Member Info for OldRascal

Please, could we use the same team of commercial/financial wizards?

https://www.bbc.co.uk/news/business-46748193

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I looked at a property yesterday. On the market for £100k with a rental potential of £550. A gross yield of 6.6% with the usual risks of void periods, insurance, maintenance, dodgy tenants etc.. Meanwhile, RateSetter is offering around 6% with none of the hassle of BTL (but not covered by the FSCS guarantee.

There are houses for £40k with monthly rents of £350 easily achievable. Maybe slightly dodger tenants.

I’d sooner own shares in SXX.

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They could double the number of shares and I’d still expect a sp of £1 when in full production. But even 50p would be good enough.

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Where it says

‘...accessing the capital markets through convertible notes or new equity...’

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The additional funding and the Stage 2 debt will run hand-in-hand with each element dependent on the other.

I’m not at all concerned. It will be what it will be and on Tuesday we will be able to say that production is the year after next.

LL

With Stage 2 sorted the placing price will be set with that in mind. It may not be at or below the current level.

Institutions couldnt buy many shares on th expenses market at 21p. The price would rise as the available shares pool dries up.

LL

With Stage 2 sorted the placing price will be set with that in mind. It may not be at or below the current level.

Institutions couldnt buy many shares on th expenses market at 21p. The price would rise as the available shares pool dries up.

I just don’t understand why people get so upset at the thought of dilution.

We are holders of a share in a company that cannot mine any product in its current form. We need to borrow three times as much as the current mCap to get to production. Why shouldn’t there be at least some dilution? (apart from greed of course).

Roulette

30p in 3 years is a return of about 15% per annum. That’s almost three times what I get for cash held in RateSetter.

An awful lot of work to do before we are operational but I expect we will hit 30p in 2019.

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... 5 billion new shares...

At present I own 220,000 shares in a company that has a partially built mine. I’d rather have the equivalent of 110,000 shares in an operational mine.

I don’t see it as dilution. I see it as gaining what I would rather have i.e., shares in an operational mine. I’d be delighted with £5,000 per year in dividends.

Not long to wait before we all know.

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We hope to get $3 billion in debt, possibly split 50/50 between commercial loans and government backed securities. If we don’t manage to secure all that debt then some new shares could be issued - I’d guess at $500 million ish.

Then there’s the increased requirement for between $400 and $600 million. Depending on the terms of any potential strategic partner or royalty agreement we may wish that this could be funded by share dilution. I’m not sure the market is ready for $1 billion of new shares.

Unless you are in the higher echelons of the company or the banks or the government then you’ll know no more than anyone else.

Not long to wait now. The funding will be whatever it will be. Nobody really cares about LTHs - it is not in the banks’ nor the government’s remit to support or reward shareholders. The company will do that when we reach production because that is the only time that they won’t be holding out the begging bowl.

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Regarding the tunnel. See para 4.6.2...

https://www.northyorkmoors.org.uk/planning/Sirius-Minerals-Polyhalite-Mine-Woodsmith-Mine/York-Potash-Special-Planning-Committee-Report.pdf

6m diameter with 0.3m wall giving 5.4 internal diameter.

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I don’t recall any great revelation regarding the risk at the Mining Institute presentation. The Redcar mudstone is well informed by the seismic surveying for the tunnel.

It is blindingly obvious that boring vertically through many different formations will pose more ‘risk’ but they do have significant understanding of what they will meet as the cut through the layers.

OR

It’s reassuring to remember that while the sp languishes in the early 20s (yet another buying opportunity for believers in this great project), work continues 24/7.

I’m confident that the numbers are compelling and that lenders will be able to lend having done their due diligence.

It may be 100 days to a certain key date in the history of the U.K. but In just 12 days’ time we will be able to look forward to the year after next when the mine will open (I believe the odds are in favour for the mine opening in 2021 as planned).

Of course, until Stage 2 is delivered shareholders will be nervous. I know I am. Failure would be ‘emotional’ but I know people who are taking bigger risks than me.

I’m just going to batten down hatches and ride the storm out. Head in the sand? Maybe.

Season’s greetings to one and all. See you in 2019.

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They are less likely to be able to cover the £1.5 billion. They’d spend it on free tuition, cancelling universal credit and opening up our borders.

There’d be no money left.

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Your calculations are ok but it’s not £600 million and it’s not necessarily going to be by dilution.

It is $400 - $600 million (dollars and not GBP). Exchange rate current 1:1.26 so £317 million - £476 million. If it’s £400 million that is just under 40% of current share value.

But it may not be by dilution. Other options are being considered.

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https://otp.tools.investis.com/clients/uk/sirius_minerals/rns/regulatory-story.aspx?cid=485&newsid=815024

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I thought it was 20p. I’m sure that was the price I bought at.

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You sold £20k from your dealing account and bought £20k in your ISA. CGT is payable on profit (i.e., gain). That is what you sold them for (£20k) minus what you paid for them (choose the purchases that keep your gain to your personal CGT allowance).

Providing your total gains for the year are less than the allowance then there’ll be no tax to pay.

But I’m not a tax adviser.

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Bigger problems to have. :)

You must know how many you bought and sold and when. The info should be under dealing history or whatever your online dealing account terms it. If not online then I trust you have kept all paperwork.

Ignore any sales and buys from and to your ISAs.

If you cannot find an accountant, pay tthe maximum that anyone might think you would owe now and get an accountant to deal with it after January. Phone HMRC for advice. Just don’t try to underpay, be honest and all will be well.

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