Horizonte Minerals Share Discussion Threads

[koti4] 19/12/2023 17:02

Wish I hadn't taken the plunge at 42p and no won't be averaging now as this will be going into admin at some point, will revisit if they get funding away

[stansmith1] 19/12/2023 16:24

strowremind of us when you bought/sold/what your position isi assume you have a position as you criticised others for posting after they had sold?

[strow] 19/12/2023 16:11

Will remind you when you are wrong again

[strow] 19/12/2023 16:10

Just to remind you Nigel,you are wrong

[dead duck resources] 19/12/2023 16:06

Unrestricted cash down to $7m. Overdue creditors demanding payment end of next month.
If 3 months interim funding not forthcoming administration awaits. Buyers very brave.

[tomboyb] 19/12/2023 14:57

Money runs out next month -

RNS out -

However -

As announced on 14 November 2023, the Company reduced construction activities at Araguaia, progressing only critical work streams in order to manage the Company's liquidity, whilst continuing discussions with the Company's cornerstone shareholders and senior lenders. Based on the cash preservation measures undertaken to date, and ongoing conversations with suppliers, the Company now estimates to have sufficient working capital until the end of January 2024. If successful, the discussions with the cornerstone shareholders and senior lenders should avail further interim funding to extend this period.



As of 15 December 2023, the Group had a cash position of US$42 million, of which US$19 million is held in secured accounts relating to Araguaia's project financing and US$16 million is segregated for the development of Vermelho, with the balance of US$7 million spread amongst other entities for the ongoing running of the Group.

[nigelpm] 18/12/2023 23:34

No financing news is all that matters. I'm inclined to think it's going into admin sadly.

[stansmith1] 18/12/2023 23:29

New board appointments apparently good for existing holders.
So they go from 90% down to 80% down?
Would it not have been easier to sell in the days after the bombshell RNS? Or after the previous raise when it became obvious what was going on?
LSE is just hilarious, people down 90% calling everyone not holding or cheerleading negative, while cheering anything - the immaterial board appointments being the latest example which has no bearing on the funding solution.

[stansmith1] 07/12/2023 14:17

kotiapparently you are a doom monger if you said 170 to 9p in the space of a few months is going down the toilet...in most peoples books that is a wipeout...not the bulls here though its all to play for...they cannot move on from their original loss and are throwing good money after bad hoping to get back to 20p...although the same people also bought at 20p...

[stansmith1] 07/12/2023 14:01

strowyou said someone is definitely accumulating, presumably you can back that up?

[strow] 07/12/2023 13:45

On just over 1m shares traded Don't think so

[koti4] 07/12/2023 11:31

Going down the toilet, yet another short term punt becoming a long term investment lol

[wooster4] 06/12/2023 18:46

Even stan's stopped posting for a couple of days!!! Must have something better to do......

[twigs3] 05/12/2023 09:54

Wasarunner on LSE has come up with a good point as it doesn’t appear that la mancha can hold private company investments so they will have to do all they can to make this work out.

[stansmith1] 04/12/2023 14:36

good post...the reason i think for the rub is strows naivety...the outcomes many think are odds on are completely typical on aim...thats why they have that view, strow is advocating an investment case based on people behaving in a more generous manner than they need to...lovely thought , but he needs to get real, i think my worry for him is misplaced though as it turns out he had traded this with stops that kicked in after 70 and 18, so he hasnt lost much

[klondykejohn] 04/12/2023 12:45

I am not a shareholder here, but would put a few points over if I may.
LM have appointed a financial director into the Company, and an ex Glencore director will be joining him. Surely one of their first tasks is to stem the flow of money out of Horizonte. Stop stockpiling. 131m tons is enough for now.
Halt any work on the second project. Not neccessary yet.
Review and re-negotiate existing contracts and get rid of peripheral staff. If the project is behind schedule, then find out why. If it is contractors or supplier delays then fine them. Even better sue them.. Investigate where the money has gone. If the project costs were undervalued then find out the reasons why.
I could go on.
The project is well beyond 50% built and I would suggest that existing monies can be stretched out to continue the plant build.
They are both very skilled financial people and yes, they can declare bankruptcy and buy up the site at a pittance, but surely, their first tasks should be to try and continue the site development and to try and get additional funding.
This project appears to be a vast money maker for existing shareholders for years to come.Failure to act to save the project would be a body blow to the smaller shareholders and would be seen to smack of corporate greed.
I feel for the smaller shareholders, but give the new BoD some time to assess the situation. They may yet pull the rabbit out of the hat.

[jaknife] 03/12/2023 21:56

strow,

"If you were LaMancha and Orion wanting to sell your stake on to Glencore in 5 years time,what would you do at this point ?
Wiping your original investment out makes absolutely no sense at all"

You could not be more wrong. To illustrate that let me propose a simple example ... which is the better option for the Key Shareholders?

A. Invest $250m into the existing listed company to take a 97.5% stake leaving retail shareholders with a 2.5% stake.

OR

B. Invest $250m into a NewCo that takes a 100% stake leaving retail shareholders with nothing.

If you can't see that option B is worth more than option A then I'm afraid that you are doomed to be a retail shareholder forever. Only a real pro can see that option B is plainly and obviously better than option A.

Yes, "Wiping your original investment" makes perfect sense! Only an amateur would think otherwise!

JakNife

[stansmith1] 03/12/2023 21:03

yeah, maybe if you declared your position at the time instead of after the fact it would be less of a puzzle

[strow] 03/12/2023 20:41

Hopefully more pieces to the puzzle this week

[strow] 03/12/2023 20:40

If you were LaMancha and Orion wanting to sell your stake on to Glencore in 5 years time,what would you do at this point ?Wiping your original investment out makes absolutely no sense at all

[stansmith1] 03/12/2023 19:53

you never did tell us when you sold (or supposedly sold) on the way down....now you are claiming you got rid of your purchase at 18 (which you claimed would be the base)..although you were the first person to criticise others for selling and having the temerity to post here...now youre telling us youve been out several times after the fact, youll realise how that all looks...let me guess you bought them all back at 7p

[strow] 03/12/2023 19:33

Actually if you all have that much conviction with stops then it's obvious why so I shouldn't even be asking myself