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Good article on SXX in Sat. Daily Express , & yes cost of mine to completion nearing £ 4 Billion pounds . But , as pointed out in the above article , favourable proven mining conditions composed of Redcar Mudstone , together with a resource containing 2.6 Billion tons of Polyhalite worth in the region of £ 230 Billion pounds , should surely still be an enormous incentive for investment from somebody in the near future hopefully , & is why 85,000 pi invested in the first place .
lts not quite all over yet l feel .
Also its probably worth rememberlng for those concerned about any mining problems at Woodsmith , that there is a lot better understanding of tunneling today than when the Channel tunnel was constructed that had many complex & complicated geological engineering problems to deal with . SXX therefore spent a lot of time & money exploring the geology they would be up against . lts "definitively" not quite over yet in my book .
“we are still in the top 15 shorted companies currently”
——-
An ostensibly compelling statistic, yet, when you allow for Highbridge’s 2.15% and Polygon’s 0.72% - both of whom I recall are only hedging their long conv. exposure from ST1 - then at 3.66%, that would put our traditional short positions somewhere on a par with the likes of Tate & Lyle, Capita or, even ASOS. That doesn’t seem too alarming, does it?
First impressions aren’t always the correct ones.
Regards,
per ardua ad astra
HBK can be seen to target 0.49% - that was the one I noticed.
The short reduction is good news, but there is still a huge position out there betting against us, the reduction was less than 1% which isn't massive. we are still in the top 15 shorted companies currently :-(
Clearly people still think the share is heading south.
Hopefully we see further short positions reducing today.
Fund % short change Date changed
Citadel Europe LLP 0.79% -0.15% 18 Sep 2019
HBK Investments L.P. 0.57% -0.08% 18 Sep 2019
Highbridge Capital Management LLC 2.15% 0.06% 17 Sep 2019
LMR Partners LLP 0.58% 0.37% 17 Sep 2019
Och-Ziff Management Europe Ltd. 1.22% 0.11% 1 Aug 2019
Polygon Global Partners LLP 0.72% 0.04% 18 Sep 2019
TT International 0.50% 0.0% 17 Sep 2019
Total 6.53%
I noticed LSE are only going to show shorters with 0.5% or above!
One has cleared 0.08% to lower than 0.5% and will therefore become anonymous?
I was surprised nobody with any sense commented on my good news post the other day.
If you are a shorter and the company dies before you square your account - you no longer can!
So the whole deal is profit (less interim payments like dividends and commissions)!
So companies clearing their shorts are in effect saying they don't expect the share to fold!
Is that Good news or delusion like some prat said?
You would hope so ffc. If we know they are closing off there is a bit more light at the end of the tunnel.
surely some of the big buying after hours was shorts closing ???? how many pennies do they need at our expense ????
The problem with that is you won’t know they’ve sold until after the fact. It will be off book after hours. Look at all the buying/ selling after close on Friday. 30 million plus. No tr1 to show any change in anyones holdings. They should show this week.
He iis won’t sell until a few months time when things are clearer. Nothing will happen now until new year to SP except few small rises and dips due to mug punters trying to average down or thinking as it’s so low it must be a bargain. Same people who were buying Thomas cook last week
Steadygoes - a very balanced post.
For me you have to look at the significant investors: i.e. Capital, Jupiter, Citiwire, Qatar. If I was CF my focus would be on keeping them happy. They all haven't changed their % holding since the bad news. And that is telling. The fund managers will be going potty at CF. We have lost 80% of £10, 20, 30k or whatever. But they would have (paper) lost millions.
If the IIs decide to substantially reduce their investment then so will I.
Longterm is right Bob. Quite apart from anything else we do not need 3bn to derisk/ unlock a finance deal. The main issue is the shaft construction which it is estimated could be done for £250 to £300m .
If this is dealt with first the project is considerably derisked and then becomes much more acceptable to the lenders - which is one of the things the board are scoping now.
GLA LTH
yes fine bob - not a criticism
I am just giving my opinion.
I think you would be better off gauging people's interest in turning up at woodsmith with a pickaxe and headtorch and their availability for the next 40 years.
As I have repeatedly said, this is an attempt to gauge interest. If it were to get to the next stage which involves collecting monies an acceptable threshold would have to be met. The funds would be held in an escrow account for re-distribution back to the investors if the threshold was not reached. The account would be owned by SM or designated broker. This proposition obviously does not appeal to some people on this BB but it may do to others
Ignore the doom merchants Bob. Good on ya for having a go.
