fwiw......a Rhine barge left Kehl on 11/8....the 'Houtland' it dropped cargo at Antwerp yesterday very close to the location where the 'Dance' which arrives in Teesport this evening, was berthed.......the timings match up.
Other than that, a barge called Lissane (formerly Panta Rhei) left Kehl yesterday for an private destination.....its track shows it heading up the Rhine towards the coast.
RHB....as a community on this board we worked together to track down that the 'Salve' was the Rhine barge that took the TBM from Kehl to Rotterdam to where it was transferred to the 'Eems carrier' for its trip to Teesside.......I gather that you may not have read the board (13th Feb onwards I think?)
woolverstone....."Does this mean that the Government would have to guarantee the bonds or does the guarantee relate to something else"
It means that you unlike many other new names, have started to do some research........glad to help to a degree but you must visit the Sirius minerals webite and update yourself on at least one presentation from late last year ('presentation archive') and probably the three presentations from this year to get a handle on how the funding changed....
Roobans......the devil is in the detail......I've just re-read the RNS again.....obviously we have no idea as to which item(s) on the list were added to effectively push the 5% threshold.
I re-read because the 'convertible bond' listing just doesn't sit right.......as I say, the devil is in the detail....and the listing does not say convertible bond.....it says 'exchangeable bond'.........now, this is an area I am not remotely familiar with so no explanation will be in the offing.......however should nyone wish to have their brain wrung like a sponge.....read this
Roobans...."Another convertible dated 10 days before for 0.4% - Could the date be a typo? Not sure why there is a difference in the date as no other convertibles were offered at that time..."
The 23rd May is spot on fro the stage 2 bonds.....I'm thinking the same as you on the 13th May being a typo......and that this lot of convertibles relates to original stg1 convertibles that they agreed to roll over to stg2.....was looking to see if there was a disparity in the end date.....but a quick search says no........so go with typo.
The rest is stock, stock on loan and equity swaps......so interest in 350m stock.....just over, literally just over 5%
Given the acknowledgement on social media yesterday that the hedframe for the MTS shaft was going in "at pace"......the following link gives the technical detail for the MTS shaft sinking.
All systems go....Woodsmith Phase 11 works comprise:
•Development of landscape mitigation screening;•
•Sinking of the MTS shaft via drill and blast method;
•Operation of the Galloway;
•Creation of a materials handling area;
•Installation of external silencer to the dust collector of the Service Shaft building;
•Installation of batteries.
The construction method statement can be found in section 3.1.........
......which is down on page 59 of 150 in "supporting information 1"
"One full cycle, or round, equates toapproximately 3.6m advance..........It is expected that two rounds will be achieved every 3 working days."
On this basis....sinking from -115m to -350m at the requisite 2.4m/day should take approx 100 days......after which cavern excavation can begin for the TBM.
"The process starts withDrilling from the Bench. Once the bench is drilled the jumbos are removed and the explosives are lowered for loading. When the explosives have been loaded the Galloway will be retreated a nominal 30m up the shaft away from the bench, the crew will then retreat to surface to initiate the round. Once the shaft is verified as being safe, the crew will return to the Galloway. The Mechanical Excavatorswill be lowered into place, the buckets delivered to the bench, filled and hoisted back to the headframe for tipping onto the materials bunker. This is repeated until ground support is required, which will be installed followed by lining and services.
Drilling will be completed by four Jumbos. All four will be drilling consecutively to develop the stage.
Blasting will be carried on a grid pattern across the floor of the shaft excavation by qualified blasters in accordance with all relevant regulations and licences."
Page 66...... Figure 6 –MTS Shaft Headframe & Winder House 3D Model
Some really good detail and well worth a read.....(for the 5%)!!
Zen1...thanks for the link to the Alex Cunningham MP letter.......
I cannot emphasise enough that actions like this can make a difference and could have been sparked by a constituent. As Peasholmbod points out he takes the view
"that if one does nothing then that's the best one can expect !".....and I agree wholeheartedly.....
...So, maybe others who would normally sit on the fence or those that spend their time & efforts pouring scorn and taking the typical "it will never work attitude"....maybe just for once, instead of doing nothing and decrying a situation or those do act, could for once become proactive themselves?
As an absolute minimum, it makes your own MP aware of a project of National Significance and if you are insistent, they are obliged to write to the relevant department on your behalf..........and the more pressure that is brought, then the more likely a positive outcome, if and when a supportive intervention may be required.
Sadly, as a population, Britain has lost so much of the can do attitude......anyone who is a pioneer or does something innovative and different, is often given a myriad of reasons why it won't happen.......I've had 30 years of it....and I know full well it can be so, so different......we're supposed to be 'Great' Britains........and not the 'grate'.....we have become.....go on....make it happen!!
I gather that the tunnel is going really well.....given that the target is 3km by year end.....that doesn't necessarily mean much, however I think it prudent that we are patient. Obviously the first part of the drive is nearer surface and in a more urban environment than it will be beyond the initial 3km and that of drives 2&3 which will be rural and 350m sub surface. With this in mind, obviously there are sensitivities and I'm sure that we will find out just how well 'well' is, when appropriate!!
ffc...thanks....will bear that in mind.....seed species good for the rucksack.....whole plants and cuttings don't travel well.....mind saying that the groundsman from Seaton Park in Aberdeen who provided flowering raspberry species meant us getting back on the train with what looked like signals packs!!
I see from the photo in todays tweet that you must have put in a request for an update??
Look closely....lots to see.....cladding on the Service shaft permanent winder........rope winders all in place for the temp building and super structure complete.....progress on the MTS shaft looks almost ready for the hevy lifiting to take place!! and in the background......the production shaft capping all complete and the long arm extractor reaching deep.......and the production winder building looks like it could be ready before the shaft dug out!!
