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Now the mood on the board has settled I wonder if an argument for private ownership could be supported here. I wonder how the moaners, the short-termists, the get rich quick brigade et al would feel if the board offered, say, a 15p a share get out now offer prior to a de-listing. Of course, those with longer-term views, the dividend seekers, would want full disclosure as to how the shafts and remaining infrastructure were to be financed. In addition, full information with regard to any future strategic partner involvement would need to be detailed as well as any date for returning to a PLC. Thus we would be able to do our own due diligence. Now that would be an interesting RNS. Indeed, I would welcome such an RNS.
Thanks, Old Rascal, and for those who were prepared to offer violence towards CF give your own head a shake; and to those who will never trust another Aussie - shame on you. Even in these testing times let us keep our dignity and move forward together.
I have read the Mail article several times now and I know we are all feeling bruised, worried and extremely concerned. But I feel there is too much panic and negative emotion about to think rationally. This is what CF is quoted as saying: ‘Where we are now, I think we might be better off being a private company, because sentiment, short-sellers and all those sort of features are just massively distorting the value of the company.’…. ‘Being public served a very valuable role in the early phase.
‘I intentionally chose the strategy of putting it into a UK publicly-listed vehicle to have complete transparency about who we were, what we were doing, when we were doing things and being very, very open.
As we see it today, there’s potential merit in being private simply to get away from the capital markets.’
….. ‘‘Am I frustrated that the Government hasn’t supported us in the various forms that we asked them for? Of course I am.’…..
‘The capital markets are failing development. Their fundamental role is to provide risk capital to enable growth to take place economically.’
‘Long-term capital just really doesn’t exist any more. Big institutions will define long-term now as three years, and that’s ridiculous because you can’t build anything in three years of significance.
And so it essentially means that you see capital provision having to go through another filter, which is that only big companies are allowed to do big projects.’….
Not too bad in isolation - is it markedly different from considering all options over the next six months!!
I could not agree more Fred. It is the only share I have ever had an emotional attachment to. I live within an hour of the site and to drive past that hive of activity and knowing you are playing your part in bringing something so transformational to the region is wonderful. Yes, it is difficult at present, but we did not buy into a dream, we bought into a business where the numbers did, do, and should still stack up to make it a worthwhile investment for those who have the patience to wait for good capital growth and excellent dividend yields. I hate to see such short-term views on here; the get rich quick, the fleeting 'investor'. We are still firmly at the beginning of the beginning.
Just been watching a squirrel out the back. Pondering life and investments (me, not the squirrel) when said squirrel leaped from one tree to another. Only this leap was a fail, and the squirrel fell quite some way to the lower branches, before regaining composure and then climbing high again. Never seen a squirrel fail before. Now, not too long ago this board was full of talk of shorters not getting it wrong, we should take heed of their actions and so on. One retort that I so admired was a quick one-liner - "even monkeys fall from trees." I would like to add to that with my friend, Squirrel Whitebox. Even squirrels fall from trees.
Scotsman - spot on. The North East is the nation 's only net exporter. It will be hit the hardest by Brexit (in any shape). The Northern Powerhouse has been demonstrated, it can be real and now needs investment to maintain its relevance. Therefore, I do believe that this government will have a part to play, and soon. IPA, loan guarantee, both? Whatever I believe it will be of mutual benefit and I am fine with that.
Cherokee - I know you are only reporting what you have heard, a rumour, but I just cannot see the company spending time on this matter when they are looking to safeguard shareholder value. I know safeguard is not the right word, I just cannot, atm, recall the exact term the RNS used when withdrawing the bond offer.
I do recall the panic and rumours that spread around one business I was employed. All the premises of the organisation, a private educational establishment in the country, were to be sold. In the week of the rumour three members of staff secured other employment. The source of the rumour was backtracked to a cleaner who had read some notes from a bin. The notes were from a meeting with a marketing company to "sell the business, the wonderful premises." The point of the story is simple - trust your own judgement.
