You are welcome tiggerman. Btw I for one did believe.
Its as good an indication as you will get that DMC are involved in the background as a potential halo partner.
You must have some degree of certainty of a restart to put the advert out.
I wish you well in your investment here.
By the way
They do get involved in "Equity Partnerships" ( as some already know)
My money is on them being one of the Halo "parties" engaged in due diligence. They will know the project inside out and the continuance of the business depends on it - and to be fair there was a lot of emphasis on the tunnel and tunneling in Mondays RNS.
Field Positions (General Applications)SAVE
DMC Mining Services
Apply on Glassdoor
5 days agoFull–time
DMC Mining Services is a leading provider of mining services and solutions. As one of North American’s premier underground contractors for over 38 years our comprehensive list of mining services, range from shaft sinking and raise boring, to full mine development and operation.
With one of the lowest incident / accident frequency rates in the industry, DMC has been called upon by many leading mining companies to fill critical roles in their success. Our focus is on applying the expertise of our employees to attractive projects while pledging to deliver leading technology and overriding commitment to safe practices.
Our core values: Zero Harm, Teamwork, Results Driven, Courage and Accountability.
We are currently accepting resumes for the following positions located at various current and future projects with DMC Mining Services in the United Kingdom:
• Project Manager
• Shaft Superintendent
• Development Superintendent
• Construction Superintendent
• Safety Coordinator
• Project Controls
• Project Clerk
• Construction Leader
• Construction Miner
• Shaft Leader
• Shaft Miner
• Project Engineer
• Development Leader
• Development Miner
• Shaft Technician
• QA / QC
• Raise Bore Helper
• Raise Bore Operator
• Raise Bore Supervisor
• The description is for the purpose of information only, and reflects the general duties considered to describe the principle functions of the job and shall not be construed as a detailed job description of all work requirements that may be inherent in the job. It is understood that the terms or conditions of the job are subject to change as may be deemed necessary by the Company to maintain a safe and efficient operation.
As part of our commitment to ensuring our employment practices are fair, accessible, and inclusive of persons with disabilities, please note that accommodations are available, upon request, throughout the recruitment and assessment process for any applicants with disabilities.”
DMC Mining Services is an equal opportunity employer. We thank all candidates for applying, however only the candidates selected will be contacted
From the glassdoor advert.
Might actually not have been that far wide of the mark in what he actually alluded to.
Interestingly it would seem that DMC Mining Services are advertising several job vacancies in North Yorkshire through glassdoor - as of 5 days ago.
Maybe CF knew a little bit more than he let on.
When the market makers open the share price up and then slowly reduce things back on both the Offer and the Bid that's not drift. It's been happening for 3 days and since the Conference Call.
The net effect is that despite a spot on RNS that ticked all the boxes there has been no reflection in the price. In fact the share price is cheaper than it was when they signed the 10 year offtake agreement with the Qataris - which again is not reflected in the share price.
At the present share price and now with a revised and derisked plan going forward it'll be full blown takeover rather than Halo investor. Why settle for some when you are being gifted the lot.
Others to watch.
If the market makers make their money off the difference in the spread and the accompanying volume of shares traded then their should be some lay-offs and redundancies coming.
Instead of several days worth of sustained over 100M shares changing hands and a momentum build its down to a trickle.
If they are not going to properly reflect good news and progress in the share price then people switch off and do other things.
And by no less than the close of the next market day we are back where we started and at ridiculous share price and at a market cap - and where anyone conducting due diligence presently might as well just bid for the company whole. It is presently being gifted for an absolute song.
The company pushed all the right buttons and left no stone unturned yesterday and delivered a stellar update and conference call, a sound and sensible plan going forward, good cost savings and have managed to take out the main risks which have been a hindrance to funding in the past. If there had been anomalies or discrepancies between the RNS and the conference call you might expect this type of reaction but it was flawless.
In return Mr Market has given the company sweet f.a. of recognition for all their hard work and endeavour. Is it any wonder that companies quit the market and investors are left asking where in all of this is an orderly market.
As for whom is responsible some are citing shorts but for me your market makers in my view are as culpible as any others here in manipulating the share price and that was apparent post the Conference call yesterday with virtually every small trade being able to pull the price down one notch after the other. Same probably this afternoon.
Do I think SM will be here in 6 months time after yesterdays update. Absolutely yes.
Do I think they will get £470 Million. Yes easily.
Do I think they will get a Halo Investor. Yes. Possibly more than one
Do I think they will make up time throughout the process. Yes.
Do I think they will get the Senior debt sorted and be fully funded to complete the project. Yes.
Market Cap tonight - A ridiculous £227 Million quid.
Gina Rinehart paid £245M for a smallish share of the action at circa 35p
Parties - plural already engaged and conducting due diligence.
Its a real sad indictment on capitalism and markets generally that this is how they treat a company doing everything right to remedy things.
