Member Info for OldRascal

CF has dedicated a good part of his life to this project.

Sure, he has been paid a CEO’s salary. But I bet he has worked long hours to deliver the fantastic progress to date.

He must be quite stressed at the moment. I hope he copes with this well and has the full support of his team. He certainly has my support, fwiw. If the project fails with CF at the head then I think it would fail regardless of who was in charge (humour: maybe a leggy blonde could have gained Government support).

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JR

Regardless of whether the shares are worth buying or not, topping up a little and often is expensive as you pay dealing fees each time.

Here is what I am doing. I sold half a couple of weeks ago and that money is sitting in my ISA account. IF there is another equity raise (share issue), I’ll consider using these funds to take part in the issue of new shares. If I do, this money will go direct to SM to fund the shaft sink (if that is what they do once the review is complete.

Best wishes,

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A covered conveyor for 23 miles and crossing a number of roads?

I think my former employer called nonsense like this ‘blue sky thinking’.

Even if it was possible, the planners would NOT agree to it.

An equity raise to fund the shafts is more likely. Remove the construction risk, use lorries to the MHF and let one TBM do the tunnel in 3 years.

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I’d expect a 1 for 10 consolidation making the share price around 38p. Then a placing at 25p to raise £500 million for the next phase of the build.

Either that or SM goes into administration.

I don’t see that anything else possible.

The government have paid advisers to advise them re SM. Advisers, in my experience, tend to provide advice that covers their own backs. Maybe the advisers had links to other potash miners (they are the experts on mining for fertiliser). AIUI, the advise was that the risk of failure was more of a probability of failure. I don’t think that there are any engineers or project managers in government (ok, I haven’t checked). They’re just a bunch of career politicians looking to serve themselves first and foremost - again imho.

But I am a novice and shouldn’t be on the BB. :)

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I think one of us is missing something.

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The company will obviously add a little colour to their reports. They have a vested interest in promoting the positives and burying the negatives. This is obvious to any sane person. Of course, they shouldn’t LIE to their investors. Other than saying that Stage 2 would be all debt (on Twitter, I cannot, hand on heart, say that they have deliberately misled investors.

Suggesting that BBs should be closed down is a reasonable argument. We need to protect people like jr from people like jr.

People who say it isn’t a loss unless you sell are misguided at best, fools? maybe.

All LTHs know the project is a good one. What I failed to understand is the duplicity of our politicians.

Remember, the real money men will steal your eyes and come back for the sockets.

Anyway, I’m gonna search for JimG and that quote about doubting what you know to be true.

Best wishes.

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mrJimV

I am a big supporter of SM. I hope it turn out well for shareholders.

I’m also one who suffers from depression. Anyone who invests either has to have the mental fortitude to deal with any potential losses or seek professional advice.

On this BB, derampers are blocked by rampers. On FB, anyone not buying the SM rhetoric are evicted from secret groups.

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... pushed folk to sell...

It’s the ones still holding that are suffering the most.

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The funniest suggestion re funding was to use crowdfunding. Some people just don’t understand big numbers.

CF is right.

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You clearly don’t know what 20 million tonnes looks like. Besides, there are geological faults that prevent such a thing.

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...if we are lucky.

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Way off imho.

SM need $3 billion. They have a MC of £300 million. The JPM offer is gone.

Dilution will be 9-fold. We’ll end up with 10% of the company.

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Private Investor bonds? You are having a laugh.

I love this project as much as the next man but...

Never throw good money after bad.

I’ll risk what I have left in shares but that is my lot.

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As we watch the sp fade towards zero, I assume that any shares sold are bought by somebody.

The question is who? and why?

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If SM goes to the wall, the receivers will find a buyer.

The area and the country will still benefit from Woodsmith.

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Shorts closing.

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...should be spent on TNT.

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Jonesrichard

I admire your enthusiasm but I fear that it is misplaced.

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99p party eh? I guess you hold 25 shares then.

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The question that we all should ask is ‘If I had no shares and the money in the bank to buy some, would I?’

If the answer is no then you should sell.

I still have more than 100,000 shares.

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