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It really depends on your loss. If you've put in a couple of grand, i'd say hold. If you have a pension on the line, or a substantial amount still left in... i'd be inclined to say get out.
Probs best you don't buy in them jimmy........!
if you feel that way........... :)
All the best (and your flip flopping is making me dizzy also :()
FFC I've already mentioned this already. We either get diluted to next to nothing OR somebody buys us out with Sirius being in such a position that they can't really afford to negotiate. Everything that CAN be going against us, IS.
Jimmy do some serious thinking now before you decide anything you are all over the place recently . One minute you’ve sold then u haven’t. You have to weigh it all up and base what you do next on what you think may or may not happen ! Have you read the possible options where the money may come from ? What the implications might be ???
Jimmy please step back stop posting and take advice , think it through
Regards
Ffc
Even shares that are doomed for failure don’t keep going down In a straight line. Look at Thomas cook. They kept warning but the shares trebled at one point off the lows ! Sirius will bounce extremely hard off these levels and if they secure an investment then it will build . Point I’m making is better to wait for the large move back up before selling . I bought at 4.14p today as can see that happening very soon. The technical exhaustion signals help also !
So by that logic we should all buy back in as a huge buying opportunity?
Jimmy the company will not be bought out for 4p-6p per share, we would have to approve that, far too many shareholders sitting on higher averages to let that through, including the Norwegian and other funds that bought in at 15p recently
I think, understandably there was a lot of reactionary selling on the part of P.I's. The key thing driving this is not "IF the mine is built" it is "who will own it". The government isn't stepping in, so get that out of your mind. That leaves either massive dilution (in the short term, I can live with that) OR somebody buys us out NOW for a nominal SP of 4-6p. imho of course.
If i was a long term holder who was massively down I would be waiting for the large inevitable bounce that is coming . Can easily get back to 6p without any news. Technical RSI is rock bottom also
I agree, I'm hanging around to see what happens, certainly not to berate people. If you've already lost it all, you may as well see it through. I suppose I'm one of the "fortunate" ones who only put 2 thousands pound in to Sirius. I hope it all works out.
What did I say :). People are selling the bottom .
Thanks anyway as I’m now in at 4.14
Big move coming up .
I think what annoys and infuriates investors is the timing of it all. They surely knew very early on that they were going to pull the plug on this - they could have done the communication far earlier. You don't leave it until the last minute.
I was trying to see if I could get commentary from Steve Davies (from Jupiter Asset Management company) on this views and I stumbled upon this video https://siriusminerals.com/investors/stage-2-financing/ Its at the bottom
Saw that article pianista but although The Times said the same thing it doesn't ring true.
A t no time ( whether rightly or wrongly ) has Chris Fraser been anything but optimistic and confident as far as I recall.
If anyone knows different and can quote the source for his alleged comment I ( and many others I suspect ) would be very interested.
As soon as those first blue days come watch sentiment and the price begin to lift
In at 4.14 today. Reckon CF with more time on hands can sort this
John 2015 - I'm quoting from the Gazette article.
I’ve picked up a few SXX up today at 4.14p as CF seems more bullish than most on here ! Mark my words when most on here start to bail that’s when it starts to rise fast. Always the way !
Last para should start “Any more than it is true” - IPad !
Pianista did he actually say that ? I have only seen it in The Sunday Times and I do not recall Chris Fraser saying anything of the sort in all his Communications to us.
If Investor relations see this post ( I have no doubt they are aware of the press comment ) perhaps they could clarify Chris Frasers position for us ?
That said I cannot see any CEO saying buying the shares in their company was a risky option.
Any more than it us rues as claimed by the press that the project is decades old or we have had 1200 miners working underground for 2 years as also claimed in The Sunday Times.
"......we will overcome this one", says Chris Fraser.
But who is "we"?
Does it include the 85,000 PI's who he admits "have over-invested or probably not taken the right investment advice"?
Or will they be spat out?
I'm holding.
Positive article on p37 of The Times today, essentially saying Sirius is a worthwhile project, useful to regeneration and should get serious (no pun) consideration for government support.
Author Graham Ruddick Deputy Business Editor.
As always DYOR GLA LTH.
If you believe this statement you hold , it not you exit now. “We have been very successful in overcoming some significant milestones along the way and we remain confident that we will overcome this one.”
Certainly begining to feels the same.......
GLA
Mmmmm he would say that wouldn’t he, it’s just that the folks with the money don’t agree! Seen this before in XEL where the bondholders miraculously ended up owning the asset, now TCG has gone same way as Carillon.
Worrying times
Trek.
https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-boss-chris-fraser-16962274