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Disgraceful by the government not to act as guarantor on this project.
It is not a pie in the sky punt. It's a proven resource, TORP galore and growing global demand.
It doesn't cost them a penny and will create significant wealth for the UK.
But the buffoon, Mogg and Boris and Gove are too busy picking a silly fight with the EU and backstops and other such rubbish.
I'm considerably down on most of my shares so I'll hold and see what happens. Little point in selling.
Not much else to say other than that.
All cards have been played - no more torps, no for ST2 news, no catalysts until the mine is actually in production
I'm well down on this investment and have no choice but to tuck it away and come back in 5 years.
Any 1 pound party oft mentioned here by some is a long long way away as are potential dividends.
The finance has been sourced but the terms and it's negotiating have been costly to the share.
If this is what they opted for then god knows how bad the terms were for the initial abandoned ST2 financing.
Hard to see the share doing anything but hanging around 15 - 20p for the forseeable future and that is assuming the build progresses without any major hiccups which with the risks involved you have to think that it won't all be plain sailing.
month chart, cup formed and handle on the way. We'll see this trace up to production
Excellent news on it's own - up to 2.5mtpa + additonal volume.
Just as importantly, as good as saying ST2 is a done deal.
It is unclear as to what their interest is but anyone buying buying a chunk of shares with ST2 imminent is significant and a very strong positive indicator.
If you are negotiating with numerous lenders and then decide to halt that and go elsewhere at the 11th hour then in terms of who will finance the deal they are jumping ship - at least from one ship into another. Huge uncertainty now.
Short term it adds to it! If the new player pulls out those existing offers mightn't be too happy with Sirius looking elsewhere and tell it to bugger off if it has to come crawling back. Amd then what?
Woah.,..huge risk jumping ship at this stage...if it comes off though.....
So limbo today until RNS tomorrow....
Down nearly 11% with ST2 news imminent. Clearly a leak as previously has happened. More worringly it is clearly not good news.
I think the Connemara name is now associated with a dwindling share price and failure to successfully develop any of the projects. The new name is nothing more than an attempt to distance themselves and attract some new blood.
I used to own these, got out before I lost too much thankfully, it would be more in their line
to do more drilling and the selling of some prospects and not farting around with name changes.
Confu(fused) - You're thinking of Shergar.
What changed? from stage 2 to be being a shoe in we are 4/5 months down the line and nothing but woolly
references are forthcoming. The company needs a lot of money and the markets and shareholders are none the wiser as to when, if and how it will be delivered.
Ffs....
Absolutely Mr Jones, the Sp is deservedly tanking today. A very underwhelming RNS.
Until Stage 2 is sorted and satisfactorily so there will be no positive SP response.
The references to financing the next stage are wilfully unclear and non-commital because I suspect they
are a fair way away from finalising. I do hope to be wrong.
I know Roulette but reading sxx4 msg below "then $1bn from the likes of RBS, then $1bn from the govt"
There is no 1B from the gov't. It's something I've read a few times on here.
Folks, people seem to think the Gov't is giving a billion quid to the project. They're not.
They will guarantee the repayment of a 1 billion loan should Sirius default on those payments.
That is all. They do not hand over cash. It's a guarantee scheme. Not a lending scheme.
https://www.gov.uk/guidance/uk-guarantees-scheme
Not saying a lot we don't know bar the structure of stage 2. Until that is confirmed and there will be nothing to really shift the SP one way or the other. With cash to get the project through to end of Q2, they best get a move otherwise people will get twitchy.