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RUSirius, how long have you considered our BOD to be shysters?

I too was one of those convinced we were looking down the barrel of 10bn shares. However, now that we have stage2 sorted (hopefully) where do you see the next shortfall in monies arising seeing as how contractors are on a pay or gain?

RUSirius, at what point in our cycle did you come to the opinion CF was a shyster and at that point what was the share price?

I may be a bit behind the curve there then as I was going from memory regarding figures from a few years back. I seemed to recall $14.8bn at 13mtpa and approx $28bn at 20mtpa.

To be honest I haven't had time to devote to this week's announcement properly with many late nights due to work etc so was intending to catch up properly over the weekend when I'll have more time to digest the RNS.

From the few posts I have read there seems to be some disagreement between about 8bn to 10bn shares in issue once everything is shaken out.

Just pleased to be in a position now where we have stage2 funding although with a RCF conditions. To me, long term here has always been of 20mtpa. Despite the shenanigans this week providing construction goes to time and budget I still believe this share to be a multi bagger with the potential to change lives for those with the patience.

Don't forget when working out projections forecasts that are in $ and those that are in £.

Bicko I've been investing since I was 16. First share was British Telecom when it was privatised. I've been through some ups and downs on the stock market rollercoaster. Worst for me was the crash of '87. I earned £60 a week back then and through investing had managed to get ten grand in the share pot, which to me was a lot of money back then. Over two days I lost 75%. I remember standing in the bus stop when the market dropped that day, newspaper in trembling hands, desperate to get home to the ceefax to see how much I'd lost ( you'll have to ask your grandad about that).

It was a hard lesson learnt. What it taught me above all was patience. Patience to remain invested in a company if you believe in its long term fundamentals. The desperation for answers in your inexperienced words is deafening. I don't say that to be nasty as it's meant to help you focus. To focus on the fundamentals here in the hope you'll realise what to do for the best after the fallout from the past few days.

Best of luck.

Sheps

Excellent post.

Calm, reflective and measured.

I think today has been a wake up call for many, but rather than look at things introspectively, questioning their own expectations relative to Sirius's undertaking it's been far too easy to lay the blame elsewhere.

Hard lessons for many private investors today. I hope for the sake of many it's a hard lesson learnt.

I'm trying to work that thinking of your's out there Chilting to be honest. I started buying at 2p but I certainly wouldn't feel cheated if I was allowed the opportunity to purchase even more shares at a decent discount to the current market price. Just so long as that discount wasn't eroded when the new shares began trading.

Sorry Chilting, I meant if your buy in price was 25p and the rights issue was 30p. It would still be good if the current market price was the 50p.

Chilting

Not really: if your average buy in price is 30p and they do a rights issue at 25p when the current market price is 50p then that's good.

Yes Myo we'll have to see indeed.

Sky sources are saying despite announcement tomorrow deal shall still have to be finalised.

Certainly exciting times now if this plays out as it is being forecast tonight. It's been a long time coming and this stage 2 confirmation if it is as good as what Sky are saying shall be a seminal moment up there when we look back like that of hitting the poly seam during production and seeing Sirius Star slip birth carrying our first cargo.

Never before with my investments have I gibe to bed with such hopeful anticipation and and potential wealth promising.

It's been a long haul to get to here. Much patience but for me never really any doubts that one day this would materialise. I just thought this news, if Sky are correct, would come going into May / June.

Tonight I proudly think of the letter I sent to the planning application several years ago supporting our undertaking along with many as we put our hard earned in at stage 1 to help keep us going.

Now is the time to forget all that talk of wanting the share price low to top up. Now this is the time for us to feel the flight of our long awaited J- curve.

Hi Myo

Why do you say the shares may have to be suspended due to the high level of information that could be put out in the morning?

Surely, regardless of how much info there is and in however many RNS are released it's up to each to absorb the information as much and as quickly as they can before the market opens and to act on it accordingly.

Regards.

Could someone please explain to me how our BOD could many weeks ago have given a definite date for stage2 confirmation when it isn't their decision to make?

Some reactions on here this morning are exactly what many of us predicted. God knows what it shall be like tomorrow when we get a quarterly update and are told stage2 negotiations are still ongoing.

