Member Info for Longtermview24

IBAB He lives a stones throw from woodsmith. You need to do more research.

You’re missing the point IBAB. If AAL complete the mine the aim will be impossible to complete because the investors in SXX will have crystallised their loss.

Tex, it was a risky project before planning; before stage 1 raise; before the IPA qualification; before the crop trial results and before the 13 MTA TORPS with the likes of ADM, Wilmer and Cibra.

I’d say it was less risky now. There’s always a risk of construction cost overruns but even then there is a healthy contingency in the budget.

Risk, yes. High risk and speculative, no.

I disagree IBAB. This is a special case. This is a community investing in a community project of significant national importance in terms of its green credentials and potential contribution to GDP.

Many people are invested for the benefit of their community and to secure a future for future generations. They are not sophisticated investors. There is a great deal of sentiment that can be leveraged to arrive at a positive outcome if the new Yorkshireman in number 11 decides to protect his own.

I don’t care what his next job is so long as it’s not at Woodsmith. Cos that’ll mean AAL have been kicked into touch and he’ll have got the boot from SXX

I don’t really think your a mole but you must be a wind up merchant if you’re attempting to defend Fraser in any form or fashion.

It won’t be old news if the shareholders are wiped out. It’ll be big news, very big news. Don’t kid yourself. This is a long way from over.

I think you’re underestimating the good folk of Yorkshire. They have long memories.

Tex we know the company is watching this board (instead of looking for finance). Are you one of them?

Fraser well networked. Not well enough to raise finance, his alleged specialty.

He should stick to being a bouncer. That’s more his level of competence and pay grade after this monumental **** up.

IBAB stop it. Nobody knows what will happen after a no vote. Admin is one outcome. An QIA loan is another. A government loan is yet another. The government sorted out Flybe recently at the last minute didn’t they.

Are the government going to throw 85000 pi’s, a great many residing in their new northern heartland, to the wolves?

Let’s see.

The BOD are underestimating a pi base that they’ve taken for granted for too long. If we survive, a coup is coming and Fraser and the other shysters better have their suitcase at the ready. Elvis won’t be the only one leaving the building.

So today the company have issued an RNS throwing the towel in early on the financial consortium

Then they start making phone calls

Then there are news articles cropping up on the BBC about administration - https://www.bbc.com/news/uk-england-york-north-yorkshire-51508481 - I don't think these are new comments just a regurgitation of old comments.

They're busy, but not busy trying to raise money to save shareholder. Seems like they're running scared of admin. Are they on a big bonus to deliver this to AAL on a plate? An even bigger bonus than the jobs19 million bonus and no doubt a ton of AAL shares?

If the vote is NO - and I hope it is - there is NO WAY the government can let this fail. The new Chancellor is a local lad, They have promised to invest in infrastructure and they have promised to invest in the north. They owe a lot to the northern constituencies that brought them to power. 85,000 investors plus friends and family is potentially hundreds of thousands of votes. The government cant let this fail. It would be election suicide.

VOTE NO and lets scupper whatever backroom deals have gone on between Sirius, AAL and JPM

Let's turn the tables here. A no vote is risky but this is too big to let it sink.

VOTE NO , SACK THE BOARD, START AFRESH

Is this legal? Are they trying to lean on holders? First the RNS saying they/ve thrown the towel in two weeks early, then the phone calls start?

They're really leaving no stone unturned - not in the interests of shareholders but for AAL.

Robbery turns to daylight robbery in plain sight.

We're on our own here and the deck keeps getting stacked against us, but while there's a chance the big boys could lose the lot, there's still a chance for them to save the lot.

Maybe the mere threat of vote no will see some movement from one of the big boys.

We were told we pre-qualified for this guarantee/assistance. That was a big deal for me and, I'm sure, many others. We were told that this scheme was available to infrastructure projects that couldn't get finance in the open market on commercial terms. That seems to be exactly the position we find ourselves in.

So what happened? When did we "un-qualify" and should that have been disclosed and clearly explained in an RNS?

This has never been properly explained. I guess it can keep for the class action that will follow if this falls into the hands of AAL.

archways you make a good point. it would be good for as many pi's as possible to convert at least one share into paper form for the vote. not sure if there is time, but that would certainly make the 50% hurdle tricky for AAL/SXX

Does anyone know hoe long it takes to get a nominee account to give a paper certificate?

Utter balls IBAB. Are you now on multiple payrolls, including SXX, or are you just a sad wind up merchant? Don't bother answering, it matters not. to me.

IBAB - you're splitting hairs, it was the company who told them they couldnt find an anchor which cratered the discussion. Why tell now, why aren't they still looking for an anchor? Its a stitch up

so why were the bonds trading well below par before the AAL offer.? the bonds are not secured. the only one with security is gina. That's how the very rich stay very rich. smart girl.

dazaliam,,, with all due respect, the bod haven't confirmed or denied the story in the Standard. In the event of a no vote, QIA - and maybe others - wont let this fail IMO.

The BOD "officially state" what suits them, and recently it's only been half the story.

Wasn't there supposed to be an internal enquiry into that episode. I wonder how that's going. Why don't the company invite the man with the dog to a line up. Should be fairly easy to pick out the big mouth. Can blurt out what you like in the pub, but cant talk to shareholders with the financial whzz kids from JPM as chaperone.

Says it all really.

James 89 - according to Evening Standard QIA stepped aside when AAL came on the scene with their offer. If the offer is voted down, it's reasonable to assume they'll be back. If not, their bonds (in the hundreds of millions of dollars) and their shares (30 odd million quid) are worth nothing.

Interesting that there are still two and a half weeks to go yet the BOD put out todays announcement. Bit premature is it not? If they were actually looking for an II anchor as they say, then why not keep looking for the next two weeks? If they were serious about trying to save this for investors surely they would be busting a gut right up till the stroke of midnight?

Makes you wonder how hard they've been trying, if they've even been trying at all since their ex-Fortescue colleagues came along.

So has everyone at Sirius HQ booked the next two weeks off on holiday? Is that why they've made the announcement today?

What a load of balls.

Or is it the case that they are reading this board and getting spooked at the prospect of a no vote because it upsets their cosy arrangement?

I hope they are reading this board, in which case get off your lazy arses and keep looking. According to my calendar we're not yet at March 3rd/

I hope they do pull the offer, then QIA wont have any toes to step on and can come back in and the bridging loan/financing reported by the Evening Standard can be given a proper airing

"I tend to agree with you John my niggling feeling is that until this aal offer I believed in CF !
I know we don’t know what CF and the bod have been offered going forward but this deal is so bad that I do worry that they genuinely feel this is the only way. I know that goes against the rhetoric here but that’s how I feel.

If this really could be a quid a share even 50 p would he really give up on that given the volume of shares he has. ???? "
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It can't be £1 or even 50p a share now. No matter what route is taken it would be equivalent to a massive dilution. 20p a share in 5 years time would be more realistic and that maybe helps explain his desire to get into bed with AAL. He gets his 5.5p a share right now and a share of the 19 mill blood money and an unknown number of millions for basically a non job with AAL as a payment for destroying SXX.

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JazzyJim I have the same thought as you. I think Fraser has done the sums and figured that getting into bed with his Aussie chums will allow him to deliver this project and he will be handsomely rewarded by AAL in doing so and this will more than make up for any perceived loss he takes on his current shareholding (and the seven million quid he walks away with now is a nice little cherry on top of his cake).

There's also 19 million pieces of silver - and jobs - for all the other senior execs.

And shareholders are supposed to be happy with 5.5p.

Stinks.

It's not on.