Member Info for Forseti

Also couple of more things. (BHP & other related)

1) Pound is crap exchange rate wise at the moment, so makes it cheaper to build in the near term.
2) BHP is headquartered in Melboune. CF is aussie (via UK, lived in Sydney) you cant tell me he doesn't have any contacts there already.
3) BHP need something ....
https://investingnews.com/daily/resource-investing/agriculture-investing/potash-investing/bhp-consider-future-jansen-potash-project/
4) we're talking about polyhalite, a better product, which is harder to obtain as there are not so many sources, and non of the scale we currently have (or could have),t.
5) Its half the price costwise to get this up and running
6) BHP is not the only big player with big pockets.
7) CF wont stiff the shareholders in the longterm, short term hits maybe to get this thing back on the road but longterm, staff incentives, his holdings, staff holdings (many of which they will have bought), dont annoy the locals etc, all lead me to believe it will come off and in the long term (4 years) be good for the shareholders.
8) I'm feeling lucky :-)

& a reduced overall cost .... :-)

Also you wouldn't have to deal with the weather in Canada ...

I'm not ramping by the way I'm a long term holder, if I was ramping I would say that there could be a bidding war between two majors .. there is only one asset like this on the planet.

OK back in my box, back when its all sorted...... one way ......or the other.

GLA ...etc etc.

bit more up to date news.

https://www.mining.com/bhp-to-decide-fate-of-jansen-potash-mine-in-early-2021/

you pays your money ... you takes your choice, maybe it will happen, maybe it will go bust ...

Other mining majors are available :-)

I'm holding.

Pick a strategic partner ... any strategic partner.

https://www.mining.com/bhps-potash-price-outlook-dims-jansen-hopes/

If only they could find somewhere else to invest in and save some money ....

KOH
& ..... those holdings really represent a tiny fraction of their overall portfolio

Yes agree, that's why they can chip in more, along with a strategic partner ... hang on for the ride ...

KOH.

16.5p currently so yes I'm down ..... a lot on paper. Its only a loss when you sell

But the asset is still there, tell me where else in the world could a major (BHP billiton, RIO, Glencore, etc) get a mine up and running in a friendly country (regardless of brexit) with a 50 year + guaranteed offtake of 10 million tonnes + of product, giving an annual $1 billion profit (ok so figures are off the top of my head) but you get the picture.

Also CF has done this before, this is the second time around, and for what its worth I think he has made the right call to reduce the spend while this gets sorted.

Like I say hanging on for a couple of years time, that's when I'll really be interested in the share price

Don't forget, Norway and Quatar wealth funds are in this along with Jupiter Asset management, all hoding shares at a cost of hundreds of millions, if it goes to the wall they loose their money, if they do some sort of joint venture, then they don't . This is what going to save the share price, yes its gone down recently (I intend to average down @ 1p/2p) but long term (4 years) is where I'm looking.....

Last time I looked at that they still needed a mining licence - do they have one yet ?

Not seen this anywhere yet.
https://uk.finance.yahoo.com/news/why-believe-sirius-minerals-woodsmith-111208821.html

Nice one Vinnie.
I'm the same as you, long term holder, I'm currently down a few bob but in the long term it will come back, Instead of panicing and selling just average down, and bide your time. :-)

I listened in on the teleconference and CF stated that on one day they did 30M tunnelling, so take 5M off that and call it an "average", drop the three tunnelling machines to two, and if anyone clever is out there do a bit of maths, tunnel length is 34KM I believe not sure how far in they are currently. Any ideas on when the tunnels would complete @ 25M per day... ? (Ignore the bit about the money running out midway ) :-)

If you worked for the Norwegian trust fund it would be exactly the sort of thing they go for , diversify away from oil, buy an asset that will produce £1 billion a year.

that's why it will be completed, someone like BHP, RIO , HAN**** will go for it madness not toooo, spend £2billion now get and in 4 years time they get £1billion a year for 50 years +. You cant tell me that one of the big boys will not go for that, fair does they will get it cheap but it will get built. Don't want to argue about how much PI's will get mind.

Theres another director Elizabeth Noel Harwerth who was doing monthly buy ins, it will be interesting to see if she reinstates them .....

Its symbolic, thanks Chris, I listened in on the telecon yesterday I don't think there was anything else he could have done, what he is trying to do now is the only way out.

In a national park ... ?

Last set of director dealings.

Purchase
23 MAY 2019
Keith Edward Frank Clarke
NON-EXECUTIVE DIRECTOR
46,937 0.15 7.27 k
Purchase
23 MAY 2019
Elizabeth Noel Harwerth
NON-EXECUTIVE DIRECTOR,SENIOR INDEPENDENT DIRECTOR
9,048 0.15 1.40 k
Purchase
23 MAY 2019
Russell John Scrimshaw
NON-EXECUTIVE DIRECTOR,CHAIRMAN
2,121,026 0.15 328.34 k
Purchase
23 MAY 2019
Jane Ann Lodge
NON-EXECUTIVE DIRECTOR
214,869 0.15 33.26 k

Check this out.
https://www.google.com/search?q=fortescue+metals+share+price&rlz=1C1GGGE_en-gbGB558GB572&oq=fortescue+&aqs=chrome.0.69i59j69i57j0l4.9823j0j8&sourceid=chrome&ie=UTF-8
Set it to Max and the share price looks eerily similar, but look where the price is now, also a 40cent dividend being paid. In ten years time I think SXX will be the same. Keep the faith long time holders, like KOH I'm not selling out now. Igonore all this stop loss stuff from the newbie posters as well... If they are so interested in stop loss settings , ask yourself why ....?
Also If you dont know why i posted this chart i suggest you do some research to find out, clue would be Chris Fraser and Fortescue Metals.
If hes done it once he can do it again.

Share price (in dollars - to pounds)
$2.75 (£2.27)
dividend 5%
14cents (10p)
How do i get to this .....
Chris frazier "even when this is a $20 billion dollar company it will still have its detractors"
If you take $20 billion divided by the current share allocation you get the above numbers (or close) . As the company will be churning out cash by then I would think dividend could be higher , and the odd special dividend thrown in, add in a share buyback and it will keep going up, also existing supply contracts will be renegotiated around that time as well so ongoing upwards pressure on the share price, (Unless the tunnel doesn't burn down in the meantime) So when Rio Tinto / BHP make an offer between now and then I'll be selling 2/3 and investing elsewhere, everyone can give you buying advice, but that's my selling advice , sell 2/3 when there is a takeover bid, can always buy back in later :-)

To pre-empt. .....
Not for Noel.
Not for Jane.