Horizonte Minerals - 2020 results, transformational year ahead...

EXPOSE: Tern – Snouts in the Trough! Read from Nigel Somerville, the Deputy Sheriff of AIM, HERE

Horizonte Minerals (HZM) has announced 2020 calendar year results and emphasised that it “has made significant progress in advancing the project financing for Araguaia… The completion of this funding will be transformational for Horizonte, and we look forward to updating the market on our progress later in the year”. So what’s the detail?

Disagreements at Dignity continue to get bigger and bigger: Beer & Popcorn time again. Chris Bailey writes HERE

The progress is particularly a syndicate of five international financial institutions mandated for a $325 million senior debt facility to part fund the development and also a “non-binding, conditional term sheet agreed with one major cornerstone equity investor”. At end-2020 there was cash of £10.9 million, total current assets of £13 million (-£7.2 million over the year), current liabilities slightly reduced to £0.6 million and non-current liabilities of £28 million (£1 million increased).

Reviewed HERE: Corero Network Security – full-year results, how “encouraging” are the levels of business activity?

There has since been £18 million of new equity raised and, as noted on March recommendation, this is big project work for a company of this size. However, “transformational” certainly holds – a feasibility study for its Araguaia ferro-nickel project showed a post tax Net Present Value(8%) of $691 million and a pre-feasibility study for its Vermelho nickel-cobalt project a post tax NPV(8%) of $1.7 billion.

Sosandar – Full Year Trading Update as Placing surely imminent, but perhaps attractive. Read more from Nigel Somerville HERE

Although also “the Vermelho project continues to progress”, there remain clear operational and financial risks at this juncture. However, they are set against a current market cap of still not too far over £100 million, the noted metals key due to stainless steel and battery technology uses and “Horizonte is one of very few nickel stories ready to supply”. As such, we target 10p+ on project financing news perhaps boosted by improving sector sentiment.

This article first appeared on HotStockRockets - to catch the next red hot share tip from the HotStockRockets team for just £5.50 click HERE

Filed under: Horizonte Minerals, Tern, Dignity, Corero Network Security, Sosandar, HotStockRockets

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