Member Info for OldRascal

istock

SXX is NOT listed on AIM.

Get it right ffs.

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This has to be positive news. Just need one of the happy clappers to tell us why.

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Still need to pay stamp duty I believe.

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You are free to believe whoever and whatever you want. Just as you are free to invest or to not invest in anything that you choose.

I stopped buying newspapers years ago.

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That’s what the FB group is for - except, I’m blocked.

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https://www.yorkshirecoastradio.com/news/local-news/2974246/sirius-not-planning-to-quit-stock-market/?utm_source=app-push&utm_medium=referral&utm_campaign=news

I always say ‘Ask yourselves, if you had whatever your SM shares are worth in cash, would you spend it on shares in SM?’. If the answer is no then you should sell.

There are many investors who think that you only lose if you sell. This is like saying that your 10 year old car is worth £30,000 because that is what you paid for it.

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Hi Fred

You are right. I love this project and hope it all turns out well.

I just think CF has a point regarding BBs. However, I will refrain from commenting on overly optimistic and overly pessimistic posters. As an engineer, my glass is neither half full nor half empty. It’s just too big.

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Sirius Minerals use words like ...aspiration... & ...hopeful...

JR reads these words as ...confident...

Good luck.

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SM have done whatever they needed to do to get the plans passed and the mine funded.

They will do whatever is needed to get the mine built - even if current shareholders are not part of the solution.

My heart hopes that a miracle happens but my head says run for the hills.

Not long now before we get more clarity.

I have decided to hold half of the holding that I had. I feel better for having made that decision.

If funding is achieved, I’ll buy more shares and rebuild to my pre-sale number - it may cost me a few grand. If funding isn’t achieved, I have a few grand to soften the blow.

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125,000 shares. Holding just in case but mentally, I’ve written them off.

Thanks.

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I still hold shares in SM. Half the number I had before the position degenerated to its current dire situation.

I hope for a miracle but I fear the worst.

It could just be my depression returning to cloud my judgement but I feel administration is the most likely outcome.

The benefits to local, national economies and to the world’s food production will all materialise no matter who develops Woodsmith. It’s only us shareholders who will be shafted and nobody cares about us. A new owner could actually deliver more income to the government because they wo t have to spend £billions getting the mine to its present condition.

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At 10,000 signatures the government will respond to the petition. Their response will be that the risk of failure was too great (‘ to guarantee these loans was to seriously jeopardise hundreds of millions of taxpayers’ money, with a high risk of default.’ - Simon Clarke MP).

I don’t see the point of this petition.

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Noddi

Any benefits that the U.K. Government might receive from Woodsmith will be just the same regardless of who actually owns the mine. Except votes in the Whitby and Scarborough areas of course.

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skier

Are you a multi millionaire due to shorting SM?

If not, it’s not too late. Go for it. Put your money where your typing finger is.

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T987

Quite possibly but, I bet you are back within 7 days.

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casapinos

I agree.

I think another equity raise is likely for enough money to reach the polyhalite seam and complete the tunnel (TBM elements only). Then they might use the tunnel and TBM conveyor (or road) to extract some product to Teesside.

Ideally, we can still hope for a government guarantee to help get some bonds away or cash-rich foreign investor(s) to provide funds. Realistically, a 1 for 10 share consolidation and further equity raises are what I would expect (if administration is to be avoided).

It really is time for CF to pull a rabbit out of the hat.

People on site are confident that the mine will proceed. Fingers crossed that current shareholders are not wiped out by the time production starts.

It remains a rather compelling business case - despite the sp.

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Appychap

I hope that you are right.

How much do SM need to complete the shaft sinks (at 50% and 90% confidence levels)?

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Not sure what RI is however, I sold half a couple of weeks ago and I’m tempted to sell the rest tomorrow.

My only consolation is that I know of others who have lost much more than me. And it is no consolation at all.

For those who say you only lose if you sell, you are wrong. Interesting to note that CF talks of PIs who have lost and not of PIs who are losing.

I certainly wouldn’t throw good money after bad.

Good luck all.

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The best options will have been explored by the end of October. If there is no funding then my guess is that SM will try another share offering. If this is the case, the price of the new shares will be lower than the prevailing sp. They will need to raise enough money to get beyond the high risk shaft sink - at least on one shaft. Maybe with this risk removed some bonds may be marketable to continue with the project.

Sadly, I think it is all unlikely and that we are heading for administration. Much to the shame of our pathetic government. Russell Scrimshaw said government backing was ESSENTIAL over 18 months ago. I think that the government’s advice to reduce risk lead to increased costs and, when the shaft sink couldn’t be derisked (by passing risk to the contractor), the Government refused to be involved.

https://www.telegraph.co.uk/business/2018/03/06/sirius-says-government-backing-2bn-essential-north-yorkshire/

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