Member Info for OldRascal

It’s the constant reference to LTHs as being some higher power that irritates me.

I’ve built up my shareholding over 6 years but I’m no more worthy a shareholder than someone who bought today.

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I spoke with one of the team doing the seismic surveys for the MTS last year (near Hummersea at the time). He was confident that they knew where any faults were and that the tunnel’s route was being optimised accordingly.

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Chriskies

I’d assume that somebody might ask their broker to buy a load of shares at 11p. The market maker buys any that become available at 11p ish but stops buying if the average price is more than 11p.

But to be honest, I have no idea.

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Would the steady share price that we’ve seen this afternoon indicate a large buy being filled in the background?

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I don’t believe trades of one share hold any significance. Likewise, posts from ‘new’ members.

Don’t feed the troll.

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We know that the MTS is expensive and possibly a little over engineered. But, there wasn’t any alternative method to transport the material from Woodsmith to Teesside.

Once funding is secured, the cost won’t matter. Once at 13mtpa production, the cost will be forgotten. The whole project pays for itself over just a few years.

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What reply did you expect? ‘Thank you, we hadn’t heard of Sirius Minerals, we’ll dispatch Boris to Whitby immediately’ or ‘What a good idea, we’ll underwrite it but only because you asked so nicely’.

Jeez.

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Petition written by a 9 year old? I’m not signing it as it’s embarrassing.

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With an election likely in November I think I’d take what politicians say with a pinch of salt. That said, Simon Clarke is one of the most honourable of our MPs.

Any delay (given the reported improvement in market conditions) could be a sign that the company has reopened talks with the Infrastructure Projects Authority though I’d expect such a move to be RNS-worthy.

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Scotman

That’s true. Some haven’t got £5k to spare. Some would buy more shares if they had. But I bet SM could get 5 billion more shares away if they needed to in order to release the RCF.

Before we need to consider I think it’s likely that Chris and the team have other options up their sleeves. Maybe JPMorgan would reconsider the bond requirement and release, say $500 million of the RCF, ahead of a bond replacement next year.

The important thing is to keep the project running on time. Delays cost a lot, not only in cash terms but trust as well. We don’t want to have to lay key workers off as they may not be keen to rejoin the project later and may have moved on to new employment.

Bonds gone by the end of September is my guess. My guesses ain’t been very good so far.

Fingers firmly crossed.

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It won’t contain Poly4. Still a coup,e of years from production.

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jonesrichard accusing people of being naive? I’ve heard it all now! :)

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PolyMiner

Given the work that SM has put in to designing a modern, purpose-built polyhalite mine and the independent scrutiny undertaken by some of the world’s richest and most knowledgeable people AND mayo I think I’ll sleep easy.

I tried to get a job at Woodsmith but didn’t have any experience. Never mined, eh?

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Unforeseen challenges...

It’s hard to cut - especially if you use old, outdated equipment designed to cut coal.

Getting it to port - especially if you use a steam train.

No buyers - especially if you don’t have 11 mtpa (peak) of forward sales.

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I drove down Blue Bank this afternoon and must say Woodsmith was looking tremendous on a beautiful, bright, sunny day.

We have had some great weather and no excuse for any delays on that front.

Now, I just need to check down the back of the sofa for $3 billion and all will be well.

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I’ve never known a placing to be not at a discount. I’m fairly limited experience-wise.

How often are placing set at par or at a premium to the prevailing share price? Any examples?

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I’m not a LTH having only bought in on 9th August this year. Up 185% in under 2 x weeks.

All good except I only bought 1,064,117 shares following a tip on FB (not my usual modus operandi but certainly my most successful at the moment :)

Suppose I ought to do some research.

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Someone buys from the mm and someone sells to the mm.

Oar

Clutching at straws jr?

Maybe investors found SXX while being bored waiting for the markets to open. More likely to have typed SXX into google in error :)

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If they could have got the bonds away at 13% or even 15% I’m sure that’s what they would have done. Let’s not pretend that SM chose not to accept a higher coupon.

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