Member Info for chilting

No ETA yet but Amunsden Spirit will be on her way to Kraken in the next few days after she unloads her current cargo at Wilhelmshaven - she is currently just entering the port.

She is expected at Scapa Flo for a STS with the tanker Drepanos - no ETA yet for AS yet but Drepanos is expected at Scapa Flo on the 22nd September.

Apologies in advance - I know this won't be popular - but there is a very compelling case for a partnership with ICL for the development of the mine that would be to the mutual benefit of both companies.

1. ICL have developed and successfully marketed polyhalite - they have an established market.
2. Polyhalite is already being produced at Boulby but the mine is coming to the end of its productive life.
3. ICL need a long tern phosphate replacement for their Dead Sea reserves.
4. Work could be slowed down on the mine project and money saved as a result - this could be tied in with the rundown at Boulby.
5. The skilled workforce at Boulby could transfer to Woodsmith.
6. Cash flow would be available from day one.
7. No competition for polyhalite and SM could continue to produce and market Poly4 to customers like ADM as a seperate product to polysulphate.

Thank you Myo - it would seem to me that maybe making use of just two TBM may be a prudent option - even if it does slow the overall speed of the project down.
In this six month review period it would seem that further cuts in the overall project cost may ultimately be the best way to secure funding.

One question - do we know if the TBM will continue its work through the six month slow down period?
Presumably if it does SM can just use the two TBM's???

In these sorts of situations its all about timing your averaging down - the main thing to remember is that you have much more time to consider your decision than you think.

The last time in happened to me I was 92% down - this was 18 months ago - I averaged down far to soon - although the SP recovered I am still about 30% down - if I had got the timing right I would have been in profit by now - patience is the key - its all a slow motion grind.

Its certainly worth holding - we could even be the subject of a takeover battle with several companies after the mine.

As for averaging down - certainly not yet until there is clarity - we could unfortunately take more steps down over the coming months - technically the SP has to rise to around 7p for the SP to be "safe" from further falls.

Best case scenario we find a strategic partner with the funding - we get more dilution - but the mine gets built.

No way will I sell now but I will wait for the best time to average down - now certainly isn't .

Its as though the establishment that we have known all our lives has been shattered - at one time we could rely on world leaders to bring stability and order to public affairs - not be the one's who destroy that stability.

Take a look at these latest comments from Trump - be reminded that he is talking about matters that have a great impact on the world economy - if he gets it wrong we could all suffer a recession.

Reuters-
Speaking to reporters aboard Air Force One as he travelled from New Mexico to California, Trump claimed that Beijing thinks he is going to win re-election, but that Chinese officials would prefer to deal with someone else.
He said he had told China that if the deal comes after the Nov. 3, 2020 election, it would be on terms “far worse” for Beijing than it could achieve right now.
“I think there’ll be a deal maybe soon, maybe before the election, or one day after the election. And if it’s after the election, it’ll be a deal like you’ve never seen, it’ll be the greatest deal ever and China knows that,” Trump said.
“They think I’m going to win. China thinks I’m going to win so easily and they’re concerned because I told them: ‘If it’s after the election, it’s going to be far worse than what it is right now.’ I told them that. Would they like to see somebody else win? Absolutely,” Trump added.

This BBC news story gives readers the right to comment at the end of the piece - a good opportunity to give our point of view.

https://www.bbc.co.uk/news/business-49725711#comment_136328080

Agree Gina is the best option for SM but not for the shareholders because of the dilution.

Also we could see ICL making an offer - they badly need the polyhalite, especially as their Dead Sea phosphate operation could be stopped in the long term - excellent fit for them but very bad news for shareholders.

…..all the stressful days will be forgotten.

Lets hope - today however is not a good example of a stress free day!

The main thing when averaging down is that you have to know what direction the company is heading - there is no point averaging down at the moment because we simply don't know that - don't rush in - time is not a factor here.

If you average down without that clarity you could easily find that you need to average down again when things start to resolve themselves - for example if a strategic partner took a big stake in the company.

Another update first - Gijon Knutson has just left Alma with a load - it looks like she is Rotterdam bound.

Ridgebury Pride took both loads 44 and 45 - she is also currently heading for Rotterdam - there is a possibility that these loads were larger or smaller than normal - Ridgebury has a draught of 18.2m.

spindok
Yep, sitting on a 75% loss at the moment - can only hold and hope - maybe with pressure HMG will back the bonds - a drone directed at Eton Mess might be more appropriate..
All good here though at the moment though.

I guess they sold a whole lot more yesterday John - the RNS was for a reduction last Friday - maybe they triggered yesterdays fall.

We can only watch developments today - certainly don't sell after news like this - certainly don't buy, there will be plenty of time to average down over a long extended period - just be patient and hold.

CashFerret
With all the price movement it is impossible to say if they were buys or sells and we don't know when the transaction went through - transactions listed after close can be from earlier in the day - my guess is that it was one of the big players selling such as Capital and maybe the trigger for the fall yesterday and yes a leak.

I guess these were delayed sells from earlier in the day

More dilution yes but this certainly isn't the end of the road by any means - as with most growth companies you hold and hope - rewards come for those with the most patience.

Pressure needed on HMG I think.

I think we can be pretty sure that todays events were not orchestrated by anyone otherwise the SP would have gone much lower. In the past I have seen scams where the SP has dropped over 30% in similar circumstances.

https://www.businessinsider.com/paysafe-shares-collapse-december-12-short-seller-report-2016-12?r=US&IR=T

Shorts will probably hold the SP down to their advantage and with any luck will use the opportunity to cash out.

But drama is over - just rumour without substance and LSE did a very good job cleaning up the board.