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AAL I don’t think the people you have promised the 4m to have shares, great plan.
For me the last few things coming out of Sirius and Goodwill comments tell you all you need to know about how the NO vote momentum is gathering speed !
Tbh I would have been worried if they had stayed silent !
And as for aal offering what was it 4 million to local causes ??? Oh goody let’s vote yes then ???
Pathetic tbh quite pathetic
"The only way to register your vote if your shares are held by Barclays is to phone them (0800 279 3667)- I stated that this was extraordinary as the future of the Company was at stake and registered an official complaint.....but that is their policy!"
Since their move to SmartInvestor Barclays have turned into the most amateur broker in existence. I believe there was a 3 year period of grace on the conversion before the introduction of a price increase which will particularly hit larger investors. Anyone still with Barclays should do themselves a favour and move now.
If only they'd put the same effort into engaging with shareholders to try to raise the money instead of excluding them and now trying to intimidate them.
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Very true. First spreading fear through RNS, then interview in the newspaper (oh so he can be available if he makes an effort, can't he?), now removing the logo from the survey. Truly pathetic. They redo everything to make it difficult. If they put half of the energy they put in pushing through AA offer into finding the solution and maintaining SH value, we would have had money on the table already.
Vote NO.
KOH
Fran they could double the offer and it would still not stop me voting NO.
They have made it very clear the offer with no other options are on the table. They believed we would cave in but they underestimated the spirit here.
The doubters can mock that but I’m proud to be a small man that’s saying NO
And before the doubters call it stupid ?
Who cares !!!!!
Time will tell and I really hope that another bidder emerges or AAL increase their offer but I think it is wishful thinking and it is highly unlikely that any government will look kindly on the fate of shareholders that have sabotaged a bid for the business just because they didn’t like it. Given the very large players in the market and no sign of interest from them then it does look as if AAL have priced their bid correctly given the amount of cash they are likely to have to spend to bring it to production and the risks that remain.
.....well if it does fall into administration then this might be the saga, propelled by 50000 or so angry Yorkshiremen, that finally spurs the FSA into action against the many crooked dealings in the financial markets ......
Another view would be to look at how many cheap shares you could buy if you have the appetite for the risk - no recommendation as always DYOR.
I am holding cash in case the no vote goes through ( it may not ) to buy some bonds or equity if asked - think how many shares you might be able to buy ? The bonds are also a good buy if you don't want shares but have the time and we get the deal we want ?
If it falls into administration they will get it for a more derisory price.
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Franalex,,.... the key word in your sentence is IF...……
Equally IF an alternative solution involving funding is secured then AAL are kicked in to touch and shareholders will recover their losses in time (and Fraser and Staley will be shown the door- added bonus)
Regarding the vote, I have just contacted Barclays and the gentleman stated that Barclays will not be sending out voting forms to the shareholders who have nominee accounts . The only way to register your vote if your shares are held by Barclays is to phone them (0800 279 3667)- I stated that this was extraordinary as the future of the Company was at stake and registered an official complaint.....but that is their policy!!!!! Apologies if this has already been covered ......
great post closettrader
And we have never been told why the IPA guarantee was withdrawn, That surely should've been announced. I felt very secure in the knowledge that the project "pre-qualified". The guarantee exists to provide a guarantee for projects that cant otherwise get funding at commercial rates on the open market without the assistance, Surely the position we're in describes that exact situation we now find ourselves in.
We've been lied to.
If it falls into administration they will get it for a more derisory price.
I have been invested in Sirius for over 10 years......my initial interest was sparked by a feature article in the S. Times which actually discussed using the mined out underground caverns as suitable for power storage (using compressed air....I kid you not!) once the polyhalite had been mined. I have followed the entire saga through getting planning permission by just one vote to the enormous advantages that this mine would offer the world as the population grows and the benefits to this country's economy - Chris Fraser was quoted as saying that once in full production then Sirius would be a FTSE100 company and would increase the UK's GDP by 0.5% with a mine that could last 100 years These were extraordinary claims which I feel have now come back to bite him (and the rest of the BoD) since the 85000 or so private shareholders, like myself and my wife, wanted to have just a small part of this amazing success story. Moreover, it was being backed by the UK government - Sirius was being promoted as one of 30 or so UK companies at the Qatar Business Forum by Theresa May about 3 years ago. ........so we (the PI's) felt safe. Well, that all seems to have a major spanner in the works....so sad.....and I tend to agree with a lot of the conspiracy theories out there. However, I cannot believe that if the Vote is 'No' on March 3 then the mine will just be left to rot. With so much talk about rejuvenating the north of the country then the Government would surely not let this happen. We feel so strongly about this project that we will both be voting 'No' - we are prepared to lose all our money rather than see it taken over by another company for a derisory offer price.
But no funds to complete to production. I really want this to work and will stay invested...... but still undecided which way to vote.......,. Oh to be able to see into the future
Gert I pressed the send button in error - look at my second post. I've asked for the first post to be removed
LTV their market cap is only 690k.
As posted earlier today by another poster. Valirx PLC shareholders voted against their board today ....resulting in 41.5% drop in share price so far today . Not a great confidence booster is it? Imo
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Westcountry VAL is apples and oranges to SXX. Its a drug company running clinical trials. The vote today was to raise more funding that was blocked. Drug companies, like oil companies, is very speculative. You burn through the money, the trial results are negative then money down the toilet.
Here we have the resource and the sales to back it up. We just need the money to access the resource. Unlike VAL, shareholders in SXX would gladly take dilution in exchange for funding, But we're being sold - down the river. Fraser is pulling out all the stops today - press articles and the phone calls continue. If only they'd put the same effort into engaging with shareholders to try to raise the money instead of excluding them and now trying to intimidate them.
Deplorable behavior.
Have their BOD been sacked?
As posted earlier today by another poster. Valirx PLC shareholders voted against their board today ....resulting in 41.5% drop in share price so far today . Not a great confidence booster is it? Imo
Playboy are you sitting in a basement in sweatpants?
You guys are absolutely mad for voting no. Sell up now and hit the roulette tables. The odds would be better. My motivation for posting? I've been where you are and seriously regret it.
My point Westie was if he believes what he wrote then he should be buying and voting ???
AlanG( like myself ) a long term investor here and his post are always honest and useful. Sadly what started out to be investing in and following a great project has not worked out the way we wanted , his talk is not cheap , maybe like him we should learn from our mistakes and be cautious. GLA
Well Alan if there isn't a snowballs etc etc etc why are you not investing now ? then you get to vote ?
And if it's a yes then you would have at least made 10% give that you can buy under 5p atm ???
Talks cheep !!!
The market makers know the time of day and they must think the no vote is looking the most likely outcome !!
So it's looking like being robbed or holding out , if it's a no vote I will be investing again as I don't see a snowballs in hell chance of this going into administration ,
The £385 million on the table from AA is not even 6 months profit once we are in production even Dick Turpin wore a mask !!!