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Going full steam ahead plays into Anglos hands and gives them lots of competed mine in a cheap deal. Slowing down would protect our funding money and shares, and create more possibilities for alternative funding. Easy to see where BoD priorities lie. They should have slowed down many months ago.
PIs!
Interesting that Fraser is now reaching out to the Paid, when all along he has kept us in the dark. The man is nothing more than a snake.
Anglo American offered 5.50 pence per Sirius share.
Part of aal trading RNS out today .
As it's aimed at their current shareholders that they haven't acknowledged "IT'S A STEAL"
bloody thieves
Anglo American said on Thursday: "Anglo American identified Sirius's Woodsmith polyhalite project in North Yorkshire as being of potential interest given the quality of the underlying asset in terms of scale, resource life, operating cost profile and the nature and quality of its product. The project has the potential to fit well with our established strategy of focusing on world-class assets."
Plus we haven’t yet fallen at the last hurdle - at least let us see if Sirius Minerals’ Investor Action Group can raise the £460 million
I always thought CF was my Robin Hood and I trusted him. I’m afraid now that trust has gone - I really never thought it would. Of course the majority of us invested in the mine because we want all the things the mine will bring to the local area but we invested in good faith for ourselves and our families as well. In the Gazette article he’s homing in again on the private investor and these boards/FB. These are really the only place we can say what we’re thinking just like when some of us we were 100% behind him - he wasn’t complaining then. We are not responsible for the decline in SP which has made this situation so much worse - why couldn’t the SP have been suspended. It’s not our fault we’re in this position. Now it seems there may be other Robin Hoods, not sure if they really are but at least they are voicing our concerns, confirming what has been worrying us all. There has been a very big unhappy potential no from many investors - I don’t like the phone calls, I don’t like the fact IBAB has suddenly disappeared after months of posting relentlessly on here, I don’t like that we are being targeted by CF again when all we have done is support and believe him up until now. I don’t think this mine will go into administration - even if it does the mine will still survive - the government will see to that - it’ll be us the PI’s that lose. Everyone must vote how they want but reading that article did nothing to make me change how I’m feeling.
Great post FosterE . Agree 100%
I’m still at a loss to understand why other routes than Administration aren’t possible.
Options:
1) Stop all work, all non essential expenditure, but retain the entire asset
2) Revisit the bond markets when conditions improve (there’s at least certainty over Brexit, trade wars?)
3) Raise capital from the markets (AIM style almost) to keep things ticking over while finance is sought with no time pressures
4) Similar to 3, bridging loan from someone...Qatar?
5) Actually ATTEMPT a retail issue of shares or bonds, rather than saying it won’t work because JPM say so
6) If all else fails at that stage, come up with a solution that allows SH to retain some project ownership- with clear visibility that all other avenues were attempted, a takeover would maybe meet far less resistance
Just seems so, so negative and defeatist by this BOD to accept admin if they don’t get their own way. Vote no, get rid of them, and get someone in who actually wants to fight for shareholders- not just the continuation of the project (and their own wallet!)
Bottom line,
Many, many existing SM's shareholders have Zero confidence in CF and the BOD's to look after their interests for those whom have funded and got this great project to where it is today.
If you CF cannot show an alleigance with SH's but are ready to jump into bed with Anglo at 'OUR GREAT EXPENSE', why on earth are you advocating we accept a derisory offer that is less than you and your auditors have valued ?
https://www.standard.co.uk/business/crispin-odey-fund-rages-at-mockery-of-anglo-s-bid-for-ailing-miner-sirius-minerals-a4366086.html
Bottom line is this , it is now clear we are being shafted, and the best route out of this debacle is to remove you, and the Bod's as soon as possible.
Was too busy to talk to shareholders and now cannot stop going to the press....there is no conspiracy on the BB's my snake.
We all feel you are just useless and incompetent - therefore come March 3rd -we will vote with our feet and have you march off with yours!
He’s starting to look a bit like George Cole.
Is our aussie leader ,starting to feel the heat , wonder if there will be a few minders there march the 3rd , could get pretty heated , angry people in the room chris , you ve phissed 1000s off
Chris I’m voting no because the deal stinks, you think everything revolves around you.
“Chris Fraser says commentators online have told shareholders vote 'no' to Anglo American's takeover on March 3 to 'punish' him and his team“
Vote NO ;)
Amazing how the thought of him losing £7 million has concentrated his mind. He’s beginning to know what we are feeling. Good!
come on people, even a cabbage has got a heart.
Over the last couple of weeks you could of replaced him with a traffic cone.
All jokes aside I think he needs to pack it in.
If ever there was a worried face, it’s that one. He’s brickin it. :-)))))
Chris if you are 45 years old, who’s the guy in the paper.
Sorry if already https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-boss-tells-investors-17774947?ref=BNTMedia&utm_medium=facebook