Member Info for chilting

This is just the sort of attention we need right now - with a reversal of the decision on Government Guarantees SM could be back in business with a bond issue.

With a General Election looming the timing could be just right - even the Tory's will understand that.

Thank you MO and E121 - all good now!!!

Problem solved - Teekay have done a switch - Navion Oceania is Kraken bound - ETA 9am BST on Sunday morning.

AS currently has her destination set as Rotterdam - will keep checking.

Orkney Harbour Board still have her listed for a STS at Scapa Flo.

Therapist
More like -
https://www.youtube.com/watch?v=gphMgG3v3Y8

I think that there is still a good chance of getting the Government Guarantee for a bond issue - especially if pressure is kept on the Government to provide one.

With such a guarantee SM could quickly issue bonds and get construction moving at full pace again before returning to secure long term funding.

Brent does seem to be holding onto its risk premium of around $4-$5 so far and tensions in the Gulf would seem to indicate that this might continue.

Amundsen Spirit is due to leave Wilhelmshaven, bound for Kraken, at around midday today.

Another view - this time from Investors Chronicle - published today -

IC View
"According to trading website ADVFN, Sirius is one of the five most tracked stocks among UK private investors, the others being Lloyds Banking Group (LLOY), Barclays (BARC), IQE (IQE) and UK Oil & Gas (UKOG). All have something in common: home-grown investments trading at or around multi-year lows, and far below their supposedly world-class promise. The unravelling of Sirius' financing plans will therefore come as a bitter blow to the thousands of small shareholders who bought into the vision of a major UK industrial project. Those still invested must now sorely conclude that prospects are bleak. The remaining cash reserves amount to a pittance in the scale of a multi-billion dollar resources project, and we wonder why a white knight would have waited for so long to signal their interest, if indeed this is even a viable solution for project financing. One must surely ask what new avenues a strategic review hopes to open up, now that so many have already closed. Sell at 4.3p.

Last IC View: Sell, 11p, 6 Aug 2019"

Richard Griffiths is a long standing investor here - he has been very gradually reducing his holding over the last 18months or so - he sold some more yesterday.

https://www.sharesmagazine.co.uk/news/market/6595464/Holdings-in-Company

Donotpanic is an experienced trader - at the moment this is a traders share - his experience is invaluable - but you can take it or leave it.

One important point is that if the Government did reverse their decision and give Government Guarantees that would enable SM to quickly launch a bond issue and the funds raised would enable SM to restart construction at full pace while further funding was sought.

donotpanic
To be fair and balanced - the SP actually NEEDS to recover to at least 7p - the falling average - or it is at risk of further steep falls.

The bottom line is that we have much more time to make a decision than is immediately obvious - there is no need to sell directly and take a big loss.

That applies to all growth shares giloglo but you have to find the bottom of the dip - in this case that is far from clear - at least at the moment - so we are simply at the hold phase.

My nerves will be much more settled when it goes above 7p - the falling average.

As for further dilution - that was written into the SP long ago.

We don't have to rush into a decision on this occasion - there is still money left in the bank - my decision to hold and wait for developments stands.

This is a very good and interesting overview from Shares magazine including their view of what we should do now.
They recommended SM as a buy back in August - now they have SM as a sell. Personally I an holding.

https://www.sharesmagazine.co.uk/article/sirius-minerals-shareholders-need-to-make-a-big-decision

Ye of little faith - it is here - sorry forgot the link

https://www.orkneyharbours.com/port-authority/info/shipping