Back in September when they withdrew from Stage 2 finance and they were embarking on repaying the 400Million bond monies they already had approaches re alternatives so I don't think they will have any difficulty in raising £470M
"Alternative financing arrangements
The Company also intends to explore alternative financing structures. While the current stage 2 financing process has been unable to be completed at this time, a number of different investors and advisers have indicated the potential for a range of alternative approaches. These alternatives will now be assessed in detail to determine if there is a way to structure the financing of the development of the Project to enable either the existing development plan or a revised development plan to be financed through different means."
I guess that doesn't count for anything also - and the market would wish us to still fork out..
This is what this is all about going forwards and it will make the raising of finance easier and on better terms. From yesterdays RNS.
"The Company believes that the scope-based approach to development ought to significantly reduce the risk allocation compared to the Stage 2 Financing in the areas outlined below:
· Technical risk (reduced) - funding and progressing the Initial Scope separately removes the higher risks typically associated with deep shaft construction from the scope of the funding provided by the senior debt providers. As described above, this transitions the construction risk away from a "mining" context and into a more "infrastructure" style risk framework where the main risks are consistent with civil construction. In addition to this, progressing Drive 1 of the MTS further reduces the uncertainty around execution risk and establishes a clear track-record of delivery for the remaining tunnel scope.
· Commercial risk (lower) - Funding the shaft sinking through the Initial Scope removes the amount of "risk sharing" style construction contracts for senior lenders. In particular, the balance of the scope is predominantly fixed price.
· Time to cash flow (reduced) - The senior debt financing would be required at a time which is closer to the point where the project is generating operating cash flow. This could ultimately reduce the funding required to pay interest during construction, subject to the cost of the capital required for the Initial Scope, and a portion of the operating cash flow during ramp-up can be utilised to fund the Deferred Scope. The amount of operating cash flow assumed will ultimately be subject to discussion with the lenders.
· Quantum of debt (reduced) - The Deferred Scope contemplates a capex requirement of up to US$2.5 billion. The potential to incorporate material operating cash flow into the financing plan combined with the reduction in interest during construction provides significant benefit to the financing plan. This proposition would remove one of the key challenges of previous debt financing activities (where over US$1.5 billion was required to fund financing costs during construction).
· Credit metrics (robust) - The previous Stage 2 Financing was provisionally rated B/B- by Fitch and S&P respectively. The enhancements to the contemplated debt financing outlined above seek to reduce the total debt required and the perceived execution risk of the Project.
· Other enhancements - From a product perspective, the Company has continued to increase the volume of production under long term contract and has now established a global distribution platform with peak contracted volumes now in excess of 13 Mtpa."
It's not as some would have you believe a little that has changed. It's a lot.
It's not a mountain to climb for it is now in two manageable chunks and with the first getting to the Poly4 earlier and generating revenues.
The full plan is built around eradicating and diminishing any project risks for any debt providers.
Tunnel as good as completed. Risk diminished.
Poly4 produced early and for 12 months. Proven track record. Risk diminished.
Halo Partner onboard for the £470 Million pound quid fundraising and sponsoring the 2nd phase. Risk diminished.
Tunneling is also at a 40% better rate and it's got the good ground coming up.
Parties - plural - have also already been engaged.
You can play tricks with the share price all day long but as of yesterday Sirius Minerals is in a much better position going forward. Much better that about 7% presently on what was already a ridiculously low share price that bears no resemblance to present monies already spent, cash left and what is a world class 2.66 Billion tonnes of Poly4.
Happy to post the risk statement off the tail end of yesterdays RNS.
Yes patience required but a much clearer plan and picture out there for how this will progress.
A number of superiorly thought out posts off you yesterday and today.
You do realise also though that the market cap last night was sat at only a mere £243 Million and less than what Gina Rinehart paid for her offtake and shares (£245M)
What with SXX having opened up the books to enable the potential strategic halo "parties" plural to all do their own due diligence do not rule out the potential for a full blown takeover.
It is even more of a sitting duck right now that a range of parties have been engaged. This is a world class asset.
Good Post Sorceror and I hinted also yesterday that they had no pronlem previously raising the 400M from Bonds.
If it's £470 Million that they need to get to a derisked situation for senior debt and with a Halo partner inboard also then the plan is a winner.
Kiss goodbye to admin as it simply won't be happening.
Startegic Halo parties engaged.
The investigative journalists will be on the case of who the parties are. It won't be long before a name or two emerges. Several are well connected for whispers and market rumours.
Still cheap as chips.
He's guessing but with charts to back him up and to be fair he is not a bad technical analyst.
It's out of all of our hands as the AT trades will decide where it reaches a present equilibrium.
For me - mid 4p's qnd 5p would not be out the question in the interim.
Off to bed.
Zak Mir thinks 5p Aubery.
That would be a nice start and platform to further build from and given todays RNS.
Somebody I think grabbed about 50 to 70 million shares post the conference call.
Good Luck whatever your strategies.