Member Info for KnockinOnHeavens

sxx4me

To be honest it is "whatever" for me now - the big dream is over anyway. We may as well take our money and stick it in 10 other "prospects" hoping to double or triple over the next years...

chilting

Sure, you can never rule it out. Counting on "sentiment" alone in 10 years time however is not something that would convince me to invest today...

KOH

The reality is that dreams are over with regards to that share. Over. No more " multi multi-bagging" discussions. No more fantastic returns. No more early retirements. No more dividends supporting families for decades. Many of us would love to break-even at this point. Is there still a potential? Sure. You can still double, triple or quadruple your money if you are willing to wait years and years (if everything goes according to plan). Will it go according to plan? Probably not. F#%k ups happen all the time and will probably happen again. Risk free? Far from that. Future prices? God knows. Supporting region? I don't really care, I am not a charity and never was.

The main thing that made this share super exciting and attractive to date was a possibility of earning great returns if you were willing to wait long enough and take the risks. Now this possibility has been taken away by BOD. Forever. It will never happen. Yes, you maybe be in profit one day but it will not make you rich anymore. It became ordinary and nothing will change it.

Thanks, Fraser.

KOH

mmm diluted crumbles - bon appetit!

(thanks but no thanks)

KOH

if not, Fraser can always introduce more equity:

10bln, 12bln, 14bln shares in issue - what's the difference? Most importantly the mine will be built.....

KOH

"I would urge ALL disaffected shareholders to make the effort and turn up at the AGM and hold these people to account who are trashing our investment and who want us - private investors, off the shareholders register in favour of their city mates"
_________

Yup, definitely. Giving away a huge chunks of company comes very easy to Fraser. Any issue with money? LTH mugs will pay. F#%k them,their trust, years of support and future. I'm good anyway....

KOH

Casual

"He should have tried harder"

Oh yes, he definitely should. He f%#ed up, big time (not the first time).

KOH

Cherokee101

"First question. Do you know what happens to our EPS if our strat partners get a cut of profit? Yes that's right... it reduces our EPS"

Only if you agree to the regular cut for the whole life of the mine (100 years). And why would you do it? Another Gina's type of scenario? This could be negotiated for a certain amount of time (xx years) after which EPS is back to higher levels & more left for original shareholders (or their children) to share.

"Ok next. Hybrid debt, the most common is any type of convertible"

Not necessarily.

KOH

You do realise that each of the 4 options for the additional capital
(400-600) were all shades of dilution right? This was absolutely expected and baked into the price:

1. Strat partner taking a cut of future profits = dilution
2. Convertible bonds = dilution
3. Equity raise = dilution
4. Other Hybrid debt =dilution

The other thing you seem to insinuate is that a high risk, speculative, start up mining project with zero cash flow... was going to be anything other than high risk?

Bottom drawer stuff. Shut eyes, come back in 5 years and check major RNS announcements. Ignore day to day movements.

Or. Sell up and move on.
_________

1. Strat partner taking a cut of future profits = dilution
4. Other Hybrid debt =dilution

Wrong, both not dilution. You seem to be lacking a basic understanding between extra debt obligations and additional equity raise and their long time effect on balance sheet, share price and future dividends......

High risk, speculative, start up mining project? Yes and no, considering all information available to date.

Raising only 2.5bln via debt at our cost? Unforgivable.

KOH

"He added that the extra cost is almost irrelevant given the size of the project and the potential margins involved"
__

Extra costs may be "irrelevant" given the size of the project and the potential margins involved BUT they are certainly not "irrelevant" to those (us, LTH) who had to take another hit in order to fund it. We will all pay for it dearly in a form of smaller dividends and lower future SP.

KOH

"Dividends may be a little smaller in the end"
__

More like HALF of what was expected - not exactly "a little smaller", Dave....

KOH

Does anybody else feel that 1 for 22 is quite insulting? I do.

Diluted crumbles - pathetic.

Thanks but no thanks.

KOH

"I guess we are almost at the point where Capital Group reinvest, it does make one wonder if they had been given the nod."

Of course they had.
Mate, SKY had written an article about it before the official announcement was made.....Everybody knew apart from LTH mugs, probably hundreds of people in the City knew.....

F%#kin wild wild west out there - unlawfulness and widespread corruption at its best. So much for confidentiality of price sensitive information.

KOH

Hi Mr.dt

You know how it is - expectations & then reality check.....I know it's not all bad, it's just pretty far from what we were all hoping for. Early retirement is not happening for many. Can't believe that they didn't even secure 3bln in debt, they've been talking about it for months.....

And yes, switching off for now is definitely a good idea.Seeing both, value and structure of the most recent equity rise, I lost a considerable portion of excitement for the project. Hopefully not for good.

KOH

Diluted crumbles. No, thank you.

KOH

"When future divis could be 25-30% of the current buy price I'm happy to be holding, even if i'm currently quite red"

Not long ago we were all talking hoping for divis of 15-20p one day. Now we are "happy" if we get a 5p one day.

What's next? "I'd be happy to break even after years invested in Sirius?"....

KOH

"Great accomplishment by CF and board"

You've got to be kidding.

KOH

....if it was the last round of dilution for the project. Unfortunately, cost overruns are a norm rather than an exception these days.

Guess what will God Fraser do if he runs out of money? That's right - he will flood us with more shares again.....He doesn't care, he's sorted anyway.

KOH

Milo,

Expected? Yes. To that extent? No.

KOH

Rosewall

Have some perspective. Yes, you are negotiating 3bln or so up front but your are offering a prospect of billions in income every year for a 100 years. Tons of value over the next century. Not impossible task for a skilled negotiator IMO, unfortunately we didn't have one in our team at the time of negotiations.

KOH

Almost 10bln shares in issue in the future (and only if everything goes according to plan and no more "emergencies" in a form of additional funding) is in reality a huge DEFEAT of Chris Fraser and the whole BOD.

Yes, we are funded now (practically), and? At what costs? Poor performance to say at least. Very poor. They weren't even able to secure a full 3bln in debt as promised let alone the rest......

Difficult economic climate? Or maybe poor negotiation skills / corruption?

This way or the other, pretty far from "success" you are trying to promote Mr Fraser I'm afraid, far from that....

GLA anyway
KOH