Horizonte Minerals Share Discussion Threads

[steeplejack] 19/2/2021 09:33

https://www.proactiveinvestors.co.uk/companies/news/941780/horizonte-minerals-raises-18mln-to-fast-track-araguaia-ahead-of-project-financing-941780.html

[qs99] 19/2/2021 09:30

Security is key IMO, if they have had to take a bigger discount to get the fundraise away then so be it. I've bought more anyway as think this is in a good place, not far off production / cash flows and in the right area....18 month view we will be laughing at 7.5p I hope!

DYOR and good weekends
Cheers
QS99

[steeplejack] 19/2/2021 09:22

The placing,near a 1 for 6,wasn't what most were hoping to hear.News of offtake agreements would have been more readily welcomed than a discounted placing of well over 20% to the share price over the last week.Makes you wonder whether the brokers haven't managed to massage the price up ahead of this fund raising.Anyway,its done and i suppose that 7.5p becomes the long stop support,i would have thought a placing at around 8p was perfectly achievable but the stock is pretty volatile.The placees have got a freebie here and time constraints and expense mean existing private client holders have been 'circumvented' as usual.Nothings really changed other than we've had a fund raise at what i consider is a disappointingly low price.

[twigs3] 19/2/2021 09:13

25mil shares traded in the first hour!

[harrisun] 19/2/2021 09:02

gilotron
Even with my criticism if the price drops back to at or near placing it should not stop shareholders making a profit, although I'm of the view also that this company will be taken over before too long.

It does though diminish the potential returns over and above the dilutive effect of a placing as obviously the dip in the share price has to be recovered first.

[cashstrapped] 19/2/2021 08:56

Yes nothing like timing the market is there! Think this will recover though GL

[gilotron] 19/2/2021 08:39

Classic. I just bought in yesterday after dithering. Oh well at least I only bought a few

[harrisun] 19/2/2021 08:37

The announcement today demonstrates perfectly that there was absolutely no need to announce yesterday of a proposed placing. All it did was damage the share price to make the discount look more realistic based on a reduced share price

Shocking move that must have been anticipated

Of course companies use placings, that's of necessity, but how they are effected demonstrates either good procedure or bad. I leave the share price to suggest today what that was.

[jodalu] 19/2/2021 08:31

I agree on the open offer but it seems that most companies go for the annoying placement
In any case I have topped up this morning in hope that this is the bottom and news on finance will now becoming

[craigieboy1] 19/2/2021 08:07

I do agree with that, but I sincerely hope out turn comes with the remaining piece. Time will tell. Time to trust in Jeremy and co.

[cgequityinvest] 19/2/2021 07:50

As like you I will top up at 7.5p if I can. My argument would be that there should have been a right for us to do so via an open offer to existing shareholders. My question to the board is why no open offer and will you disadvantage private shareholders again in the future.No problem with strategic intent and indeed it gives comfort about timetable but I don't like instils being able to benefit at my expense.

[qs99] 19/2/2021 07:09

I will top up if there is an opportunity at 7.5p, good strategic move IMO, lead times must be large on equipment given covid.....

[leoneobull] 19/2/2021 07:03

Placing 7.5p GLA

[craigieboy1] 19/2/2021 07:02

I disagree. I think this is a strategic gem. Just my view.

[nigelpm] 19/2/2021 07:01

Disappointing to dilute equity particularly at a large discount but hopefully accelerates the project. Clearly delays were starting to creep in.

[craigieboy1] 19/2/2021 06:59

Nickel motoring so great timing for this.

[craigieboy1] 19/2/2021 06:54

It will be an interesting open today. Potential for news saying the book has closed. Could be a fall then a sharp rally, hard to call but for long term holders it’s progress towards the final deal. Traders may be the ones to take a hit if they need to close trades.
I did think today that perhaps the cornerstone investor has said I will commit x amount, then this £18m could be the gap.
Ideally to follow would be an offer to existing shareholders for the final equity piece with the cornerstone taking the balance. If that’s the case then we are nearly there and this is gap filling in a very smart way. Exciting times.

[twigs3] 19/2/2021 06:48

Going to be an interesting day for sure, nickel now trading closer to 20k than 19k!

[twigs3] 19/2/2021 06:41

So is 7.5 the minimum and it’s just underwritten at that price.

[cockneytrader] 19/2/2021 04:06

Question: Why an accelerated book build? Maybe it's a pre-requisite to financing, don't be surprised if the whole finance deal falls in to place very soon following result of the placement. Perhaps as soon as tomorrow!

[excellance] 19/2/2021 01:09

Folks, I've seen this before!

We can forget about the "senior finance" it won't happen, we are about to get taken over.

The accelerated book build of 240m shares at 7.5p is purely to reward interested parties.

I've been saying this for weeks. This is the reason for the delay, they don't need any finance it's just a ruse, these will be taken over in weeks.

[excellance] 19/2/2021 01:05

Placing 240 million shares at 7.5p by way of accelerated book build to new and existing investors.

Why?

Well, I've seen this before, we are about to be taken over and interested parties want their fill...

See RIFT a decade or so ago, where they placed shares with warrants weeks before t/o, and even at EUA last year they did the same...

[backinblack80] 18/2/2021 23:42

lol, someone voted my earlier post down?