Register
Login:
Share:
Email Facebook Twitter


EXCLUSIVE: Petro Metad go for broke with 6-well fully funded programme
EXCLUSIVE: Rockhopper #RKE tops Malcy's 2018 Interims Bucket List gain


Sirius Minerals Share Chat (SXX)



Share Price: 33.00Bid: 33.08Ask: 33.14Change: 0.00 (0.00%)No Movement on Sirius Minerals
Spread: 0.06Spread as %: 0.18%Open: 33.36High: 33.78Low: 32.96Yesterday’s Close: 33.00


Share Discussion for Sirius Minerals


Thread View

Please login or register to post a message on Share Chat.

Posts per page:

Scotman
Posts: 11,657
Opinion:No Opinion
Price:33.00
Stereophonics
Today 01:15
Treat yourself to an absolute gem of an evening. This Thursday (19th July) at the Scarburgh open air theatre.

https://www.youtube.com/watch?v=7GqQF12ETHU
 
NoEasy
Posts: 978
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 21:31
Cheers GK. Makes sense.

Chesh, this is the info site I worked from. Solid looking equipment as you would expect and not chucked in in a morning between cups of tea hence my query reinstallation/disruption. Nice photo's and also gives a run down in pretty much layman's terms.

http://www.siemag-tecberg.com/cms/upload/downloads/en/TI_05_South-Deep_e.pdf
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 20:12
The two typos I picked up have now been corrected, glad to see that they read emails and act promptly.
Mr.dt
Posts: 126
Opinion:No Opinion
Price:33.00
Youtube vids
Mon 19:55
Great to see sirius minerals highlight that already they are creating jobs through apprenticeships giving great opportunities to the younger generation. Also great to see they encourage the young to insert that young energy into forward thinking ideas! This is what is going to turn sirius into a world enterprise in 20 years time when it comes to new ventures and one of the many reasons I continue to invest. Well done sirius, what a great company!
GaiasKidney
Posts: 3,243
Opinion:No Opinion
Price:33.00
Off for a week
Mon 18:25
as of 6am tomoz. so will try with a few answers now.

Chesh. One winder runs two skips, in this case 39t. empty skip some 15t I guess. Example:

http://www.sudburyminingsolutions.com/wabi-ships-50-tonne-skips-to-saskatchewan.html

NE. Yes I was thinking about interference when they went to dumping the construction only winders (S73 PA) and install the first production winder to aid construction. I am assuming the placing of the cable drum for the first winder would have to be centred directly above the centre of the shaft to facilitate the supporting of the roadheader. but once production is reached the drum would then have to be offset to one side (~2m?) to allow space for the other drum to be set 2m to the other side of shaft centre to take it to 13.4mt/y. Two winders, four skips in a square, four corner pattern from above. sure they have a plan.

Myo/Dcell. Wsite is soooooooo obviously a v low priority. not that worried about that though. they have more important work imo.

Re 'little steps' and 6.7mt/y from one winder then it has to pay for its self from retained profit.....Then more of that from 13.4 to 20/ Haha, try selling that to divi hungry SL. He'll luv ya for it!!!!!!!!!!!!!!

ATB

GK.
Chesh
Posts: 10,827
Premium Chat Member
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 17:18
NE, do they work in pairs, ie one pair of lifts, then expansion, another pair.........!

a Q for the informed ....

All the best (unless counter balanced, seems silly waste of energy!)
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 16:58
so does the project summary document as it goes on about drilling and blasting the shafts and dated May 2016, I have emailed them about this being updated. They need to check thinks before being uploaded I see the work "willl" if you click your link.
NoEasy
Posts: 978
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 16:57
Good observation skills on show there GK.

The company clearly see value in going with one initially but just out of curiosity does anyone know off the top of their head whether the installation of the second BMR will disrupt the operation of the first? And if so how long is that disruption likely to last?
Myosotis
Posts: 9,354
Opinion:No Opinion
Price:33.00
RE: Myo FYI
Mon 16:42
Just to add (GK) the page that has been changed (see link below) has click here/learn more but when you do, that too now needs updating......

http://siriusminerals.com/our-project/woodsmith-mine/

infact looking at the full set of pages the whole lot need updating which I'm sure they'll do in due course.
jonesrichard
Posts: 1,949
Opinion:No Opinion
Price:33.00
SP Finished
Mon 16:35
33.00 - 1.26 %
Myosotis
Posts: 9,354
Opinion:No Opinion
Price:33.08
RE: Myo FYI
Mon 16:34
GK thanks for that.....interesting in the least.

