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Does many inexperienced investors include the II's who have dived into this project? Let the investors have a chance to find the funds for this 600 million USD stage. Why just state something that has not been tested or proven. Or is 600 million USD not enough to finish the first stage and we are not being told the full story again?
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Well said Achille!
Does many inexperienced investors include the II's who have dived into this project? Let the investors have a chance to find the funds for this 600 million USD stage. Why just state something that has not been tested or proven. Or is 600 million USD not enough to finish the first stage and we are not being told the full story again?
Sure, the 2.5 billion in two years is another huge obstacle to surmount, but who knows what can happen in two years.
This extract from the SXX website has been quoted by a couple of posters -
“Despite having a significant and very supportive retail shareholder base, the Company does not believe there is sufficient depth from this sector alone to secure the capital necessary to fund the balance of capital funding requirement. This has been demonstrated in previous Open Offers which proved that retail support exists but in a limited capacity. “
I suggest it is being taken out of context and, as another poster commented (and I STRONGLY agree) now that PI's know the alternative is having their shares stolen by AA, they would dig deep to save their investment.
Also, I don't agree with the statement entirely. PI's were only offered a small allocation in the previous raises (1 for 22 for example) and it was always oversubscribed, so I don't think the company can honestly or accurately state - or know - PI appetite for a raise, particularly in the current circumstances where we're in do or die territory.
Fair play Jiffy
I wish us all good fortune here !
Not aimed at you but especially a couple that have said they will be selling up when/if this sp recovers
ffc
FFC,
You have your opinion, I have mine, good luck to you.
That's ok too Jiffy ,So I guess It honestly doesn't Matter what I think about the idiots that do bang on and on and on and on questioning CFs integrity too !
Regards
ffc
FFC,
Honest opinion, it matters not a jot on what I believe about CF, what matters is what is actually unfolding before us, and the questions that must and need to be answered.
and subsequent un hitherto UN known discussions re AA and SM?
It wasn't a trick question jiffy ,,
I'm no JR ( I like the man though )
I just happen to believe this isn't over yet so I'm holding so I can vote If it comes to it !!!
I'm very aware whats at stake too.
Now do you believe in CFs integrity or not ?
Fine by me if you don't It's not like you bang on and on and on and on ****ging him off I just wondered !
ffc
FFC,
'So Jiffy are you of the same opinion as Koh in that you believe CF has no integrity'
Put it this way, what do you believe in this great journey from the bombshell RNS of the 08th January and subsequent un hitherto known discussions re AA and SM?
Exactly, acid test...try it and see, only the BOD's do not obviously want to 'Try' , that is the issue here.
The issue also imo, is that they the company and financiers do not wish to have a large contingent of PI's, maybe JPM's viewpoint in reality?
______
They won't try because it would likely succeed and that is the end of their plans. Come out of hiding and explain to the owners why it is not preferable to the existing takeover.
So Jiffy are you of the same opinion as Koh in that you believe CF has no integrity
Another point, when you think about it, if the majority of shareholders are in private hands, that leaves less room for manipulation and organisations like JPM to short the share price as PI's would if finance was secured be unwilling to react?
Not 100% sure, but that maybe a consideration most particularly for this project with it's projected profitabilty etc.
Jazz,
Exactly, acid test...try it and see, only the BOD's do not obviously want to 'Try' , that is the issue here.
The issue also imo, is that they the company and financiers do not wish to have a large contingent of PI's, maybe JPM's viewpoint in reality?
Jiffy,
Leave him, he's a bit handicapped. Waste of your time.
KOH
'Straight from sxx website. However I don’t believe they are taking into account the extra willingness of PIs to invest in a raise if it’s the last option for them.'
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It is the only option for them to salvage something here. There would be plenty of new investors at 2-3p as well. It is the only way forward. Why has this not been seriously pursued. That is the only question I need answered.
FFC,
FFs man, wake up and smell the coffee, your's beginning to sound like JR!
Yellow
They will take the 5.5p and write the rest off. Not a big deal for those giants, they do it all the time. You lose some, you gain some. Fraser dragged the company to the verge of bankruptcy and now the only alternative to takeover is going bust. They might even push it through without any voting in those circumstances, they can do it if the company's facing insolvency.
KOH
KOH,
Freedom of information act?
KOH - however what about the now seemingly huge institutional
shareholder base
Jack,
'Straight from sxx website. However I don’t believe they are taking into account the extra willingness of PIs to invest in a raise if it’s the last option for them.'
True, but my theory FWIW, is that $600m dollars could be raised by existing PI's and II's to complete the shafts then once that part of the project had been de-risked the balance of funds would become available. This is something that I am amazed at as to why the BOD's have not pushed this idea. Then again, given the recent press and Aussie connections, I am not surprised at all.
What I want to know and see is evidence of seeking finance to complete the shafts, and evidence as to why a Rights has not been put forward to shareholders before a 'Proposed Offer' is most likely to be accepted!
___
We will never know the truth I'm afraid. They will probably issue some general statement without going into much details and do the minimum required by law. Nobody's going to give us any extensive detailed and chronologically consistent explanations here. They may say that the other routes weren't available or failed or whatever suits their version of events, the company is running out of money therefore continuing as going concern & jobs are priorities now. I really don't believe any strategic review is still taking place, I think the preparations for the official takeover offer are taking place. Once its over their PR dept will do the magic and create an image of "AA the great saviour", BOD will make sure their backs are covered (that's what they've likely been doing since the announcement), the gov will be more than happy too. Fraser never cared about PIs and this time won't be any different.
KOH
“Despite having a significant and very supportive retail shareholder base, the Company does not believe there is sufficient depth from this sector alone to secure the capital necessary to fund the balance of capital funding requirement. This has been demonstrated in previous Open Offers which proved that retail support exists but in a limited capacity. “
https://siriusminerals.com/investors/shareholder-information/faq/
Straight from sxx website. However I don’t believe they are taking into account the extra willingness of PIs to invest in a raise if it’s the last option for them.
Tex,
Fair enough, see your point, but we really need to understand (as is our right I firmly believe) to know and understand the difference between your likely events and what may have actually taken place.
Hi Jiffy.
We are speaking about completely different things. I am talking about the likely outcome from the current situation and what will happen to Sxx.
You are speaking about your view of the negligence board.
Just saying we are talking about different things.