Member Info for chilting

Kraken
That would mean that we could expect a hook up by around the 2nd August - but we would probably still have the three week outage to come unless the some of work was done during the breakdown.

In the absence of any positive news I guess we now have to consider that maybe the three week maintenance break is now in progress.

The last hook up concluded on the 7th July so the three week period could end as early as the 28th July - that would mean that the next hook up could be around the 9th August.

To clear up one point HK is off to Captain - they also use Scapa Flo - so the Alfa Alandia will be for their hook up.

No sign yet of HK or any other shuttle tanker making a move towards Kraken but we do have the tanker ALFA ALANDIA due at Scapa Flo on Friday.

This is very unexpected - the STS at Sullom Voe isn't for Kraken - the shuttle tanker Petroatlantic is due at Sullom Voe for a STS on Sunday.

This is actually very good news for Enquest - they have attracted BP to use their STS facility at Sullom Voe - this is the first time under Enquest's ownership that another oil company has used the facility.

Petroatlantic only services BP's Foinhaven field, west of Shetland.

I expect these shorts who are simply manipulating the SP - main culprit is LMR - are just playing the worry game with investors and pushing out the traders while they feel its safe on a run up to the bonds announcement.

So hopefully we can expect them to cash out quite soon - they are playing a dangerous game because if they get their timing wrong they could have to cash out on the spike - but maybe they will just pick up the leaks.

Yes, all that is very logical Cherokee but Liberium must base their bullish predictions on something - maybe its just sentiment.

The credit worthiness of the lender would also play a big part in reducing risk for the project - JPM have a very stable long-term issuer rating of Aa2 with Moody's. Rather like the Government guarantee that failed to appear in time.

Myo
With the bond issue maybe they will get one anyway.

But it will reflect on SM's credit rating and as that rises so will the attraction to institutions of investment in SM's equity.

I had always assumed that the institutions would wait until first production before they invested heavily here but maybe we can expect then to start investing here big time after the funding release.

This could account for house broker Liberum's very bullish 40p price target.

So can we assume then that when the funding from JPM is released by the successful sale of the bonds that the credit rating of the bonds will rise?

If this is the case it may encourage more institutional investors to purchase SM shares in the equity market?

Squif
The tanker for the STS is due at Sullom Voe on Thursday evening so the hook up can be expected around the same time - that is a delay of just a week.

Also the STS tanker has a larger capacity than usual and the shuttle tanker is likely to be the large Heather Knutsen - so we may have a 600k load heading for Europe or India.

Itsaponzi and beerbull
Robert Mercer

https://www.cbc.ca/news2/interactives/sh/wex94ODaUs/trump-robert-mercer-billionaire/

No change this morning - the STS vessel Sapphira is still due to dock at Sullom Voe on Thursday evening.

I guess that means we wont see a hook up until Thursday at the earliest.

It seems that we still have to wait - the STS vessel Sapphira isn't now due to dock at Sullom Voe until Thursday evening.

I guess that means we wont see a hook up until Thursday at the earliest.

"If the sales are going well,then the share price should react well before any any announcement......and if it's not going well....then....."

Some caution may be required if shorting activity begins again - their aim would be to give investors the impression that things are not going well and panicking us into selling.

Opens back over $63 - up over a dollar - back to Fridays mornings high.

Just waiting for HK now - no confirmation as yet.

This is a very interested report formulated to help influence future Government policy.
It is easy to read in how Poly4 could make a contribution to achieving some of the proposed goals.

https://www.thersa.org/globalassets/projects/psc/ffcc/reports-2/1.-our-future-in-the-land_executive-summary_july19.pdf

The interesting thing from the bond holders point of view is that they are buying into B rated bonds - that is their gamble - but when the bond issue is successful and the JPM cash is released the bonds suddenly become a lot less risky.

Just how optimistic can we be for the SP after a sucessfull bond issue - it seems the experts are maybe even more bullish than most of us posting here - this is from the latest Proactive Investors article -

" Earlier this month, Liberum number cruncher Richard Franks said: “Completion of the US$500mln bond would unlock the US$2.5bn revolver from JPM and largely eliminate financing risk, a significant component of its 78% discount to net present value (68p).” "
" Shore Capital agreed, saying in a note to clients: “We expect the coming Senior Debt Event to catalyse a major re-rating of the shares, as it is in our view effectively the key to unlocking Sirius’s vast value potential.” "

https://www.proactiveinvestors.co.uk/companies/news/224219/sirius-minerals-launches-us500mln-bond-to-fund-development-of-huge-fertiliser-mine-224219.html