Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I asked this question a while back but not sure if I got a reply with the volume of posts at the time:
Are there any companies that have gone to the wall requiring a cash injection to stay afloat and done so not tapping shareholders for required money?
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It's a very good question 15LIVES. And neatly illustrates why there is a significant level of anger towards Fraser and the yes men/women on the Board
You picked the wrong piece of the project to make your point. The tunnel is progressing significantly ahead of schedule and the contract is on a fixed price basis. The tunnel is a red herring, it's the least of the issues. In fact it's a non-issue. But you domt really care, you're just here to wind people up. Saddo
Skier1
“Firms are now hoarding cash, not spending it.“
Rio Tinto said yesterday it was spending $1 billion to reduce its carbon footprint.they only need to raise their price of iron ore by 30 cents/ tonne to pay for it.
With the world plunging into recession, China death virus smashing trade, and the Dow collapsing, the chance of a counterbid here is zero. Firms are now hoarding cash, not spending it.
Who in their right mind gambles £700,000 on a cr*ppy little company in the sticks run by a dreamer trying to build something bigger than the Channel Tunnel !!!
Voting yes to save jobs and keeping the project alive, assumes that that AAL will follow the Sirius plan.
Any investment into this project by AAL would seem to be slow and measured going forward.
A proper evaluation needed.
Will they target MOP, SOP, salt or poly4 and it what proportions.
Are torps an asset or a liability
Good luck Jon - that’s big money and you must have had a stressful few weeks - well done with GGP - think you’ll be okay there!
Casa - that’s quite a story! I will take that with me going forward as it seems I’m being drawn to AIM rather than footsie! Plus I’ve got some money ready and waiting and hoping to see what happens here.
COME ON MINING COMPANIES: BHP, GLENCORE, RIO TINTO... Make a COUNTER BID, you know the FANTASTIC FUNDAMENTALS with this company. Worth £30 billion when in full production. £2.3 billion every year for 100+ years. Local community fully committed FINANCIALLY AND MORALLY!!
Link appears to be down?
Link appears to be down?
Oh hang on. casp has been out done , why the hell would you post that? Seriously?
John - you da man :-)
Sorry Casp you clearly need to try harder.
That is the funniest post I have read for a long time. OMG, why would you write that?
The Company considers that its strategy for entering the market and the expected long-term pricing of POLY4, combined with the planned production ramp up, will position the Project in the high margin/high volume scenario with annual free cash flows reaching in excess of US$3 billion.
Installing Project infrastructure that has the ability to quickly ramp up production will enable the Company to control volumes in order to maximise returns and respond to market conditions. Even in a conservative downside scenario, in which POLY4 is priced at US$100/t, the Company would be able to increase production and still deliver EBITDA of more than US$1 billion.
I asked this question a while back but not sure if I got a reply with the volume of posts at the time:
Are there any companies that have gone to the wall requiring a cash injection to stay afloat and done so not tapping shareholders for required money?
Jacko
I've just read this about Steve Davies. I must say that when I first heard about Jupiter's protestations I also read about the poor performance of his fund and that made me think his call was out of desperation even though I also obviously think we are being robbed. If I thought that I'm sure AAL and JPM etc did likewise. It didn't give me confidence that his request would be needed and now he is gone.
But presumably you mean at a higher price equivalent than 5.5p per share otherwise you may as well buy in the market. Both are dropping fast at the moment
Sold 6 million yesterday & was holding strong for possible better offer then interloper which may still happen
In the end I had average of 0.11 (down from 0.25).I know we all wanted to keep a stake ongoing but to be honest I was kind of hoping for 0.07 or so but just couldn't risjk it in the end.0.055 would have got me £330K & got £305K when I sold so about £335K down & gutted.On the plus side & not advice but GGP is still a decent option even though JR is all in (sorry JR !!) I bought mid/end Jan 10 million at 0.032 so about £150K up there so far
HI Fred you remembered my offer of a cautionary tale which helped me to refine my cautious investment stance .Here it is copied from another board where I posted it some time ago.
"A while ago someone (clearly a super-intelligent chap) commented on my crystal ball and my unerring ability to predict the path of share prices. Today as a one-off never to be repeated offer I am willing to let you all have the secret of my success.
First you start investing thirty years ago, you invest carefully and find some success. after a while you come to believe that this is easy, your assets are rising and then you realise that you are making as much money investing as working.
So you resign from your job , sell your reasonably valuable house to fatten your portfolio , move to a modest cottage in the countryside and continue to invest.You diversify, selling call options against your FTSE 100 blue chips. Which means that if the SP rises you are contracted to sell the shares at an agreed price ,BUT you get the profit of the SP rise and a "fee" for the option . When the SP rises you buy it back , sell the option again and again . You make even more money and get even bolder you trade "straddles" and strangles"and soon you have a considerable sum. Bolder still you start selling "uncovered calls"for which you receive substantial sums but bear significant risk , but I knew what i was doing didn't I !!
One day Senora Casa sees an ad in The times for property in Spain and as we are flush, off we go down to Andalucia, see a few, agree to buy one.Saturday and we drive down to the coast , having Coffee I read the copy of the FT I found in the local newsagents(remember no internet in rural spain, no mobile coverage).
First thing i always do is check the Share prices at the back . one in particular BAE,I have a large position and the SP has crashed on rumours of a lost major contract!!!! I casually calculate my rough position . I am down by a substantial 5 figure sum ,actually more than the cost of the house we are about to buy, and more than I have made in the last two years!!! Nonchalantly I mop up the spilled coffee and ponder my options (quite literally)
Saturday night sleepless , sunday night sleepless, monday morning in to the local village, on the phone to my broker, he confirms that he will taking almost all the cash in the account as "margin". I ask him to close the trade.
Tuesday morning back to the same phone (with a fresh supply of 100 peseta coins)I call the broker he apologises that because the market was a bit frantic he couldn't close the position and pauses..............But ,BAE has recovered and if I wish i can now close for ....... a few hundred quid loss. He probably heard my YEEEESSSS without the aid of the phone!
So that's why I invest cautiously , my name here is a daily reminder of hubris and overconfidence ,though we did manage to buy the house in the pines.
JV as originally sought would solve this mess. Mr Cutafani if you’re tuned in... ....reimagine mining to improve peoples lives?” AA strap line.
Let’s see you live up to it.
I sold my entire holding this morning losing £17500. Gutted by the loss but the sense of relief that I no longer have to worry about the uncertainty is enormous. I wish all the best to those with the stomach to carry on and really hope that it comes good for you. Would love to see CF get his comeuppance.
Ed - I have emailed you again - have u got it
Thanks
LET'S HOPE 'NO' VOTE PREVAILS. This company is too big to fail! LOOK AT THE FUNDAMENTALS. Interesting read regarding Anglo American at one point were looking at offering SHARE SWAP. I would rather have Anglo American shares than 5.5p cash offer. But knowing the Sirius board of directors, I would not hold any hope of them negotiating a favourable exchange!! Anglo American hopefully are OUTBID BY A COUNTER OFFER!! shareholders STAY STRONG!!
Cristoire are you with HL ?
Hope so as I guess the are by far the largest holders platform wise ?