GLA
I could not agree more Vin. Your post reminded me of one of my dad's sayings: "When everyone expects you to pull a rabbit out of a hat - pull a hair out of your @rse" - never understood that as a bairn. But as an adult I always prepare myself for the unexpected. I still think CF is keeping his tweezers handy and for the benefit of all stakeholders. GLA
Good2behere - good post. I think the ability to think positive is lost on so many. I do not know if it is a society thing or just because people have money at stake. I am down - on paper - a significant amount. Can I afford to lose it? Well, if realised, I will have to change my spending and perhaps even look to increase my income. But being negative is not going to change anything. I do not have good health so cannot spin that out but I do have a wonderful wife and family. I sleep well. I never look to blame anyone else and believe in the honesty and integrity of people. It has served me well. I read through the posts on here and see the solutions carefully considered and posted by fellow posters and it helps to lift the spirits. Many of them I would not have thought of yet sound so plausible. Like yesterdays discussion on asking NYM for permission to road haul extra tonnage and self-finance. If we, as a collective, are coming up with these suggestions can we assume that those closest to the action, the workers, managers, contractors, advisors, financiers would not also be having an input? That being the case surely two weeks of the six-month window is surely far too short a time to be so negative. Shareholders ignore the noise, resist the urge for other people's negativity to reinforce your own. Consider why you invested here in the first place and then think exactly what has changed. I am not offering any advice here other than to ask existing holders to consider all facts, openly, and not to be swayed by the constant negativity that is present atm.
GLA
doubleheadedcoin and foxhound
I couldn't agree more with your posts. Yes if you look at your balances and see the minus 82% it is alarming but we knew all along this was not going to be a walk in the park. I strongly believe this comes down to whether you feel CF and BoD are up to the job. And I believe in them, I have done from the start. Yes I have invested in Sirius but I have known all along that meant I had to believe in the Sirius people. And I have never had any reason to doubt their efforts or integrity. One week in and all this doom and gloom, the hate and angst. I bought more today - did not expect to, think it was more bloodymindedness against all the trolls here.
yes, with their shorts open it does make us laugh - as a few posters have commented on the vile creatures who have turned up to mock those who are very concerned - perhaps it is something to do with the size of their manhood.
Keep the faith
PerArduaAdAstra
Quite, and when even pointed out people still cannot see it. Yet it is these people who feel betrayed.
Illbetabuck
"Which is interesting but all the evidence suggests that holding here has never been a successful strategy."
You the guy who gave me literacy advice and financial advice yesterday - but what about those who bought many years ago at around these prices, skimmed and now hold. Bought us a really nice car, settled the mortgage and set us up nicely for a happy retirement. I bet a buck you are a complete a se!
When I read the RNS the other day the first thing that sprang to mind was, crikey this is going to tank, and secondly (as we had to wait for the 8.00 am opening) this BB is going to be rubbish for weeks now. Personal, angry, blaming, spiteful. It just highlights that there are so many nasty people out there who enjoy the hurt felt by others. This time though I have been able to take a different view on things and skim straight past the vitriol into the many posts of mutual support for one another. The deep concern for Forex, the hope that JonesRichard remains so upbeat, that the wives and husbands stand by our financial decisions and so on. That has made thousands of posts worth reading and strengthened my resolve to hold onto my shares and to still believe in the genuine posters on here. I strongly believe we will reach our destination and I hope we all enjoy our journey, even though the road is a little bumpier than we had hoped.
illbetabuck
Thanks for your financial literary advice - but I choose to use that language as it is correct. As for offering financial advice you do not need to offer that. However, I do appreciate your kind consideration.
Ffc, well said, I too am sitting on an 80+% unrealised loss atm and the only person to blame for that is me. Like Fred I too have become emotionally attached to the company, you cannot help it when you drive past the site on the way to Whitby. S boro for the day or see the hope it brings to my region. I want to be part of the story. I wanted my granddaughter to invest too so she grew with the company - and I see her unrealised paper loss and I feel, well I do not know actually. Guilt, ashamed, embarrassed. But I explained the risks, and those risks still stand and so does the hope and expectation that this will be a great success for those of us who still believe in the leadership and acumen of the BoD. I do. I believe in the decency of the human soul and that people are honest in their words and endeavours. We are not being played, shafted, crikey the emotive language, the management is simply responding to circumstances and aim to get the best deal for us all.
''"Buying shares in any company whether they are FTSE 100 or aim listed is just like walking down to the bookies and putting everything on Frankie Dettori in the DERBY. It might look like a winner but strange things happen along the way. Good luck to all those who are waiting for good news and I mean that most sincerely".
A silly analogy for all the reasons already attested by others but I would also add that it is possible to employ quite detailed statistical analysis and backtesting on horseracing (and I believe football) to attain a decent return on investment. However, once you start to win regularly or the bookmakers identify strange patterns in betting they limit your account to, say, £10 maximum stakes. Bookmakers only wish to deal with losers.
Hagbard Celine, love your writing style. Any coincidence your moniker is an anagram of Bighead Lancer? Seems apt.
Chrisatbirdies sorry not predictive text - stupidity, re my previous message
Hi Christabirdies - Molly here!
Aye, that predictive text is a nuisance. Yes, that is where my head started hurting trying to estimate an angle and reverse the formula to calculate the length but the mind is willing but the brain is weak!