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https://www.thetimes.co.uk/article/blackstone-set-to-invest-billions-in-britain-stm0r7z79
I hope this is a Watershed moment for AIM.
The way people have been stitched up here is a National disgrace. It just shows the little guy will never win the Government arent for helping any projects in the UK or working people do better for themselves.
Why would anyone ever invest in an AIM company again. Boycot them . It will lose the Govt more than the 400M needed here.
SXX,SOU,ECHO,UKOG,
All ran by a bunch of useless charlatans.
my understanding is that these lot are proxy agencies. they make there money by making independent recommendations for stuff like this. they do the same for agm s. instos and others pay for their reports I think.
5Orrell - my heart goes out to you and your family.
I am retired and live close to Woodsmith. I have an autistic son who I wanted to leave a nest egg to after I am gone. Believed CF at the York SXX AGM’s, and the promise if divis from c 2026 on. Felt I was doing the right thing investing in a great local project, and providing for my lad in the long term.
I too have voted NO for next Tues. As a man of principle, I cannot stomach CF walking into a cushy new job with £7m in his back pocket.
More fool me for placing my trust in these empty false promises. I still sincerely hope that there may be a route that will let me remain a part of this project after next week.
But hey - neither of us have had our messages taken down (yet). Maybe CF is too busy in the crapper to have been on the BB yet.
Well done Max keep at it !
why not mothball the project until the bond market and economy has recovered, then get a new BOD, the assets are still there ,.AA will probably do this anyway, as de Beers is dragging them down financially and coronavirus is not helping.
Shareholders can protect their shares buying bonds which pay healthy interest in the proposal
Please visit the web site, take the survey and tell everyone
Open to everyone not just shareholders. www.FundSirius.com
In simple terms phish of , ill take my chances , whos paying these people , i can smell people sweating ere ?
Leading shareholder advisory groups have recommended that Sirius Minerals investors accept the company’s proposed £405 million takeover by Anglo American.
Institutional Shareholder Services and Glass Lewis both advised investors in the North Yorkshire fertiliser mine developer to vote in favour of the 5½p-a-share offer, echoing a warning by Sirius’s board that if they did not they would risk being wiped out altogether.
ISS said: “While this proposal represents a disappointing outcome for many shareholders, the company is set to run out of cash by the end of March 2020 and this transaction is the only viable option identified.”
Glass Lewis said that it believed the deal was “reasonable and in the best interests of shareholders”, given that otherwise Sirius was “likely to be placed into administration or liquidation and that shareholders would face the risk of receiving little, if any, value for their holdings in this process”.
Sirius Minerals is developing the Woodsmith mine near Whitby to produce polyhalite, a nutrient-rich mineral, from a mile beneath the North York Moors National Park and to transport it through a 23-mile tunnel to Teesside for processing and export.
It has already invested more than $1 billion in the project but has failed to raise the $3 billion needed to complete it, sending its shares — worth 37p less than two years ago — plummeting. It reluctantly recommended the takeover by Anglo after concluding that it had no other options to prevent it going bust.
The takeover is in doubt largely owing to uncertainty over the voting intentions of Sirius’s retail shareholders, who numbered 85,000 as of the end of 2018, when they owned about half of the company. Many have vowed to vote against the deal, either because they believe a better offer or alternative funding model could materialise, or because they want to punish management. Odey Asset Management, the hedge fund, also has threatened to vote against unless the offer is declared “final” or increased to 7p a share.
The deal requires approval by 75 per cent of Sirius shareholders by value and 50 per cent by number voting at a meeting a week today. In practice, many will be lodging their vote in advance through investment platforms or proxy voting agencies.
The Sharesoc Sirius shareholders group, a campaign body, said: “We have spoken with Anglo American and have requested concessions on pricing and/or on allowing existing shareholders to retain a continued economic interest in the project. They have very politely told us that the choice for shareholders is a simple yes or no.”
Whole thread on Glass Lewis and ISS wiped. So let's try again. Anglo and Fraser must be getting desperate if they think Yorkshire investors are going to take any notice of a couple of US firms they have never heard of offering their two pennyworth.
How interesting that Mark Twain had this summed up all those years ago. According to Mark Twain the definition of a mine is "a hole in the ground with a liar standing next to it."!!!!!!!!!!!!!! (Shamelessly borrowed from another group!)
“I keep reading about this government guarantee-there never was one.”
The information that was given by Sirius was good enough to gain pre qualification , however when the IPA carried out its own due diligence it failed. I would like to know the main points of contention between what Sirius claimed and what the IPA found.
Why don’t we all vote NO....if it goes against us..why not all picket outside the gates to protest and make it unbearable to the liquidators .... make the press....challenge the local MPs .... fight for each other...
surely something should be done about this guy he has destroyed so many people lives, such as the war hero who lost his life pay out of £130,000 and the farmer who lost a similar amount. if there,s any one out there who important don,t let this guy get away with what he has done to hard working honest people who trusted every thing he said !
Hello Chris & your close mates,
I love you all so much ,I would like to all give my blessing & give a BIG FAT VOTE, so you can all receive your well earn’t bonus & your mates to all receive that money .
By the way last year , I was given a life changing disease ( PKD )... An all my saving was put into you lovley trusted pot over 6 years , so when the that day comes, all my trusted investment was going to my family... Thanks for That, I really really appreciate what you’ve do for me & my family!!
Have a good day because you can be ashore that you have stitched me me up like a right good one!!!
God Bless you , JPM & your Aussie Mate’s, You all deserve to live you life’s somewhere very very hot! ( An that’s no where on this earth! )
L**e 5orrell ( v v v )
P.s
Oh an it’s a NO Vote from me.
Good morn Chris, so glad to know that you and/or your minions monitor this BB so closely, and report/ delete any message that might be seen as negative PR before the big day next Tues.
There are so many questions that the loyal local PI’s would like answered.
For example - the top secret visit by Cutefanny and his fellow Highwaymen to Woodsmith et al last Sept, and the cosy deal hatched afterwards.
By previous actIons, I will give 30 mins before you get this deleted, and prove what a loveless snake you really are!
"GK will be sitting pretty somewhere, he played it well, shorted it when it mattered."
He realised early on what a lot of us did not, that this was primarily a trader's share and not a long term holders share and thus made good profits most of the time. But he lost some of that when he got caught out buying at 15p just before the big plunge.
Why the convertible bonds then. Which allowed you nstitutions to short the price down making a fortune.
Trickydicky
I'm fully aware of whether off takes are enforceable. That's not the purpose and context of why I referred to then. Dogstar posted that there was no independent verification for the efficacy of our product. My point, regardless of whether off takes are enforceable, is that others wouldn't be wanting our product if it's efficacy hadn't been proved.
Jiffybag
I agree with you on JPM. But I was referring merely about Fraser in my post.
TDT
So why are AAL buying this? Have they bought into the hype?
A punt on poly4? , it will sell at its true value but what would that be if it did reach 10MTA?
Perhaps they will target MOP at a depth of 1300 metres, proven product.
Error, you seem to have forgotten who chose to employ JPM. So need for calculations and assumptions. The employment contract for JPM should have made it very clear that there must be no shorting by them or any of their associated companies.
15 Lives,
Re: The one single over riding question above all others which those who proclaim Fraser orchestrsted this whole affair can not give an explanation for, is why someone would deliberately force a a share down to such a lowly figure, resulting in a one off payment instead of said payment instead being paid on an annual basis in the form of a dividend for the next potential one hundred years. '
Where in your calculations and assumptions, have you accounted for the actions of JPM whom via Highbridge shorted this share to death?
I think Myo is working with ShareSoc