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Horizonte CEO and CFO quite rightly sacked, now for shareholders to get screwed one last time

By Tom Winnifrith | Monday 27 November 2023

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.

After the admission of a shock £188 million cost over-run for the Araguaia Nickel mine in Brazil, it is quite right and proper that CEO Jeremy Martin and CFO Simon Retter have been given the order of the boot by Horizonte Minerals (HZM). I am pretty sure that both will get huge payoffs and will not need to resort to crowdfunding to keep bread on the table. Next up will be the final shafting of shareholders. Yes: their suffering is far from over.
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