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OMG...is this really a serious suggestion ?
Dog Star...very astute observation, and absolutely correct.
Perhaps that's where the misleading of investors really commenced.
Myo just quoting slabs from the SRK technical report once again.
Just because Myo can read, that doesn't make him an expert on polyhalite, tunneling/shaftsinking methods or anything else on this project.
stupidity morelike
Punting on an MOP junior ? That's going to get ugly. The main MOP producers are currently running their mines at 70% of nameplate capacity so as to control pricing. If they want to shut the door on Emmerson, they can very easily.
Have you had a look at SO4 ?
DarrylJ...40p ? Really ?
For your own sanity, you should stop posting stuff like this. Its giving you and all the other LTH's false hope...that could lead to depression and lots of other issues.
A range of 4 - 10p...delusional postings of a madman.
I know there is a collective group of LTH's here, but do yourselves a favour and get out before you can't.
OMG...when are people on this BB finally going to realise that it is not actually Citi buying and selling shares ?
This stock has significantly out-performed SXX over the last couple of years. Anyone think of any reasons why this shouldn't continue to be the case ?
Longtermminer - you speak a lot of sense. As a former miner myself, there are numerous questions that come out of the technical reports. However, the LTH's hear what they want to hear and see what they want to see.
what a ridiculous suggestion and complete misunderstanding as to how II's work. You think those guys can just go on market and sell ? OMG...you are obviously soooooo much dumber than I'd previously credited you with.
Jonesrichard, if you worked for a broker and made the 'recommendations' you have made over the course of your postings on this PoS, you would be investigated and prosecuted by the FCA. You're either stupid or a complete fraud...I haven't figured out which yet but I suspect I know the answer.
Why not ? You related to him ?
So, is the article in the Times a case of CF making his first moves of defence in what could/should be a Class Action.
How instrumental was CF with the FMG bond raising ?
Perhaps he just organised the documentation for the Australian leg and the actual raising was completed by Citi' New York corporate bond desk/traders ? Just a thought...
The Sunday Times
Sirius boss: investors were being misled
The boss of embattled miner Sirius Minerals has suggested that investors may have been badly advised when they backed his company. More than 85,000 retail investors face heavy losses after Sirius’s $3.8bn (£3bn) fertiliser mine project in the North York Moors was thrown into doubt last week when it failed to raise $500m in bonds. Chief executive Chris Fraser said: “I read stories where people seem to have over-invested or probably not taken the right advice. I feel very bad for those situations, but we have been clear about the opportunities and also the risks.”
I bet his entry price on everyone of those shares is substantially below all the PI's...
Don't think that his low cost shares make him aligned with you. It's the £1m a year salary paid for by PI's that incentivises CF...
As a UK tax-payer I absolutely object to our taxes being used to support what is clearly a marginal, high-risk project. I know what all the LTH's will say...its not marginal ya, ya, ya. Well if it can't get funding from conventional project funding sources (banks, bonds, equity etc) then it is clearly marginal. If you want to get it government funded, vote Labour and I'm sure they would happily nationalise it...
Despite having TorP's in place (which is a simple low risk approach from the off take parties), they do not guarantee the price assumptions in the Feasibility Study - although I know that maybe a surprise to some PI's who have chosen to blindly follow the comments of CF. Subsequently, the government would face being supportive of a project where pricing might not be as expected, which will subsequently lead to volumes being lower and a fairly predictable death slide...
Wasn't CF involved in the funding of Fortescue Metals in Australia ? Weren't Fortescue taken to court for their disclosure of TorP's ? Was CF involved in the funding when all this was going on ?
Anyone know what the cost would be to rehab the sites back to good old Yorkshire moor land ? Hopefully, the BoD have thought about that and set it aside.
As for CF buying £10k of stock...hilarious. Insulting to PI's but hilarious nonetheless.
So..., I listened to the conference call replay. and have some points I'd like to make and seek comments on.
Firstly, Chris Fraser made mention a couple of times that there were a large number of people that had dialed in and were listening to the call. Therefore, in the Q&A session, how come the only three people that asked questions were the analysts from JPM, Shore Capital and Liberum ? Coincidence ? I don't think so. I think it is highly likely that those analysts were instructed to ask those questions. Has anyone taken those analysts to task for their bullish reports and outlandish price targets ?
Secondly, CF stated that the Wilton tunnel is running 2-months ahead of schedule. Someone should be asking him for proof of that statement. It could be very easy to make such a statement knowing that activity is now being slowed and no-one will really ever know.
Thirdly, a question on the commentary around using the TBM conveyor belt to haul product. Someone should interrogate that a little bit closer - to keep the cost of a TBM down, the conveyors would be sized for the capacity of the tunnel boring rates. I suspect these would be significantly lower than the rates from a producing mine. Is this a case of a misleading statement by management ?
I thought it very interesting that CF told one of the analysts that he didn't want to go into any of the detail with respect to the ongoing work programs. I'd suggest that is because the company doesn't know the detail.
How anyone can take any positives from this conference call is simply amazing. There was a lot of MBA speak from CF and nothing of any substance.
The pièce de résistance ? CF actually said 'the project is in an incredibly strong place...'