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Thank you Fred, very nice of you to say that.
Happy B day to your husband.
I didn’t get my wish but I had a lot of fun on the BB earlier today. Prepare yourself for the next onslaught in the morning or later tonight.
Remember don’t feed them, they just get bigger!
Flappinchicken; no, not all other taxpayers do feel the same way - there is a lot to be said for capitalism, but often the best outcomes require a bit of altruism/philanthropy. Sometimes, investments make great returns - especially when they relate to infrastructure and other big capex items that otherwise might be unaffordable right now. (And, as littlened points-out, the gov't would be acting as guarantor, not funding the show...) Economics is littered, of course, with bad governmental spending decisions, like bailing the banks in 2008. I know where MY taxpayer money would be better spent.........
gla
Bandanaman, i sadly agree with you 16:12. Death by a million cuts. Shareholder wipe out and aquisition for peanuts by a competator mine just up the road.
But, you never know, they might pull a rabit out of the hat. Further dilution and and a part givernment backing is my hope.
I agree, I've only been a first time investor the last couple of months and thought I had read plenty before I bought in, what I do not recall was at no time that the project wasn't cover for any stage 2, well not until 2 weeks after I bought. Furious with this now.
For the umpteenth time,we do NOT want the Govt. to provide ANY cash.just a guarantee
SpruceGoose2 - What really galls me is that after 'doing the rounds' and raising the capital require in 'Round 1' SXX should NOT have blown all of its money until Round 2 was fully and irrevocably secured.
If sinking the shaft was the main problem then it should have been ring fenced and just that secion been offered large returns to sink the hafts, whilst SXX built the tunnels.
Our forefathers have sunk many shafts and the technology has improved dramatically since then ...
The Govt. and various ministers have all visited and the dropping of the baton was the main cause of the failure and a better and complete argument given to the Govt. - possibly even including a % ownership - I would have settled for 90% of the finished cake instead of 100% of no cake.
Some would argue that it is the NYNP that have lobbied the Govt , since they lost out on the planning appeal.
bandanaman: agree entirely with your sentiments re UK as an investment case; the politicians have donald-trucked it completely, but the screwing-over of industry has been happening for many decades - since wwii one might suggest, when the nation was broke but aristocracy and the Eton pig-lovers still held the reins. (Since the 60's, per-capita R&D investment in the UK has been approximately half that of the US). Some folk think we'll return to those halcyonic days, but sxx's plight tells us firmly that will not be the case. So, imo a 10:1 then ~ 2bn new shares coming (or more, depending how it's raised). Shame the bullet wasn't bitten 18 months ago; as someone sagely commented a while ago on another bb; beware of hubris.
GLA
I totally agree bandanaman but I don't think that the additional investment was ever going to come from the UK - so there is still hope - maybe on of the big Australian mining giants will be willing to invest - it makes great sense for their business model - the iron ore price fluctuates with supply and demand all the time - adding polyhalite to their portfolio would do wonders for their cash flow.
Have to say the government is also wasting a lot of money at the moment on a Brexit advertising campaign - they keep changing their minds! But on a different note Happy Birthday Tex2374 - my husbands birthday as well! I’m afraid you didn’t get your birthday present of good news from Sirius today - perhaps tomorrow!
Tex, I understand that , but my holding has just about zero value, (apart from the lesson about the stock market trolls etc.)
Luckily it was a 'side investment' (not pension or whatever and I am already retired) - This country has no stomach for large investment projects (just look at the fracas of the Nuclear Power Industries and the like) - it sends a strong message that the once Manufacturing Base of the UK is dead and buried and that UK is only good for fast food outlets (don't tell Jamie Oliver though) and financial impropriety services.
bandanaman, you can make the pain stop immediately! Just sell. If you honestly believe what you just wrote then why would you want to hold onto your shares?
I don't understand why you wouldn't just get out now?
I agree with the comment - 'someone' will pick up the entire company for nothing - just to complete the mine and create the jobs, so needed in the area.
All LTH and PI's will be wiped out - it will be a 'packaged deal' buy from the administrator and if CF stays in the role it will be a tragedy twofold.
He might have lost hios 2% interest in SXX (but no doubt will be given a stake in any new 'Phoenix company', which will slowly added to over the next 4 years as the mine gets completed.
So once again the 'mugs' of PI's that 'created' this company and backed it so that it could start the mine have been outdone by the impotent FCA and shorting Hedge funds (who couldn't give a toss whether the mine was built or not - as long as they got a bung from the betting...)
All of the LTH have been put over a barrel and made to take it without a whimper, I have had enough of the 'financial institutions' and the MP's and governing bodies that are happy to throw money away left right and centre on wasted ID cards / IT systems for NHS / HS2 and others...
This is slow death by a thousand cuts .... agonising and painful - I just want it over with
bandanaman
Whilst the Qataris Norwegians and other funds are said to be large investors their investment in monetary terms is really not that great against the past value of the company. Now the largest holder owns approx 6% of SXX which on its present value represents appox a £15,000,000 investment. This is a drop in the ocean considering the 3 Billion need to finish the mine. Gine Reinhart is in a different league and is in pole position if she chooses to which I am sure she will pick up SXX for peanuts and finish the job herself with CF still in the role as CEO.