Member Info for Gertfrobe

I saw a recruiter for Middlesbrough/Teesside for a construction company asking for “large amount of sia security staff"....
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That's in case any riots broke out in front of Sirius head office after the next RNS....

KOH

https://www.thesun.co.uk/news/politics/10624951/boris-johnson-to-rip-up-treasury-rule-book/

Lord O’Donnell, the former cabinet secretary, described the plan as an “excellent idea”. He said there was clear evidence that increasing incomes up to £80,000 a year was associated with higher levels of happiness, after which additional earning made almost no difference to wellbeing.
“It would be daft not to incorporate models of wellbeing into this,” he said. “A traditional cost-benefit analysis merely looks at what constitutes an economic gain without examining the effect of that gain on different groups of people.
“It means it is far harder to justify an infrastructure project that would link up northern towns and cities than it would be to justify a similar project in the south of the country.”
Lord O’Neill of Gatley, a former Treasury minister who is now vice-chairman of the Northern Powerhouse Partnership, said he had long believed that the present system “does not make any sense”. “By definition, it adds to the attraction of projects in heavily populated, economically vibrant areas — usually London,” he added.
The Treasury said: “We work across government to ensure investment is focused on where it is needed across the UK and delivers value for money for the taxpayer.”
Q&A?How is government capital investment allocated??All investment proposals are scrutinised by Treasury civil servants according to the “green book”. These guidelines lay out objective criteria under which all projects are judged to ensure that public spending gives maximum value for money. Ministers can overrule their officials’ advice but they may have to write (and publish) a “direction” telling officials that they want to spend the money even if it is judged poor value.
What is the criticism of the current system??Many, including former ministers and officials, say the rules are too rigid and have held back economic development in the north and Midlands. For example, transport infrastructure guidelines favour looking at how shorter journey times in various parts of the country can improve productivity.
But this calculation uses average earnings, and as these tend to be higher in London and the southeast it favours transport development projects in these areas. Critics say that if you do not improve transport links in poorer regions they will never fulfil their potential.
What is being proposed??The Treasury is seeking to change its approach, such as looking at how a measure would improve the economic wellbeing of the target area. For example, it could analyse forecasts for how much the investment would raise average earnings. It could also prioritise closing the productivity gap as these have always been higher in poorer parts of the UK. No final decisions have been made but it is accepted that the rules must change.
When is it likely to take effect??Around the time of the spring budget, Treasury sources say, possibly in the form of a formal review. But Downing Street is unlikely to favour this since many capital projects have long lead times and Boris Johnson

Treasury to rip up public spending rules in cash boost for north and Midlands
December 27 2019, The Times
The Treasury is planning to rip up decades-old public spending rules in an effort to boost economic wellbeing in the north and the Midlands.
Under proposals being drawn up before the spring budget, ministers will reassess how officials calculate the value for money of government investments in transport infrastructure, business development and initiatives such as free ports.
Investment decisions would be less focused on overall national economic growth and, for the first time, Whitehall resources would be allocated on the basis of improving the wellbeing of people in the north, or narrowing the productivity gap with the south.
The change is seen as key to fulfilling Boris Johnson’s election pledge to unlock an investment bonanza in communities that voted Conservative at the election for the first time.
Mr Johnson’s chief adviser, Dominic Cummings, has criticised Treasury rules for favouring rich areas of London and the southeast. Under the department’s existing value for money criteria an investment has to be shown to maximise economic return in terms of a measurement known as gross value added (GVA). The criteria, set out in the Treasury’s Green Book, affect everything from transport infrastructure projects to the promotion of scientific research and development.
Last year a paper by academics at Cambridge and Manchester universities argued that the policy had contributed to a disparity between the least and most productive regions that was “extreme” by the standards of most developed countries.
A change in methodology could affect, for example, where the government opens free ports, tax-free zones intended to encourage economic activity after Brexit. When Mr Cummings was told by officials that plans for free ports in deprived coastal communities would simply divert businesses from other areas he is understood to have said that that was his intention.
A senior Treasury source told The Times: “It is a very big thing. You have to think about the outcomes you want to achieve and work backwards.
“The traditional way to look at it is the simple GVA per head. There is a question of whether you change that to take into account wellbeing productivity discrepancies. It is an exciting debate and you’re going to hear a lot more about it in relation to the budget.”
The source added that it would not affect the fiscal rules that Sajid Javid, the chancellor, set out during the election: “We still need to be fiscally prudent. The truth is that if you spend one pound in one area that is a pound you don’t have to spend somewhere else.”
Lord O’Donnell, the former cabinet secretary, described the plan as an “excellent idea”. He said there was clear evidence that increasing incomes up to £80,000 a year was associated with higher levels of happiness, after which additional earning made almost no difference to wellbeing.
“It would be daft not to inco

Bucky , the last post you wrote.
“You raised the prospect of mining poly, clearly you would need two shafts to mine legally.

