not willing to let timelines slip... and if part is being used for construction elements it may reduce the amount of future equity requirements..bwtfdik

[laurence llewelyn binliner] 18/2/2021 19:02

December 2020 VWAP 6.7p
January 2021 VWAP 8.6p
60 day VWAP 7.6p

Expect a bumpy start in the morning but the more IIs buy in and are on the register the more our credibility grows, and the more options we have available for the balance of funding needed..

If the company are ordering big ticket / long lead items, it is going to happen and we will build it out.. :o)

[twigs3] 18/2/2021 18:45

But was it heavily discounted when arranged? 29th of January we were trading in the 7s

[harrisun] 18/2/2021 18:42

BackinBlack
What do you expect them to say: We've let the world know of heavily discounted placing in advance which is likely to cause the share price to drop to the placing price?

[soundbuy] 18/2/2021 18:42

"The Company acknowledges that it is seeking to issue Placing Shares on a non pre-emptive basis and has therefore consulted, where possible, with the Company's major shareholders ahead of this Announcement."


ie: Fancy some cheap shares.....

[backinblack80] 18/2/2021 18:32

Posted by the watcher on LSE, obtained from Twitter...

I’ve just had a chat with the company, the raise has brought a lot of new north American institutions onto the register, the price with this one was driven by some new names and along the monthly VWAP, it is of strategic importance as it not only bulks up the north American institutional presence for the Canadian market to get interested but because it sets a lot of new funds onto the register who will support the company. It is also of strategic importance because i) it allows long lead items to be ordered and shaving construction time by several months ii) shores up the balance sheet significantly into their current negotiations. It’s another $25million cheque being written for the company showing further confidence in the asset and strengthening their hand considerably.

[harrisun] 18/2/2021 18:25

Always bad form when a company announces the intention to place. It's like Gordon Clown announcing to the world he was going to sell tonnes of gold...in advance.

Now, as its only a proposed placing via a book build....which could and should have been done prior to the announcement, it could now put pressure on the sp, which they should if knowledgeable know about!

So now the world and its dog can short because what usually happens is even if a book build raises enough takers, the market drops (deliberately in my opinion) to at or near placing price, to assuage those that are unhappy with a placing behind the scenes, albeit proposed.

If they wanted to conduct a placing they should have done so, and at not such a large discount which demonstrates they have not got faith in their own company.

yes, they need capital, so best do a good job of it and in my opinion they haven't.

May I suggest that if now the share price gets knocked that those responsible fall on their swords.

[stansmith3] 18/2/2021 18:25

this is aimthere are no rules and assumptions that can be madeif we hear tomorrow that this will reduce the main equity component still to be raised, great, but i doubt it

[soundbuy] 18/2/2021 18:23

Mentioned this on the other BB......what was the Sp. when institutions were sounded out....?

Still grates though.....given the back drop and fundamentals would have expected 5 - 10% above the Sp. at the time. Plus thought that Orion deal would have put a floor on future raises at 10p.

Ho hum.....

[twigs3] 18/2/2021 18:07

Some will say that the raise price is discounted too much, it would have taken a few weeks to put this together and HZM was trading below 8p on the 29th January. Don’t have a problem with it at all if it means we can move forward with the project and the main raise will be at a much higher price, I’m sure the share price will drop a bit tomorrow but will soon recover and some.

[salmonn1] 18/2/2021 18:00

I don't claim to understand what has happened here. but I have two take-aways before JM's explanation which should be issued tomorrow. Firstly there is no leakage of information, the negotiations are a very tight ship, which is reassuring. Secondly the statement that the finance package should be in place in H1 sounds to me as though it is as near to an end point as we have yet had. Re dilution, JM has repeatedly stated that the debt would be around 65% with off-take and equity making up the remainder. We are not outside that yet. One other thing JM says the priority is to keep the project moving forward so it doesn't get sold down by the market. I honestly don't know how much of the above is relevant to this RNS but I hope tomorrow an interview will make things clearer. Oh and don't assume the share price will be lower than today by the end of the month.

[cgequityinvest] 18/2/2021 17:59

Twigs - just feeling sore at the moment - I would have liked action (in the form of an open offer) rather than just words of explanation.

[jailbird] 18/2/2021 17:59

I think I get see why they have done this Getting orders in for construction now as Covid has impacted lead times . Forward thinking here, see reasoning when you read it again Trying to ensure construction starts on time

[twigs3] 18/2/2021 17:55

I look at it as a positive for the same reasons as Craig has pointed out, you need to read the RNS a couple of times, as JB said I’m sure JM will explain in detail in an interview tomorrow hopefully at some point.

[fullbreakfast] 18/2/2021 17:52

I would not mind the price if we were allowed to participate. Really hacked off they have not done an open offer for private investors. This has happened before and private investors were also ignored at that point.

Probably there will be chances to buy in the market at below the placing price in coming days. See e.g. BCN which had a placing a couple of weeks ago and closed below placing price today I think. Not much consolation for holders, I know.

76m warrants issued, too.

Have been looking at HZM as a potential buy but perhaps there's no rush.

[jailbird] 18/2/2021 17:49

Correction , $38m in bank post funding

[craigieboy1] 18/2/2021 17:45

Positives.
We start construction now, reduces main equity piece, puts a floor on the share price, indicates the confidence in the main equity piece completion, brings leverage to cornerstone investor bargaining, ie we can raise money...

Negatives,
Would have preferred a slightly higher price, but my forecast for the main equity was 8p, so this is pretty close.

Equity investors seek a return of 3-5 times investment, so it’s very good news for long term holders, 7.5 x 5 = 37.5p
Overall I am happy with it, no I didn’t know and didn’t participate. Hopefully current shareholders get to participate in the main event.
We must not forget this is gateway financing that unlocks every asset. Another major step towards the end game has been taken. Just a surprise. Jeremy will be explaining tomorrow I would imagine.

[jailbird] 18/2/2021 17:44

But yes no suggestion this would be needed Out of the blue

[jailbird] 18/2/2021 17:44

Will have $35m in the bank now Looks like using the money to start pre-construction earlier so expect equity part to less now and at a higher price.?Look out for JM update to explain this better

[strow] 18/2/2021 17:41

The silence is the worst bit preceeding this and does not at all go along with Jeremys stated promises of non-dilutive progress for shareholders Won't believe that one again I'm afraid Sounds like someone wants in lowerTheir cash burn really can't be that much per month given that very little is being announced and seemingly happen.I would say we all should expect some payback from that roberry