Firstly and sadly yet again the attention to detail across all media remains poor but well done you for the spot!!

More importantly, we seem to be seeing both major and minor changes in relation to capital cost reduction or capital cost delay. Assuming as per Friday post that the stg 2 may track back to the original prospectus figure of $1.8bn capital and $0.8bn cost of financing over period...(up to $2.6bn total)....all these interventions should serve by delaying the former, reduce the latter..........almost a Dave Brailsford approach (another of my heroes) "the accumulation of marginal gains"

So, in this instance, the cost of a Blair multirope winder and associated kit can be deferred until we are already bringing up 6mt plus......which then begs the question.......will the capital outlay for the second winder come from debt or as we will be cash generative.....sales?
Chesh
Posts: 10,827
Premium Chat Member
Opinion:No Opinion
Price:33.18
RE: Myo FYI
Mon 16:05
Guess it's corrosive then........ lol

nice vid GK........ I had standard drive end skips in my head, many thanks!

All the best (worth a watch!)
GaiasKidney
Posts: 3,243
Opinion:No Opinion
Price:33.22
Myo FYI
Mon 15:36
Re your Wed 8-20:

"I believe what the company put on their website until they say otherwise....and from the horses mouth it is

PRODUCTION SHAFT

The shaft will reach a depth of 1,594m and fitted with two Blair multi-rope (BMR) winders. Each winder will have two 47-tonne capacity skips with rope guides and be capable of hoisting up to 6.7 Mtpa, giving a total hoisting capacity of 13.4 Mtpa. It will have skip loading facilities at the 1,520m level and skip unloading facilities at the 360m level, where polyhalite will be transferred to the mineral transport system’s tunnel conveyor."

Do note now:

"PRODUCTION SHAFT
The shaft willl [sp] reach a depth of 1,594m and fitted initially with a Blair multi-rope (BMR) winder with two 39-tonne capacity skips with rope guides and be capable of hoisting 6.7 Mtpa. To increase prodution [sp] capacity, a second winder and two additional skips will installed once production ramps up ti 6.7 Mtpa, giving a total hoisting capacity of 13.4 Mtpa. The shaft will have skip loading facilities at the 1,520m level and skip unloading facilities at the 360m level, where polyhalite will be transferred to the mineral transport system’s tunnel conveyor."

'sp's highlighted by me. Done in a bit of a rush me thinks.

http://siriusminerals.com/our-project/woodsmith-mine/

Flying skip vid.........don't blink!!

https://www.youtube.com/watch?v=noEVqIbLIWQ

GK.
Ballypatrick2
Posts: 282
Opinion:No Opinion
Price:33.24
youtube
Mon 15:32
Thanks duracellAA
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.40
RE: youtube
Mon 14:36
Not sure if this link will work.

https://www.youtube.com/channel/UCRXkmfY-4l3XyTtp8hdGByw

a few about apprentices and some previously available on sirius website.
Ballypatrick2
Posts: 282
Opinion:No Opinion
Price:33.46
youtube
Mon 14:03
Can't find the 8 videos !
bobster658
Posts: 225
Opinion:No Opinion
Price:33.48
RE: youtube
Mon 13:53
you can just see everything coming together now. Less than 3 years to wait. it will fly over. GLA
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.44
youtube
Mon 13:04
8 new video's now uploaded.
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.44
RE: A Question?
Mon 12:58
DGR1980, some would say that ST1 was a failure as it did not go they way it should have, but that is water under the bridge now and was the only option given the time frame.
LostInTheCasino
Posts: 318
Opinion:No Opinion
Price:33.42
RE: Dilution
Mon 12:57
Hi Tafour,

"According to RNS (24 June 2016): "the Company is seeking to finance the stage 1 capital requirement via a combination of structured capital and equity in approximately equal proportions. The structured capital is likely to take the form of various instruments such as a royalty, debt plus warrants or a convertible note."

