HRZ

2.33%

4.4¢ horizon minerals limited

HRZ Management and Future, page-34

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Lowkeyinvestor

4,234 Posts.

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19/04/24

12:01

Post #: 73423821
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Originally posted by Lowkeyinvestor: ↑

Hi coto the simple answer is I don't yet know enough, I do expect more information to come out from Greenstone board before the vote.
I have concerns to do with the $400K loan from Horizon to Greenstone to meet the costs of the merger, recently Greenstone received the $1.9M (less costs) out of court settlement so the $400K loan is not needed. Furthermore it seems to me that this settlement was not expected and the use of this new money needs to be explained as the last communication I had with Greenstone was that if the merger did not go through a small cap raise would be required "to keep the lights on", so the money was not planned or it was anticipated but came early.

One thing is for sure I have issues with GSR board and the way they diluted the registry and directors intensions to vest 37,250,000 unvested performances rights relating mainly to the unpublished and way late Mt Thirsty cobalt/nickel scoping study. The merger implementation deed requires these performance rights to be cancelled or vested.

Had this merger not been proposed I would have been happy to use the $1.9M to get Burbanks North contracted with partners to mine it.

So more information is needed and I would like to see Greenstone directors NOT vest those performance rights as that will have an influence on my vote.

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Furthermore if I had my way I would sack CEO Chris Hansen and Chair Mike Edwards and bring back Sean Gregory as CEO / MD.

HRZ Price at posting: 3.4¢ Sentiment: None Disclosure: Not Held
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Last 4.4¢		Change 0.001(2.33%)		Mkt cap ! $49.21M

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HRZ Management and Future, page-34

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HRZ Management and Future, page-34

Top Stories

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