Member Info for Gertfrobe

Fred16 it’s all on ShareSoc.

https://www.thisismoney.co.uk/money/news/article-8032723/Disabled-veteran-set-lose-250-000-investing-Sirius-Minerals.html

The funny thing I’ve found is that the dryness and directness of Yorkshire people and Australians is pretty similar,” says Chris Fraser, chief executive of Sirius Minerals.

Since moving his family from Australia to North Yorkshire four years ago, Fraser has come to know Yorkshire well. Even before that, from 2010, he has been trying to convince locals that building a giant fertiliser mine under the North York Moors national park is a good idea.

“From the very beginning, the welcome we received has been fantastic,” Fraser says. “We had a huge level of engagement. I would regularly go to the community hall or whatever it was, and there was a lot of trust that we built up.”

https://www.thisismoney.co.uk/money/markets/article-8030587/Power-couple-heart-battle-Sirius-Minerals.html

Emlg you could not write this stuff.

Chesh I only asked Yorkshire a simple question.

Can you see any problem transporting 55000 tonnes of rock , at 45 degrees c at 7m/s in a 37km tunnel, full of transformers lightning and electric motors.

Three years late .

Tech excellent advice, around three late.

Yorkshire what type of construction background are you from?

This is one of the reasons the share price hit 40p.

Chris Fraser, managing director and chief executive of Sirius Minerals, said:

“Today we are pleased to announce that, as a result of that work, we are launching a comprehensive markets-led solution for our funding requirements which will enable Sirius Minerals to complete the development of its mine and unlock what we believe to be the world’s largest known high-grade polyhalite deposit.

“The funding package will bring together equity, convertible bonds, high yield debt, and a $2.5bn revolving credit facility in a multi-stage, flexible structure that balances the availability of capital with the needs of the project.

“Today’s announcement provides a clear pathway to a fully financed project in the months ahead, while enabling us to progress construction at full speed.

Some more from Fraser.

Sirius has already been pre-approved for IPA backing. 'The IPA is the last piece of the jigsaw puzzle,' says Fraser.

Tony99999999
You advised strong sell at 2.85p , and you feel the need to hand out advice.
It’s time to pack it in.

Cleaning windows?

Odey Asset Management has converted its derivative position in Sirius Minerals into shares, as the London-based hedge fund pushes for an improved takeover offer.

Cash-strapped Sirius, which has been trying to build a fertiliser mine in North Yorkshire, has recommended a £524m rescue bid from Anglo American.

It says investors face a stark choice: either accept the offer or risk Sirius being placed into administration, threatening the future of the project and thousands of jobs in the local area.

However, Odey says it will vote against Anglo’s 5.5p a share cash offer unless it is declared final. It claims Anglo can afford to pay more without undermining the investment case behind the Sirius bid.

In a regulatory release on Friday, Odey said it had swapped derivatives called Contracts for Difference into underlying shares and now owned a 1.3 per cent stake in Sirius.

Anglo has structured its offer for Sirius as a scheme of arrangement. This means that 75 per cent of investors present at a special meeting on March 3 have to vote in favour of the deal for the takeover to be completed.

But Sirius has tens of thousands of retail shareholders, many of whom will not attend the meeting or tender a proxy vote. That means the deal could be blocked.

It is not clear if other big Sirius investors, which include Polygon and Jupiter Asset Management, will join forces with Odey and push for a higher offer.

A movement to scupper the deal has been brewing among Sirius’s retail shareholder base even though they run the risk of crystallising huge losses if the takeover is blocked and Sirius is placed into administration.

Speaking on Thursday, Anglo’s chief executive Mark Cutifani defended its offer, saying it was “fair and reasonable” and that Sirius needed more than $3bn of extra investment to finish its project.

He was speaking after the company posted annual results that showed the diversified miner had generated $10bn of earnings before, interest, tax and depreciation in the year to December.

https://www.ft.com/content/f348d19a-5485-11ea-8841-482eed0038b1

Hlmslis try this.
https://moneyweek.com/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover

The campaign to raise the £460m required is now well underway.
Shareholders can protect their shares buying bonds which pay healthy interest in the proposal
Please visit the web site, take the survey and tell everyone
Open to everyone not just shareholders. www.FundSirius.com

“Good luck with securitising that one!”

No luck required, Sirius control the transport.
Quick calculation the shaft alone will produce 6000 tonnes,

“How will they get it out and how much?”
TF a Shaft Boring Roadheader. Into a kibble , into a truck , money in the BANK.

TF the poly that’s in the shaft will create cash flow.