There was no mention regard to the initial digging of each shaft. Clearly you can dig one shaft at a time, you just need two before you start mining”

Have you been in the Pub all day.

What are the going to do with the $800000 worth of poly the shaft goes through, and then connecting the two shafts.

Bucky, this is the shaft sinking regulations, you were looking in the wrong place.

“Pretty sure that they need two shafts before they can start mining, mines (safety of exit) regulations 1988).”
How can you have two means of escape when you sink a shaft.
The Mines Regulations 2014
Shafts, outlets and winding
Regulation 36 Shaft construction and modification
The mine operator must ensure that, so far as is reasonably practicable, the construction and modification of every shaft is planned, designed and carried out so as to be safe and without the risk of injury to any person.
188 In the planning, design and construction of a new shaft, or staple shaft, or the modification of an existing shaft the nature of the strata through which the shaft will be sunk, and the eventual duty of the shaft, should be taken into account. The lining of the shaft should be suitable to safely withstand the forces applied to it, including hydrostatic from water-bearing strata or from weak or semi-fluid strata.
189 The mine operator should identify the hazards to workers and others during the shaft construction or modification operations, eg falls from height, ground movement, falling objects, inrush and outburst, and the lack of a second means of exit. Arrangements which allow for a safe system of work should be developed and implemented, including the provision of a safe means of exit for all people from any part of the shaft to a safe place.
190 Shaft construction operations will involve the use of specialised equipment. The mine operator should make sure that such equipment is specified, designed, installed and operated safely.

Just did a quick calculation, sinking one shaft 7m wide in a 50m seam is worth $800000
To Sirius.

Bucky,it came in well before that ,off the top of my head 1860 something,

Bucky , Believe it or not there is Polyhalite at the bottom of the shaft , quite a lot of it.

Bucky you are very selective with the parts of the RNS you publish, the base case for shaft sinking is April 1st 2020.
A series of detailed work programmes have now been developed to identify expected and target schedules for all activities across the construction period. The original base case schedule was for a total period of sinking to first polyhalite of approximately 23 months. A revised schedule has now been developed based on changes and initiatives that are expected to reduce this by three months. Two other target schedules have also been developed - a "reasonable" target that identifies another two months of savings, and a "stretch" target identifying a further two months of opportunity. None of these schedules change the Company's conservative position on the level of grouting required through the Sherwood Sandstone but do include varying degrees of process improvements in that part of the work programme.

These schedules, if delivered, would see first polyhalite delivered between three and seven months earlier than in the Company's Revised Base Case schedule. Although focussed on delivering on these, the Company's Revised Base Case schedule will retain the original base case excavation assumptions and the Company will pursue the accelerated schedules to deliver either early completion or contingency in the delivery schedule. Once a successful track-record has been established the Company will look to adopt a revised schedule.

“The issue here is not first poly, that is still two and a half years away (according to RNS), the issue is where is the investment coming from and how much if any will be left over for current equity.”

Bucky please supply the link , 2 1/2 years to sink 1 shaft .

Bucky how do you complete a mine ? Is it first Poly. ?

IBAB is now using the Simpsons for research, in his defence it’s a vast improvement on The Motley Fool.

National Infrastructure Delivery Plan

The National Infrastructure Delivery Plan sets out how the government will support the delivery of infrastructure projects and programmes to the end of this Parliament. It also includes dedicated support for private sector investment.

The latest version was published in March 2015. It covers five years from 2016 to 2021.

IBAB with that masterpiece of comedy, do you think you could make it one a year.

They must be working 48 hours a day.

Chris there is a good chance he’s on the wrong board.

It’s probably quite dark under that bridge, IBAB ask the council to fit a Streetlight, then you can bash 24/7.

LB ,the ventilation system will cool it down .