Member Info for avocet123

Do we think sxx wasn't willing to pay the rate because it was high, or do we think that despite the high rate there wasn't enough takers?

That bit of info would have been nice on the rns.

Sxx/jpm need to sell the bonds early September. There is no need or scope for a plan b.

I also don't think it is a good idea to give the FT even more fodder so that they can put out another article about the poor sxx shareholders who were dumb enough to invest in sxx when the writing of doom was apparently on the wall.

I would suggest we remember that the bond was pulled due to unfortunate market conditions. Which they were. I accept that they won't necessary improve by September. Therein lies the risk with this share now, and it only takes to tweet to send us over the cliff.
But if the yields improve we are back in business!!

There are in my opinion, absolutely no other ways of funding the project with us still being shareholders.

Would never work. Because each of those 85000 investors would think, why should I risk 5k, if the other 84999 investors are doing it. That's your dilemma right there. It would only work if all of the 85000 investors would somehow be forced to buy the 5k bonds. There is a psychological experiment that explains the dilemma, just can't remember what it was called.

They can always slow down the build. Also a big vote of confidence fo me is that the sbr still got delivered to site. The site belongs to the developer, which is sxx. If sxx went into admin, it would mean the sbr would get caught up in the liquidation procedure. I doubt the supplier would be willing to take that risk if they thought that would be a possibility. Then again, you wonder why the shareholders are not party to any such arrangements. Have suppliers and contractors been told that they will be paid, no matter who owns the project?

You are right dick. We might be worrying over nothing. It's just the media, screws with your mind.

I dont mind a bit of volatility, as long as we PIs dont lose the mine. If we dont lose the mine, all of us might eventually see our investment back. It could take years, or decades. But lose the mine, gina gets it or a another gets it, and we lose it all. I would rather we had 25 billion shares in issue. That would still give us a fighting chance over time.

I have also decided that I will from now on stick to well diversified funds and etf's. They do best in my portfolio. I am rubbish at stickpicking and this latest palaver proofs the point. Big time.

Boris is the man who is destroying the country, but with any luck he will be mad enough to provide support to sirius. It would be a great pr exercise.

I guess another share raise to get the 500m through dilution would take us to around 17b share depending on the discount. This would not unlock the rfc, but it would buy us more time. And to be honest, 17b shares would still mean that all of us would still get out money back, at some point....

I say, if it goes to hell, and we, the pi's own it, we should get first dips at burning it all to the ground. A great big bonfire.

Tcheung, you are new, first post. I already know what you are. You are the next deramper. F off.

JR, I think the bonds will go this time around. I have to, because I have a lot riding in this. I would be absolutely ok with losing it all, but I dont want to.
But I think if the bonds dont go, your assumption that 5p will be worst case, is in my opinion extremely optimistic. My prediction if they dont go next time - anywhere between 0 and 2 p. Dont kid yourself. No bonds and sxx will be dead in the water in its current form. IMO

The pound will only keep falling as we approach the brexit train wreck. So that can't be a good reason to pull it.

I don't think he does. He has only ever posted on sxx. So I guess he lost a packet in here, and given up investing for good.

Yes cf also has a lot riding in this. Millions and millions of shares. I doubt he would have assisted in decimating 40% of his wealth in 2 days if he could have helped it.

I don't think the bod risked dropping the sp by 40% because they thought 13.5% was too much though. Just my opinion.

I assume people have also noticed a significant reduction is shorts today? I make it roughly 1% down. Guess they wouldn't do that if the felt save in the knowledge that this is going to zero.

Casual, I have been pondering the same. But how close was it. Was he able to sell 80% of the bonds, only half, or nil? Did he not want to pay 13.5%? Could he have sold all at 15%? A lot of questions. No answers.

Tinhatnail, if the bonds don't go in September, the sp will fall so low that dilution won't even remotely be an option. Sxx would be able to raise about 5 quid by issuing a gazillion shares.
Its not an option.