Member Info for Minesinthemine

It’s defo making my 18.25p sell and hope to buy back in at a lower price more Muppet of Sirius St. I am still hoping that either: a) I get given my requested OO excess to purchase at 15p or. b) the release of shares on the 23rd gives me an opp to buy at lower than my sell out to recover my potential boo boo Either way whilst disappointed to lose the rise, I’m still very pleased that there appears to be some buys coming in, hopefully new major investors. We already have Norge, but some more would be nice.

Not if you sold at 18.25 doh! Oh well.....

You need to do it from the website not the App unfortunately.

They will go in whichever account you put the funds in to take up the OO. If you are taking up the OO on shares in your ISA and are already fully subscribed you have two options. 1. Sell shares in ISA now/before deadline so you have funds in the ISA to take up the OO 2. Take up the OO but make a note on the comments that you want the share to be placed in your standard trading account and add comments as per the instructions on the HL OO. If your shares are currently not in your ISA and you are not fully subscribed to ISA this tax year I expect you can do something similar and put the cash/add funds for the OO into your HL ISA and then add in the comments you want the shares placed in your ISA. You always would have the option to bed and ISA in the future subject to ISA limits but will be liable for any CGT when you move the shares into your ISA.

I can only go off HL, but I have done exactly what you have done and the OO shares would land in the ISA. Specifically on HL it states that if you want the OO to be in your normal share account to add this in the comments section.

I managed to shift £2,500 in my wife’s ISA@18.61p so she can take up the near 17,000 shares in the OO for her. So apart from the shambles of my 18.25p sell(Doh!) at least the SP is moving up again. I am not going to apologise for it, but I would like a sub 18p price at the end of the month so I can save face from my poor trade hence don’t mind a little rally.... however do feel somewhat foolish having ‘never’ traded on any of the other downs over the past few years and having always held.

Oh well it’s off and running now...... still hoping of getting back in and not losing out too much at the end of the month. So based on today’s deal I am the Muppet of Sirius St but hopefully at the end of the month and beyond I’ll have another buying in opportunity to lose the status. I might even get a surprise that I they grant me some excess on the OO....but that is highly unlikely.

Cheers Roobans. I’ve got too high an average for an LTH as I bought through all the rises pre stage 1 and other rises over the last few years and am sitting on a hefty loss, a large chunk of which I’ve just crystallised. I have some more cash available at the end of the month to grow my holding and will take a view then. And as like you I do still believe in the venture for the long term, but given both St1, st2 and the risk of construction at this scale I am now a little more cautious and definitely more realistic in my expectations both in terms to time to a decent return and what that return will be. For me this is twice bitten, thrice shy. Just hope this time I’ve not bitten myself. Fingers crossed for everyone and good luck to all who have put in excess for the OO.

My ‘gamble’ is that there will be many 15p shares on the market with people are happy to take a 10% profit. Hence hoping I can get back in around 17p at the end of the month when the shares ‘post vote’ materialise. Every other hope I have had with this share has failed to materialise so I don’t know why this will be any different but do think that between May and Sept, until the bond raise is completed there isn’t really a rerate coming. All the above is all based on my hope/gut and reading of the situation and it’s a risk that I am comfortable with. I still hold ~500k shares and have put a request to buy 452k at 15p under the OO from the ISA I have just sold from. Highly doubt that will happen, but if you don’t ask you don’t get..... Like I say, if it all goes wrong I recognise i’ll be the muppet of Sirius St, but hoping to gain a few % more shares overall.

Just think of your ISA as a bucket. You can add funds to it each year, but any trading you do happens within the bucket. If you are already fully subscribed in your ISA this year and are not planning to sell ANY ISA holdings to fund the open offer then you can still take up the offer but the share holding would be outside your ISA and subject to any associated capital gains taxes or future income tax (dividend last permitting!!). In short your ISA protects you from all tax and as long as you keep all dealings within your ISA there are no limits.

Right. I’ve sold the shares from my ISA (371k at 18.25p). Big gamble. I will be back in and still hold ~500k shares. I’ll subscribe for the 15p OO and also request excess and will hope o can get back in at under 18.25p which if I ignore dealing charges mean I need a buy of 18.16p to break even /cover stamp hence anything below that means I will have increased my holding. Not quite Wolf of a Wall Street but sincerely hoping I don’t end up Muppet of Sirius St.

Edit. Sodding fat fingers. It was 170k at 18.16p NOT 18.6p otherwise the deal button would have been pressed.

Yes when I was hovering I got quotes for all 370k st 18.125p but max was 170k at 18.6p. This was about 20 mins ago. However now can barely get a quote for 100 shares, let alone thousands. I expect all the traders are at lunch now :) let’s hope they have a liquid one and press a few wrong buttons that see us at 19s! I may even put a limit sell on, but my experience of these on HL are that they weren’t executed when expected and I executed them manually at a higher sell price than the sell price I actually requested. Very odd given that I expect them to be software/auto driven. Anyway, i’m off work today so will keep playing around, but still not sure I have the balls to press the button and expect come the 23rd I’ll back in hindsight trading mode for a few hours.

