Member Info for jonesrichard

I didn't say that I thought that the 600 mill would be raised through issuing shares, hopefully not, that would be the worst case solution.

I see your point but it's not like the majority of companys have dropped 40 % though is it?

eborus, when you state 'The market deems an un-finished, un-financed project as much more risky than other places where it could put its' money at the moment.'

Was it not the case that the project was un-finished and un-financed 3 months ago when the sp was 39p? so apart from the company having to find 400-600 mil which when you bear in mind the scale of this project then its not a huge amount, I really can't see the justification for the sp dropping to where it sits today, if it was just the wider market the I could understand a drop from 39p to maybe somewhere between 30-35p but all the way down to where we are now just doesn't make any sense unless there are major things going on in the background that we are unaware of.

Myo, the market has always known that this project carries risk but that didn't stop the sp being in the 30's for months and months, if anything the risk has dissipated somewhat over the last 3 months so logically if anything the sp should have moved from the late 30's into the 40's but I guess shares sometimes don't behave in a logical manner do they as anyone who is a LTH here will attest to I'm sure.

It all depends on the securing of stage 2 finance, if that is secured then the day that RNS is released, presuming that the majority of the finance is raised through debt, then the sp will most probably open up somewhere in the 30's IMO and the finance conformation is due within the next 3 months so not long to wait now.

On the other hand if we come to the end of March next year and the co haven't secured the finance then I dread to think what would happen to the sp, sub 10p? to be fair the chances of that outcome are slim and if I thought that that was likely I would have sold my holding by now but am still holding firm, pragmatism is the order of the day at this point, I'm perplexed at the recent sp behaviour but think its just down to the uncertainty of stage 2 being secured, even though the chances of it not being secured are slim I guess the market goes by what news is officially reported as opposed to what they suspect is 95 % likely to happen.

Thanks for confirming that PAAA. Much appreciated.

that we're not in danger of dropping out of the 250? does anyone know when the next reshuffle is and what our sp has to be at that point so we keep our place? Thanks

Thanks Jim, your post reaffirms my faith in this project, obviously you are no fool when it comes to picking investments so in a way if you still are confident that ultimately this mine will be built without shareholders being diluted too heavily then thats good enough for me. Thanks Again.

Is there anyway of clarifying that this is genuinely Jim Glickenhaus posting? I understand that one or 2 posters on here know Jim personally so not sure if they could find out for sure, can't remember who the posters were now but if you could respond if possible, to be fair I think it most probably isn't the real Jim posting but you just can never been certain on this type of platform obviously.

I am perplexed also, obviously the market is waiting for the make up of stage 2 finance but it must be the case that they are not absolutely certain that the money will be raised as I can't see why else the sp would be this low, hate to say it but it's looking like there is more chance of the sp dropping under 20p than moving back up to 25p, then again I've been invested here long enough to know the the sp can reverse very quickly usually when it is least expected, right now I would say that it isn't expected to move anywhere fast therefore I wouldn't be surprised to see a mini recovery back to the 24/25p range on the back of no logic as with this share logic goes out of the window when it comes to where you think the sp should be at and where it actually sits in reality. A bit more patience required fellow LTH's.

It finished down 0.24p 1.07 %

I take your point, so conformation sometime between now and end of Jan plus next quarterly update week beginning 6th January 2019.

Should see a fair bit of news over the next 4 months then which will hopefully break the sp out of its currant slump, don't remember the sp being held at these low levels for such a long period of time, presumably some institutions needed the sp to be at a certain level before they would buy, as it doesn't make sense that the sp would be 51.75p before we had even secured stage 1 finance yet now it is 22.5p even though we have had 2 years of progress with regards to building the mine and have signed many off take agreements, I realise that more shares are in issue post stage 1 finance but even taking that into account we should really be sat around 30-35p right now imo.

Anyway the only positive is if you have funds you can add to your holding but I'm at the point now where I want to see the sp reflect the progress that the co have made, fairly confident that by the end of March next year the sp will be much different to today 40-50p + hopefully! GLA LTH'S

So TS has been the last person to confirm that the letters will be received before the end of this year then I guess we should go by that, if as RuSirius is correct and TS stated this after 12th November then we will at least have that confirmed this year then.

