Member Info for Cherokee101

My entire conversation on SXX balance sheet has vanished.

Admin, please explain why you deleted them? Thanks.

Thanks for clarifying casa.

Out of curiosity, what lead you to sell?

If you think we will get a placing of between 15 and 25p... why not hedge your bets and buy in today at 20p?

Where has my question gone?

Again, why would the banks take 2 years to realise what a debt to net worth ratio is.......

Or are we all boycotting any response to SL.

My guess is on the world's biggest investment banks.

The industrial bank of China.

The Norweigan Sov fund owns a slug of every listed company in the World according to their website (something like 10k holdings).

So why SXX over another project?

My banker mate also said that a major positive is he believes the alternative proposal will have come after major Due Dil by the bank. He said the final sentence in the RNS notes the finalisation of said due diligence.

So we aren't back to square one and another 2 years... fingers crossed end of april.

My banker mate told me that Bloomberg is showing an increase in PIs through HL platform, but an overall reduction from funds. Could be short sellers closing their positions?

That's because the FCA are funded by the very banks they seek to regulate. And they know better than to bite the hand...

1. The Alternative Proposal contains an alternative senior debt structure to "completely replace that structure".

So, the "contains" word is not as important as completely replace. The latter negates the former.

2. They intend for the additional capital to be non senior debt.

Whilst that could still mean hybrids like converts, we should be happy about this news.

We also now have a firm working deadline. But God help us if we keep limping through it...I have always said, better to underpromise and over deliver... tell us October but deliver it in April...

Up and away.

Whilst I agree with LL, I dare say it is still insider trading. Those who sold, were selling on material non public information. That is a sackable, jailable offence.

I meant the worst case for the 9% drop.

The very worst case is abandon ship. Which means share price = 0p.

Jake,
One of our largest holders was selling last week, correct.

The problem the FCA has is that the onus is on them to prove insider trading. It is very difficult for them to put evidence together to show that Bob sold his shares because he found something out, or did he sell because he needed more cash.

It is harsh and often times pathetic, but that's the law.
Pretty much the only way to get done for insider trading is to write it in black and white, on a forum say...

Exactly Chilting.

If we got a proper response to the leak last time, and at least an acknowledgement of the BoD doing something about it... then we all wouldn't be on egg shells.

Anyway, logically, the worst case scenario is more dilution than we expected. Ah well.

On a long enough time frame you will make money on these shares. But you are talking at least 5 years from now to make serious money (£1+ a share).

I hope this isn't a leak, but it smells like last time. All the local pub folk jumping out.

Ah well, bottom drawer stuff.

The thing is, the price has already dropped from 35p to 19p on the fear of massive dilution.

So what's next? All dilution no debt?

Stupid share price at these levels. Nonsensical.

Jackid,

I don't think anyone doubts the mine will eventually get built. But two additional questions are exactly why the SP is where it is:
1. "When" will the mine be built?
2. How much dilution will shareholders suffer

Think about question one very carefully, as I am a believer of no smoke without fire and we will may have to stop the build, or slow it down massively.

Jonesrichard,

In theory, we will get something by quarter end, as thats the quarterly update period. But Fraser also said he looked forward to financial close later in the year. This is long haul stuff.

There is no way in hell that he would say he has enougj cash until Q2 unless it wasn't a real possibility that we are going to the wire.

My gut and the market tells me something doesn't smell right (my guess is the obvious additonal capital and ToP quality, as we have ticked pretty much all of the other major milestones).

Urm, in case you missed it, a massive institutional player dumped our shares recently.