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Excellent initiative! I hope you get a great turnout. Can someone promote it on the shareholder facebook page (Serious Minerals?)

Somebody should also organize a demonstration outside Sirius HQ in Scarborough. You should put that on tonights agenda,

TF - you say" I do think the issue here is not about Fraser-more about the quality of the financial advice."

But the problem I and many others have is that Frasers background is finance. He wasn't part of the Fortescue team like Scrimshaw and Catlow, he was part of the Citibank finance team that put the funding together for Fortescue. He wasn't bringing any mining or infrastructure/construction experience to Sirius. He was bringing his finance acumen and contacts - or at least that's what I and many others thought.

So the problem is Fraser and it is Frasers to own. With his background and experience, how he ended up being let down a dark alley where it looks like we might all get mugged, is hard to comprehend.

HE created the problem and he's only made it worse by his cowrdly behavior and blame everyone but himself attitude in the last six months and not even an apology.

Tex, I agree with your 9.19. Odey is not our friend. Another penny on his 93M shares is meaningful for him (and at a 5p entry point is an additional 20% return in a matter of days/weeks) but a 1p increase does little for me and other PI's at this stage.

BUT Odey might assist with a no vote and then the stakes are raised. Does the "interloper" appear as Odey suggests and will that interloper force the price up or, instead, provide funding?

Odey likely had his original 93M CFD on a margin at a fraction of the value of the shares, but yesterday he swapped the CFD for shares, meaning he's now in this for 19M hard cash. While we know he would jump at 7p but a rescue would suit him better than 7p because funding ought to give a more meaningful boost to the SP in the coming months.

I don't particularly care for his firms general MO, but he has put 19M money where his mouth is and has said he'll vote no to 5.5p, so he's also banking on something positive happening after a no vote and before administration is triggered and he has staked a lot more than any of us on the idea that a no vote is not necessarily the end of the matter, as Fraser would have us believe.

And it’s not about risking everything for an extra 10 or 20 %. It’s about trying to find an alternative to the takeover. A fundraise not a takeover. Step forward QIA or kiss those $100 million bonds goodbye.

The fundraise is in its very early stages. It has already proved there’s an appetite. If just 1500 can pledge almost 20m imagine what could be achieved had Sirius approached the pi base when there were 85000 of us.

As for government bailout. Nobody is looking for a bailout. No cash was changing hands. They were seeking a guarantee. But you probably know that and are being deliberately provocative and misleading.

Not much truth in your factory

Tex,

I'm not asking the Times to print it. And I'm aware that my analysis is an over simplification - I acknowledged that there aren't even 85k Pi's anymore. So I agree it's ridiculous to say PI's could raise 1 billion quid ($1.3bn).

But we don't need 1.3Bn, we need 600M and I'm fairly sure PI's wouldn't need to raise all of that. It could be raised in consort with II's.. Sirius have access to the shareholder list and could've contacted all PI's to run the same kind of survey that a small handful of Pi's are trying to do on a shoestring.

But they never bothered their arze, Why is that? Instead they arrogantly proclaimed there was no appetite in their expert opinion. Surely they should've tried when the alternative, we're told, is 5.5p or administration.

That's why people are livid at Fraser et al. Quite rightly so - and he still doesn't get it, blaming Brexit, fertilizer market, general markets (which seem to be booming by the way) and people on internet chatrooms in sweatpants. Uou couldn't make it up. The arrogance of the man.

1448 surveyed average pledge 12,645 = 18.3M quid

Just imagine if the BOD had pitched this to PI's when there were still 85,000 of us. That could've raised over a billion quid at 12645 a head

And there's no PI appetite according to JPM and Fraser.

Pull the other one

Liam, you should speak to the shareholders action group - see www.fundsirius.com for contact details

17.5M - over $25M - from just 1400 surveyed. With 85,000 PI's (albeit less now) you can see the potential to raise the money from the PI community if SXX had bothered to ask us. If you extrapolate these numbers from just 14,000 PI's we could raise $250M.

Sirius would/could have been able to reach all 85,000 shareholders more quickly and easily than the shareholder group. It's impressive what a very small group of 5 or 6 people have done in a very short space of time.