To be fair Jimmy it has taken over 5 years to build my holding up to that amount and it has only been possible because I haven't invested in any other stocks and I have sacrificed everything so I could put every available penny into this share, I mean literally no holidays, no nothing basically, to be fair many people on here and off here make my 300k holding look small as they have 700k, 1 mill etc I'm not sure what the average number of shares owned by Pi's, I'm guessing my holding is maybe a little above the average possibly.

Yes Fred I agree with you, following on from your dream of the sp being £1.23 (remember? sadly I have read every post on this BB for the last 3 or 4 years and some just seem to stick in your mind), do us all a favour and dream a 25p one will you. lol any divine intervention would be most welcome right now!

Ok thanks for clarification on the letters, when it is stated "Given the timing of completion of the final procurement contracts, final lender commitment letters are expected to be received in December 2018 and January 2019."

Does anyone else interpret this statement to mean that the stage 2 is unlikely to be confirmed before the end of January 2019 so the earliest stage 2 finance will be confirmed will be beginning of February 2019? then again I guess all letters could be received back next month and they could confirm stage 2 at the beginning of January 2019, guess I may be over analysing the statement, in the end I guess they have up until end of March 2019 to get the finance sorted so wouldn't be surprised if they don't confirm until then, obviously the earlier the better next year as it would show that lenders have alot of confidence in our product also.

At least we should receive a quarterly update the first week of January which hopefully will confirm that the build is ahead of schedule, surely that would give the sp a nice boost, quite frankly I think by that stage we will be needing something to bump the sp up towards 30p as apart from stage 2 being completed I really can't see what is going to break this sp out of it's slump, can't see it dropping much lower than it is now as 22p seems to be the floor (famous last words) Iv'e spent just over 11 grand topping up this year, topped up my holding on 7 different occasions paying 22.19p ,27.66p , 31.86p 32.14p ,23.91p ,23.09p. 22.69p taking my current holding to just over 300,000 shares so at least I have reached my target for number of shares but obviously wish I had not paid 27.66, 31.86, 32.14 or even 27.66 and been held those funds back and bought at todays price but those buys were in the climate of stage 2 finance dropping any day so at that point it looked like I was buying shares that would soon be worth over 50p but obviously the delay and the cost overrun made it so I will just have to be patient and wait until next year to see the sp hit 50p.

In the end I still believe that they will all prove to be good buys within the next 6 months presuming that stage 2 goes through smoothly. GLA all LTH's

It's my understanding that we are due an RNS before December 31st this year confirming that the letters are back from the bank? if anyone could confirm that that is indeed the case? At least we have some news to look forward to this year, followed by the January 2019 quarterly update which should be week beginning 6th January? then conformation of stage 2 financing sometime between tomorrow and end of March 2019 so even though things seem pretty flat recently we are in fact due a fair bit of news within the next 4 months so as always just patience required.

Guessing the letters from banks being received is somewhat significant bearing in mind releasing RNS's costs the company money, out of interest does anyone know roughly how much it costs companys to release RNS's? have always wondered. conformation of any of the above would be most appreciated Thanks

I'd like to think so Alan but when it comes to the daily movements of this share it's just as likely go the other way but on the flip side just when you think that the sp will never bounce back up it jumps 5-10 % very quickly, have to admit I have been expecting a bounce back to around 24/25p levels for the last couple of weeks but it just hasn't happened as yet, who knows, tomorrow could be the day that the recovery starts.

Ok Jimmy I will stop, I sometimes do it when when possible but probably best that I leave room on the BB so you can add to your 86 insightful posts. How long have you been invested in sirius out of interest? not sure that you should be dictating to posters who have been here for years.

sp finished 22.50

As it stands the mine is due to officially open in May 2021 so if the rumours from multiple sources are true then we are currently looking at the mine opening 2-3 months early so could be in fact looking at the building of the mine being completed by February/March 2021.

Hopefully this will be confirmed in the upcoming January update, would be good if the build could be expedited and be completed sometime in 2020 that would be even better, to be fair everything seems to be going even smoother than expected, its just not being reflected in the sp at this point. Patience is the name of the game with this share, always keep the following quote in your head as a LTH, it will help keep you sane while waiting!

'The worst part of life is waiting; the best part of life is having something worth waiting for'