KOH

Oh I agree and know that.

Every investment should be regularly scrutinised and looked at objectively. No place for sentimentality when it comes to investing.

Despite my time here I would be out quicker than a rat up a drainpipe should I suddenly be given cause for concern.

KOH

You are of course correct that a 12p divi is much better than the 10p I gave as an example. What I was trying to convey (rather badly I apologise) was the security I would feel in Sirius if they ever get to a stage where they are paying a 10p dividend. You're right to say I should consider a return higher than that which Sirius shall hopefully pay in a decade or so. And consider it I shall. But immediate improvement in alternative investments would have to be weighed up against ongoing corporate strength and longevity.

Capital appreciation is of utmost importance to me despite my deviation to dividend return since investing in Sirius. As I've posted before, we've waited long enough now so let's get this bloody share up as high as it can go. Even if I'm hanging on for dividends I want that paper wealth too.

If I was a younger man I'd definitely be focussed solely on capital appreciation, but at 52 I'll be knocking on the door of retirement in ten years ( not that I want to retire) and even a 5p dividend is something I could live off and retire on should I choose.

Although I've been invested here for years I would sell within a heartbeat if I thought somewhere else could give me that return with the long term security Sirius offers.

AllCingEye, I heard that about Buffet too on the radio this morning and thought of his involvement here. They then went on to talk about quantum mechanics and how, according to the presenter, you had to employ mental contortions to get your head around it to work out what was going on and how no one knew the next step and it was a guessing game to work out what was going to happen.

I thought ' feck me that's just like Sirius!'

I admit that when I first bought in here many years ago capital appreciation was all that mattered. But as time went by and our undertaking became reality dividend incone, to me at least, has become ever more important. Yes to have a large monetary worth reflected in capital appreciation shall hopefully be of much comfort, but dividend payments shall be the reward of patience and future guaranteed income.

You say it shall be better in the future to take that capital appreciation and invest it somewhere better than Sirius, but if in the future they pay a 10p dividend, as indicated on many occasions as entirely feasible, where else could you get approximately 50% return on your money every year, and with the security for many years to come as Sirius promises?

No dividend income for the next ten years shall rapidly be compensated for if bought at these lowly levels and 10p paid in a decade.

Aubery, I've always thought (hoped) some divi, even if it's a very small percentage, shall be paid out whilst debt is also being repaid.

Our undertaking has been, even to this date, a monumental display of patience and belief by shareholders. Without whom this mine would not be being built. I think if construction goes to time and budget and product is fully sold, as it has been confirmed by this weeks RNS, that loyalty shall start to be rewarded whilst debt is also reduced. Stage 2 conditions may allude and give more insight into that however.

Dinger, I couldn't agree more.

Hypocrisy and pots and kettles for sure.

Aubery, correct me if I'm wrong but wasn't $15bn approx at 10mtpa and $28bn approx at 20mtpa market cap mentioned a few years ago at the time of stage 1?

Cherokee

Despite CF's 'intention' concerning hoped for debt I still think we're in for another bout of heavy dilution. As I said last week I wouldn't be surprised when it all shakes out we'll be about 10bn shares.

When you consider the extent of dilution at stage 1 to raise far less and at a share price approximately 50% higher too I wouldn't be surprised at that final 10bn figure.

But here's the rub: a lot of investors from the impression I get seem to believe that if that happens those lending us the money shall be ripping us off and somehow robbing us of what is rightfully ours.

I think it's worth remembering, as you say, that we need roughly three times our current market worth so those putting their hands in their pockets are understandably going to want something in return. Who wouldn't if they were them? That's the world of business.

I believe we're in the driving seat though with our off takes and construction progress. Hence the suspension of negotiations with the banks and for us to potentially be offered monies elsewhere.

I'm long and strong here. This share shall make many very wealthy and I intend to be one of them even with 10bn shares.

I sincerely hope I'm wrong but in the world of business to me it's likely. And if it does I certainly won't be complaining that I've been robbed or ripped off.

You asked what AlanG thinks. Be careful. I responded to one of his inaccuracies over Easter and I think I've ended up being the other poster he's filtered.