Fraser should be hanging his head in shame.

2sugars - hope this helps
A shareholder helpline is available for Sirius Shareholders. If Sirius Shareholders have any questions about the Scheme Document, the Court Meeting or the General Meeting, or how to complete the Forms of Proxy or to appoint a proxy online or electronically through the CREST electronic proxy appointment service, they can call the shareholder helpline at Link Asset Services on 0371 664 0321

Thanks Eureka. With $40 M in equity invested that’s still a lot to lose

Eureka that would be 75% of the $400M worth of 8.5% bonds would it? So they're in for $300M bonds (plus $40 in shares). And the Evening Standard ran a story that they were prepared to bailout SXX with funding.

And we're expected to believe that in the event of a NO vote Qatar will sit back and allow this to go into administration when AAL will pick it up for even less than 5.5p (that's what Bucky used to bang on about as a certainty under "pre-pack administration) and QIA will end up with NOTHING.

Seems implausible to me that QIA wont step up to save their $340 million investment in the event of a NO vote. Another $600M is still small change to these guys.

Geez Scotman, one moment you're calling for his head the next minute your feeling sorry for poor old Chris. A lot has changed in the last 10 years, in fact in the last ten weeks. While I have no doubt that for the most part Fraser was well intentioned, he has well and truly blotted his copybook since last summer's fundraise fiasco and has well and truly burnt bridges since December/Jan when AAL were forced into the spotlight following the takeover announcement in the pub. His treatment of PI's since the infamous outburst in the Daily Mail has been nothing sort of despicable.

Odey out of the blocks early today. They've exchanged their CFD's for actual shares, so no doubt about their voting rights. They're not messing around. Not happy that they'll settle for 7p, but if they can assist with a NO vote that's the first order of business. Then lets see what happens next.

AAL also publishing ads in newspapers today apparently (Daily Mail for one). I haven't seen it but if this is true it shows what we're up against. The giant AAL is trying to shove this down our throat, spending money on newspaper ads, bribing the local community with 4 million quid, sweetening the pot with Fraser and his cronies with 19 million quid.

On the other side the NO campaign hasn't got or spent a penny. Just word of mouth.

This is David versus Goliath.

The locals really need to make sure every single local shareholder casts their vote. They can cast in how they like but if I was local I wouldn't want Cutafani and his shower anywhere near my community. He'll railroad over the lot of you like he's doing to us. Their behaviour, phone calls and all, is just a taster of what's to come.

This ought to be illegal. Armed with this info, you could make a killing either going long or short on the sp How can this be allowed. If this is a flavor of how AAL operate God help the local workers and community if they takeover the mine.

Every NO vote counts. Contact your broker and register your vote. This behavior from AAL and the BOD is disgusting

and we're giving it away. How the heck could the ex-banker not raise the funds?
Shameful

Hold 40% of the Bonds. Last two days they've purchase 73 million shares. With their bond position they're probaby in favour of the takeover. Are they buying up shares- over 1% - to vote in favour to protect their bonds.

Every vote counts to defeat this daylight robbery of a takeover.

Polygon were quiet yesterday and Odey only added 500,000 in todays RNS. I'm sure they have their eye on Oasis.

With a million pound salary for the past number of years, I think his family will have a lot more food on their table than many PI's regardless of whether he gets to cash in another seven million or not. No sympathy from me and the sentiment of your first post still resonates. The fact that he's gone bald is in the genes nothing to do with making a balls of the financing - Elton can vouch for that.

RF perhaps I misinterpreted the sentiment behind your initial post and read something in to it that wasn't there. Passions are running high right now, probably because the stakes are high. I certainly don't think or mean to igive the impression that a rescue will come along, just that it might. Fraser is making everything black and white and I think, especially with Odey and Polygon in the mix, it's at best a shade of grey. Fraser keeps digging deeper and deeper and he is really winding me up - and a good many others it seems.

The article in the Evening Standard gives me hope and also mentions that once AAL turned up QIA stepped aside (knowing that their bonds are safe in the event f an AAL takeover). If that's why QIA haven't stepped up, and AAL are kicked in to touch with a no vote, then its logical to think QIA may return