Member Info for OldRascal

The IPA Guarantee could only be set in place once all other avenues of funding had been exhausted. That is their remit. So maybe the banking group option was too time consuming. I’ve dealt with the idiots that control the purse strings in one particular government department - it is a tiresome journey.

The alternative proposal could see the mine built on time and on budget.

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Option A was the mandated bank group. They have worked with SM for over two years and failed to reach an agreement acceptable to both sides in a timely manner. Any IPA guarantee would only be put in place AFTER all other avenues of funding have been exhausted - including massive dilution. This would be unpopular and would sour the relationship that CF has with SM shareholders - many of whom are local to the mine.

Option B tabled today sees no requirement for an IPA Guarantee. It won’t be free and I’ll wait to see if it is a good deal for existing shareholders.

What we don’t need is an extension to the funding timescales.

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It’s never good to only have one option.

AMC soon discovered that the project timescales were not to be be messed with. Maybe the mandated bank group have also had their bluff called.

I’d sooner play poker against Theresa May than Chris Fraser.

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Did someone say they expected news on Stage 2 within a week?

Lucky guess.

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Cherokee

The worst case is not dilution.

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I fear that the biggest risk is that if the PM is defeated on Brexit (as is likely) there is a possibility that she will either resign or call a General Election. If a GE is called I wouldn’t expect an announcement during the period of purdah although, as we are not seeking government funding, maybe my concerns are unwarranted.

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We will not get government funding. HMG are not allowed to provide State Aid. ICL, for one, wouldn’t like it.

A Treasury Guarantee from the Infrastructure Projects Authority, paid for by Sirius Minerals on the other hand, seems like a no brainier.

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Blah, blah, blah ... in the absence of positive news flow ... blah, blah, blah

There has been loads of positive news flow. This is a huge project and the BOD are continually delivering on the build’s milestones.

Once Stage 2 is funded I can’t see anything getting in the way of Woodsmith Mine. I expect news on Stage 2 within a week.

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I was with Zopa in the early days of P2P but moved to RateSetter. The provision fund covers any bad debt and, without much effort, I get 5.6% (and rising as I devote more time). Cognisant of the risks but my Mrs and I have twice as much in RS as we do in SXX. It was about equal 6 months ago :(.

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If you hold £50,000 in Premium Bonds and have average luck you should earn £500 in one year.

They are pants as an investment so I just see them as gambling. You gamble the interest that you could earn.

You could earn more than £2,500 if invested in (riskier) peer to peer lending. Stick this on the horses and you’ll have more fun than checking Premium Bonds each month. But I wouldn’t do this either.

https://www.moneysavingexpert.com/savings/premium-bonds-calculator/#result

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I fully expect there to be no more significant cost overruns. But they cannot be ruled out.

If additional work is required due to unforeseen events that are not explicitly covered in the firm price agreements then there will a cost for this work AND a cost for time standing still for the contractors on site. Hopefully the commercial team has this risk covered and, at least partially, financially offset by opportunities to advance the build.

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Who knows?

It could be over 30p or nearer to 10p. More likely 20p.

ISA season will be upon us soon. Hopefully, Stage 2 funding will be successful and announced soon.

I think 50p could be achieved this year but, with the majority of my shares safely tucked up in ISAs, I await news of 1st dividend - probably in 5 years’ time when I’ll be turned 60 and B negotiations will be in their 7th year.

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As I understand it, the IPA only step in when funding can not be raised by any other method. They provide a guarantee that money borrowed will be repaid. Sirius Minerals have to pay market rates for this guarantee. HMG cannot provide State Aid to a private company.

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As I understand it, the IPA only step in when funding can not be raised by any other method. They provide a guarantee that money borrowed will be repaid. Sirius Minerals have to pay market rates for this guarantee. HMG cannot provide State Aid to a private company.

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The BOD do not know when funding will be in place. This particular timescale is not in their control.

We know it needs to be in place soon as money is running out.

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I finally decided to use the filter function so that I could avoid posts by the troll. But then nearly every post regurgitates his nonsense or refers to his diatribes.

What is the point? Just ignore him.

Don’t feed the troll.

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Just maybe anyone close to government will need to sell their shares ahead of an IPA Guarantee being issued.

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Page 3 Item 10

http://www.northernpowerhousepartnership.co.uk/media/1217/next-steps-for-the-northern-powerhouse-digital.pdf

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Polysulphate and Polyhalite are the same material from the same seam.

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Caution. Please do not split your sides reading this article.

http://www.icl-uk.uk/boulby-mine-picture-perfect/

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