Member Info for KnockinOnHeavens

wwguk

I hope you are right. I already gave up on 'Sirius' dream, I'd simply love to get a chance to get my money back at some point (even if it means mad dilution and waiting for more advanced construction stages to be completed).
If, hypothetically speaking, somebody came to me today offering to purchase all my holding for a price in early twenties (so that I can breakeven) but on the condition that I can't invest in Sirius anymore for the rest of my life, I'd take it without blinking an eye.

A lot of stress / volatility / speculation ahead of us. The next month will feel like forever.

KOH

KOH

RuSirius

Exactly. It's not a question whether the mine will be built or not. It's too important . It will be built.
The real question is - WHO WILL OWN IT in the end?

And yes, the last RNS is simply unacceptable.

KOH

Myo

To think that a company that had raised $1.2bn at stage 1 (before any ground had been broken), then $825m so far at stage2 (after massive progress), would be unable to raise the additonal $500m via bonds or otherwise, to access the RCF, in my opinion, beggars belief.
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A new owners will be more than happy to pick it all up for a fraction of the value. Beggars belief? Hmmm. Certainly not impossible given the circumstances.

Just saying.

KOH

If it's all true and they 100% suspended it due to temp market conditions in the face of fast approaching deadline in September then what's the logic behind it? I personally can't see how the market can substantially improve in the next couple of (or so) weeks and even if it does it would be just plain stupid to risk reaction like we saw a couple of days ago and bet on uncertain future to save extra few millions. With all due respect it doesn't make any difference when you look at the scale of the project and future revenues and iabsolutely wouldn't be worth all the associated risks.

IMO they either:

1) Really couldn't sell the bonds which is a really bad news (and looking into alternative options as a matter of urgency now) - probably not a great news for the current shareholders whatever it might be, but better than going bust
2) They are so confident the bonds will go in September (based on whatever info they have) that they decided to suspend it hoping they can save more by launching next month
3) Beginning of the end, market conditions used as an excuse, administration, company picked up for pennies, current shareholders fuc#ked, somebody will save it and build under the new ownership taking all credit for "saving" jobs & project. Mine will be built. PR & press will do the rest. They will be heros, we will be bankrupt.

KOH

IB

Oh yes, Staley is next after him.

KOH

BradSmith

I am disappointed with his performance, I've always been. If he can't pull it off he should have resigned a long time ago. He probably holds to his 123m shares - if he pulls it off he's rich if he doesn't he loses nothing because he didn't invest, leaves with his salaries, sell his manor is Yorkshire and books a return to Australia and we are all fuc#ked.

No problem as far as he's concerned. Worth giving it a go. Fu#ck public investors.

KOH

KOH

PS.
I don't take "he did what he could" excuse - not good enough.

KOH

The only thing that really concerns me is that when it comes to project delivery Fraser is doing great but when it comes to Finance he regularly under-delivers.....He already diluted us to a crazy 10bln and even with that didn't fully secure the ST2. How bad was that? It kicked him right in the face. Now the business is left at the mercy of some "unfavourable market conditions", Trump, Xi (or whatever his name is) and everybody else. Thousands of ordinary people face a huge (sometimes life changing) loses. In a big picture this is a mad incompetence and serious negligence. To be honest I personally don't trust the guy anymore and don't believe in his abilities. Simply holding on and waiting for some miracle now. I am not selling but it's not because I believe in CF and BOD. It's more a desperate bet .....

KOH

Chrisabirdies

Are you adrenaline junkie or something? :)

KOH

There have been no TR-1 declarations not sure how many days they have to declare and only if they cross the % lines so although the thought of selling has crossed my mind but I will wait to see what they do.
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The most recent one on Sirius website has the following dates:

Released: 10-July-19
Date on which the threshold was crossed or reached: 05-July-19
Date on which issuer notified: 09-July-19

One before that:

Released: 08-July-19
Date on which the threshold was crossed or reached: 04-July-19
Date on which issuer notified: 05-July-19

KOH

https://www.hl.co.uk/news/articles/sirius-mineral-shares-collapse-on-financing-delays

wwuk

Great, thank you

KOH

trion, reckon you are spot on there, I have been thinking about the "World class Contractors" also and if they sniffed a problem, they would not be pressing ahead the way they are something else defo afoot.
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Exactly, and that is why I asked for as much info as possible. Monitoring of the progress on the site is and paying attention to anything unusual is absolutely crucial now.

If anybody sees / knows anything, please post asap.

