Member Info for Aubery

HTFC home win

*13mtpa...

Food for thought Appy
We know the bonds would have gone (at 15%?) PLUS warrants (dilution) but knowing this unlocked £2.5B and the ramp up to 13mtpa in short time.
Any funding now doesn’t have £2.5B behind it and the programme to 23mtpa is delayed.
I think..,,

Appy
How and when do you pay the 20%?

Apologies OR
Rights issue.
All the best and GL

OR
My concern regards a RI and fundraise is poor sentiment and PI fatigue.

Gadbury
I don’t doubt that there may be less important elements of the ‘review’ that may get concluded at the end of 6 months.
It may well progress and evolve depending on outcomes
BUT with cash running dry and the lights (literally and metaphorically) going out in 6 months without funding, the fundamentals were always going to get concluded in weeks.
Or do you think a thorough root and branch review was going to be undertaken?

Fred
It was never a ‘6 month review’ .Our cash runs out in 6 months. CF would have had a good idea on the call the direction of travel. Come end of Oct we will know. Expect this board to get interesting as we close in on month end with the longs v shorts.... unfortunately little space for the moderates....

Also noticed Allen& Overy (our solicitors) advised on the legals of the 2015 FMG bonds worth $2.3B
Small world.....

Yes Dinger.... all owned by JPM

Dinger
The investor section of the Sirius website states they are.
JPMorgan Cazenove
Who are wholly owned by JPM

Chain
The more I research the more it becomes clear there are only a few banks that advise and finance funding in the mining arena. I’d be surprised if we have fallen out with JPM. It wouldn’t be surprising that if they weren’t in our corner then there would be a good chance of them being in the corner of whom ever we would be negotiating with, a strategic partner, merger, takeover.... etc
Therefore given the journey we’ve been on it would probably be prudent to stick with them

JP Morgan were financial advisors and corporate brokers to Billiton for the BHP and Billiton tie up resulting in a £20B company.

JP Morgan are still registered as broker to Sirius.

Dogstar
It’s not funded because of shaft construction risk. Did you not hear the call......

Ffc
This is a BB
Of course no one gives a *
Stop shouting and get over yourself
Always the filter.

JR
You are amazing
You think it’s the trolls that have driven the price down.....

Ffc
You are a sad individual who should be ashamed of yourself. if you actually look forward to JR constantly posting about how he has invested everything he has for the PAST 6 years and is actually planning more.
He needs a critical friend!!!!
And not folk egging him on like you.
Irresponsible.

Ffc
Many things there.
Regards your assertion that I’m a ‘plant’. Please do explain, myself and the rest of the board are all ears. What is your theory?
Regards JR. Anyone repeatedly ramping needs calling...... #echochamber.

True PAAA
And this is of course hypothetical. But it would be years and years until the government got its cash back.
When the film is made we may learn what actually occurred regarding the IPA.
But it looks to me that CF was overly ambitious with his funding and programme ( maybe he had to be...) . But it looks as though we should have spent every dime we raised on sinking that shaft and not spent it on less risky items that could come later. Hindsight...
But WTFDIK.

Woolv.
So let me get this right
Government bailout Sirius and shoulder risk, things go wobbly, government forks out £1B as guarantor.... funders get their 15% coupon, SH benefit from an improved SP and future divis.... tax payer £1B worse off.
Winners... bankers and SH’s....totally unscathed and in the money....