Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Achille - well done for making progress with ShareSoc. Do you happen to know when there will be anything on the ShareSoc website to acknowledge the Sirius Minerals situation? Looks like it takes 48 hours for full membership to be sorted out and time is ticking. Just thought something visible on the site would encourage more of those who already signed up for free membership to go for the £45 full membership - small price to pay considering losses and feels like we are doing something. It may be difficult enough to persuade fellow investors to join with full membership. I know Yashmin has raised this on the Sirius Minerals Investor FB page but there is a disgusting troll on there trying his best to scupper any attempt at rescuing this situation. I can mention this on the Serious Minerals FB page (as I did the other day and many responded at the time) but be best if there was something on the ShareSocwebsite first I assume.
Well done Achille - I got an email yesterday evening just to acknowledge my signing up with ShareSoc. Will wait to hear more regard their response and advice going forward. There have been a number of people on the FB pages saying they have registered. Be worth adding your comments regards their response on those to let them know of your progress. I may not have time this morning but could do it this afternoon if u cannot.
It was posted 2 days ago but I am aware of at least 20+ investors saying they registered yesterday and hopefully momentum will build today. Their advice could be valuable.
This is on the Sirius Minerals private investor FB page (nothing to with Company directly). They have been contacted and we mobilised more to join yesterday. Assume someone needs to take a lead our side at some point . Achille kicked things off on here today. Here is a post on FB page with contacts at ShareSoc at the end:
Given CF's comments following the Daily Mail buy-out article, stating there was no intention to privatise, he has misled us yet again.
I had reached out to ShareSoc @end Oct, with the following:
'Currently SM are undergoing a strategic review, following the difficulties in raising st.2 funding. I just want to ensure that shareholders' interests are being duly considered and are at the heart of this review. CEO CF has been somewhat careless/negligent with recent throwaway comments, especially regarding shareholders with the press, which has had an impact on the share price and offended shareholders:
https://www.thisismoney.co.uk/money/markets/article-7589529/Sirius-Minerals-quit-stock-market-says-boss.html
This article was later updated, as his comments were apparently 'taken out of context'. There were follow-up articles stating that there was no intention to privatise, which begs the question - where might the journalist have gotten the idea?! If this is on the radar at all - I'd say we need someone representing us when considering the buy-out price.
He had made a few other derogatory comments which did not help matters prior - putting down the bulletin boards and shareholders, saying they might been misadvised, that it's high risk, that they had initially served a purpose, etc. - perhaps softening/preparing the masses for a larger blow - which is what many shareholders think.
Myself and no doubt the other 85,000 private investors would appreciate if you would review the situation fully and step in to ensure out interests are being looked after. I feel somebody needs to audit CF's actions at this critical time - now we have 5 months of cashflow left, so it really is make or break. I know he is primarily just trying to keep it running and will retain his mammoth salary and the multitude of jobs, but the shareholders who have put everything they have into this cannot be overlooked or minimised.
https://www.sharesoc.org/ - Point of contact is Mark Bentley/Chris Spencer-Phillips
They had not taken it on yet then because surprisingly, just myself and one other had contacted them to date. With more support/input, I imagine they would mobilise..
Good luck all LTH!
I believe this is an attempt to coordinate a managed response on behalf of investors and in no way is it intended to be vindictive or disruptive. It is precisely the problem that there are so many investors with different ideas and views that this may help to manage those in a cohesive way and save time.
I have mentioned ShareSoc on both FB pages. There had already been talk of ShareSoc on one of the pages so some progress may already have been made. Hopefully, this will provide a focus for shareholder response and representation in an effective way
It is on mine - at the bottom above submit - you have to use the same area where they ask 'Where did you first hear about ShareSoc?'
KOH
You can add more info where you answer the last question above the 'submit' box - up to 256 characters. They ask for more info at the bottom. Main thing at this stage is to register.
Where did you first hear about ShareSoc?
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0 of 256 max characters
It would be most helpful if you could tell us what prompted you to join.
The original text that Achille produced also goes over two posts - by all means contact them as well as register but maybe a shorter message otherwise they'll never get through them all and we don't have much time
Yes, I would suggest we DO NOT all copy and paste all that text - good though it is Achille - the easiest thing to do is register free membership and see what comes tomorrow. Hopefully, we will have a campaign set up and with advice go from them and get as many as possible to sign - just mention that you have joined due to Sirius takeover injustice - sign up for free membership here - https://www.sharesoc.org/membership/associate-membership/.
