Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sounds good. In talks with potential strategic partners... So possibility of no further dilution.
Now
The previous deal on the previous terms was declined.
It was made extremely clear that talks would continue, in an effort to find new terms that the Govt could support.
When Parliament shuts down, the civil service (ie the people who work at the Treasury) still continue to work every day. The ministers are only needed to sign the deal.
Citi Group dumping. F***ers.
Whoop!
The cost overrun of Hinkley Point is going to be born entirely by shareholders; not the Treasury.
Price is not the only factor to consider here; more nuclear power means fewer carbon emissions. What value do you place us not making ourselves extinct?... I'd suggest that's probably worth an extra few pence per kWh of electricity.
Citi group buy
The treasury never underwrote any loans to the banks. Entirely different situation.
AED59BLUE there was never any question of the Govt 'funding' this project; only that they would underwrite the loan by acting as guarantor.
CF just said Govt only turned down this specific request for underwriting this specific loan... But conversations with Govt will continue and it's a possibility they could agree to different terms.
The difference is that HS2 would take public money, whereas SXX only needs underwriting - which won't cost the UK a penny, except in the extremely unlikely event that the project fails.
Right now, the only significant risk of failure is the finance, so if the underwrite resolved the finance, the risk of failure becomes incredibly low.
It's therefore a safe bet for Government; they get a win of securing jobs and lowering trade deficit, while not risking much at all.
No longer holding any direct shares. Only financial instruments.
Citigroup. Increased holding by 0.2% of total in issue.
What are they playing at?.... Keep buying and selling. Anyone know what the reason for this could be?
Citigroup - sold 0.3%
KOH, maybe you should write to Alexander Cunningham MP and explain to him how things work?
Then let the Treasury and Theresa May know that they done f***ed up by previously even considering underwriting the loans.
https://www.proactiveinvestors.co.uk/companies/news/212713/theresa-may-confirms-sirius-minerals-financing-discussions-212713.html
http://siriusminerals.com/about-us/economic-impact/
Good news today re the Trump/China trade wars https://www.theguardian.com/us-news/2019/aug/25/donald-trump-second-thoughts-china-trade-war
... So whether we ultimately unlock ST2 via bonds or UK Govt underwrite, *both* of those options look rosier as of today.
Hopefully the share price will continue to rise on Monday to reflect this.
I could see how that could be the case if there was some unannounced finance deal going on behind the scenes... But to me it seems less clear-cut when it's a publicly announced forthcoming bond sale and everyone knows about it.
If you Avocet isn't 100% sure about this either, does anyone else know the answer?
Seems to me that if you were a big bank intent on buying up the bonds (so knew the ST2 finance was covered), then it would totally make sense to make this share purchase - IF it was legally permissible.
Avocet, is that definitely the case (re insider trading issues) that Citi could not buy shares if they have the intention of buying bonds?
I'm not 'challenging you'... I'm legitimately asking as I don't know the answer.
Now +8.5% and it looks like we'll very soon be in the top 10 risers on the London markets today.