Member Info for Fred16

Thank you for your replies - would be great if we could just be told they had all just been sold!

Just a quick question - sorry if I should know answer. Do the company have to inform us if they are going to re-enter the bond market?

You calmed me - I missed all of 7p and came back to 1.88p rise! If only it could be like that every day!

All you can do is base your decision on the research you have done. One thing I do know I would never randomly go on a board and post relentlessly in a negative way on a share I wasn’t invested in - unless I had an ulterior motive of course - or I got a kick out of other watching other investors losing money on paper and rubbing it in

Well said Scotman - my song ‘Wake me up when September ends’ Green Day -

I agree Stanley - I’m afraid it’s the world we live in trying to paint the worst picture to sell newspapers. It’ll be a different story when the bonds get sold (everything crossed) - jumping on the bandwagon of ‘Sirius is just the sort of company this country needs in these difficult times’. It is so upsetting that LTHs are selling at these prices - and you can so understand it. I must admit I’ve half read the board again today - this isn’t pleasant and it worries me that in the long run they’ll be fewer private investors which is perhaps what is wanted - investors who have been loyal to Sirius and lost money. They may well be the chance to buy back but I’m guessing some won’t want to. I wish I could go on holiday with no internet until this is over! Am I worried? I’d be lying if I said no.. Am I going to sell? No. There’s always been investors in this share who bought for less than SP is now and it didn’t bother me when SP was 39p - I’m not buying anymore - I’ve reached my target - good luck to anyone who can buy in now. I’m not predicting anything but if I lived near the site like Emily I’d go for a dog walk now in the rain (actually it’s stopped) and try and get a view of the normality that I gather is going on there.

Fraid I’m here and I’m not very good with bonds either! I think I’m going to bed for five days - I’m going to wake up when the stock markets closed on Fri!

John - my av is 21.67 - down from 25p - big that’s it now and all I can do! - so you will end up the winner!! I’ve got my daughters av down from 35p to 17p but she has a very small holding - I just wanted her to be able to take some advantage - she can pay me back one day!

Plus no way is scooter SL - he’s not going to call himself one of those scooters that the kids use on the pavements - the image I have of SL is of being a scary biker! I never admitted it before bec there are so many motorbike owners who are SH’s but I’ve always been a bit scared of them - even though I wanted to buy a bike with my profits - that’s out of the window now - I’ll be way too old!!

That’s the time when I chain myself to buildings when they try and take my shares!!

Sometimes I think maybe I am not cut out for all of this and maybe I am too glass half full etc. But the way I see is it at the moment the Company still has 7 weeks - 35 working days to either sell the bonds or come up with a plan. It could just be as they said. The markets are obviously going to react badly to the bond sale being postponed, investors naturally are going to be very nervous and predict worse scenarios, the press are certainly going to paint the blackest picture - and whilst is not a good position to be in as an investor I guess we just have to let this play out a bit. I do think the announcement this week was very unfortunate but at this stage what else can they say? - all ultra sensitive I guess. I’m not looking forward to the next few weeks - probably more bad articles, more LT investors selling at a loss losing money, more posters we’ve never heard of telling us they predicted it and how stupid some of us were to talk of £1 parties. You can only say on here what you think at the time if you’re just a normal investor with no agenda. It’s quite clear that there’s very strong feelings amongst investors which I’m sure BOD are aware of - they know we want divs, not to be wiped out! But I’m sure they’ve got other options - notice in FT article comment ‘if there are other plans they are not telling us’ - (or something similar). There’s got to be other things being discussed that are certainly a lot more positive than our worst fears and there’s no way they are going to tell the likes of FT at this stage! We’ve just got to get through the next few weeks and until we hear to the contrary try and think the best and not the worst - sorry if that’s too ‘not taking in the gravity of situation’ - I know how it is but we’ve got 1,176 hours left for them all to get this sorted.

I think most Sirius investors would find £5k to save their investments. We know Sirius has a huge base of us - this can be option E or F. I personally think bonds being revisited will happen asap. If you think about it they would never have launched it without gauging enough interest and the article I posted yesterday showed the reason for withdrawing was as they said. Plus now they have to be thinking of Option B, C, D and now they’ve got E/F (hope they read the boards)! They are not sunning themselves on beach somewhere - that’s for sure. I know I don’t know Chris and I know investors have been very vocal in that they think mistakes have been made with the finance of this project and I really do respect what anyone thinks (real lives are at stake here) but I have also read posts from some of the very LT holders and the picture I have built up of him is someone who will get the mine built but not to the extent of his very large base of SH getting totally wiped out unless it is the very last resort - Option Z. This last year to two has been the very worst possible time to get Stage 2 done - every big decision so far (both Sirius and National/International) has gone the way I thought it wouldn’t - let’s hope this decision/announcement surprises us in a good way and we can look back on this as another stressful time in Sirius journey and those who want to get their money back can and others can carry on on this rollercoaster! This might not be so raw when we get back to our averages - and I do think we will or else I’d sell and take a big loss now - but there are no guarantees. I’m quite enjoying the respite of stock market being closed!

