Member Info for Chrisatbirdies

Rob99. To what type of grass are you refering

I suppose I should be super anxious considering I am all in here and have been for over two years .but I made my decision and tomorrow I will have an idea how good that was.i know I'm not alone and there are quite a few of us. .maybe if it's not good news we could have a drown your sorrows party.

If it was going to be late I'm sure we would have had a update,with the words stage 2 ongoing

Good luck to you as well fred.there seem to be so many scenarios and possibilities discussed.those who are experienced in investment seem convinced of dilution.others like myself think nahhhh. C.f knows that a lot of the locals are invested and he will pull out a deal that is good for them and the rest of us. It will be fantastic to have the finance sorted and our focus on the shaft and tunnel progress and read predictions of dividends dates and amounts.

Hi JimboD. That in itself covers their backs and leaves the shareholders without more dilution.still at 20p it would take around 1.5 billion shares to raise £300,000 for the extra funding.that would take us to 7billion shares (ish). I don't think that would be a disaster.and at 50% of the company value reflected in the s.p could leave us around 30p s.p minimum. All my working out may be miles off, but as I said earlier I am trying to learn .

Hi gk. What does that actually mean that j.p.m. will issue Sirius bonds. Is that yet more dilution in the offering ie convertible bonds.and even more shorting. Hope you don't mind answering I'm still trying to educate myself around this process

I'm almost x3. Where did all that time go. SeriousEd All we can offer is an opinion and as mr math said lots could alter the direction of the s.p. As for now it looks to be heading I the right direction with quality people at the helm

AlanG. Welcome back Alan. The posters you refer too are just wind up merchants and immature ones at that. Plenty of posters ignore them,I would too if I was you.they will be gone soon enough anyway

I expect a few shorts will buy back in,but I've learnt not to expect too much from the s.p. so open 21.3 close 22.4

What exactly did Thatcher do

Breaking into this industry with a new product would be almost Impossible without strong partnerships.especially with the likes of icl sticking the knife in and whoever is paying for some of the more damaging assessments of Sirius.thats why I'm convinced the board will be announcing a partnership with a. d.m. which has already manifested in the wilmar torp.only 4 working days to find out.

Bicko. We are waiting for a lot of news.it could come anytime

Hi Appychap. The market is convinced their will be heavy dilution with stage two and as far as I can see so are the majority of the more experienced l.t.holders on this message board. I accept there could be some but I personally think the deal will be a good one for the long term investors.plus the possibility of early construction will bring massive savings and that barely seems to have registered.will will know in the next four working days

from a 'major global financial institution' is one where there has been considerable involvement with raising funds and has a long standing history with the Company. This institution will know the Company inside out and have a full understanding and appraisal of the project and will have taken into consideration the additional costs incurred to date. From the above communications it is the conversations relating to the original debt that had paused which, to me, indicates the named MLA’s could still be or are more likely to be involved in the Alternative Financing Proposal, and hence why the Company indicated an end of April 2019 target in obtaining the necessary firm commitments as they are extremely confident of reaching that objective. At this stage there is a considerable shorting of the Company which, as well as the LTH’s, will be considering the situation very carefully over the coming days and as we head to that end of April target.  Based on the above communications and the views of certain analysts, I am in agreement with the account in the FT and that JP Morgan is the ‘major global financial institution’. The JP Morgan High Yield Conference (Feb 2019) presented the Company to the global financial market and with that the possibility of adding to the list of existing financial backers for the Project. 2. Hancock Equity Component Q2. In light of this Alternative Financing Proposal, where does this leave Hancock and the US$50 million equity component of the Minerals Royalty Deal (MRD), i.e. will this still be provided once Stage II financing commitments are obtained to fully fund the initial 10 Mtpa development (through the Alternative Financing Proposal)? IR Response:  Yes, the Hancock equity component is still expected to be provided when we are fully funded 10mtpa. 3. HMG Funding and IPA guaranteed bonds Q3. Does the Alternative Financing Proposal involve the requirement of HMG Funding and IPA guaranteed bonds? IR Response:  The Alternative Proposal does not include any IPA tranche. Summary: We will know soon enough who the ‘major global financial institution’ is and the format of the Alternative Financing. From the progress of the project and certainly the job creation this does suggest that the funding has been secured. There are some concerns but these should be buried once the funding has been finalised. There is likely to be elements of the funding that will be negative to the small investor which will be offset, to some extent, by the fact the funding has been completed (or the apparent relief of that), LTH’s have accepted that. The thinking should be what will the share price be in two years and not two weeks? Those financial institutions that are investing significant funds should expect to get rewarded for doing so but equally they are wholly supportive of the Company, (Hancock agreed to an early draw

Alternative Financing Proposal After further communications with IR with respect to certain financial arrangements that were presented as part of the Stage II Finance, and a continuation of discussions relating to the Alternative Financing Proposal, the following is an outline of those communications: RNS - 12 March 2019 - Alternative financing proposal  …and therefore it is pausing discussions with its existing prospective lenders to pursue the Alternative Proposal. FT - MARCH 12, 2019 - Sirius Minerals finds new backer for $3bn potash mine Analysts said JP Morgan, the company’s broker, was a potential backer of Woodsmith, given its knowledge of the project. 1. Mandated Lead Arrangers [MLA’s] Q1. Has the Company paused discussions with ALL its prospective lenders including each member of the Mandated Bank Group (J.P. Morgan, EDC...etc.)? IR 1ST Response:  We have paused all discussions with all prospective lenders in relation to the three tranche Senior Debt package that was most recently referenced in our 22 January 2019 announcement. We have not, for commercial reasons, indicated who the provider of the alternative proposal is. 1. Continuation: My understanding from your response was that talks with the MLA's had paused and that an Alternative Funding proposal was being considered, and that this Alternative Funding did NOT involve the following MLA's: Export Development Canada, ING Bank, J.P. Morgan Limited, Lloyds Bank Plc, Societe General Corporate & Investment Banking and The Royal Bank of Scotland Plc. Q1. Continuation: Can you confirm that there are no members of the MLA's involved with the Alternative Financing Proposal, and hence why talks with these MLA's have paused? IR 2nd Response:  Thank you for your email. As I hope you can understand we are unable to comment on market speculation or rumour about who the provider of the Alternative Proposal is. My email was intended to flag that our conversations on theoriginal debt structure had paused. IR Telephone Conversation - 12th April:  When asked as to how long the 'major global financial institution', from which the Company had received a conditional proposal for the Alternative financing, had been involved with the financial arrangements where the Company has raised funds, the response was “from the very start” IR e-mail - 23rd April: The institution [major global financial institution] is familiar with the Project and have been in discussions with the Company for a number of years and are therefore well versed on all aspects of the Project. Comment: It makes sense that the conditional proposal from a 'major global financial institution' is one where there has been considerable involvement with raising funds and has a long standing history with the Company. This institution will know the Company inside out and have a full understanding and appraisal of the projec

Torps not troops. Almost into the Brexit thing there sorry.

If there is a chance that the tbr will achieve quicker than forecast first poly. It may be that Sirius will not need to borrow quite so much.isnt this why a more flexible arrangement was sought.personally I'm hoping that Sirius will be able to borrow as and when they need the funds, Alongside a partnership arrangement with adm for the European troops, similar to the cibra deal resulting in little if any dilution.

ffcmember. No he/she is nothing to do with me. I'm very positive about this project and in as for the long term.(selling a few for my retirement along the way mind)

If I was shorting this s.p I would get myself bought back in very quickly on this news. I am interested to see your views on it. Faster time to production equals less finance needed from where I am sat

It seems to me that the implications of the tbr cutting rate are massive