Sorry come ‘through’ not ‘though’ and ‘I presume’ not ‘Inpersune’ doh
Probably best to become a free member at Share Society in the first instance rather than just contact them. They ask you to indicate why you are joining so can mention Sirius potential takeover injustice or similar - I think they will soon get an idea when several come though - hopefully when we set up a campaign area we can then all join that and coordinate from there. Inpersume emails will be sent out from them regards membership tomorrow.
Lazerus - you echo how many feel I’m sure - looks like share society may be a fairly quick and coordinated way of bring everyone of a like mind together and hopefully we can take advantage of their advice. https://www.sharesoc.org/
Hi Fred, looks like you can set up a campaign and then members join that particular campaign. Achille’s posts at 10:47 is a good start I suggest we see what response he gets and take their advice. As soon as set up we can direct anyone with an interest to the campaign. Hopefully this can start tomorrow as no time to lose. If we get the numbers maybe the press will then take some interest. Maybe Ed will stay involved from Telegraph. Has anyone seen any articles yet?
Presumably, we need to set up a campaign within share society and seek their advice re best way forward and get as many to join the campaign as possible - with free membership you can join and looks like you can donate funds should this be required at any stage. This could be highlighted with Facebook group when set up but assume someone with the knowledge, time, communication skills may need to take a lead.
Agreed - has anyone else already engaged with share society - seems a sensible way of going forward in a controlled manner potentially. Do we wait for their response to your contact and go from there? Will this be an effective way forward? Have they a record of any success? Any press comment today - did not see any comment yesterday which is surprising?
The problem is there are so many differing views on this board as to what to do next and how to go forward - many have sold half (me included), many have sold all, some are still holding all their shares. Most are looking at actual or paper losses of 80% and more. As you rightly say we need someone with knowledge, capability and time to represent us in the best way.
Someone, like Myo, would be my ideal but then many may disagree and Myo may not want to get involved in that way. It is very much rabbit in the headlights time I'm afraid with the clock ticking. I would fully support any attempt at shareholder coordination and action and help as much as I could, financially, if necessary. My fear is we'll run out of time. My hope is another bid is forthcoming or the review still raises some sort of existing shareholder involvement. What makes me angry is the fact that we are being frozen out at the moment and after all the highs and lows and hurdles we have overcome we are frankly disregarded and that's just not right.
We should have some way of keeping a stake in this project even if that stake is diluted. A rights issue or money raise as well as accepting the help of a new partner surely could have been achieved and may still be. Here's hoping.
Ed - I think long term investors feel particularly upset because there were so many us who were prepared to put much more money into Sirius (and likely diluting there holding by a significant amount) to save the situation because the eventual rewards would still make it worthwhile and we retain our investment. We should still get a decent return in the medium to long term. I built up my holding over 10 years investing modest amounts to end up with 500,000 shares. I have now felt compelled to sell half due to this situation. With this turn of events we have basically been overlooked/sidelined and all those long term investors who have supported the company during this rollercoaster have been well and truly shafted if this takeover occurs as suggested. To say we now have the benefit of certainty is frankly disgraceful. I hope you do manage to speak to a genuine investor who can speak for the majority of us. KOH post a while back is a good start.
Welcome back Fred - I sold half earlier this week but will stick with it and see it through with the remainder. Gutted that we may be frozen out and not be a part of this after 10 years investing with SXX that's the sad thing apart from the massive loss. Like you I so believed in this and will probably buy a chunk of AAL but it will never be the same. Irony is how much you could have made with AAL over the same time scale and that will not happen again. Good luck to all LTH I expect the 85000 have withered to a much smaller number now. You never know we may have a final twist yet.
The original admin did leave the group recently but others have taken over. There are 2127 members - I am in it and have been for a good few years. I’m also in Sirius Minerals. Not sure why you cannot find the first.
Sorcerer I have read back through your posts since it all changed in September. I don’t have the time/knowledge with regards to all the numbers to pretend to know what’s best or most likely for us going forward. I have kept the faith (I first invested in 2009) but your comments/thoughts certainly sound very reassuring and give me some peace of mind as we wait for news of what’s next. I have a large amount for me invested at around 15p so I’m hoping that what you suggest is somewhere near what transpires and we can look forward to a positive outcome for what is a potentially life changing project for many people - both investors and for those in the local area. I am aware of the risks but thank you for sharing your thoughts.