Member Info for Longtermview24

Sod Fraser. Don't let him walk in to the arms of AAL at our expense. There is another way if they look. But their blinded by AALs thirty pieces of silver. ****s every last one of the senior execs.

I hope some third party or II or Polygon keep this mine out of the clutches of AAL we move forward (with heavy dilution) and we all turn up at the AGM and sack Fraser and the other greedy barstewards.

Totally agree. This stinks. Fraser has a nice safety net in the form of employment with AAL, and 19M quid to divi up between the senior execs (who also all stay on at AAL). The rest of his are hung out to dry. It stinks. He's a grade A turd.

To say that historical data suggests no PI appetite for a raise is absolute balls. Many PI's have had to sell out to salvage something and are sitting on cash that most would plough back in to a raise if they could see a path to production when the share would be a multiple of what it is now and would recoup most losses. PI's still holding would also dig deep with the knowledge that it is the only way to save their investment. To quote historical data and relate it to the unprecedent situation before us is disingenuous at best. There is plenty of PI money ready to be reinvested.

The BOD are complicit in robbing us blind. I'm not saying this started out as intentional theft but once Fraser could see a rescue by his AAL buddies and job continuity he had a path to mitigate the disaster he created for himself at the expense of the rest of us. That's what stinks and that's why he's a turd and I hope we are rescued despite him and then we can sack him at the next AGM. He's a ****.

If the sale to AAL does go through I wish him bad karma for the rest of his days.

Absolutely disgusting that they can accept such payments. Shows their true colours. I hope karma bites them on the arse.

The staff should get f-all and Fraser should f-off. He's ruined so many lives, even if this gets rescued, many have already sold and taken the hit. He should carry this shame and burden to his grave. If he keeps his job with AAL it would be beyond criminal.

I hope you're right wwguk!

“So, Scotman, you're still up Frasers arse.“
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Lmao, perhaps I just have a tad more decorum about me than you have.

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Decorum - behavior in keeping with good taste and propriety.

Certainly wouldn't say Fraser is acting with any decorum, cosying up to AAL to save is arse/salary/bonus.

There's no room for nicety when we're being robbed blind by AAL

Nice to see Jupiter piping up

https://www.thisismoney.co.uk/money/markets/article-7958615/amp/Sirius-Minerals-investors-urges-company-alternative-rescue-deal-collapses.html

I hope other II's are bending Frasers ear.

And I hope Sharesoc can exert some pressure at the meeting.

Keep emailing IR. The more pressure and the more vote NOs will make the BOD work harder for an alternative. I'm sure Fraser and Scrimshaw don't want their shares to be worthless anymore than we do.

So, Scotman, you're still up Frasers arse. Seems blindingly obvious there is a conflict here. Fraser has ballsed up the financing, but he still has a chance to redeem himself. One way to do so would be to get rid of Staley who always looked like a schoolboy out of his depth rather than a CFO.

Somebody needs to run the company. Fraser would have a chance to make his pitch at an AGM. There would need to be a better alternative, no sense in firing him otherwise. And he did say he wouldn't be sticking around forever.

wwguk….I think the 28 days runs from the formal offer submitted on 19 Jan, not the "maybe" offer/bombshell that dropped on 8 Jan (followed quickly by the financial consortium revising their offer on 9 Jan that was first submitted in Dec - can one assume that the 9 Jan offer improved the terms of the Dec offer on the heals of the AAL offer - looks like the consortium are keen but not getting as warm a reception as Frasers AAL Aussie mates. Makes you wonder)

Doesn't make it impossible does it Scotman.

And are you inferring that Fraser et al are now biased and conflicted as they are guaranteed ongoing employment salary and bonus with AAL and are worried they might be turfed out by sholders if the company continues under its own steam. Surely that would be not just morally corrupt but criminal. But I don't disagree that Fraser et al are more interested in feathering their own nest and care less about sholders interests.

Do you think they realistically expect to squeeze higher TO offer from AAL?

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I hope not Yuri. No sholder wants a TO. We want financing to allow us true LTH's to hold this till production, at which point most, if not all LTH's will recoup their investment and some.

Well well well. Have Jupiter thrown us a lifeline. Certainly puts the cat amongst the pigeons. They have a lot of votes.....and so do Polygon.

It's never over till its over. PI's need to exert maximum pressure on the BOD. EVERYONE should be emailing Investor Relations, demanding that the financial consortium offer is pursued alongwith a fundraise, even a temporary fundraise to keep the lights on for the next few months.

AAL are stealing this asset. It will be throwing off cash many times the purchase price every year for 100 years. Construction is well underway and there have been no snags with progress. Even AAL have acknowledged that there are no big risks with construction and that they are bagging a tier 1 asset.

For goodness sake Fraser wake up, get out of bed with your Aussie mates, grow a pair and get the money raised.

I would sooner see a Chinese investor come and steal the lot now from under THEIR noses and leave them in the situation that we are in. That is, skint and pi55ed off. I think I would be happier letting them have my shares knowing that payback had occurred. Bit childish but it’s how it's made me feel.

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I know how you feel. I'd rather see the hole filled in so that the BOD and senior execs don't continue to benefit. It was my hard earned - yes I participated in the fundraises - that got us this far. I've helped create the mine and the jobs. None of the workers will help recoup my investment so sod them, they can fill the hole in and everyone can find another job.

Pictsloup, I see you''ve sold up, so perhaps it is you that should grow up and move on, ****

How fast can a “book build” be put together? Heard of them but don’t know technicals behind them.

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The prep, if motivated could be done in several days and a book build, with strong demand, can last a number of hours or days. In other words, it could be done if the BOD (with strong input from JPM) weren't so negative

But it didn't need to be an emergency had it been attempted several weeks ago.

Anyway, you come across as a bit of a smart arse Devon, who has come late to this board seemingly to rub holders noses in it, so I'll not b engaging any further.

Regarding an escrow, you're talking balls Devonplay. You obviously don't understand the concept.

As for "they don't think"....well you don't know till you try and we're in the last chance saloon - they're "assumption" based on previous raises that happened in totally different circumstances, doesn't cut it for me. Perhaps its too late and this is academic, bit it wasn't too late in Nov or Dec. The BOD have sold holders down the river. I don't care what anyone says, they have not bust a gut to protect/maximise sholder value. They're happy to fall into the arms of AAL,0 keep their jobs, bonuses and future share options. They shouldn't be allowed to work at AAL. Its blood money and its a conflict and it stinks.

As I say, if, as looks likely, this is the end for holders I hope in Yorks they NEVER forgive and NEVER forget when it comes to Fraser and others.

Agreed wwguk. The way the financial consortium offer and AAL were managed fecking stinks.

Bellers - that's the stand out wording for me - …...we assumed from historical figures that........

Assumed...didn't bother their arses trying. Not good enough. Bunch of shysters. Fraser should be hung out to dry.

They had enough time to organize fundraise and the money could've been put in to escrow, to be returned if the entire amount wasn't raised, just like with the last bonds. IMO there is still enough time and it's not that expensive and there is a reasonable chance it would succeed, given that PI's know this is the only way to keep their sholding.

It stinks.

I still maintain that if Fraser wasn't falling into the arms of his Aussie mates, he would be trying a little harder.

For every job the mine will create he has ruined a multiple number of sholders. If he fails to raise the money, he should go down with the ship. He should donate his holding to charity and eff off back to Oz. If he doesn't, I hope the good people of Yorks never forgive and never forget.