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Yep, I'm ancient Scotman. I luckily wasn't in Eurotunnel before the refinancing (2009?) but took a gamble on the existing shareholders voting for massive dilution rather than wipeout. Bought and immediately sold on the spike when the appalling dilution was accepted. Flushed with that I thought Id do the same thing when the situation arose again with Interserve recently, I couldn't believe institutional investors wouldn't accept the only deal on offer - due to a family problem I couldn't buy......and this time the shareholders voted for the wipeout option. Lucky escape.
Johnpwh,
Where are the delays?
Where are the massive expense overruns? Can you put a figure on that? Or are you referring to the project capital increase due to the MTS upgrade?
How can it be an overrun when it was announced before a spade for the tunnel had even hit the ground?
We still have about 6 weeks to raise the finance. Close to the wire indeed. I’ve offered my opinion on that.
I also offered my opinion on what would happen between the summer and now.
I got that right!
Eurotunnel? What age do you think I am? I think you must have ten years on me.
Eustus
As far as I am aware LSE do not prohibit non shareholders from posting. As to why I am on 'your' BB it is because I am aware of Sirius and have considered it for some time as a potential investment, though I admit not at the moment. As for the value of my contribution, do you not think it is healthy and potentially useful to have people voicing a contrarian view - or do you believe the best way forward is to have a only a group of fans bigging up the situation in the face of any adverse information?
So having spotted it I assume you are not invested in SXX, so what exactly are you doing on this BB, trying to save us from ourselves?
Bye
Scotsman
A fantastic engineering achievement , state of the art tunnelling, a flagship project, eventually successful despite delays, funding problems and massive expense overrun. Unfortunately despite that a total disaster for original investors. Spot the similarities with Eurotunnel because I do.
Previous finance and increased expenditure? Increased costs?
How were we to pay for the MHF and port? The corridor between? What happened to that plan?
Was that fixed price?
Come on RuSirius, you’re the financial guru. Tell us how you’d have worked it?
How would you have shaved dollars off the calculated opex per tonne?
You’re an empty drum. It’s time your skin was burst!