Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Faced with a near-six year low in the nickel price and still arctic financial markets, unloved Horizonte Minerals (HZM) is going slow with the publication of a bankable feasibility study (BFS) on its flagship $580 million (£390 million) Araguia nickel project in Brazil. Following encouraging results from its 10,200-metre infill drilling programme at the project in north central Brazil’s Para State, entrepreneurial chief executive officer Jeremy Martin says the AIM and Toronto-quoted company is likely to delay the study, originally planned for this year to coincide with a resource update for wholly-owned Araguia, until 2016, because ‘the market sucks and we shall probably delay the BFS until we can do some funding.’
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