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RuSirius
All the PR and the spin wasn't just aimed at investors - it was aimed at the locals, media and politicians.
I still maintain that the project didn't get the political support it deserved - in any other country of the world their Government's would have backed this to the hilt - in this country we seem to have a total blind spot when it comes to promoting new enterprise. Investors from other countries didn't understand why the Government were not offering guarantees, took it as a big negative, and walked away.
If anyone invests more than they can afford to lose, it is their fault and nobody should ever borrow heavily to invest in a company that has yet to come into production. Mining companies are notoriously high risk and over the years have cost investors billions. By all means have these businesses in a balanced portfolio of investments but never risk everything regardless of what individuals or share tipsters write. It is more likely to go badly wrong than make a fortune as any research will show and this looks like another to add to that history.
I would absolutely concur, kk when investors are told they are being represented and every avenue to secure funding, only to find out a few weeks before there are cosy chats in the pub going on.... well that says it all to me.. No blame should lie (for want of a better word) with the small investor. The only true believers in the project get squatted over and p!55£d on from a great financial height. I along with others those pesky bankers representing the good ol US of A have a hell of a lot to do with this situation as well as the Sirius mob.
An investor can only choose to invest on the information it is given. When the information given is absolute nonsense then yes CF and Sirius co hogs are to blame. NOT THE SMALL PRIVATE INVESTOR.
This strategy does work - although I increased my Sirius stake beyond what I should have done - I am now back to break even on paper after the September drop - the trouble is that my profits have gone.
I thought it was 20% chance of success, or 80% chance of failure?
Yes but 4 of the 5 companies have failed.
So if you invested in 20 companies with each one having a 20% chance of success , you would land up with 20%.
calamari if company A had a 20% chance of success, and company B had a 20 % chance of success
If A was successful would it have an impact on company B.
Major investors are always in the know.
IIs are the first to know. PIs are the last.
One of the things I am interested in is , would there have already been communication with the IIs as to how they would vote before recommending this ? ( I imagine there would have been )
Or are there rules that wouldn't allow that ?
ffc
*entitled
Entiglthed to an opinion tex no probs with that
Atb
FFC yeah we can argue about that probability, maybe 5% maybe 50% guess it depends when you bought in.
Anyway, not a great situation and I will continue to follow with Interest to see if more details come to light.
Zero press communication from Sxx is telling.
I imagine CF will be taken into AAL and then exit in a relatively short space of time with another great package Again it’s par for the course. Realistically is AAL a company he wants to work in?? I doubt it very much.
Bottom of the bottle is fast approaching. Apologies if I have been a bit opinionated this evening.
Agree rewarded for failure when at such a level stinks but thats how it is and it will never change, for the little man or woman defo hard to swallow and you have to pick urself up from the lows least we have our dignity tho n can go out of this world with our heads high and not a crook
Gla
Tex I agree with all of your 21.50 apart from your last line!
I'm afraid I think that your " this had a 20% chance of being pulled off" a tad underdone given the fundamentals ??
Hindsight is indeed a wonderful thing ?
I'm pretty sure he was trying a good deal more and up until more recently than some here have suggested too,
Not saying he hasn't let us down badly because he has and tbh if by some slim chance we do pull off a no vote and survive I'll be encouraging a change at the top ...
We'll see
ffc
Gertfrobe, correct. The first time I liked the story, the second time was a complete punt.
The 20% probability referred to hearing the original story and holding to the bitter end. I didn’t do that.
My punt was a small % of my overall investments. On these start up shares you can win and lose so you need to spread your bets. Only invest what you can afford to lose and don’t get emotionless attached. This one could have been a big win for people, unfortunately it didn’t work out.
It’s hard to swallow. Is it ok? Ok, not sure.
The mine gets built
Local jobs are created
The region will benefit over time as the local infrastructure grows.
If I have just lost cash because of the situation then naturally I would have a potential issue with that. If I am looking in from the outside then maybe there is a case.
The other thing is, this is par for the course in the business system we live in. How many examples of fat cat CEOs getting huge exit packages for failing. Compared to many, £7m is a snip.
Tex you invested your hard earned because you liked the story, believing it had a 20% chance of success.
Jumbo - there another 84999 bottles of snake oil available . Not worth sod all though. We all bought the spin.
Wouldn’t mind the chance to pour mine over the head of Chris Failure.
JJ
It's ok for failure Fraser to become a millionaire tho 7 times over?
I originally bought because I liked the story and the idea of moving to the FTSE. Plus at the time there was huge positive media coverage. When we moved to the FTSE things slowed down. I remember talk of ‘60p by Christmas’, I decided to take about 50% profit and get out when the share started to dip post entry to ftse.
When the crash happens last year I saw 3p and thought it’s worth a decent punt I believed something would happen and they wouldn’t fill the hole in.
Always saw upside to 3p as the most unlikely situation was going bust (given the investment to date and the progress of the project)) Sold when we hit 4p bought in again at low 3ps and held till where we are now.
I have real sympathy for the majority of investors however, for the few who thought that this share was a given to make them millionaires, then I don’t have much. Sorry.
Tex I’ll put it another way why would you invest in a share than you believed had only a 20% chance of success ???
Tex why did you buy SXX.
JR. Did you honestly think what CF said was a given?
Did you honestly assume there was no risk to your investment and you would make 20 x 30 x 40 x your buy in, plus get divs ?
Surely you listened to the story and thought, there is at best a 20% chance of him pulling this off.?
He is going to try and do his job, doesn’t mean he will be successful.