I am unable to paste the relevant post but this comment by Raymund who attended the AGM I asked seems very interesting to me:
"I asked Jeremy (CEO) about interest in a possible buyout and he confirmed that hes has had approaches but clearly early days still to get fair value. Asking what this would be, I suggested well North of 20p to which he nodded."
posted on LSE by "justsomeguy". Good summary for newbies...
Company FULLY FUNDED for 24 Months to complete the Araguaia & Vermelho 2018/19 work programmes via recent II fundraise of £9.2m (as at 01-Jan-18)
£ Araguaia Feasibility Study at an advanced stage scheduled for completion end of H1 2018 (scope increased to factor in Vermelho saprolite and higher Ni Prices). Key environmental permits and trial mining now complete - major de-risking factors.
£ Araguaia one of the largest un-developed Nickel deposits globally with Measured & Indicated resources of 1.5M Tonnes of contained Nickel. Tier 1 Asset with 28 Year mine life.
£ Araguaia to become the next high-grade Tier 1 nickel mine globally, construction ready by end 2018, producing 2021
£ Araguaia economics based on PEA yield $1.3bn in free cash-flow @ $12k/t Ni price, $1.9bn @ $14k/t price.
£ Vermelho Nickel/Cobalt project acquisition completed December 2017. One of the largest Nickel/Cobalt deposits globally. Vermelho has been through full FS with VALE and had construction approval.
£ Vermelho£s locality to Araguaia offers the chance to £re-run£ economics due to project synergies. Vermelho and Araguaia combined set to make Horizonte a major player in the global nickel/cobalt space with 100% ownership of both projects.
£ Vermelho NI 43-101 resource update delivered May 18 - 117% increase in contained Cobalt to 94,000 Tonnes and 60% increase in contained Nickel to 1.6 Million tonnes
£ Company fully funded for 2018/2019 work programmes
£ Large Institutional backing
£ Two Tier 1 Nickel/Cobalt Assets. Araguaia significantly de-risked FS > 80% complete
with all key permits in place, construction remaining expected 2018
£ Araguaia Ferro Nickel project similar scale/size/location to Cannico Onca Puma project bought for $800m in 2005.
£ Vermelho Nickel/Cobalt project - peer comparisons to CleanTeq Syerston (MCAP: $600M), Australia Mines SCONI: $220M), Horizonte MCAP: $80m
£ Both assets each have the potential to return significant multiples in share price from today£s price.
MexPete - agreed. He came over really well and, during questions, convinced me that he not only knows the company, but also really knows the market that it is in. I always like to hear that the sp (paraphrasing) should be "several multiples from where we are now" and I think that was just in reference to Araguaia.... :D
Have to say, Jeremy and team are really putting together something special here.
Buying Glencores asset was good, but also getting Vales asset is incredible.
Now they have two Tier 1 nickel projects in close proximity.
The combined metal in the ground at current nickel and cobalt prices are:
$31.3 Billion (nickel)
$8.4 Billion (cobalt)
The current market cap is still substantially undervalued and can be many multiples.
FS due out in early 2018.
A list of prime shareholders on the register.
Investment case is a solid buy.
Check out the latest presentation, very impressive. http://horizonteminerals.com/news/20171219_investor_presentation.pdf
i think some of you did not read the rns correctly .two majore share holders increased there stakes significantly ,showing an increace in confedence ,and the sp drops.this is total nonsence .you to should be increaseing your holding .at the preasent time mine life is expected to be 28 years
the seller has declared this reduction of position by 1%so we could get get a buyer declaring there position over a week or so ,but if it is some one new taking a position then they need not declare un till they reach 3% holding in the company
grants for local schools to educate the mines tomorrows employees . that is forward thinking and yet the sp dropped .people can be bloody stupid and just see the short term expenditure and not the long term gain
What's the chances that the big buyer is Glencore? They have tweeted today about being well positioned to exploit the government led push for electric vehicles, with their reserves of nickel, cobalt and copper. I thought Horizonte now held most of what was Glencore's reserves of nickel?
Maybe they think its time they bought it back, work away I say!
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