Member Info for JiffyBag

Can see this tragedy and the involvement of JPM appearing in a Panorama programme for sure, too many unanswered questions.

https://woodfordfunds.com/investing/terms-glossary/forms-8-3-8-5/

Sageman,

But in the meantime, who is buying up all the SXX shares as many have already been snapped up, that is the question.

Is it AA in order to garner greater voting power?

At what % do they to have to declare their SXX ownership position, is 5% or higher?

BigMinnow,

'If C.F. has said he'll accept 5.5 p why would anyone offer 10 p?'

Because it's not soley up to him is it?, all shareholders assuming any PI's that are left holding will have a vote on acceptance or rejection of the TO deal most particularly if say another major miner puts in a higher offer.

https://www.proactiveinvestors.co.uk/companies/news/910270/anglo-american-unlikely-to-be-rewarded-for-experimental-move-for-sirius-minerals---ubs-910270.html

Thank you AK, interesting , highly deviated is that 45degree :O)

Looks to me, like we have been well and truly stitched up , a year ago! FFS

https://www.thenorthernecho.co.uk/business/18147176.ben-houchen-talks-sirius-minerals-new-scheme-help-local-businesses/

Note the text within article:

'Talks are at an advanced stage with mining giant Anglo American and further interest has been received from other parties willing to invest. '

Who are they?

Might be worth consulting ShareSoc as has already been mentioned on this BB.

What other realistic options are there to raise the $600m stage 1 finance ?(Rights Issue springs to mind) to remove the high risk elements , ie shafts, and then move forwards using conventional forms of finance.

It would appear that our employees/our BOD want shot of us asap, so we need a second opinion on the way that this whole debacle has been handled imo., is it fair, has it been handled correctly, so many questions.

https://www.sharesoc.org/

SH's have imo NOT been consulted but duly ignored.

Sorcerer,

Re: 'There is something very strange about the way that this has been announced today. There has been no statement or comment from the CEO or Chairman and absolutely no reference to the Strategic Review, which the market has been expecting an update on.'

Exactly, that is what you would have thought the BOD's would have at a minimum communicated as to why they are now very likely to reccomend acceptance of the derisory offer. ie 'Subject to the successful outcome of on-going discussions (including satisfactory assurances as to the safe-guarding of employee and other stake-holder interests and the agreement of the full terms and conditions of any offer), the Board of Sirius has indicated to Anglo American that it expects to be able to recommend a firm offer for Sirius if made by Anglo American at the price set out in the Proposal.'

Why haven't the BOD communicated what has been going on since the 11th Nov RNS in their attempt to raise finance for the shafts, ie 'An Initial Scope to include progress of shaft sinking to achieve first polyhalite and Drive 1 MTS, significantly de-risking the construction of the Project. This work is estimated to require ~US$600 million of funding to be raised'

Surely if this finance was raised even by existing retail investors I am sure we would succeed in gaining the rest of the finance as the greatest risk element would have been removed. It's as though they are in a rush to remove us PI's from the equation and the question is why??

CF and the BOD have a lot of explaining to do, the silence has been deafening, all options have NOT been aired, SH's have imo been consulted but duly ignored.

Further, the leak, ie large buys yesterday before and after close are very concerning and must be investigated imo.

Yes noticed the large buys, looking forward to a TR1 or 2 maybe :O)

Strange how the SP hasn't moved isn't it (NOT!)

https://www.bbc.co.uk/news/world-middle-east-51028954

In other words don't drill so deep, is there oil above the FB?

Just a thought that crossed my mind, what opportunities are potentially available for drilling and finding oil in HUR licence areas that exclude non fractured basement reservoirs, ie same as BP on Clair?

At the end of the day its all revenue isn't it?

Hi AK,

Agree and thanks for that, and agree we need to add another well asap simply to increase cash flow and thus confidence and future planning in the near term.

Just found out that the AM is only capable of handling 35K bpd not 40K as I thought. Let's hope that HUR and Spirit agree to move on asap with regards to the use of the Paul B Lloyd Junior Rig .

https://www.google.com/search?client=firefox-b-d&q=What+is+the+maximum+capacity+of+the+Aoka+Mizu

The original question in my head though was why HUR were holding back on Lincoln? .....and I think FeelingLucky has already well answered that to be honest, and in the main its the Spirit Conundrum for sure holding back strategy, for moving forward.

The sooner we get an update on strategy the better for all is the way I see it.

Feelinlucky,

Thanks for that, makes perfect sense to me now , didn't before, so many variables I guess did not think of it in same manner.

So many variables I guess to be considered before moving forward, just hope we get to drill on Lancaster asap.

Re: Lincoln;

'This well is currently suspended pending review of Lincoln Crestal as a future potential tie-back to the Aoka Mizu, though that now seems to be on hold, at least in the near term, because of the Warwick Deep and West results.'

This statement confuses me somewhat, we know LC flowed at 9800bpd on testing , so what is the reason for putting on hold in relation to WD & WW?

Can the Aoka Mizu possibly handle 2 additional tiebacks, ie Lincoln Crestal plus another new well on Lancaster?

What is the handling capacity of the AM, I had a figure of 40,000 bpd is that part of the present thinking re LC?

11:22:23 07-Jan-2020 30.60 GBX 3,000,000 918,000.00 Off-book

BB,

Bit of an Animal are you not?

https://www.youtube.com/watch?v=hRXb7K7k7bQ