Member Info for Cranleigh

Who's Adrian?

Thanks - hadn't spotted it. Only 1%....

Spike? What spike ? (pace Mel Brooks).

Enjoy your day, PAAA! Ordinary one for me too - gardening waste to tip, washing up, cleaning, sandwich lunch .... sorry, realise you probably have no idea what I’m talking about.

at 17h35 yesterday...

Please, no more dilution!!

I would hope any “Stage 3” is just the refinancing, on lower-cost normal commercial debt terms once we are earning, of a goodly slug of the $3bn project finance, an intention that has dropped out of sight in recent Investor Presentations. Off to Whitby today, probably will see more at the museum than at a well-concealed Woodsmith. Last time we went for a look the SP slumped, so fair warning!

I’ve asked Investor Relations if they can (if they have stock) bring some merchandise to the AGM for sale to us loyal shareholders. Hope they do - could help spread the word....and be some early sales revenue!

Without laying claim to any expertise in the matter, maybe they needed the results of all the geological testing using that acoustic thingy in order to confirm the precise proposed track of the tunnel, before this application could be made?

That would be rare, jonesrichard. Normally an acquiror takes 100% of the shares, so shareholders in the target get cash or shares in the acquiror or a mix of the two, depending on the offer.

New news, and if true would expect an RNS if - as I would hope - it should result in material savings. Perhaps waiting to reach the stage of a binding agreement - this is apparently only at the stage,, as the Times journalist writes, of “eads of terms”! Just an eads-up, then?

I doubt that would make economic sense, SL. Blending is a simple, low-capex, low value-added activity. Blending at Wilton would involve extra handling/loading/unloading compared to blending nearer to or even by the final customer. And then of course different customers will require different blends. For me, we are best to KISS - ship bulk Poly4 to market, and leave tweaking to others.

I agree with Mysotis and Scotman about this - I suspect and hope that it is we, with those empty rectangles over Brazil, Europe, Africa and India on page 8 of the new Investor Presentation, and with MOUs and Forward sales Agreements that could be converted into TorPs, that are in a strong bargaining position. Any major distributor wanting to get early-bird pricing may need to sign up pretty soon, or find that we can complete Stage 2 without them. And on price, while the overall guidance has been for an average of $145/tonne, the announcement wording for individual TorPs is deliberately vague, and anyhow the price moves according to market prices of (some of) the components), eg Wilmar 26 Oct 17: "The prices to be paid pursuant to the Agreement are calculated using a formula linked to the market price of certain nutrients contained in POLY4 and is broadly in line with the Company's existing supply agreements.". So maybe $145/tonne is already an underestimate...

Delighted to welcome @BenHouchen to #WoodsmithMine to discuss project #progress and #job opportunities with the company. #northeast #regeneration #teesside #teesvalley Hope that is just orchestration of the kudos for confirming the Guarantee, which is already agreed in principle.

Mysotis, I'm sorry but I don't know, I don't know and I don't know, respectively! On the other hand, I confirm the $350K translates to 39.8p/share at current exchange rate!!

I agree most institutions will wait until some major risks have gone...but I doubt if they are fussed so much about hardware on the ground, shaft sinking and tunnel work as about the $$$$ to achieve those things, ie that Stage 2 finance is secured! Since Vanguard came on board over a month back with 109m shares (2.3%), the II holdings are pretty steady at some 22% (Morningstar) or 20% (Reuters). So unless those sources have a significant lag, recent volumes seems to me to be PI-driven. Probably some profit-taking, maybe still some ISA activity, and above all the word being spread and existing investors getting more confident - sentiment.

“The shorts halving” is not likely to be correct - only the declarable (at least 0.5%) positions have. Some have dropped to just below that threshold, as you can see on Shorttracker, not closed their position entirely.

Speaking of spelling police, surely it should be domum?

I see no rush of IIs. Morningstar show Major IIs at 22.3% of our shares, compared to 22.2% when I last checked on 20 April. Their total holding has increased by around 4.3m shares, thanks mainly to our significant shareholder Jupiter increasing by 3m. As a second source, Reuters are pretty steady at 20%. A long, long way to go before we come within shouting distance of a typical UK major listed company's II ownership. Which is good news.....unless Stage 2 involves dilution, those total II holdings will only be able to increase by prising existing shares out of the hands of us PIs, and picking up the odd few unhedged CB share entitlements.

Heedtheball, This will perhaps come out jumbled, but my record of conversions is: no shares bonds 4 May 17 1,300,390 2 31 May 17 43,563,065 67 5 Jun 17 19,505,851 30 8 Jun 17 112,483,739 173 13 Jun 17 37,711,310 58 16 Jun 17 3,250,975 5 30 Jun to 4 Jul 17 65,669,698 101 4 Jul to 24 Jul 17 7,802,340 12 9 Feb to 12 Apr 18 7,802,340 12 Invitation Apr 18 207,412,205 319 Bonus shares 10,701,458 Like DGR, I'm not expecting more until the late 30s. Good luck!