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Very good point paaa. I was a bit hesitant at first I must be honest, but I sat with them and went through their plans and thoughts and how they were to provision the repayments. I don’t think it would hurt Boris and his lads to do the same. Go visit and talk. Get a feeling for it. Meet with the management team and then form an opinion. The quicker he does it the better it will be. Winters closing in and it’s pretty inhospitable up there for 3 months of the year.
They won't be in power 10 weeks from now let alone 5 yrs
BTW we have circa 117 million in the bank to get to march 2020 and there is 50 million set aside to fill the holes in, in the unlikely event that it did go tits up !!!
NH your first post here admitted to not knowing much about this co !
your second post thanked me for something I said and you will learn more in a few days if you have a "chance " ? and since then all you have wanted to do is contradict and disagree ?
can I ask what you're actually here for ?
They aren’t looking to stop. They want to advance the parts which have been stated as high risk to reduce the bond rate given or increase appetite for a lower risk investment
Hard to argue with your reasoning, Bellers. But, to be fair, you know your kids far better than Boris Johnson does Chris Fraser though.
You know what you can expect from your children, but, how does Johnson know where he stands with Fraser and, as such, what he can expect from him?
For instance, has Chris ever been caught out publicly cheating on his wife? Or, like Johnson, has Fraser ever been sacked from a previous job for ‘lying’, ‘distorting the truth’ or ‘misrepresentation of the facts’? No? How about fame and self-interest then? Has Chris ever shown a fixation with those? Has he ever sought to gild his own lily, often at the expense of others? No? If not, I’m guessing that ‘our Chris’ might not be Johnson’s kinda guy.
Thank goodness, eh?
per ardua ad astra
I have emailed Robert goodwill a few times, always had a response. I asked him to share the petition in support of Sirius, and to increase awareness to his colleagues, he has not yet replied. I would ask others to email their local MPs and bring attention to our needs
The thing that keeps me very optimistic that SM can change the Government decision on the guarantees is that the Tory's need the brownie points in the run up to an election, also after Brexit it will be a way of asserting independence from the EU - a bold new project made possible by a Government with a vision for the future etc etc....
Also of course it won't cost them a penny and if it goes wrong 5 years from now they probably won't be in power anyway.
Jonesrichards turned me into a glass half full man. :-). Seriously, I have faith in the engineering and the quality of the teams working on it. Watched it progress from fields and derelict sites at an immense rate and if was left to run at that speed with finance in place, then in 18 months we would be seeing the product dropping off the end of the belt. Unfortunately now, because of a lacklustre and self obsessed govt. and banks that want everything for nothing it’s going to be slowed. Unfortunate doesn’t cover it. However they managed to get away with bailing the banks out without falling foul of eu law defies belief.
I think we’re paddling against the current with some of the questions on here. Let’s make it really simple. Has anyone ever signed as a guarantor for a bank loan for one of their kids when they were just starting out? I know I did. In addition it didn’t cost me a penny. Just made it dead easy for the kids to get a cheap loan and repay it themselves. Same thing as the Sirius are asking for....not money, just a bit of faith and some signatures.
The terms of the IPA and the fact that the Government should in fact be following their bureaucrats advice and offering Government guarantees give SM and investors a very clear objective - we simply have to change the Governments mind.
SM's PR machine is clearly in full flow and by the look of some of the newspaper stories is doing a good job.
Residents local to the mine, particularly those who live in the Scarborough and Whitby constituency should be telling their MP that he will be looking for another job if he doesn't get the Government to give the guarantees.
But what can we do - we can sign the bloody petition - please!!!
https://petition.parliament.uk/petitions/269824
And Neil, it doesn’t matter where you or I see where this project fits within IPA framework.
The fact remains that IPA themselves prequalified the project
Any other view is a moot point.
Yes I would.
What was your last username?
It actually beggars belief that IPA has not provided the cover.
Neil.
You should familiarise yourself with the role of the IPA and how it provides guarantees over finance. It does not put up any cash.
There has been far too much misinformation spread here the last few days most likely by those ticking up your post.
See point number 1 of the IPA then revise your opinion.
https://www.gov.uk/government/organisations/infrastructure-and-projects-authority/about#responsibilities
And will also create a huge amount of jobs for the next 100 years
NH the IPA is absolutely there for times like these when a company has huge potential but can't get funding .
SM if successful will more than reward this country financially for what is a guarantee not a bail out. there are fees attached as well so a profit for the gov,
Actually its people who live in the Scarborough and Whitby constituency who are the most important when it comes to signing the petition - with an election looming - the Tory's don't have a very big majority - scare them into action to help SM.
Re the petition , anyone think it may be better timing for the IPA to offer support and a bit of a fanfare during an election ?????? mmmmmmmmmmm
No, Mr.dt all I am saying is sign the bloody petition - every little helps - it takes less than 30 seconds.
And that applies to anyone else who hasn't signed it yet - sign the bloody petition.
https://petition.parliament.uk/petitions/269824
Chilting, our government are fully aware of the national significance of this project, they probably feel really, really, really hopefull that this project succeeds and pays into the coffers. But, they are stipulated by rules and cannot just pick and choose outside of those rules because that just wouldn't be fair.
The way your behaving is like saying that every pitch on dragons den should lead to some investment or and I hate to say it....like remainers who can't grasp the fact of a fair democratic vote......
I'm not wasting my bloody time signing this stupid petition
Mr.dt.
A petition on its own probably won't make any difference at all - agreed.
But put into the mix with everything else - press reports - local and national pressure on politicians - pressure from SM etc etc. - it can make a difference.
Anyway, it is one of the few ways we can actually do anything - so please sign the bloody petition.
https://petition.parliament.uk/petitions/269824
85k PIs get a friend of family to sign the petition then we get them to discuss In parliament? What is it at a couple of thousand ? Supposing you do get a lot more I’d be very surprised to see it get past the 10 k ???? Now if I were the gov I wouldn’t see that as something more important than many causes ???? Whereas the latter off to your local MPs might get a mention, Besides it hardly seems like this rabble are interested in the little man ? Seems to me that the co are talking to the gov without being “made” to ???? And judging by the two articles today our PR team are doing a fine job of getting the true message out there ????notice all the little points like the many that want us to fail, it’s a loan guarantee not a loan, the truth ? That’s been spoon fed not left to some sctibe sensationalising it !!! Any idea how busy IR must be right now? Good job they had a little holiday “breather” before all this ? Wouldn’t be surprised to see a few more articles tomorrow?
Gla
Ffc
Difficult to stay away eh Fred !!!
Good2behere. I do yes but a petition isn't going to sway their current stance or decision. For whatever reason at the moment they aren't willing to underwrite anything (due to risk probably) but at the same time do support the project and prospects to support the local economy and national economy ( GDP ). Signing this silly petition isn't going to sway their decision anymore than where they currently stand so it is a pointless exercise.
Discolsure: I have nothing against petitions in general and have made the effort to sign many in the past ( Sarah's law is one that springs to mind )
Mr.dt
So you don't think Gov. should underwrite a £500m loan ( ie do nothing but a pledge). May I ask why