Posted a few days ago, still relevant?
"To think that a company that had raised $1.2bn at stage 1 (before any ground had been broken), then $825m so far at stage2 (after massive progress), would be unable to raise the additonal $500m via bonds or otherwise, to access the RCF, in my opinion, beggars belief.
Although the intention is very much to re-visit the bond route in a few weeks, there remains little doubt in my mind that contingencies for this $500m are currently in place and further options being explored and developed. There is already much riding on this from existing high profile parties to just let it fail (all in my opinion of course).
The first paragraph underlines my belief that the project will continue, the second recognises that should the bond route not be re-visited successfully, then there could be further dilution in some capacity.
I believe that the market has very quickly priced in a worst case scenario and the effect on the sp we have seen this week very much reflects that....but as always, the possibility/probability of an answer inbetween.
Once again however, there is uncertainty......uncertainty breeds fear and fear attracts those who know how to manipulate and feed off it....our friendly & helpful community has been inundated with new names of all sorts of agendas in recent weeks but especially last....and we've had repetitive & persistent reincarnations of the bashers.
The tardiness of getting Stg2 over the line & the persistent bashing has born heavily on the share price and it is those of us who have been most loyal who, on paper, may shoulder the biggest losses and some with neither the will nor ability to commit further. As such, there can be no words of comfort.
There is however a perspective.
Firstly....what do you believe the answer is to the first paragraph? Is $500m a step too far?
Secondly.....if the answer to the first paragraph is a belief the $500m will emerge, then the second question, is in what form and how will that effect the short term.....and ultimately what effect on the long term.......?
Ask 100 people and you'll get 200 answers.
Lots of raw emotiveness and feelings on show this week? Lots of names new and old sticking the knife in and playing on fear while purporting to not have a vested interest......really......just take a perspective on that too...vultures hyenas hoping that that if they harry enough there will be a carcass to pick over.
..but in the background and continuing apace the build goes on and in my opinion will....
.....I have been and will be pilloried for what I will say next. When this project completes, the reward whatever way, will be far in excess of anything anybody put in......rounds of dilution may well have brought the end price in the late 20's from several pounds a share to a few pounds a share and still possibly a little less........but whatever this figure, it will be far beyond 20p & 15p of stg 1 & 2.......but the bigger picture
and for the record
"The Company directors believe that a premium listing will support the long-term strategy of the Company by providing the Company with a more appropriate platform for its growth and is in keeping with the nationally significant nature of the Company's North Yorkshire polyhalite project and its market capitalisation, which as of the date of this announcement is in excess of £700 million. In addition, the Company directors believe that Admission will raise the Company's global profile, increase its trading liquidity and provide the Company with a greater range of potential investors for its ordinary shares."
"Further to the announcements previously made by Sirius Minerals Plc (the "Company") on 28 March 2017 and on 25 April 2017 the Company is pleased to confirm that, effective 8.00 am today, its entire ordinary share capital, will be admitted to the premium listing segment of the Official List of the UK Listing Authority (the "Official List") and to trading on London Stock Exchange plc's main market ("Main Market") for listed securities (together, "Admission") and trading in the Company's shares on the AIM market of London Stock Exchange plc ("AIM") will be cancelled."
and for the more superficial amongst us who are here for the quick buck......the longer view
From a couple of months back.....
"Technically, because it has yet to make money, Sirius shouldn't be in a FTSE index. But the London Stock Exchange made an exception because 'we are a UK project with national significance', Fraser says.
The move to the main market was crucial as US investors refused to invest if the firm remained on AIM, which he says is 'seen as the home of spivs and rip-offs'."
Trinity.....Mrs M & I just back from enjoying a couple of (relaxing?) days in London.....have we missed anything?.....
Cranleigh.....enjoy your stay in france.....lets hope your omen is right ;-)
Crikey nearly 600 posts today....wow.....now, given the title.......I think I can gather what has been talked about today....not Russian Trolls per chance?
Too many of those types getting over confident and rather complacent.......muddy boots leave messy footprints.....!!
As for London.....definitely recommend visiting the gardens at Hampton Court Palace.....(old Northumberland boy & hero of mine Lancelot ‘Capability’ Brown...was head gardener there for a time you know).....and of course we couldn't miss a visit to the Crossrail roof garden in that busy place opposite Poplar. Far better two of us walking up and down the wharfs with our "Support Sirius" sandwich boards than one.....and should that have not worked....at least we can use them to hit the Russian Trolls over the head......
wwguk....just me thinking out loud.......these thoughts were originally meant as a potential additional consideration for future issue in relation to the RCF, beyond the initial bonds..
..I truly believe that a project of such national significance will pique the interest of far more than the sceptics and naysayers would give it credit for, if done in the right way......and as such.....why not give the public the option of being/owning part of something great.....with the option of either a coupon......or a dividend.
Lets face it a fully funded route to getting the stuff out of the ground that the naysayers said would never work, to fulfill all those contracts that the naysayers told us we would never get....with payback...makes an attractive proposition?
I appreciate that a structured media campaign such as above, would be costly, but if done right, the awareness created would not just stop at the retail side of investment, it would get right to the heart of the institutions, and who wouldn't want to be part of something that is going to lead Britain back onto the global stage and make it Great again? Look at media currently and you see that BA are doing just this. It certainly wouldn't do the share price any harm and who knows, get it right and there could well be a retail market in our hands to issue those "peoples bonds" to. Whether they be straight bonds with a good interest rate, or a pseudo-premium stlye bond where holders getter a better than bank interest rate but with the added chance of once a month becoming a "Sirius Millionaire" al la "Lobe and Hoelzl" or simply a smaller prize.