Member Info for OldRascal

I understand that in a gain share relationship some of the risk is transferred to the supplier. However, if that risk is realised then Sirius cannot simply sit back while the problem is resolved. There is always the chance, slim though it may be, that the problem is so expensive that the supplier is forced/chooses to go bust rather than fix the issue.

We have world class suppliers who, I hope, want to enhance their reputations for delivering on time, cost and performance. Time will tell. Just watch out for the horseshoes that causes the horse to be lost.

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jonesrichard

I think I have a similar number of shares as you.

Hindsight is indeed 20/20 but we look forward to 20 21 (see what I did there!).

Our problem is that we are too close to the project. We know too much about it. Therefore, we know it’s a winner long term and so just don’t see the share in the same way as ‘the market’ sees it. Some people, who have not done the research, still see this as a speculative share.

Most of my shares are in an ISA. If I chose to play the market I’d only be able to play with year’s ISA allowance (I think). I just daren’t.

The return I want is 1p - 2p per share dividend and, more importantly, the satisfaction of knowing that I invested in a successful project.

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My average is about 20p and I’ve been buying SXX shares since 2013.

I think the important risk is whether or not the mine will be built. I’ve bought more shares as the likelihood of failure diminishes. Right now I think that there is virtually no chance of failure. I’m fairly confident that Stage 2 finances will be secured in a timely manner and that the company will continue to deliver on the things that are in its control.

Not long to wait now.

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Was it this...

https://news.sky.com/story/un-warns-that-food-system-under-severe-threat-due-to-shrinking-biodiversity-11644468

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Something’s afoot.

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White no sugar eh? Also know as a Julie Andrews.

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The sp went up. Not an obvious sign of significant selling.

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More likely a buy that was filled throughout the day.

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Induction hobs are as controllable as gas, cleaner and more efficient. Electric fan ovens cook more evenly than gas alternatives.

I’d prefer electric heating if the cost wasn’t so high. The idea of using gas to heat water so that it can be pumped around the house with an electric pump is bonkers from an engineering point of view. So many more failure modes than electric heaters.

Ground and air source heat pumps sound great but again, they require electric pumps.

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I’m fairly confident that if ICL can buy polyhalite from Sirius Minerals cheaper than they can mine it themselves, then that is what they’ll do. At least until they find a more cost effective way of mining it themselves. Maybe a 1mtpa TorP from ICL could be in the pipeline?

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In simple terms, if the sp outperforms the potential cost of borrowing then borrowing is better.

But there is more to it than that. You’d need an accountant to explain where the debt sits on the balance sheet. It makes borrowing more attractive even if the sp doesn’t outperform the cost of borrowing IIRC.

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It has only halved from what it was when it was twice as much. It’s still twice what it was when it was half of what it is now.

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I think ‘Mo Mowlam’ would be a great name.

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I love this project for all of the positive things it will deliver. But I am not blind to the fact that we (like all miners) are taking something from Mother Earth that cannot be replaced.

How will we feed the world after Woodsmith is depleted?

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Visit the museums in Pannett Park and Captain Cook museum on Grape Lane.

Apart from at the former entrance to Woodsmith, I’d recommend the view from the junction of Robin Hoods Bay and the A171 (with binoculars). Fish and chips - I love Hadleys, Trenchers, Royal Fisheries, Magpie amongst others. Have you tried Boggle Hole for rock pooling. Go at low tide and walk to RHB or to Ravenscar to see the seals. Sirius display was in the museum but not now.

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The sp is up 59% over 5 years.

We now own a TBM so our debt has increased. We still have no income to pay back our debt. The risk has increased.

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tinribs

What a great idea! I can’t believe nobody has m nyioned it before.

Where is the head banging against a wall emoji when you need it,?

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The handouts are part of the project. Without the S106 agreements there would be no project.

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Notable that Nissan are not moving investment into the EU.

My next car will be built in the U.K. and I hope more people make the same commitment.

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IF there is no guarantee it will be because one is not required. Sirius Minerals’ business case is rather compelling and it may be possible to raise the required funds via commercial loans, bonds etc.. If this is the case then an IPA Guarantee will be neither needed nor available.

If there is a guarantee then it comes with a hefty fee.

The overall cost of borrowing will be broadly similar with or without an IPA Guarantee.

Not long now before we all know how the Project will proceed. But proceed it will.

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