Member Info for chilting

AIS has let us down this morning but it seems clear that NO - showing west of Kraken and moving in at over 11 knots - is the tanker showing on the satellite close in to AK - the satellite recording was an hour ago - around 06.30.

We may not quite have a hook up yet but 8am - in the absence of any other info looks about right.

Not only can the problems that Steve Davies and Woodford have had be directly linked to Brexit and the failure by the Government to deal with the issue but they also reflect on how poor we are at developing new businesses in the UK and properly funding these businesses when they are at the growth stage.

Somehow the onus is always on risk rather than reward.

Not just SM Worzel - he put is faith in a whole raft of UK growth investments as per the funds name - unfortunately due to the bloody inept incompetence of our Government to deal with the Brexit issue they all turned to cr*p - including Sirius - we would never had been in this mess if it hadn't been for clowns like Cameron, May, Johnson and Corbin.

I just had another read through - unfortunately it looks like Steve Davies is to be replaced - he has long been a champion of SM.

"With regard to the future of your company, our current investment adviser, Steve Davies, will remain in place until such time as alternative portfolio management arrangements have been agreed by the board. The board is working to identify the best outcome for our shareholders and will communicate with shareholders as soon as a decision has been made.
Tom H Bartlam
Chairman
4 October 2019"

Jupiter UK Growth Investment Trust plc have just published their year end results for the year to 30th June 2019.

They mention the problems at Sirius but their is nothing new - Jupiter held 5.4% of their fund in Sirius at 30th June 2019.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/JUKG/14255272.html

Just 26 nautical miles away now and heading directly for a hook up today from the south west - fingers crossed.

Bjorn
Yes, I get what you are saying but SM have lost control of the situation now - the money is running out - they have to take what they can get - it will be outsiders who make the decisions now.

We just have to hope.

On a more positive note what we need is for Jim Ratcliffe to come along and bale out SM - he would probably only leave us with about 20% of the company but all the funding woes would be solved.

ffcmember
I think it will be a case of taking what we can get - SM will only have any say if there is more than one equity partner in the frame.

Bottom line is - if there is only one party interested - will they negotiate with SM or wait for the administrator.

We just have to hope.

Navion Oceania is now just 46 nautical miles from Kraken - ETA is now 14.00 hours - 2 hours earlier than yesterday - so we may get a hook up this afternoon?

The weather is set fine until Monday night.

The STS in Scapa Flo is confirmed - probably with SHANGHAI DAWN - tanker size indicates a standard load to the US.

Mr.dt
Pushing forward is the only option - if its crash and burn so be it - but you have to speculate to accumulate.

As shareholders we may fall by the wayside or loose out big time but I have no doubt this mine will get built.

“Sirius shouldn't have been and should never be working on the presumption that they will get funding and that all will be ok, “

What a ridiculous statement - it defies the laws of capitalism - the guy is clearly a socialist.

Trump is to busy feuding with the democrats to notice the oil price rising but I guess his blood pressure is likely to go higher than the oil price - with any luck he will drop down dead - am I allowed to say that?

This one on Trump made me laugh!

https://abcnews.go.com/Politics/trump-asked-shooting-migrants-crossing-border-legs/story?id=66003927

Its important to respond on a day to day basis when commenting on this board so yes today we did have a strong finish - especially when you look at the rest of the market.

Its going to rain DurbanDan - shame that!

The most interesting and significant thing about trading at the moment in the reduction in the volume - this tells us - at least for the moment - that most of the shorts are leaving us alone.

Today - 25,044,604

Oct 2, 2019 - 47,971,448

Oct 1, 2019 - 95,650,445

Sep 30, 2019 - 218,480,511

It seems to me that we are approaching a point where the Government backing will be helping to find a new equity partner - probably from overseas.

The way that the market is tanking at the moment probably completely rules out a bond issue.

If this is the case the resulting dilution will be extremely unpalatable but at least we will be left with something.

Brent just dived but is coming back a bit now - all macro.

Enquest has been surprisingly resilient- hopefully can hold 18p.

Its all reminiscent of what happened last autumn - very concerning!

Navion Oceania is slowly making her way towards Kraken - currently west of Orkney - ETA is still around 4pm tomorrow - so we are probably looking at a hook up on Saturday.

Saturday would be 11 days since load 46 departed.

The weather is set fine until later on Monday.

Todays market fall is looking very uncomfortable - especially when looking back at what happened exactly this time last year.