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Cran's assessment is exactly how i'd assume this will go too, but, if a government backed tranche is available, i'd imagine it will be child's play to find taker's for it- after all, it's essentially risk free for whoever signs up!
I wouldn't actually be surprised to see a split closer to $2bn commercial tranche, $1bn government backed tranche, especially with the shift of risk to the contractors that's taken place at the bank's request.
https://www.bbc.co.uk/news/health-46865204
More mainstream news coverage of the sort of issue that Poly4 will help to tackle
Certainly looks like any significant volume will move this big time. Nice to have blue days but still a way off what I thought was my ‘daylight robbery’ top up price of 23.5p! Let’s hope the trend continues upwards
I’ll plump for 45p, but a year high to be north of there....
Best wishes to one and all :)
Hi GK,
I for one would be extremely happy if things panned out as you express below. One extra that may need to go in there: EGM to get shareholder approval for any new issue? Unsure if there is still wiggle room left from the ST1 vote, especially with the Cibra deal also going through? Will have a delve this afternoon...
Whoops- Myo got there first!
Or would the TORP level at 8.2 MTPA, above the 6-7 MTPA targeted for ST2, allow for some wriggle room there? I suppose that would come down to whether the finance terms agreed are based on a level of TORP, and therefore cashflow, that is lower than what we currently possess
Depends if you go by Staley on the conference call or the most recent guidance in the RNS! I'd go with the latter
Hi Cherokee,
Good post and I feel the same way about Staley on conference calls- was wondering if anyone else did! Far less polished than CF and seems a little less guarded in what he says.
The BOD have had a really disappointing year on some fronts as you allude to, IMO- personally i'd like to see investor communication improve significantly going forward. The RNS's have been stating the India and Euro Torps are at a 'well advanced stage' for a long while now, all was jolly before the capital requirement increase: i'd not go as far as to say the BOD have been misleading, but there's definitely room for improvement.
Hopefully a derisking and transformative couple of months ahead with ST2 being finalised on good terms. This is where the BOD can really earn their bread as far as i'm concerned.
What happened to the shareholder action group? Tim?
Another year of absolutely naff all. Couldn't be less surprised, what a farce
It's so reassuring, especially with the SP down in the doldrums, to see the company so focussed on project delivery and ticking off milestone after milestone. As CF says, it's project delivery that allows the potential value to be realised, and i'm a very happy investor from that perspective.
I’m not sure about that Jonesy- in the conference call I believe he stated that he’d like to update the market before year end, but he didn’t set anything in stone. Perhaps we’ll get a progress update but I’d be very surprised if the whole package is announced prior to next year
https://twitter.com/siriusminerals/status/1064521162959593473
The MTS begins!
Hi PAAA,
I'll have to put my hands up and apologise on that one- i'd managed to convince myself that there was an extra usage of 'senior' somewhere in previous announcements. I stand corrected :)
Cherokee,
Agree with your below- it's a clear change of wording from previous announcements. Regardless, the investment case remains compelling even with a $600 million equity raise, I just hope that the $3bn targeted as senior debt can be delivered as such.
Their market cap of £489 million is worth 17 times as much as our market cap of £1.12 billion?
And in other news, Sirius have just released a nice picture of the Wilton Site
https://twitter.com/siriusminerals?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Construction continues to march on
Couldn't agree more with your comment DGR1980- i've come to terms with chalking this down to a painfully expensive lesson, but my oh my it's been one hell of a good teacher to avoid AIM/ scrutinise the details/ take everything with a pinch of salt/ ignore 99% of what appears on a BB!
If we do seek to relist then any prospectus is going to have to put significant meat on the bones of this company; i'd be looking for concrete tie ups, deals, licensing deals with a couple of co's, perhaps some clinical trial results that show the Onitor tech and/or platform can make a significant difference in tackling obesity...otherwise I can't see that anyone would touch this with a bargepole. And I will of course be taking anything that's released with a very heavy pinch of salt.
As Dougal has mentioned a couple of times, on any relist there would doubtless be a lack of liquidity- I just fail to see where any liquidity is going to come from on the buy side!
Myo, welcome back- please keep up your posts- head and shoulders above anything else that is posted on here