Isn't that pretty much exactly what happened?"

-------------------------------------------------------------------------------------------------------------------------------

I think it would be a bit mealy-mouthed to suggest that the "structured capital" element of St1 funding (parking the Gina royalty element on which plenty has already been discussed here) was not, in the final analysis, actually just more equity and therefore more dilutive to future shareholder returns than shareholders were given to expect beforehand.

This is all because of one crucial element of specific terms of the "convertible note", namely the strike price of 31 cents (or 25p at the time ie. a 25% premium to the St1 equity issue price of 20p).

This made it inevitable that if the project went anything like to plan over the course of the development of the mine, then of course the bonds would be converted to equity in order to capitalise on the huge capital gain to be made, even taking account of lost bond interest, as and when the sp gets into high '30's/low 40's as the project proceeded to plan/was further de-risked.

The only way that argument could have held as valid would be if the conversion strike price had been set at say 40p, instead of 25p - thereby minimising the dilutive impact on current shareholders. But of course CF could only get the 25p conversion deal away.

We are where we are, but I for one don't accept that the company "did what it says on the tin" with St1, and fully concur with Cran, PAAA et al on no further equity please.

When I invested, there was something like 2.3 billion shares in issue. The business case for future Enterprise Value has not moved materially one way or t'other in the meantime, so funding St2 out of any further equity will only further erode the steady-state future value of my shares.

Enough already!

LITC
DGR1980
Posts: 6,097
Opinion:No Opinion
Price:33.34
RE: A Question?
Mon 12:46
duracel - The trouble we have is that until there is news people will be worrying that the negative will happen. CF hasn't let us down so far. People complain on other companies that you can't trust their CEO because of their past history. The opposite can be said here. Hes yet to let us down, so lets wait and see what he comes up with

Personally I've got my monthly top ups going in, and they'll continue to do so over the next couple of years.
duracellAA
Posts: 398
Opinion:No Opinion
Price:33.34
RE: A Question?
Mon 12:41
I know it is probably not intentional but all this talk of dilution is a bit "glass half empty" as everyone will know that dilution will always be a possibility until the deal is done but the way some are talking it sound like it is about to happen or been hinted at by the BOD.

I expect the deal to be without dilution as any other deal would be a fail by Chris Fraser and he should consider his position, if he cant put this deal together then why continue diluting the share is the easy option and was used at phase 1 now it is time for him to show his worth to the shareholders and the market.
DGR1980
Posts: 6,097
Opinion:No Opinion
Price:33.32
RE: A Question?
Mon 12:37
Nice start boxer, although the documentation does say that the other shaft will also get skips in the ramp up to 20mtpa
TheboxerMan
Posts: 1
Opinion:No Opinion
Price:33.32
RE: A Question?
Mon 12:33
Cloud cuckoo land mathematics
20Mtpa mine 365 days = c 55,000 tonnes/day
Hoist 24 hours /day 2,291 tph (not taking in too account shaft or conveyor maintenance)
45 Skips /hour @ 50 tonnes/skip
We need some realism on targets
NoEasy
Posts: 978
Opinion:No Opinion
Price:33.48
RE: A Question?
Mon 12:22
The company has always said, 'It is our intention to.......' regarding its financial components. Good get out clause but if their 'intentions' are stymied for a second time and dilution rears is ugly head then they will deserve all the criticism that comes their way. CF in particular, while not the finance director, is a money man. He should and does know the market exceptionally well. He should be aligning that knowledge with his intentions and as shareholders we should be able to have confidence that his intentions are achievable.

However I am looking at the bigger picture and the funding exercise as one whole entity not two stages. I do believe I read very early on, although under the old Infrastructure UK, that it was expected that shareholders of companies seeking a government guarantee had to be involved in funding initiatives i.e. equity release so that the government scheme could not be see as being entirely for the benefit of private shareholders. If that is the case and not some rubbish I sub-consciously made up, then the company may well have benefitted from the composition of S1 given the increased guarantee requirement for S2.

Is there such a thing as double positive bias?




Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.