Member Info for Longtermview24

Balls (load of) not buds.

Let me know when they’re at 5.5p and I’m in.

Really? I hadn’t noticed. On a discussion board about the company we’re not allowed to discuss the CEO.

So now he’s suppressing free speech on here as well as putting bogus Q&A pieces in the press and AAL taking out paid for advertising in the national press - all designed to swing a yes vote.

Dirty tactics. We’re up against a wall of obstacles. I really hope they get what they deserve on the third.

and the half year report was prepared before the strategic review was completed, following which there was a slowdown in operations to preserve cash, which is why, I recall, they have sufficient to see them through end of April

On my calendar there are 28 days between 3rd and 31st March. You're suggesting that nothing can be achieved in four weeks. Qatar could fund this in about four minutes, if they wanted to.

Wholeheartedly agree Pianista

I recall funds were available to meet costs through end of April. The vote is on 3rd March. There is time to put plan b in place, not much time, but there is time.

To a raise at 10p most sensible investors would’ve said, I don’t like it but I understand it. Now I’ll make a smaller profit and have a smaller dividend but at least I’ll still make a profit and receive a dividend.

What were being offered is a long way from that.

But if AAL pick this up at the expense of shareholders they will not ever have an easy ride. Disgruntled shareholders will attempt to sabotage and object to the build at every turn.

AAL have significantly underestimated local sentiment imo. They could’ve picked up a majority stake and kept the required debt off their bookS, and had a passive investment that someone else could’ve run, where they could’ve exited their investment with much greater flexibility by selling shares over a long period of time ( they probably could’ve sold enough on the rise post funding to be in for about a third of the company for free).

But instead the greedy bastards want the whole lot and to stiff us all.

Let’s see what happens next. I think they may have been a tad too greedy.

I agree with your post/assessment Truthfactory

Tex, I’m fairly sure the Qataris could find someone to run it. If not directly, through the regular recruitment channels. I pointed out recently that their massive infrastructure project they’ve been undertaking to host World Cup 2024 probably sees them well placed to find someone to run the Sirius build. I’m sure there are many qualified candidates that would be more than capable and would make themselves available for this undertaking.

Tex, according to the Evening Standard, QIA have already floated the idea of a bridging loan. Rounding error or not their $140M investment is significant and not something I think they would want to write off. You can make the counter argument that funding of $600M is also a rounding error for those guys. They could turn that rounding error into several BILLION on production. Several Billion is not a rounding error for anyone.

Calamari, because after two more years of construction the higher risk elements will be completed, close to 2 billion would be in the ground in equity, and the resource will have been accessed, meaning some income.

So raising debt to fund the remining 2 billion for lower risk construction - either above ground construction or fit out of tunnels and shafts - ought to be straightforward. The risk profile will be lower because of the type of construction and because the company will be producing and also because the banks will have far greater security in terms of the construction progress and the amount put into the ground ie Loan to Value (LTV) just like the mortgage on your house.

Pwh - I don't see a no vote as throwing money (what little there is left) away. Quite the opposite. I see a yes vote as throwing away any remaining opportunity to recoup the losses by keeping the company in current hands thereby participating in the upside that will result from delivering the project.

I also see the likelihood of a rescue post a no vote as possible, though appreciate it comes with risk of administration. I'm not sure the institutions heavily invested in this - bonds and shares - will let this fall into administration.

I think the www.fundsirius.com counter will continue to tick upwards. Hopefully that'll give one of the II's the comfort and confidence to step forward with a temporary funding solution that will give time for a more permanent solution to be worked out - with replacing Fraser and some of his cronies forming part of the solution, as well as funding.

Following the Strategic review, we're told we need roughly $600M to see us through the next two years. We had $400M in the bank - fully subscribed convertible bonds - that was returned, given back. We had it in our hand and gave it back (didn't give back the open offer money though did they). How come Fraser couldn't persuade those people to put their $400M back in - the terms (conversion price) would have been a lot better for them after the crash?

Surely some of them would still be interested, meaning some of the $600m is already there.

It doesn't add up. Something is fishy about the entire sequence of events since last summer.

AAL, under a takeover scenario, will never be welcome in the community. If this happens - and there is still a chance to stop it - then there will be a class action and most likely also a police investigation. I wonder what the chances are of Fraser and Staley, the Aussies, ending up with a record just like their forefathers and an extended stay in Yorkshire, not in a barn conversion but in HMP Full Sutton?

I agree Scott.

Fraser knows the only way to save himself is to push through the takeover. It’s a game of winner takes all now.

Vote NO and IMO there’ll be a rescue and the shareholders will be able to turf Fraser out on his ear and keep their investment (with dilution).

A yes vote and Fraser keeps his job, bonuses and we’re out on our ear with a pittance

Bellers, it’s a bit chicken and egg. It won’t come to market unless the pledges are there to make this a realistic undertaking. Perhaps you could have another crack at your mates. Every little helps, as the saying goes.

From yesterday's Guardian -

Robert Goodwill MP, who also owns shares in Sirius, is urging fellow shareholders to follow his example and accept Anglo’s offer, swallow their losses, but ensure the mine still goes ahead.
“They’ve spent £1.1bn so it’s not just something that might happen: there’s a big hole in the ground. The tunnelling is happening, and Chinese, Indian and American customers are signing agreements for millions of tonnes,” he said. “People need to realise that there is no Plan B.
-------------

I hope locals remember this and vote this turd out at the next election. He's not representing his constituents best interests. Unless he has inside knowledge (illegal) how can he say there is no plan B. He's just a mouthpiece for Fraser and we know he is, at best, conflicted by the prospect of continuing to earn millions with AAL.

Disgraceful.

Vote NO and send a message to Goodwill that he is on borrowed time.

CORRECTION

Almost 30 MILLION, - THIRTY MILLION QUID !!!!!!!!!!!!!!!!!!!!!!!!! that's $42 MILLION DOLLARS- what a tremendous effort!!!!

Hopefully there'll be coverage in the papers over the weekend. This is on the cusp of going viral!!!!!!!!!!!!!!!!

Everyone should forward www.fundsirius.com to their friends and family, post it on Twitter, Facebook

Let's get it done and kick Fraser and his cronies into touch!!!!!!!!!!!!!!!!

www.fundsirius.com

Almost 20M million raised so far in less than a week from just over 1500 investors!!!!!!!!

We're not done yet! But imagine what could've been achieved if the BoD hadn't ignored PI's and had asked us a few months ago. that makes me very very angry.