Bob, well-meaning but:
1. probably illegal breach of Financial Promotion Regulations
2. crazy because company needs £3bn not £500m
3. you will never get to £500m
4. even if you do how do you know people are genuine (some will confirm interest just to create more chaos - there are some warped people on here).
5. looks desperate and is noisy irritation to people who are doing the serious stuff.
This idea is in the same category as this awful petition. The govt could not care less about anyone on this board or any of the PIs and why should they. Thank god they dont and we live in a democracy where we can decide to invest too much in a company and then watch it slide into the ground. It was our decision to make the investment and - at the moment - it looks like a mistake.
I was posting pretty frequently on here but have given up. Nobody on here has the faintest idea what is going on or what will happen. Will he strike a deal with a strategic partner - probably. Will it wipe us all out to next to nothing - probably not. Will it leave us with a long slog and many years waiting and uncertainty to get back to what we invested - definitely.
What this comes down to now is whether you think Chris is a Battler or a Bottler. I reckon hes a the former, I reckon he's a streetfighter who will leave nothing behind in finding the package. Thats not just because PAAA once met him at an AGM and liked the cut of his jib.
The project is definitely worth more than the Share Price right now. My view is that the future depends entirely on whether he gets
1) No offer from strategic partners - in which case we can write the lot off
2) One offer from strategic partners - in which case we can write almost the lot off
3) Two or more offers from strategic partners - in which case he can negotiate and we get something back but have to wait a few years.
Unless you are trading this then there is no quick return to anything like where most of us average.
I am holding because of the reasons given above and I have lost quite a bit and whats left I might as well write off as cash in.
lol dodger........... (:()
Are you our faceless white knight astride a white flying unicorn............!
All the best (a beautiful sight, it has to said :()
to the end of the rainbow............ giddy up :)
Keep us up to speed with any interest. I already mailed Ir asking of possibilities of a bond. Polite corporate reply.
I raised this thread last Thursday. Well I have now published the website to gauge interest levels for my proposition so if you are interested take a look and spread the word.
Link: http://bit.ly/sirius-minerals
Now if it was a Nigerian prince needing the cash for an oil well.....I probably would send it. ;-)
Someone replied to this thread mentioning “Nigerian”
Spot on.
If you made your suggestion from a genuine desire to move us all forward from our present predicament, then i applaud you.
But it is naive to expect long suffering LTHs to take on more burden and debt.
Personally, having known a few people who have been ‘yahooed’ in this manner by Nigerian fraudsters, i would bury this idea now never to be mentioned ever again.
Maybe we just get people to barrage investor relations with offers for a bond purchase at that level we may get somewhere. I would place my kids inheritance in it because I have no doubt in the abilities of all the high class contractors that are delivering this project to succeed. Oh and the fact that in 7 years they would have made 70% on the initial input. ( in fairness I would accept 5%) :-)
Bellers worth a try - maybe they have a plan in progress ? Here's hoping.
I e mailed investor relations today and asked them to pass the mail on to CF. In it I told them to offer bonds in denominations of £5k at 10% over 7 years with no warrants attached. I got a polite reply saying thanks for your support, however......... you get the drift. I for one would have placed a considerable amount with them to assist with the build. I canvassed my ex work colleagues who said they would match my input. We are in deep enough but were happy to make it more in order to save the day. Short of hunting CF down and giving him a carrier bag of used 20s I’m not sure what else We could do.
Best sense of late. To add to your point ( from direct past Experience),the action the BOD are now having to take will be that ‘ considered as needed to move forward’ arising from potential suitors discussions that have been given in depth . It’s a fluid action arising ( as per CFs open comments on this etc) from their inputs/ suggestions’.
It will come good if the messages are taken on board ( Full confidence )and additionally relevant that the global backdrop and politics settle . The current action BOD action needs support from many , and it seems to date that have this from the holders ,both institutional and private by and large ( the evidence is that mega volumes not disappearing here).
Important to get it back on track. Not selling , and have added moderately.
DYOR. GLA.
Best sense of late. To add to your point ( from direct past Experience),the action the BOD are now having to take will be that ‘ considered as needed to move forward’ arising from potential suitors discussions that have been given in depth . It’s a fluid action arising ( as per CFs open comments on this etc) from their inputs/ suggestions’.
It will come good if the messages are taken on board ( Full confidence )and additionally relevant that the global backdrop and politics settle . The current action BOD action needs support from many , and it seems to date that have this from the holders ,both institutional and private by and large ( the evidence is that mega volumes not disappearing here).
Important to get it back on track. Not selling , and have added moderately.
DYOR. GLA.