Member Info for Longtermview24

Today’s announcement provides a clear path to a fully funded project in the months ahead - Chris Fraser 2019.

No mention of , “as always take independent financial advice “ (and don’t believe a word I say).

And he wonders why we’ve lost trust and belief. And all he does is cry to the papers about bb’s and people wanting to vote no to punish him and his team.

What a pathetic turd.

it would be great if you could organize that locally scott. time is ticking and we need all the coverage we can

Staley was out of his depth, He always looked and sounded like a schoolboy rather than a cfo, Fraser, with his background at Citi fancied himself as a financial guru and it suited him to have any empty suit/yes man in the cfo chair. Staley played the roll to a tee. The schoolboy probably needs a chaperone to get him to the office and back each day. Hopefully he'll be next seen boarding an aircraft back to Oz with a one way ticket and one of those badges round his neck that they give kids traveling alone.

andy follow up and make sure they acknowledge and register your vote, Barclays sound like a bit of a shambles. EVERY NO VOTE COUNTS

also visit www,fundsirius.com and take the survey - and spread the word!!!!!

strength in numbers

Love to see someone gather up numbers for a picket outside HQ. the Yorkshire post needs to listen to local shareholders and not just be a mouthpiece for Frasers spin and lies

I think a picket outside HQ offices in Scarborough is a great idea. Thousands should attend. That would get the attention of the press, the government, and could help spread the word for www.fundsirius.com

Somebody local want to start the ball rolling?

If it falls into administration they will get it for a more derisory price.
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Franalex,,.... the key word in your sentence is IF...……

Equally IF an alternative solution involving funding is secured then AAL are kicked in to touch and shareholders will recover their losses in time (and Fraser and Staley will be shown the door- added bonus)

great post closettrader

And we have never been told why the IPA guarantee was withdrawn, That surely should've been announced. I felt very secure in the knowledge that the project "pre-qualified". The guarantee exists to provide a guarantee for projects that cant otherwise get funding at commercial rates on the open market without the assistance, Surely the position we're in describes that exact situation we now find ourselves in.

We've been lied to.

Gert I pressed the send button in error - look at my second post. I've asked for the first post to be removed

As posted earlier today by another poster. Valirx PLC shareholders voted against their board today ....resulting in 41.5% drop in share price so far today . Not a great confidence booster is it? Imo
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Westcountry VAL is apples and oranges to SXX. Its a drug company running clinical trials. The vote today was to raise more funding that was blocked. Drug companies, like oil companies, is very speculative. You burn through the money, the trial results are negative then money down the toilet.

Here we have the resource and the sales to back it up. We just need the money to access the resource. Unlike VAL, shareholders in SXX would gladly take dilution in exchange for funding, But we're being sold - down the river. Fraser is pulling out all the stops today - press articles and the phone calls continue. If only they'd put the same effort into engaging with shareholders to try to raise the money instead of excluding them and now trying to intimidate them.

Deplorable behavior.

That article from Fraser in the local press. What an absolute snake - "as always I urge shareholders to ensure they take proper financial advice before deciding what to do" . I don't ever recall him uttering those words, certainly not before the last 15p raise 9when AAL were already sniffing around0. Has anyone ever heard him say that just once, ever, let alone "always". What a snake. As for blaming Brexit I recall - and it's in an official release maybe the annual accounts - that he specifically stated that Brexit had no influence at all on the business.

Not sure how the current fertilser market has any influence when we're a number of years away from production and we have TORPS secured for 13mta for that take us through most of the early years.

He's making it up as he goes along.

I note he doesn't mention the cushy number he and the other senior execs have negotiated for themselves at AAL nor that he Scrimshaw and the AAL folk go back a long way, to their Fortescue days.

He'd be devastated for the employees but just disappointed for shareholders. Fraser, there'd be no employees if it wasn't for our hard earned.

I didn't think he could go lower in my estimation, but after reading that claptrap, he just did.

What a turd.

VOTE NO

Well chilting if he was the ONLY voice of reason you best be off too. Nobody left to listen to.

Cafekris You could’ve sold for 5,5p on many occasions since the offer was tabled. The only way there’ll be a different offer is a no vote

Cafekris some may vote no out of spite and may feel good doing so having been left with pennies to play with. But that’s far from the only reason to vote no. There’s already been one leak about QIA considering a rescue with funding (not a takeover). A no vote may force a rescue. It may lead to administration. You pay your money and you take your chance. Let’s see if any more leaks appear

I’m banking on a rescue as there are some that stand to loose big time on bonds if this sinks. 5.5p doesn’t give me any chance to see the upside. A no vote might.

So Pelham still selling down. Polygon added another 20 million now 9.25% and Oasis, a large bondholder, buying 6M shares.

Positions are being formed up, but in which camp?

Gist is AAL are offering another 4million quid to the local community fund if the deal goes through. Talk about bribery. They are despicable.

Westcountry - if its a yes vote (there are actually two yes votes required) then its game over, the end, goodnight, here's your 5.5p - then watch as AAL and Fraser make a killing in the years to come. He'll end up with more 20 quid AAL shares than you can wave a stick at for delivering this to them on a plate for a song on top of a handsome salary

Taco....QIA are saved, mostly, by the AAL bid - they have more bonds than shares. That's why, as mentioned in the Evening Standard, they stepped aside when AAL came along. But a NO vote and AAL is a non starter and that means QIA's bond exposure is back in play and that is why they may, even if reluctant to do so, step in. That will come with heavy dilution, but a small piece of the business at production is significantly better result than 5.5p now

the offer cannot be withdrawn, it's locked in. the offer can, however, be rejected. that's what the vote is for. the price drop might be designed by some larger holders to influence the vote. lots of dodgy behavior in this share. remember the AAL takeover bid was first announced not in an rns but in the pub to a barmaid.....and the price spiked as the insiders piled in.

new BOD with more control and less leaks required.

Companies facing admin are usually trading companies with cashflow issues because expense outweighs income because of a changing market/flawed business model, uncompetitive or outdated product and so on. The SXX business - post construction - has a wall of cash - BILLIONS of dollars - of income. The SXX business model doesn't need a turnaround as is the case in most administration situations. You know full well the point I am making.

Tacotaco and Bobster - ordinarily your take would make perfect sense, But there are some large holders, particularly bondholders (QIA), who have the means to save the company by a fresh injection of cash. And it's undeniable that a fresh injection of cash - in the form of equity or bonds or both - will cause a significant uplift in share price, which would allow said rescuer to sell part of their investment to de-risk and hold a significant stake in this project for minimal outlay.

We also have a couple of hedge funds that are controlling enough votes to sway the vote one way or the other.

The circumstances here are quite unique. Let's see how this plays out.

Companies facing admin are typically businesses that have a broken or outdated business model. The underlying model here, with torps in hand and 100+ years of resource, is sound. The problem is funding. Let's see if QIA want to kiss goodbye to the hundreds of millions they've invested or whether they'll top up their investment and save themselves and, by association, the rest of us.