I disagree. Progress has definitely been made:- Planning has been successful, Contracts have been signed, infrastructure and equipment have been put in place, staff recruited etc..... but we’ve barely scratched the surface on the overall project. Having the finance in place is not the same as having an operational mine. There is a balance of on time / on budget projects such as Swiss tunnels, and recent UK example of overrun such as Crossrail. This is a MAJOR construction project with all the associated risks. I am not deramping, this mine needs to be successful not just for me, but all the PIs,the NE and the UK in general. But what I am saying is ‘if’ St2 is addressed by September we still have a mine to build. Without a flow of good news and progress relating to the mine and good management of unexpected issues that will undoubtedly arise on such a large project I don’t believe there will be a significant rerate of the SP within the next 12mths. I expect the first will be when we are circa 50% built without hitting a major issue or requirement for additional funding, the next when we hit first POLY4. Then when we are operating at 10mtpa and so on as we grow the capacity. This is a high risk LTH share with hopefully some good dividends in the long term. For many PIs we can’t/don’t want to realise a paper loss hence need to be hopeful of the company hitting plans both financial and construction, but from history of both SXX funding and other major construction projects it is far from done.

I’m still very nervous about the st2 funding. I think it is too much to say this won’t fail because of JPMC’s reputation and therefore bonds are a done deal. If st2 bond raise fails there will be no lack of suitors to pick up the company for peanuts and to make a lot more money than simply providing some funding. I just hope financing progresses as planned and we get some VERY clear milestones and frequent communication relating to the build to try and stabilise/improve the SP. Even with financing done without constant build progress updates and no significant setbacks/unexpected build issues this will continue to drift for a couple of years. I sincerely hope not given my holding, but the finance is not done. We better have some good weather again through the summer, as there will be very little light coming from SXX until September and even then I don’t expect a significant SP rerate until we have actually made ‘significant’ build progress.

I haven’t been in SXX as long as many of you, and joined the ride just after planning but still feel somewhat aggrieved. Even after the Stage 1 funding, I always thought that we’d find a way. I bought all the way through all the rises and didn’t sell on the way down. As such I am sitting on a significant £XXXk paper loss. As such I have been grieving for the last week, not for the money as I’m fortunate I don’t need immediate access, but for the loss of early retirement that a better funded SXX could have provided. Unless I settle for a massive loss I’ll be tied up in this for 3-5 yrs before I have a chance(please) to get out with what I put in, basically 3-8 years money tied up without a return and thus pushing retirement back. I may have been naive but like others have mentioned I do feel somewhat cheated by the BoD/confidence on stage2 financing and also by ‘potential’ leaks e.g. Capital’s sell off. Similar to Fred, I’m not going to sell for a loss as if we get the mine built without too much more investment needed the company will be successful and I may get some small reward and would feel even more aggrieved if I sold out and subsequently saw SXX flourish. I however will not be taking up my Open Offer allocation, the company has had enough of my money. For now I need to take some comfort that I ‘currently’ have 50% of something rather than 100% of nothing, and I fear that would have been the case without the current deal and may still be if the bonds aren’t sorted. Remember no bonds no RCF. This is not over yet and whilst a lot of people including CF are implying that the bonds raise is likely on track e.g JPMC reputation etc.... I now know to take rumour and in particular anything CF says with a real pinch of salt. I’m also not got to stop feeling somewhat seduced by the BoD into thinking that a decent stage 2 deal was in the offing, or that the city boys look after each other and stuff the PIs. I thought I knew the risks when I invested and I am blaming nobody but myself for my loss but it is currently a very expensive lesson to show me what a dirty place the market is with very little regard for private investors when it comes to companies with no revenue. Other posters with much more experience know this already and is why they are both less surprised or aggrieved and manage a much better balanced portfolio. I guess I also have to give some credit to CF that the mine does appear that it will get built and in the future it would be great if there was a way to get some info on how close we came to going pop, or being taken over. Equally did we ever come close to getting a great finance deal. To summarise, if you were an existing PI/LTH the deal doesn’t seem good, if you are entering before September there is still risk around the bonds and if you are entering after September (assuming a successful bond

I’m with HL and this happened last time for me. I loaded the funds ready in my trading account and they bought the shares from that. The following year with the new ISA allowance I moved them to my ISA. (Bed and ISA).

I think all us PIs are feeling pretty blue. But I don’t expect the close to be. This has got several weeks to settle down. All PIs shafted, let’s hope the mine gets shafted too without any more ‘extra’ help required.

It just gets worse. As I wrote last night many many many years just to break even. Still lots of construction risk and all the potential extra finance reqs/dilution that comes with it. I repeat again anyone that thinks this was a good deal for existing investors just doesn’t understand the numbers. Jonesrichard/Fred16 I am gutted. I have been both excited and naive about this project in equal measure. You can’t call the posts deramps any longer, it’s fact. I have two things that are positive: 1. The project is good for the UK in general, jobs future tax etc... 2. This government deserves ZERO credit. Gave no assistance. I expect it was this deal or bust. At least you all still have something and will hopefully have a little something in 5 years. After another Big Dipper, the rollercoaster is over. It is now a long long flat train journey for many many years but at least we are on a track.

I assumed you were an ‘OldhamBoy’, The Old Bell in Delph. 1000 Gins, Guinness World Record Holder It’s a drink we’d definitely have earned after the last few years on this.