Horizonte Minerals Share Discussion Threads

[lw425] 20/2/2024 11:46

The equity is worthless. Completely worthless.

[jaknife] 20/2/2024 11:44

steeplejack,

"its a choice between incompetence or deceit."

I'm a little more forgiving as there is a genuine third option - inflation has gone ballistic over the last couple of years and seemingly wasn't properly baked into the originally estimates.

Back in October, when HZM first announced that there was going to be a cost overrun, they did use the phrase "an expected increase in the overall Project capital requirement by at least 35%" [my bold].

see:

To the extent that there was any dissembling then it was in those two highlighted words.

But even back in October, armed with that RNS, there were still plenty of shareholders who refused to accept that the cost overrun was going to be 35% of the original budget (arguing it was 35% of the remaining budget). Shareholders were too slow to take on board the new information, accept the meaning of that information and accept the natural consequences of that information.

The natural conclusion now is that the probability of HZM being a zero is easily in excess of 90%. At best the existing debt providers need to write down a significant chunk of their debt and a hugely dilutive equity raise is needed. I can't see any reason why retail shareholders would need to be involved in that process. At worst it makes no sense to proceed with the project at the current cost and it should be mothballed.

There is no good outcome for current retail shareholders even at this price.

JakNife

[steeplejack] 20/2/2024 11:00

The initial estimate of a 35% cost overrun of around 190m dollars has mushroomed to an 87% overrun,a capital requirement of a further 454m.Its a disgrace that at the time of the interims back in August,Jeremy Martin was able to assuage investors that things were pretty much on track.This reaffirms that investing in AIM listed junior resource stocks (oil or mining) is with the odd exception guaranteed to result in losses for all but lucky traders.The old adage,'better to travel than arrive',is the kindest comment that can be applied.When appraising management,its a choice between incompetence or deceit.Highly unlikely that there's going to be anything meaningful left for existing shareholders.

[ny boy] 20/2/2024 10:37

Far too many AIM plays that need to pack up go home, just nonsense Companies, draining shareholders of gamblers of money, far to many trap door events

The chart tells you all you need to know 150p on the way to zero

[deltalo] 20/2/2024 10:25

Should do well from down this level, I had NT earlier also. Waited ages to get an order. Gl

[mally6] 20/2/2024 09:29

Can't buy now ng trades only look like 5p on cards

[deltalo] 20/2/2024 09:27

I've bought £4500 quids worth at 3pThis could bounce hard when sellers out.

[the stinger] 20/2/2024 09:23

5p all day... down to 3p for the big holder selling..

[tomboyb] 20/2/2024 09:10

Bought a tiny amount in case it goes 4p+ -

Otherwise a He1 -

[stansmith1] 20/2/2024 09:09

surely twiggy, wooster, chopper or strow are best placed to answer that - they have either been buying or complaining that people who CONTINUE to call this right have an agenda and cant be trusted...

170 odd to 3p

do they get it yet?

will they get it 0.5p? or will it just be a bigger bargain?

[tomboyb] 20/2/2024 09:08

Thats not to say you can't trade it -

[the stinger] 20/2/2024 09:07

30p in a couple of years!

[tomboyb] 20/2/2024 09:07

The Company notes that additional interim funding will be required to implement such full funding solution.

They will need short term funding as well -

[tomboyb] 20/2/2024 09:05

Where should this be priced? -

[the stinger] 20/2/2024 09:03

Priced too low... bargain now, 5m MC!.

[stansmith1] 20/2/2024 09:02

2,500,000
amazing what £75k buys you these days, not long ago you couldnt buy 50k for that price

[luckyabbeygale] 20/2/2024 09:00

Feeling sick that I never sold other stock to spreadbet these at 2.75p. Looks like that was the opportunity of a lifetime.

[stansmith1] 20/2/2024 08:58

actually, although you have been shown to flip flop and promote your own book you were right with your 6p call when the share price was about 70p!

[mally6] 20/2/2024 08:57

2.5mill shares just bought at 3.25

[luckyabbeygale] 20/2/2024 08:54

Look at the buying. Could be major shareholder snapping up on the cheap.

[kirk 6] 20/2/2024 08:52

That's fantastic news

[excellance] 20/2/2024 08:52

The banks have totally exploited Jeremy's inexperience, naivety, and keenness to deliver his baby.

[excellance] 20/2/2024 08:49

3p
I get no pleasure from saying "told ya"