I agree - don’t give up hope KOH - I know you’ve got a lot of money tied up in this and you’re entitled to feel as you do. It’s easy just to think of the worst scenarios when you’re trying to sell something - like a house you really need to sell that you bought for more than it’s worth now - you just see all the faults and things that have annoyed you not all the good things that you originally saw in it. There’s still really good things going on at Sirius with bags of potential - and I think there are going to be a few options open perhaps not great for shareholders but not totally disastrous. Articles are going to home in on our situation - it makes a better story to paint the worst picture. As long as we get this done whatever the SP is and we can hang in there (if we want) things could be very different this time next year. I’m going to switch off from this now and get some things done!

I agree and that’s what I queried when I wrote to investor relations. My only thought is maybe they can’t say anymore - they’ve said their revisiting in Sept to continue on from positive conversations but they’ve got to be looking at other options but they really say that to us at this stage. I’m not making excuses - I know lots of LT shareholders have sold at a loss this week which must have been gutting for them and I feel angry for them - who knows what the right thing to do is.

I’m sorry if this has been posted before - I was in the mood of half reading the board last week!

Someone posted this on FB this week - article on Bloomberg confirming slow down in junk bonds as per SXX statement - basically money is moving to higher grade funds due to general market jitters which does seem to tie in with pulling out of bond sale.
https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2019-08-08/investors-flee-junk-bonds-in-droves-as-trade-war-batters-markets

What’s happened this week is a shock to many investors - we’ve said for so long that the bonds must be sold and we did all fear any hiccup. But take the emotion out of it and the fact that the thought of losing any hard earned money on paper can cause sleepless nights I honestly feel either it’s quite straight forward re the above article or maybe it’s all systems go for plan B - how do we know CF thought he could do better than 13.5% interest? It’s hard to think positively when you feel let down and disappointed. If I didn’t have so much at stake I would be thinking that - to let Sirius fail now after everything plus so much effort has been put into the local community and the North - thousands of which are shareholders - it doesn’t seem likely (that is with my non shareholder hat on). Also a lot of the posts we are seeing on here and FB are from posters who have bought in relatively recently and have seen a dramatic drop very quickly in their investments - so they are posting from a slightly different perspective to LT holders - it’s awful to lose paper money whether your LT or ST but if you weren’t invested and didn’t have any motive I think most people would say knowing the history and the ups and downs it would be very unlikely for Sirius to fall at this hurdle.

Not sure if this has already been on. Seem to remember the journalist was on here asking for investor stories?

Sirius mine setback deals blow to Yorkshire pensioners
85,000 retail investors stand to lose out if UK developer fails to secure funding

After 27 years working as an education consultant, Duncan Fennemore was thinking about winding down to retirement.

But his plans were dealt a significant blow this week by news that Sirius Minerals’ development of a fertiliser mine in the UK’s North York Moors was in jeopardy, wiping a third off the UK company’s value.

“I was all in to be honest,” said Mr Fennemore, who had invested most of his pension in Sirius. “It was a rather silly thing to do, but my pension pot is shot at the moment?.?.?.?I’m 58 years old, hoping to retire in the not too distant future, and that is now looking further and further away.”

The rise of Sirius, which entered the FTSE 250 two years ago, has been supported by the company’s cult popularity with individual investors such as Mr Fennemore, who were drawn in by talk of government backing, healthy margins and the mine’s long life. Almost half of the company’s shares are held between 85,000 retail investors — a large proportion for a company of its size.

Many of these shareholders invested through the online fund supermarket Hargreaves Lansdown, which has a 20 per cent stake in Sirius. Other fund managers also marketed the company. Steve Davies, who runs Jupiter Asset Management’s UK Growth Fund, posted a video to YouTube this year endorsing the developer and saying it had the opportunity to reach the FTSE 100.

“It’s been promoted on all the chat sites, the bulletin boards, Proactive Investors — there’s been significant promotion to retail investors,” said John Meyer, analyst at SP Angel brokerage. Sirius was one of the Share Centre’s five most purchased companies in 2018.

But the project, led by chief executive Chris Fraser, a former Citigroup banker, is quickly running out of cash, reigniting concerns about cost overruns and Sirius’ ability to build a market for polyhalite, the natural fertiliser it plans to extract from the mine in huge quantities.

This week the company delayed a $500m bond sale — which it needed to unlock further financing from JPMorgan Chase — due to market instability. If it cannot raise the cash by the end of September it would face a possible risk of administration, according to documents that accompanied the proposed sale.

“The economic and social benefits of our nationally significant infrastructure project are vast, and all of our stakeholders and supporters know we have already overcome many seemingly insurmountable hurdles to reach this point in the development of Woodsmith Mine,” the company said. “We understand the frustration with current market conditions, but we remain focused on delivering this project and becoming a world class fertiliser business.”

About 25,000 of Sirius’ retail investors are from Yorksh

Maybe - it did cross my mind!

To be totally honest - don’t know what to make of it - doesn’t make sense to me but perhaps I’m tired!

I keep telling myself not to look at FB and here - but I do! You read whats being said and obviously there are good points being made but understandably a lot of negativity. But I do think there are many not posting here or FB - what they are doing, if they can, are just quietly buying and keeping away from all of this or enjoying the summer and are just totally confident in their investment and just not into posting anywhere. So you just get to read the more negative posts. I think at the end of the day CF will do what he takes to get this mine built which is already a message shareholders have received loud and clear but when it comes to the crunch if we stick with it we’ll be okay. I guess we all have our choices and can do what we feel is right!

Hello LL - your post has just made me feel better bec I think you know what you’re doing