Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AAL also publishing ads in newspapers today apparently (Daily Mail for one). I haven't seen it but if this is true it shows what we're up against. The giant AAL is trying to shove this down our throat, spending money on newspaper ads, bribing the local community with 4 million quid, sweetening the pot with Fraser and his cronies with 19 million quid.
On the other side the NO campaign hasn't got or spent a penny. Just word of mouth.
This is David versus Goliath.
The locals really need to make sure every single local shareholder casts their vote. They can cast in how they like but if I was local I wouldn't want Cutafani and his shower anywhere near my community. He'll railroad over the lot of you like he's doing to us. Their behaviour, phone calls and all, is just a taster of what's to come.
This ought to be illegal. Armed with this info, you could make a killing either going long or short on the sp How can this be allowed. If this is a flavor of how AAL operate God help the local workers and community if they takeover the mine.
Every NO vote counts. Contact your broker and register your vote. This behavior from AAL and the BOD is disgusting
Just shows how committed Cutifani is to investing in locals! Use an Aussie and he will get more no votes for insulting local peoples intelligence. What does an Aussie know about how Fraser and Cutifani have angered shareholders? Nowt!
Evidently the appropriately named Cutifani hadn't yet worked out that it is local people that have funded the mine that has been built to date that he is attempting to get for substantially less than what locals have paid to build it, and that locals are not swallowing his "locals" BS.
IMO, I would be happy for another sp swing - going down to 4p range..
UncleBean - dream on, this implies deal on an agreed price (AAL bought .. who wanted to sell), but desires of some shareholders (aka sp) are unlimited/sky-high ..
It's 100% TO or admin (zero to sh) and picking up pieces by interested party.
What if AAL bought the shareholders shares who wanted to sell and kept SM as a separately listed company for those of us that don't? Yes we could be shafted with dilution at AAL's whim but would they risk their credibility?
Hiring someone means extra spending which could go towards TO bid price consequently persuading more and more sxx investors to agree.. I mean I'm already in favor of TO but higher final sp will make me even happier..
AAL/SM surely should have realised the shareholder backlash that this move would cause.
Talk about shooting yourselves in the foot.
secrets
Engaging Aussie firm and Aussie CEO to convince shareholders to vote in support of takeover agreed with his ex Fortescue Aussie friends.
Truly disgusting.
Vote NO.
KOH
Asked why Anglo had not set scope 3 emissions reductions targets, Mr Cutifani said it did not want to “throw a date or target out there” without understanding the consequences and took a swipe at rivals.
“I think there are too many people throwing stuff around at the moment and I suspect many don’t understand or aren’t committed to making the changes,” he said. He then denied this was a reference to BP.
Mr Cutifani said targets were meaningless without “substance” to show how they would be met and that Anglo planned to set out its own plans in April. “It’s all about what you do, not what you say you’re going to do,” he adde
Anglo American has insisted its £405 million bid for Sirius Minerals is “fair and reasonable” after a hedge fund joined small shareholders in pushing for a higher offer.
Mark Cutifani, chief executive, claimed the deal would allow the North Yorkshire fertiliser mine to “play a key role in the concept of the northern powerhouse”, calling this “the biggest benefit for everyone”.
Speaking a day after Odey Asset Management said that the 5.5p-a-share offer was not fair value and that Anglo would be willing to bid significantly more, Mr Cutifani said the level of the offer “takes into account the future investment needs and the project needs”.
The deal is also facing opposition from some of Sirius’s tens of thousands of retail shareholders, many of whom live close to the project and are facing heavy losses on their investments.
Mr Cutifani said: “We understand how important this project is to the community of North Yorkshire. If we are successful, we bring certainty that at the moment isn’t there for the project and the community.”
He urged shareholders to read the statement by Sirius’s chairman, which set out a stark choice between the Anglo offer or Sirius likely going bust within weeks, wiping out investments altogether.
Anglo American, which is listed in London and Johannesburg, is one of the world’s biggest mining groups producing commodities including coal, copper, iron ore, platinum and diamonds.
The Sirius project involves mining polyhalite fertiliser from beneath the North York Moors near Whitby.
This morning Anglo reported a 9 per cent rise in underlying ebitda to $10 billion, aided by much higher prices for iron ore and palladium, offset in part by lower prices for coal and diamonds. It also benefited from the ramp up of operations from its Minas Rio iron ore mine in Brazil, which was shut for most of 2018, but was hit by weaker demand for diamonds. The results were better than expected, sending shares up 1.3 per cent in early trading. Net profits were flat at $3.5 billion.
While other global miners have warned over the impact of the coronavirus, which is knocking China’s demand for raw materials, Mr Cutifani said that Anglo expected it to be “mostly a short term issue” and said it was “less reliant on China than most of our competitors”. However, its diamonds business De Beers was expected to feel the effects as there “aren’t too many people wandering through jewellery stores at the moment”.
Natural resources companies are under pressure to take action to reduce their carbon footprints, including the “scope 3” emissions from customers using their products. Glencore said this week that it projected a 30 per cent drop in its scope 3 emissions by 2035 and BP last week set out an “ambition” to cut its carbon footprint to “net zero” by 2050.
Asked why Anglo had not set scope 3 emissions reductions targets, Mr Cutifani said it did not want to “throw a date or target out there” without understanding the consequen
The group has previously courted controversy.
'Georgeson was forced to pay $4.5m in 2017 and enter into a deferred prosecution agreement to resolve US prosecutors’ claims that its employees paid bribes to obtain secret information about how clients of a proxy advisory firm intended to voted on corporate matters.'
Mind you I think we are going to have a few big news days before then ?
Not sure what but still waiting for Polygon to show their hand yet ?
I'm feeling very nervous already I'm going to be a gibbering wreck in 12 days time ....
http://www.fundsirius.com
Just convincing me to vote no
'Quoting ancient Chinese military strategist Sun Tzu, the company says on its website: "The supreme art of war is to subdue the enemy without fighting." '
IBAB?