Member Info for JRC1000

Might I suggest that this Bloomberg article is far more relevant to a likely successful bond issue than the speculation surrounding Government guarantee.

Tempus recommends 'Hold' in The Times today. Doesn't recommend new buyers, but existing investors should hold. Strange?

https://www.thetimes.co.uk/article/merged-manager-raises-its-standard-lfqfhp007?shareToken=da4d1090141119e0c23f99d03ae135c6

The crux of the matter is what was the conversation between JPM and SXX before the RNS. Was it.....

A - Listen guys, there's just no takers out there irrespective of the coupon. We recommend you play for time to see if things improve, but don't hold your breath. We hear BoJo's wanting to improve his image up North - why not offer him a zip-wire traverse of the site to get him onside.

Or B - You know there's no problem getting this away, but we're sure you can improve on the terms if we wait for the guys to get back to their desks and other Market negs might also have calmed down by then. We appreciate you can't say this in an announcement and therefore it's likely the SP's going to take a hit but, on the bright side, our short positions will do well and the number of PIs will be reduced. By the way, we've arranged for our man Trump to meet BoJo on site next week so the President can tell him to get his finger out and make the most effective, easiest and cheapest decision to get the northern voters on side. And hot off the Press, Berkshire Hathaway have just called to ask if there's anywhere they can park $3.5B at 10% for the next 5 years. Any ideas?

Do we think it likely that we'll have an announcement when our TBM reaches the 1km point?

'1st Poly Party' is an excellent milestone celebration idea. But please, Mr Fraser, can you start organising suitable car-parking well in advance because it might need to be a big one!!

Fate willing, we shall be celebrating our Golden Wedding anniversary next year. When we married, our JOINT gross salaries came to £2,230 p.a. (graduate engineer and teacher). Today, that is slightly less than my paper loss on just this one equity from the high of the day to the UT. Hmmmmm!

wwguk......Am I being somewhat simplistic if I suggest that £1b profit at a P/E of 10 to 15 would translate into an SP of £1-1.50? 'Baggers' aren't usually a measure of price performance.

We were treated to pictures of Stella Rose entering the portal a few weeks ago. At the stated average of 17m per day advance, can we assume it's now disappeared?

".the tunnel does not need to complete and be fitted out until late 2022. The bonus target for connecting all three drives is 31st dec 2021."

Sorry, Myo, I must be out of date with my Production Schedules. I was referring to the Nov'18 presentation which shows tunnelling completion mid '2021 and fit-out taking us through to 2022.

Thanks for that Strabag link, Gertfrobe. I gave up on the Yorkshireman's nonsense last night eventually and it was good to see some actual performance reporting. That advance rate seems astounding for an 8m diameter head, but assume that the strata is a softer obstacle (60% slate I understand) than ours. However, even half that advance rate would put us into 2 machine territory to achieve the mid-2021 completion schedule.

The tunnelling rate has been projected at an average of 17m/d, and let's assume that allows for standard-issue downtime. So numbers would be 38km/17=2235 days/365=6years/3 TBMs = 2years tunnelling per TBM, which is exactly in line with the mid-2021 timeline shown in the Project Schedule.

Several posters have suggested that if the tunnelling rate is better then perhaps only 2 machines would be required, but they would have to achieve an average of 25.5 metres per day, which probably translates to an actual boring rate of approx. 30m/d to allow for. Alternatively, if such a rate is achievable, then the original 3 TBMs could reduce the project timeline by 8 months, which would bring forward fit out and, ultimately, time to proper extraction (as against just the 'first Poly' raised from shaft sinking and cavern creation).

Tell me - why isn't the OO for a (relatively) unlimited number of extra shares. Would this not reduce the size of bonds, promissory notes, IOUs, nod nod wink wink type of interest bearing instruments?

I've had the same message, but I've ignored and proceeded as normal and all instructions have been confirmed on ISA, SIPP, and standard trading accounts. I'm going to call them on Monday to make sure everything is in order. I've only taken up my OO rights which is in 6-figures, but no extra at this stage although I may review this before the deadline.

Dodger

As with any equity holding, you either genuinely hold for long-term expectations or you trade to (try to) make money from short term market moves. Many on this (and other) boards declare themselves as LTHs, but react and post to every change in SP and most noticeably when the SP moves against them. I suggest that this is more a response to wishing they were more like Traders having ignored those posters who, for instance, strongly recommended selling at significant points such as the spikes at 39p and most recently 27p.

Of course, posters' reactions are dictated by their individual circumstances- one of which is decidedly their age (such as in my case), and therefore their, perhaps, more near-term financial plans.

Personally, I'm very disappointed with the effect this last fund-raising event has had on the SP in the short-term, but I'm more concerned at the eventual value many of us were probably expecting in the next 2-6 years as this is likely to be the period during which I need to take various estate-planning decisions. Regrettably, I'm one of those who has tended to top-up when the SP was moving north but, through wishful thinking (stupidity?) ignored the probably better informed "sell now" pundits, and therefore I have quite a high average on my not-insignificant holding. I may not be as reticence in deciding to sell should such a spike occur again in the next year or two!

PS - It's nothing like another Quindell, although I must admit that I only just managed to eventually break-even on that one by finally listening to more realistic views.

This is the first of the last four trading days to the end of the month. Could this be the first of the four pieces of news awaited? Tomorrow Q1 update; Monday St2 details; Tuesday 2018 full-year results?

Correct. In fact if your investments are by way of straight trading then an ISA is one of the most tax efficient vehicles available insofar as all gains and dividends attributable to the ISA wrapper are accumulated free of all tax. All withdrawals from said wrapper are also free of all tax.

I have long taken the view, irrespective of Party, that Government's ability to apply themselves to potential long-term industrial economics consequences is severely limited. Understandably, being politicians, they're more interested in perception and short-term ratings than actual results (which someone else will have to deal with anyway). Hence the idea of The Northern Powerhouse is a wonderful catch-phrase, but in reality appears to be achieving very little other than things which would have been happening anyway outside such a jingoistic wrapper.

Interestingly, a Sirius IPA Guarantee announcement could have provided one of those win-win political opportunities if handled correctly. A clear statement in support of TNP and future regional and national benefits, with the promise of guarantee 'when appropriate' without any drain on public finances (or at least none which the current leadership would have to worry about). Perhaps I'm prematually misjudging the likelihood that they are capable of such easy PR pickings but, then again, perhaps not!

Sorry if I've missed any posts on the subject, but do we know if the 3rd(?) Stage passes Woodsmith? Could be some good overheads, possibly eliciting comments, if it's close.

Would I be correct in suggesting that there are 4 announcements we would be reasonably expecting before the end of the month, namely.....
St2 Finance
Q1 performance update
2018 Full year Results
European TorP

When the Company refer to 'quarters' they are referring to the Jan-Dec calendar. Thus 1st quarter is Jan-Mar. Quarter and Half years are usually referred to as Q1-Q4, and H1&H2.