Many thanks
KOH

Thanks Jiffy,

KOH

MrMath

Exactly, that's my only worry. Not some "unfavourable market conditions", high coupons , alternative plans or even more dilution. That's all fine. I personally believe they will sell it sooner or later, worst case scenario being a temp slow down to preserve liquidity until the sale is completed. All providing that it is all done in a honest and transparent manner. And that's the real problem that we face IMO. What I am really worried about here is that that sudden change of direction, agreement of the conditional ST2 deal and leaving an"open door" was all an integral part of a bigger master plan. Those people in corporate meeting rooms have no mercy. They are worst sort of thieves and thugs. Completely ruthless and blinded by the greed. The company, people, PIs are nothing to them. Breaking law is nothing to them either. They take calculated risks all the time balancing between jail and freedom and paying off everybody from the finest corporate lawyers and accountants to law enforcement officers and judges. That's what Fraser deals with (and hopefully doesn't take part in) on a daily basis. Do you remember the guys who collapsed world economy in 2008? Guess what - they are still there in their corporate limos and offices with helipads, making decisions and looking for another opportunity to make it quick. And if they see the possibility they will take it without blinking an eye. Powerful press & PR will do the rest. Nobody will remember in a couple of years at the grand opening of the mine by the new owners.

The worst thing about this situation is that we really won't know until we know and when we do it will be too late to react. So really, it can now be boiled down to the simple choice: Do you believe in good and honest intentions of Fraser, BOD, JP Morgan and Co? If yes, I guess hold or buy. If you don't - time as well as you can before the end of the month and run for the hills.

Just my opinion.

KOH

Does anybody know how to access a more detailed list of significant shareholders of SXX? The one on the Sirius' website shows only first four:

- The Capital Group Companies, Inc
- Jupiter Asset Management Limited
- Pelham Capital Ltd
- Qatar Holding LLC

How to see e.g. a top 20?

Thanks
KOH

Then again cash isn't a problem yet.
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That's not the point. And only because you have cash available doesn't mean that you will be drowning it all to the last day if you know something that market doesn't yet. The point is that if you plan to slow down (or worse) the signs are often there before final announcement. It's a process and it takes time. And time is crucial here.

So please pay attention and keep us updated regardless, one can never be too cautious.

Many thanks
KOH

Please can I kindly ask anybody living close to the mine or working for Sirius or having friends / relatives working in the area or if you simply hear anything to share the info with us on a regular basis for the next month?

- Do you see any signs of slowing down or is it still full steam ahead?
- Did you notice anything suspicious being implemented (withholding orders for materials, reduced activity in the supply
chain, anything unexpected etc)
- Any unusual internal announcements? Unexpected cuts? Recruitment put on hold?
- Finally, any internal rumours?

Anything unusual (even if seems irrelevant), please share.

Thanks in advance

KOH

15 LIVES

Maybe the don't but that's not the point. The point is that the "short and cold" RNS in such a crucial and uncertain times feels like almost designed to cause certain reaction. Imagine if you were selling those bonds and you can get it done but it's conditional - people in charge know well that your future depends on it therefore can hold you to ransom.
Simplified scenario:
1) Shorts open at 14-15p
2) We will take the bonds if....
3) Cold RNS designed to cause panic
4) Panic
5) Shorts closed around 10p levels
6) Uncertain month - cheap LT purchases & trading gains on volatility
7) Closing the deal -final announcement & re-rate

All you need for the above to happen is to have willing conditional buyers for the bonds & power to suspend the proposed offer. Easy. I personally don't believe in any "current market conditions" excuse, I think they were used as pretext.

It is either that or Fraser really couldn't sell them and is looking into other options as a matter of urgency now.

Or worse, we are witnessing the beginning of one of the worst scams in the history - a ruthless wealth transfer from poor to rich designed long time ago when Fraser agreed to the "conditional" ST2 funding. Now they will fail to sell the bonds (famous "good faith" basis or whatever they call it), blame it on market conditions, Trump, China and Santa-Claus, go into administration, kick us all in the face, buy the hole for the fraction of its value and present themselves as holy saviours taking credit for "saving" the project &jobs and promoting the image of new post EU Britain, environmental care, sustainability and bright future for the next generations. The will probably receive OBEs for that too (if they don't have one yet gained in recognition of the past scams). We will be left bankrupt with the option to wave printed placards at the Sirius HQ (If the name is still 'Sirius') and will be eventually removed by the Police (protecting 'decent' citizens as usual).

I REALLY hope I am fu#ckin wrong.

KOH

I personally think the RNS was short and cold ON PURPOSE. Nothing happens by chance on that level. And they new exactly what catastrophic impact would that "short and cold" message have on the SP at the time of announcement. I mean look at the wording of all previous messages, very selective and thought-through. They surely understand that they way you convey the message is as important as the message itself. And what did we get this time? A fu#ckin sentence. I understand they were "in a hurry" but I really find it difficult to believe that they didn't have a time to write a couple of more sentences to reassure the market and existing holders IF THEY REALLY WANTED TO. But they didn't. They made a conscious decision to convey the message the way they did.

Now, the question is why would they do it?

KOH