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Bucky, what's your theory on the ii's incresing there holdings.
Totally agree. This stinks. Fraser has a nice safety net in the form of employment with AAL, and 19M quid to divi up between the senior execs (who also all stay on at AAL). The rest of his are hung out to dry. It stinks. He's a grade A turd.
To say that historical data suggests no PI appetite for a raise is absolute balls. Many PI's have had to sell out to salvage something and are sitting on cash that most would plough back in to a raise if they could see a path to production when the share would be a multiple of what it is now and would recoup most losses. PI's still holding would also dig deep with the knowledge that it is the only way to save their investment. To quote historical data and relate it to the unprecedent situation before us is disingenuous at best. There is plenty of PI money ready to be reinvested.
The BOD are complicit in robbing us blind. I'm not saying this started out as intentional theft but once Fraser could see a rescue by his AAL buddies and job continuity he had a path to mitigate the disaster he created for himself at the expense of the rest of us. That's what stinks and that's why he's a turd and I hope we are rescued despite him and then we can sack him at the next AGM. He's a ****.
If the sale to AAL does go through I wish him bad karma for the rest of his days.
The BoD are not playing poker with you, this is serious business.
Your havin a F***ing laugh ar’nt you!!!
I have been a holder since well before Planning Permission and have added since to accumulate a holding exceeding that of the majority of the members of the BOD.
I am of the opinion that we are where we are, not due to unfortunate events, but due to manipulation. I am a Civil Engineer and was therefore more than surprised that, despite using experienced consultants and internationally recognised contractors, it was demanded that we changed the tunnel specification, requiring an extra $600 million to be raised. The present problems flowed from our agreement to do this. That this was not necessary is amply demonstrated by the inferior, yet still efficatious, methodology and reduced cost of the revised planned drive from the the shaft towards Wilton. Makes you think don't it!
I am also drawn to speculate what would happen if it became known that the AA offer would be voted down. Fraser would lose £6m in shares and a reported £1m in future salary. I should think this would be sufficient stimulus to prompt him into fruitful activity.
I decided to sell as my average was fairly low but did not want to risk losing all. I have been in since before planning so first bought at 6p and never thought after planning agreed I could make a loss :) sad to have sold as I was in for long term but cannot afford a big loss….good luck to all who remain I hope you dont get the final kick in the XXXXX
Hope.
There very well may be, however we are probably not going to find out until things are moving at which point if you are not holding you are snookered as you will not be getting back in easily.
I'm holding my last until the end.
worst case I think, the shares are sold for me so I get my money back.
best case I still hold while there is a counter bid and the shares go up.
Bucky, I know you will say worst case SXX goes bankrupt and I get nothing, however I don't think it will come to that as II are grabbing shares for some .... unknown ..... reason.
How does due diligence work during an acquisition?
https://www.ftadviser.com/your-industry/2020/02/05/how-does-due-diligence-work-during-an-acquisition/
Will this that AA will have the votes they need for the take over? Or is there another larger mining company in the back ground ready to make a counter bid????????
Thank you for explaining that.
poolielad: "What does this mean??"
SM has been a speculative adventure mostly owned by small IPs (over 70% and than 60%).
SM had also attracted many big names, and they have increased their holdings gradually.
Now, at this critical time, the IIs' holdings are keeping increasing; over 51% now.
They are not as easily manipulated as small PIs. Hope they will push, involve, and support better deals than the current one that kicks all the shareholders out with a few pennies.
Yes, You're missing that if the takeover vote is "NO", then you could end up with nowt within a fortnight....Or so we're told....
Jump or Wait ???
Read the RNS 20/01/20 however I strongly advise opening all your windows first.
It stinks.
Koh
Shouldn't you be worrying about your new Investment rather than coming back here given that you sold up !!!
Whats the point/benefit of not holding till the end??? The least we are going to get is 5.5p per share.....The only way is up surely...or its as it is 5.5p per share.Or am I missing something??
Jump or Wait ???
___
Jump, and preferably land on Fraser's face (with both legs).
KOH
What does this mean??
Adding
Capital Group, 196.8m, 2.8%
Citigroup Global, 250.7m, 3.57%
Now big IIs hold 3561m, 51%; I.e. from now on IIs own more shares than PIs.
Wait for me , till the doors shut , the whole anglo sirius jpm , triangle , stinks to hell , the ii s increase s in the past month , leaves some hope
Capital Group and Citi Bank should still have quite amount of shares; it is quite strange that they have not reported in this period.
Polygon, 598.4m, 8.524% (CFD increasing)
Jupiter: 547.2m, 7.79%
Pelham, 353.5m, 5.04%
Qatar, 230.2m, 3.28%
Vanguard, 224m, 3.19%
BlackRock,200.6m, 2.85%
Norges Bank, 156.2m, 2.23%
Legal & General, 144.4m, 2.05%
Barclays PLC. 119.5m, 1.70% (119m short)
Jefferies, 117m, 1.66% (117m short)
Societe Generale, 114m, 1.63% (114m short)
Bank of Nova Scotia, 44.8m
Oasis, 43.8m (CB increasing)
State Street, 74.4m
Perry Morgan, 66.2m
Sculptor Capital LP, 33.8m CB (shorted 141m)
UBS, 22.4m
Citadel, 3m (7m CB, 91m short)
SUNRISE PARTNER, 6m
Weiss Asset Management,7m new CB
Whitebox, 7.4m CB (53.9m short)
Highbridge, 5m new CB
22 of IIs, there are some smaller ones not in the list.
3113m in total, 44.35% of the current total shares 7020m
A good article in Teesside Live:
https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-top-shareholder-urges-17687829#comments-section
I'm holding on til end .....
The avalanche of cheap money has no were to go except stocks other wise AAL would be no were near this price
In just over a year AAL have gained over 33% over 7 bill.since sxx they are down 8% approx when the market pops they will loose half their value as most sh of mines are speculators waiting for first signs of downturn the bull run can not last and if things go pear shape they will bale.they have only gained a ridiculous sp because money has lost value thanks to the barmy ECB and fed
Does anyone have a list of the II's which are still buying, so far I'm aware polygon have 8.5% and vanguard at 3.19% - both have been increasing their positions. I'm still holding until i know for sure, these guys have a motive to increase the bid or help get the funding sorted.
Neil, we could very well have an interesting situation unfolding before our eyes right now with the move being made by Polygon. They've very quickly taken a stake of ~10% and still going. I can't see them just being interested in possibly making 1 or 2 p on the shares. With $19B under management, there are a number of scenarios going through my mind.
IMO, the worst case is 5.5p because I can't see AAL pulling out. When I listened to their CEO's analyst call recently, it was clear that they're drooling over this opportunity.