Member Info for KnockinOnHeavens

Nelson, I must admit - you were right.

KOH

It doesn't matter what they say now, nobody believes them anymore. And when it comes to financial markets, trust and confidence is everything.

KOH

"Couldn't agree more with some of the comments.
This sort of money is small change for your big mining corporations"
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And how much do you think will be left for YOU and other LTHs?

KOH

What we’ve learnt today:

- Shorters are always right, follow them. They know things you have no clue of.
- Leaks are pretty much guaranteed at Sirius – if you see a suspicious drop in SP liquidate your holding immediately. You will be rewarded.
- Widely criticized so called de-rampers turned out to be right (again).
- “It will be trading in pounds” team will now be transforming to “I hope I will breakeven one day if I’m lucky” and “it was always binary” team.
- Conditional ST2 deal agreed in August with the window of uncertainty in the form of dependency on bonds being sold (with JPM’s famous “on the best effort basis”) was a really bad decision. Obviously nobody will take responsibility for that. Bonds didn’t go due to market conditions is the official reason. What about who agreed a deal to be dependent on bond sale dependent on market conditions in the first place?
- Some will still defend Chris Fraser & BOD even if the company ceases to exist. It’s never their fault, it is always your fault.
- Some users are definitely on drugs here – they still see it as a “great opportunity”, CEO sounded “confident” and still believe that imaginary government support could still be “an option” – unbelievable considering the circumstances.

IMHO the “next 6 months” is a soft way of telling us that the project is going ahead but unfortunately without us. We will be lucky to recover any pennies in the long run.

I don’t trust a single word published by this BOD. After the failure to deliver ST2 funding they lost all the credibility. Expect months of volatility and silence (as always) ahead followed by God knows what.

The dream is pretty much over, what’s left is highly uncertain fight for survival.

KOH

"The Board of Sirius Minerals plc ("Sirius" or the "Company") today announces changes to its financing and development plan and a comprehensive review of the various strategic options available to the Company to MAXIMISE value for its shareholders."
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What sort of drugs are they taking there? I want some (and I'm sure many others after today)

KOH

Is 10.00p still considered "acceptable" ?

KOH

Yup, effen deja vu....I really hope we are all wrong and the situation just triggered some old (not that old) fears...

We will find out soon.

KOH

I have never sold a single share... hit me
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Me neither. Hit me too...

KOH

"To me it looks like typical sxx leak where big boys jumps the ship before private investors gets served another **** sandwich."
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Possible, we've all seen it before. The last leak (the one in the 30ties before the one in 20ties where newspapers knew before the RNS dropped) was followed by a further sharp drop on the next day, we will see what tomorrow will bring...

KOH

Makes you even more wonder how many cases a year they are NOT charged with...:)

It is what it is.

KOH

Oh, just a standard day in JPM's office....they are charged with "something" every month for the last 20 years :)
It's part of the job (as sad and corrupt it may sound).

KOH

Today's chart forms a lovely cross section drawing of a deep hole in the ground - a good omen?

KOH

Good luck Kamikaze

We've seen a few "tree shakes" before - at 37p, 30p, 27p, 20p and below, 15p etc

"Tree shake"....what does it even mean? A term used when one "doesn't have a clue of what's going on but the SP it's dropping" ?

KOH

13% down just like that...

?

"If the present financing plan - the only one on the table - does not work and this goes to administration and SHs are wiped out there is no way a new owner would be rewarding a failed previous boss with what is presently over 1% of a co that once financed and built by them will ahead be worth £10bn plus."
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Didn't want to continue that pointless conversation with LL yesterday but with regards to the above - it's very true. Hypothetical end of Sirius in its current form due to failure to raise ST2 funding would certainly mean end of CF as a boss of the company. He would't get much (if anything) if the project went into administration. And he certainly wouldn't "be ok" if he lost shares potentially worth hundreds of millions. Not to mention +10 years of his own life spent on the project.

KOH

"All very true LL, as usual... "
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Nothing true in saying "Did anyone wonder why the board looked so down at the AGM....they knew......CF is ok if he looses all his shares....any new company can issue him equivalent share options..."

I'm all for freedom of opinion and expression but that's one of the biggest nonsense I've ever heard. I can see some got to the stage where they take body language and facial expression of some of the executives during some public gathering taking place months ago as a indication of the future performance of the company....Trust me CF (or anybody) would NOT BE OK if he lost shares that could potentially be worth hundreds of millions in a relatively short period of time. Nobody would. I can understand the criticism and am fully aware that the BOD's performance to date with regards to delivery of ST2 finance doesn't exactly exceed our expectations but you are just spreading idiocy and unfounded fears here. Stop doing it, collective panic is the last thing this share needs in this crucial period.

KOH

...this is the week....
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Not necessarily.

KOH

Scotty,

"Why in your personal view was it a poor decision?"
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Pursuing" The Alternative Proposal" already resulted in disastrous for LTH dilution (10bln shares and potentially more to come) and all of that without even a certainty of securing ST2 funding. We have already taken a huge hit, SP dropped to a ridiculous levels, we are already in September-19 and still speculating about the future of the funding....Not exactly a great achievement to date, is it?
With regards to whether "I believe the gov backed finance proposal was going to come forth" I believe I already said that we we don't have enough information of what was really going on behind the scenes. It doesn't matter what we believe, BOD led by Chris Fraser takes collective responsibility for the decision whether you like it or not, Scotty. If they deliver, I'll be the first to pat them on the back.

KOH