Member Info for chilting

Rubbish it all you like but I certainly agree with jonesrichard - this is very positive.

One thing - at least today's news should be a red flag for the shorts - hopefully they will exit - making it less likely that the SP will take another step down - we may even see a gentle rise in the SP during October.

https://www.proactiveinvestors.co.uk/companies/news/904243/sirius-minerals-aims-to-finish-strategic-review-by-end-of-october-904243.html

This is the best news we have had for a long time - it seems CF has a plan and the end of October isn't long to wait - much better than we could have hoped for.

The tunnel isn't optional - planning only allows for limited road movements in the early stage of production - as production increases movement by road becomes impracticable anyway and would compromise the whole project.

So in effect the project would be broken down into components with fund raising for each -
1 Tunnel from Wilton - as its already underway.
2 Shafts
3 Tunnel from Mine
4 Handling facility.
5 Everything else.

I see that there is a Government owned Bank called British Business Bank - they are Government owned but independent of the Government. It was set up in 2014 to promote enterprise by lending to small and medium sized businesses.

So at least the Government is doing something to promote growth, but it does seem rather strange that they are not doing the same thing to help fund larger projects.

There seems to be this rather pathetic political bias that for Government to lend to business is a socialist principal and that it is far to risky anyway. I am quite sure that this is just a UK thing because other Governments around the world fall over backwards to help business offering cash incentives for businesses to locate and capital for new projects.

For our Government the fear of failure seems to override all other factors - it has also permeated this board with so many comments that I have seen being negative to any form of Government help.

We have to as nation speculate to accumulate!!!!

https://www.british-business-bank.co.uk/finance-hub/

Thank you MO - so that was around 26 hours - she has a very good load - showing a draught of 13.7 metres.

Hello Brad
Its all the work of Armando Iannucci - his comments on the current government are interesting -

https://news.sky.com/story/armando-iannucci-weve-got-anarchists-at-the-head-of-government-11825791

25 hours and counting - no weather problems today.

xxdodgerxx
What nasty things to say about our wonderful politicians and the civil servants who work tirelessly behind the scenes to formulate Government policy to the high standards that we all demand - shame on you.

https://www.youtube.com/watch?v=xUky4_A7Zw4&list=RD0jzqK9ooEFc&index=6

I stand corrected.

KOH
In these situations the CEO can only concentrate on one thing - saving the company - the SP and the shareholders are well down his list of priorities - as for a negotiating position - that went when the bond sale failed - he has to take what is given and what he can get by dogged determination.

Yes, just Berenberg but they are hopefully impartial so I think we can rely on their opinion from a brokers point of view but like most brokers they are very cautious by nature.

The latest AIS confirms hook up - so we are 10 hours and counting.

The weather is set fine for the hook up period but stormy on Monday night.

Well the analysts are talking about a 25% chance of SM getting the funding but CF is very tenacious - we can rely on him doing everything possible - so I reckon its 50:50

The trolls have made it very clear what they think - bless them - but what does everyone else think?

Am I being to gloomy?

Yes Fred - deals behind closed doors and all that - all perfectly legal but as usual we loose out.

Its quite often the case that when a company has an equity restructuring the institutions, other large shareholders and the board of directors get the opportunity to average down to protect their holding - this also has an effect of making the dilution worst for ordinary shareholders but it may help if the only other alternative is administration - simply because they will be pushing for a deal.

If we are left with just 10-25% of the company I think that that will be positive in the circumstances providing we are content with a very long term investment.

Personally I have sold 50% of my holding and put it into another growth company with the potential to regain my losses in the medium to long term.

Bryn
We have to face the reality of the situation and this happens time and again - when a company runs out of cash it looses any influence it has when it comes to doing an new equity deal - this isn't like dilution for a rights issue - maybe I am too optimistic with even 20%. Don't forget that the other option for the company offering the equity is to wait to deal with the administrator.

What we need is more than one party offering equity then maybe we would get a better deal.

The other optio

OR
Don't forget though that as soon as an investor came into the frame that the SP would recover a bit and pull the MC up so I think that we should at least keep 20% of the company but as you say 45% is very optimistic.