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I'd wait until around the two quid mark, where they were just a few years back. Seems little doubt now IMO they will shutter Woodsmith. S Africa mine shut down 80 days, poos diamond sales, trouble in Brazil - it's not looking good for Cutefanny.

Hi Buster, I think Corona killed off any hope of a white knight. On the plus side our 5.5p will go a lot further after the stock market rout settles down. 450p for AAL, about a quarter of their recent high, might be a tempting price. That would be like swapping SXX for AAL at 22p at the recent high. Still not sure I want to invest in these Aussie scumbags though. There'll be plenty of other value out there when tings settle down, particularly in the travel/airline sector

Trinityman, if the nominee account voting system wasn't so cumbersome and opaque AND if the meeting had been held in York, as with all the AGM's, then the NO vote may have prevailed. The odds were stacked against at every turn. Quite what would've happened next, we'll never know...…..

Sixthgeneration, I would urge you to send any info you have to the fundsirius folk. I'm not sure they've thrown in the towel just yet.

All these major holding notifications, with hundreds of millions of shares changing hands between hedge funds....makes you question the integrity and morality of all concerned. I'm not privy to how this stuff works but Fraser, with his Citibank background, should certainly have gone into this with his eyes open. I really don't know how he can sleep at night having done what he has done over the years to suck so many in to this abject failure.

I hope there's a smoking gun somewhere and the truth about what went on and when AAL became involved comes out. Nobody should be allowed to do what he has done and walk away with continuing employment and seven million quid in the bank.

Exactly Steve. AAL have been a bit naïve if they think the locals wont make life difficult and throw the odd spanner in the works. Diamondman I'll give you the benefit of the doubt in that you don't really understand how this project evolved. It's unique and sometimes a corporation needs to understand the local mentality as well as the business they are operating.

i'm out too.

Failure and scumshaw can rot in hell.

Not really. The income will be recognized now meaning, at best, there'll be a reduction in income later. Also if they cannot operate the cruise they'll be legally obliged to give a full refund, not a credit.

And it's not just China. Italy is on lockdown, France numbers are escalating, cruise ships stuck off the coast of the US, in Egypt, Carribean to mention a few hotspots. Who wants to take the risk of being stuck on a boat with infected passengers and no way to get off. Not an appealing way to spend your holiday. And you think bookings wont be affected DC?

From Annual Report 26 Feb 2020 -

Fiscal Year 2020 Coronavirus Risk
In response to the ongoing coronavirus outbreak, China has implemented travel restrictions. As a result, we have suspended cruise operations from Chinese ports between January 25th and February 4th, canceling nine cruises. We also expect that travel restrictions will result in cancellations from Chinese fly-cruise guests booked on cruises embarking in ports outside China. We estimate that this will impact our financial performance by $0.03 to $0.04 per share. If the travel restrictions in China continue until the end of February, we estimate that this will further impact our financial performance by an additional $0.05 to $0.06 per share. Five percent of our capacity was scheduled to be deployed in China in fiscal year 2020. If these travel restrictions continue for an extended period of time, they could have a material impact on our financial performance.

But if you want commentary from the company, read the notes to the latest annual report about coronavirus, written in feb, where they say that coronavirus could have a "material impact" on revenue. At that point they were envisaging things opening up again in March. That aint happening.

DC, do you know today is Tuesday. Some things are as obvious as the nose on your face.

Sirius Minerals buyer Anglo American no longer ‘top pick’ as RBC warns takeover, coronavirus will dent cashflow
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Nice to hear. My 5.5p buy in is getting closer all the time.

Just because Asia is recovering means nothing for Europe and Australia. They lag by weeks/months. UK is predicting a peak in summer. Still a long way off. The cruise industry and travel industry as a whole will be paralyzed for weeks months to come and then there'll be a further lag before bookings pick up.

Lots of discounts and incentives to get people back on board will affect the bottom line well in to FY 2021. We're a long way from the bottom here.

DantheMan, reap what you sew. You were spamming SXX board with your gloating hindsight shyte. I hope the markets continue to tank and AAL mines collapse around them. I hope AAL lose enough money that they shutter Woodsmith for years. Greedy bar stewards. Fraser is a liability. He's a lead weight that'll drag you down. Good. Well deserved. If this goes back to two quid where it was not long ago, I'm in. Happy to have my SXX remnants in cash at the minute. Another 7% market drop tomorrow and 10% in AAL will be great news.

It's down 8% today and now at 16 quid, last I looked it was over 20 quid. They've had to suspend operations at on eof their facilities for 80days. The karma is only just beginning. Long may their run of bad luck continue.

Nice to see operations shutting down. Hope to read more of this . Hope the shaft floods and the tunnel collapses at Sirius. Your CEO is a **** and deserves every bad bit of luck going. If your share price hits 5.5p I might buy a few

Tex, do me a favour with the accuracy claptrap. There is an air of transparency and independence to the process, but everyone knows what goes on in these remuneration committees.

Fraser was awarded most of these shares when the company was on AIM and most in the very early days, when there was even less scrutiny. I don't think SXX had a remuneration committee, nor where they required to, back then.

Sal, the point you overlook with the turd Fraser is that he awarded himself all those shares at little or no cost. He didn't put his hand in his pocket for any of the most recent 20p and 15 fund raises. So he didn't lose his own hard earned, like the rest of us. Big difference. In fact, quite the opposite, he still collects seven million quid for free. I hope he chokes on it. ****

Not surprising but disgusting. May they all rot in hell.

You may be right but I hope you’re wrong. I hope scores are settled with Fraser and the other Aussies thieving conniving bar stewards in the coming days weeks months and even years. I hope the acquifiers flood the shafts and the Chinese and Arabs default on their agreements. I hope the tunnel caves in. I hope AAL suffer similar difficulties in their coal mines and diamond mines and those shafts cave in too. I don’t wish for any fatalities but I do wish their business fails. Feck the jobs. With a bit of luck Fraser’s bad karma and bad judgement will bring them down.

Excellent posts Trinityman. I never thought the risk was financing, based on the statements made by the company that you’ve highlighted. I was prepared for cost overruns and delays on construction, that might shave a bit off the capital appreciation and/or delay it., but not for financial failure, not with the IPA and Fraser’s finance background.

This has certainly been misrepresented and mismanaged by Fraser for some considerable time, but he kept not just PIs but IIs and sovereign wealth funds in the dark.

He’s a turd and I hope this haunts him in one form or fashion until his dying day and I hope the good people of Yorkshire treat him like the leper he truly is for as long s he dare show his face locally.