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HZM Horizonte Minerals Plc

0.325
0.00 (0.00%)
29 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Horizonte Minerals Plc LSE:HZM London Ordinary Share GB00BMXLQJ47 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.325 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores -5.32M -0.0197 -0.16 863.29k
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.325 GBX

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Horizonte Minerals Forums and Chat

Date Time Title Posts
19/5/202411:47Horizonte Minerals: Nickel and Cobalt15,054
16/5/202418:24Horizonte Minerals - 20181,526
11/7/202215:13Cannot buy more shares via my broker13
31/7/201811:05Horizonte Minerals (HZM) One to Watch -
29/12/201719:39Horizonte Minerals: Nickel140

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Horizonte Minerals (HZM) Top Chat Posts

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Posted at 28/5/2024 09:20 by Horizonte Minerals Daily Update
Horizonte Minerals Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker HZM. The last closing price for Horizonte Minerals was 0.33p.
Horizonte Minerals currently has 269,778,906 shares in issue. The market capitalisation of Horizonte Minerals is £863,292.
Horizonte Minerals has a price to earnings ratio (PE ratio) of -0.16.
This morning HZM shares opened at -
Posted at 26/4/2024 19:24 by impossible123
HZM was hindered with a couple of monumental world issues ie Covid and the Ukraine War which meant massive disruption and big increases in costs all round. The former could have been absorbed; Putin's madness in Ukraine was too insurmountable for a minnow miner without revenue like HZM.

Just not to be, I think. Notwithstanding, senior management could have been a lot more transparent and savvy eg contingency funds aplenty for unavoidable over-runs prior to production.
Posted at 15/4/2024 12:50 by excellance
For HZM investors it doesn't matter who gets it. HZM holders will lose everything after contributing half a billion dollars.
Maybe someone will bid more?
Posted at 06/3/2024 07:06 by strow
Never lied about my position Have learnt a few lessons which I would not repeat mainly about setting stop losses Have repeated for people like Nigel and others-no admin which thus far is correct Never ever said share price wouldn't drop but no one has a crystal ball and have promoted bull case based on asset value which is still more now than when BFS was done based on continued low power costs,increased nickel price and forex advantages.We will see what happens,but was not the only one not to predict the savagery of the market here.
Posted at 24/2/2024 05:28 by amt
I think one thing to bear in mind is that when the share price was 1.50 it already included a big risk premium that something would go wrong. If everything had gone to plan the share price would have been 10 quid. So there still might be value at 4p. Equally the minerals in the ground might be fantasy and only a fraction of what we believe them to be. Equally there could be a lot more in the ground. Anyway as I mention if there is a potential world nickel resource here some big company will step in.
Posted at 20/2/2024 11:44 by jaknife
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
Posted at 09/1/2024 09:09 by steeplejack
Well,that would be the assumption!However,one really doesn't know.The current situation here is a dream ticket for proprietary books to perpetrate rumours and drive the share price hither and thither in concert.Punters naturally seek to apply an explanation to fit the share price move but it could well be just 'boys with toys'.
Posted at 03/12/2023 13:01 by jaknife
stansmith1,

"why would they leave anything on the table for current shareholders?"

This is a really good question to ask because existing shareholders need to work out what exactly they have to offer. Traditionally this boils down to two items:

1. Retaining the existing share quote,
2. Cooperation, which could make any "process" materially smoother (eg assistance in avoiding breaches of contract, events of default, etc).

In this case 2 is pretty weak because the expectation is that the key shareholders probably have more than enough votes between them to pass 50% resolutions.

On 1, it's always been the case historically that *IF* the major shareholders want to retain the existing share quote then they need to incentivise existing shareholders to vote in favour of a 75% shareholder resolution so that a material number of additional shares can be freely issued.

So the key question is: "Do key shareholders want to retain the existing quote"? *IF* that's the case then how much are they prepared to pay shareholders in order to retain that quote. In that respect I would note:

(i) the amount that the key shareholders might be prepared to pay should be compared to the alternative cost of them simply wiping out shareholders and then relisting. At the max that's not going to be more than about £5m in legal fees.

(ii) I deliberately wrote the word "historically" above. There has been a change in legislation in the UK which has yet to be fully tested in circumstances like this (and I doubt that HZM would want to waste the money being the test case). The change is the "Restructuring Plan", of which you can read more here:



There's a lot of risk and uncertainty as well as legal costs associated with a "Restructuring Plan" and so it's incredibly unlikely that HZM would want to go down that route. But if they did, and won, then they could retain the quote and wipe out existing shareholders.

After all that waffle the conclusion is that *IF* the key shareholders wanted to retain the existing share quote then they will need to "bribe" existing shareholders to vote in favour of a 75% resolution. Such "bribe" needs to be around about £5m and that equates to about 2p a share, which is exactly what ScepticalInvestor suggested.

Of course if the key shareholders don't want the quote then the existing shares are close to worthless.

JakNife
Posted at 23/11/2023 23:03 by stansmith1
lol, now youve deleted your post, what a wretch..at least we have a record of itdrwatson wrote...With all due respect Nige you seem to be forgetting that this mining project is over 60% complete and is worth multiples of its current value. Why do you think new money is required or will be allowed? HZM have plenty of options.---ok, so the above is you not saying hzm dont need new money and 50p is not multiples of 22p and hzm wont be allowed to raise new money...lolwrong on every count, share price has more than halved and are in financing talksglad we cleared that up..you are determined to prove to everyone you are a total moron arent you:)i said at the time you were nothing but a lying ramper and was proved correct
Posted at 23/11/2023 22:36 by stansmith1
With all due respect Nige you seem to be forgetting that this mining project is over 60% complete and is worth multiples of its current value. Why do you think new money is required or will be allowed? HZM have plenty of options.---ok, so the above is you not saying hzm dont need new money and 50p is not multiples of 22p and hzm wont be allowed to raise new money...lolwrong on every count, share price has more than halved and are in financing talksglad we cleared that up..you are determined to prove to everyone you are a total moron arent you:)
Posted at 21/11/2023 22:04 by jaknife
nigelpm/stansmith1,

At this point I put the range of outcomes as:

A. 50% - key shareholders walk, the project is mothballed, the bank enforces and takes ownership. Leaves HZM as a cash shell with negligible cash.

B. 45% - key shareholders fund the project away from the market leaving HZM as a cash shell with negligible cash.

C. 5% - key shareholders fund the project on market at a material discount to the current share price at, say, 2p a share.

Do you violently disagree? Have other options?

JakNife
Horizonte Minerals share price data is direct from the London Stock Exchange

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