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Seems Sirius PR and hype squad have been in full force this week. Long may it continue. SP will beat resistance and breakout in my opinion, FOMO will set in once the finance plan is revealed
Let’s not get ahead of ourselves. By end of October was the last statement. Plenty of time for other bits of news before then. All positive I hope
Sorry 10 million interest if only one quarterly interest payment is paid
How many metres a day do you think the sbr will take to pass aquifer to safe level. Let’s say 10 meters a day, 100 days sees us at 1 kilometre down, way below the aquifer. So let’s say 100 days, interest paid quarterly, 5 million would be paid in interest before a potential re-finance ? It’s all speculation until CF tells us what the plan is.
Just putting it out there that we may not see dilution, people were happy to lend to us, the only reason we stopped the old plan was because JPM didn’t allow us to hit a 15% interest rate to qualify for the RCF. But we can refinance to a lesser rate if we accept the higher rate for a smaller loan amount to de risk
Why wouldn’t they raise just 200million or less which would cover the shaft sink at 15-20% and once done and project massively derisked, then refinance at 8-12% plus extra money needed at the lower rate.
There will be someone out there who will gladly take a high yield for the risky work.
You de rampers are focussing only on dilution
That would be the ideal scenario. I’m not sure how it would change the financials or cash flow to develop the project using profits though
If anyone would share in here the article. It seems Chris is in with the times to get a bunch of new sign ups by releasing more than 2 articles a week ha
Maybe Chris Fraser is just trying to let naive first time investors know that not everything on these groups is true or for the benefit of the reader
Only a matter of days til this breaks the 4.4 level and we jump up. IMO
The times article is below
https://www.thetimes.co.uk/article/sirius-minerals-axes-300-to-keep-moors-mine-project-alive-p77lq0tn3
Thanks for posting this article link. What a great read for the morning.
Possible news of our new plan by the end of the month.
Exactly what everyone had been suggesting at a finance for the risky elements first and then the rest after we clear that milestone.
The mucking our conveyor to be used now to reduce costs which has been said it can transport up to £500 million worth of poly4 a year which will be enough to cover our torps for the first 3 years of production.
Hope we hear these plans are official soon, will put a lot of stressed LTHs at ease
How can this article be allowed. Writer basically tells people to sell. I would say that is giving out unqualified advice
Must be a lot of pressure on the treasury for our backing after their ridiculous previous decision
Has anyone checked their holdings as of late? I see they have slight ownership increases, therefore it seems they are lowering their averages
Malkis has been very good with the previous RNS calls, hope he’s right with his last prediction
So this week has been good even with radio silence from the hype squad.
Sp is up from 2.9 to 3.6.... I know we have a lot of upward movement to get back but the 25% gain probably has a lot to do with lowering of shorts and the movement of shares drone private to ii.
I think Sirius needs a powerful financial body like a bank like we had with JP Morgan or an institutional investor/strategic partner to give this the backing.
Pi investment would get us over this hump but we would need to revisit later on.
Serious backing now would take us further.
Yes I agree that a loan at a high rate would be hard as repayments would require cash and we were down to 180 million at last notice.
A bond now for the high risk would get us over the hump but still, the strategic investor is probably the best course of action right now
How much do we need for the shaft sink and risky element. Say 300-400 million? I am sure we will be able to borrow that at a very high rate, up to 20% via bond or infrastructure loan, then once completed and risk is reduced we can restructure the loan/refinance at a lower rate, similar to all other business or property building loans.
People are over thinking this and we are still massively oversold
Is this your own website/blog? Lacks anything new, just keeps repeating other reporters
If anyone has a link for the one show or the bbc report on iplayer I would be grateful. Also times I need to skip to. Thanks in advance