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Please note that the Company was placed into Administration on 16 May 2024 and Chad Griffin and Geoff Rowley of FRP Advisory were appointed as Joint Administrators.
The Joint Administrators will be winding-down the Company’s operations following which it will cease trading.
Should you have any queries regarding the administration, you can contact the Joint Administrators on hzmplc@frpadvisory.com.
The Joint Administrators act as agents of the Company and without personal liability.
The Company entered Administration on 16 May 2024. The affairs, business and property of the Company are being managed by the appointed Joint Administrators Chad Griffin and Geoffrey Paul Rowley.
The Company intends to become a globally significant producer of nickel in the form of ferronickel as well as nickel and cobalt sulphate. The strategy is to continue to progress the development of the 100% owned Araguaia project towards construction as well as continuing the feasibility work on the Vermelho project. The Company also evaluates on an ad hoc basis with a view to eventual acquisition, exploration and development of mineral projects in jurisdictions in which it holds a presence, and/or in sectors in which management has expertise.
The exploration and mining business is controlled by a number of global factors, principally supply and demand which in turn is a key driver in global metal prices; these factors are beyond the control of the Group. At every stage of the exploration process the projects are rigorously reviewed, both internally and by qualified third party consultants to determine if the results justify the next stage of exploration expenditure, ensuring that funds are only applied to high priority targets.
The Group’s licences and operations are located in foreign jurisdictions. As a result, the Group is subject to political, economic and other uncertainties. Brazil is the current focus of the Group’s activity and offers stable political frameworks and actively supports foreign investment. It has a well-developed exploration and mining code with proactive support for foreign companies.
