Member Info for mrJimV

Yes it would make it messy if he had to call on shareholders , Scotman he will get the money I am with the others who say he will get it , A lot of planning has been going on to get this money even from day one on working out stage1 , the whole process is going to be down to Torps and they will get them that is why everyone he got he put an RNS out.

LTC/Spreadsheet Phil will only care about himself ,
I don`t think I would sell if he had a £500mill dilution say at 28p and he said he would do a buy back when in production because he wouldn`t have to find the money to pay that part of the loan and interest , but I dont think he will need to and will get the funding he needs but of course you have to look into these things ,

LTC / To be frank with you I know stage1 was very heavy dilution and excepted that simple fact the size of the company ,but to add more there will be a lot of folk not happy and may even sell because there would be to many in issue and a lot would start to worry about consolidation etc , so most excepted what CF had to do on stage 1 but at the same time he said he would do stage2 with debt ,so most are trusting his word on that .

I can see why Andy and Alan say SXX are 100% sure SXX will get funded 100% for stage 2 , one thing the company will have meet all the TORP agreements the banks and Govt said they needed to get the $3bill funding , the Govt is 100% want this company to get started , They say the North Easts GDP will grow by 20% with SXX in production , this was said on National news , so I to say they will get the $3bill all debt , A lot of highly paid jobs will be starting Hundred and Hundreds so $3bill is not that much the size of the company when you have all seen £41bill was handed out to save RBS , so £2 -£2.5 bill is not massive as some would think .

Knockin / Nope not 100% but he will do everything possible to get 100% debt , he admits more torps are needed but he said in a few RNS`s back 3 main torps are nearly finalised so I say he is waiting on those ,he will get the stage2 but of course nothing in the world is 100% thats why it isn`t priced in the SP yet .we are all hoping ,

This is what CF said last month .

https://www.sharesmagazine.co.uk/article/crunch-time-for-sirius-minerals-as-it-tries-to-secure-3bn

This share needs some sentiment and get the SP up thats 10p drop in very short time , i thought you oilly boys know how to ramp the share a bit , I can understand where `ifonly1 is coming from , if you are not producing you have to sweet talk the SP up with some sentiment if you think it is good and when you do get news it goes up more , you don`t want it hanging around 50p before FOIL then when you get FOIL it only goes up 25p or so ,

Lloyds still top buyer though the SP hasn`t moved a while , maybe a good thing as they are doing a 7.2bill share buy back ,won`t be long before that takes off , SXX however is really getting on the radar with investors one of the most watched shares with HL , which is one of the bigger brokers , also will join the FSTE100 soon enough . certainly with the amount of money they will be bringing in .

chitting / I hold both though i like sxx a lot and know will perform amazing figures when they go into production as for Llloyds they will start to do ok when PPI stops next year , they are having a massive buy back at the moment and profits should be very big next year hoping for a better Divi as well next year.

verde/ Of course it makes a lot of difference , the less shares the better the SP , even in 5 years

Looking / You right stage 2 isn`t in the bag but we are waiting on Torps news first , my bet is we get news on Torps this week or next and Stage 2 September , then 100% debt , thats my take on it .

escargot / Trouble is with HUR at the moment there aren`t enough trades for an ii to buy a massive amount other than wait for the MM`s to build his order , time is very close to a lot of good news so most are holding onto their shares , only way to do it is pull the price down and trigger stop losses etc by the mm`s , 2.38p was quite a hit yesterday for a short period considering no RNS etc . , hopefully it may make a buyer be forced to pay more and start pushing the price up , I do see the SP turning for the better now .

Alan / You are quite right CF did say only last month that he would do stage 2 finance with Debt but if he couldn`t raise the whole £3bill he would have to go to the shareholders , but he doesn`t seem to think he will have a problem raising the cash he needs , once again it all depends on TORP`s but they should be well in the target , infact I only mentioned it a few days ago they will meet the targets for the banks but I think they will go past that and hit their maximum target near 10million tonnes for the year certainly very close.

Mandrill / I think you should have taken the low yesterday , the MM`s are filling an order and pulled the price right down to grab any shares they could infact they pulled the priced down 2.38p yesterday for no reason other than scaring a few or triggering stop losses , the order may have to pay a much higher price ,

They are going to pull this right down to fill another big order , hold on to your under pants

johnpwh / blimey that is very cheap , we have 3 nursing homes near where I live and they are £1700 a week one is £2100 a week and if they need extra medical the price goes up , infact they tell you the average cost is £100,000 a year , so a grand a month is not bad , but you can do a cruise ship for £3.000 a month lol

We still have 3 more Torps to come through via RNS this is what the banks will be waiting for ,Torps are the key to Debt without dilution for stage 2 financing , IMO

KOH / We are all hoping lol ,

KOH / OK this is what CF said last month ,

Aside from successfully building the mine infrastructure, one of the biggest tests for investors is the ability for Sirius to secure stage 2 financing and that’s something on the schedule for later this year.

The FTSE 250 miner needs to raise up to $3bn which it hopes to secure entirely through debt. Commitment letters and proposals from banks have started to appear although Sirius’ June target to have everything in place has been missed.

Chief executive Chris Fraser says the only point at which Sirius would need to tap shareholders for more cash via issuing new shares would be if it couldn’t get the full $3bn in debt.

PLAN OF ACTION

The company intends to have binding commitment letters by the end of September. At this point it hopes to get support from the Infrastructure and Projects Authority (IPA) to cover any shortfall. This is a UK scheme offering a government-backed guarantee to help infrastructure projects access debt finance.

Sirius has already been pre-approved for IPA backing. ‘The IPA is the last piece of the jigsaw puzzle,’ says Fraser. ‘It only comes, if it comes, once they’ve seen the bank process.’

The UK guarantee scheme would see Sirius raise the necessary funds by issuing corporate bonds with a government guarantee attached, reducing the risk for bond investors to that of a gilt. The interest rate would match that agreed with the banking syndicate and the government would take the difference between the gilt and the coupon rate.

1st September 2016 is what the company has said about financing stage 1 and stage 2