Member Info for littlened

Can you read skier ? CF did not say he might take it private.He said that in current circumstances the company might be better off private.The two things are different and it is not in CF's power to take it private anyway. Get a grip

As far as I am aware pre-emotion rights would preclude raising more than current market cap ie £235m which is way below what is neeeded.Please explain how more cash can be raised via new share issue without the express consent of existing shareholders

That does not explain how ? Buy shares in the market ?

only 101 needed now

And how would this partner acquire the shares ?

I cannot believe how ignorant and in fact stupid some posters are.
CF has said Sirius there is no intention of SXX going private and indeed it is not in his power so to do.If a purchaser wished to buy sufficient shares so that is technically possible to go private then 75% of shareholders must vote for this and the share price would then be significantly higher than now,by definition,so existing shareholders would therefore be sufficiently rewarded.So what on earth is the fuss about !

If SXX is taken over by another company it may be a cash bid or a share offer or a combination of both.Whichever current shareholders can keep a slice of SXX

We now have over 9000 so a big push needed

its you who screwed up ! The risks have always been clearly very obvious,especially the need to find funding.

On a hopeful note all is not lost though...…..yet

Look at history,politics rarely has any lasting effects markets.Real politic eventally 'trumps'...….sorry !

The whole of Yorkshire needs to sign !Come on

The investment community is in a 'no risk' mode and AIM shares in particular are off the table.It could change rapidly

I have one third of my investments in 4 individual shares,the rest in collective funds.These are SXX,SDX,HUR and NFX. I read these boards and enjoy the on the ground construction info and the oilers technical chat.I do not look here for opinions on future share prices as this is futile and if other people do they are reckless.I am an ex investment adviser and do understand CF’s point if investors have invested here either without professional advice or on ‘advice’ from a forum,especially those who have overinvested .On a wider subject investment should be a long term exercise and those wanting a quick return deserve their disappointment if this doesn’t happen .Too many seem to need company RNS daily to feed their appetite for greed.Patience is the name of the game and if the underlying assets of the company are attractive then waiting for these to be monetised should prove fruitful.Mistakes are inevitable and maybe for me SXX is one but the huge polyhalite asset is attractive to someone if we are unable to finance it ourselves and they won’t wait for an administrator to sell it in my opinion.

Dadean ,you need a lesson in both history and economics......quickly

In order to get this project going at the very beginning CF had to commit everything he had otherwise it wouldn’t have got off the ground.Later investors had the choice of very many companies,or funds,in which to invest

Sitting with a beer overlooking the Aegean Sea on Rhodes,I have been pondering on the permissions from the Park to allow SSX to mine.If SXX falls into administration it seems to me that the current permission will lapse and the administrator will not be able to sell it on.Thus the whole project fails.Hence my belief that if SXX cannot find adequate funding anyone interested in the assets will have to make a bid for the existing company.Now that would be interesting!

SXX is totally unlike those other companies you mention ! It has massive assets and will not be loss making when the mine gets built.Cash is the only problem and someone will come to the rescue because its a huge profit earner for a buyer with cash

You seem to think that CF can buck the markets ? Even Mrs T said that it wasn't possible !!

You are too pessimistic.There is zero chance of SXX going bust as potential buyers of the assets,mainly the polyhalite,will buy the company before that happens and my assessment is that the price will be much higher than 4p

A brief look at Govt website suggests that corporation tax will be payable by a non UK company on its UK activities.A mine in the UK is definitely a UK activity and I cant see how profits can be exported to another jurisdiction.Maybe losses can be brought in from elsewhere ,as per Starbucks,but cant think of how