Member Info for OldRascal

The vote is, of course, meaningless.

An RNS regarding Stage 2 is more likely in the New Year because there are 365 days in the new year and only 19 left in this one (with some Bank Holidays and Christmas parties to come).

I didn’t vote and don’t really care when the news comes. Patience is a virtue.

OR

Delaying this massive project to wait for unforecastable favourite conditions is not an option.

The cost of delay would be many times greater than a bit of foreign exchange savings.

OR

If every shareholder had sold at the every peak and bought back at the bottom of every trough we could have funded Stage 2 ourselves.

:)

OR

Civil Servants are told to spend the money in the years that it was planned to be spent. Hence, even if a project is delayed, there is pressure to spend this year’s planned spend (otherwise they lose the money and have to go back with the begging bowl and admit that they have failed - an onerous task to say the least). The hope is to recover lost time before the original money runs out - but that rarely happens). When the project enters later years they have no money and are forced to admit their delays.

You couldn’t make it up.

OR

Crossrail bears some similarities to the Great North Yorkshire Polyhalite Project. It is a huge undertaking and involves holes in the ground.

I think that is here the similarities end.

Crossrail is funded by public money. Sirius are not.

People working on Crossrail know they will be bailed out if they overspend. Sirius know that they won’t.

Crossrail involves holes under our Capital City. Sirius involves holes under moorland.

Crossrail will never be profitable - its income is passenger dependant and unlikely to ever justify the cost on purely financial grounds. Sirius have billions of tonnes of polyhalite to sell and will be profitable in just a few years.

Never doubt what you know to be true. (JimG)

OR

Dickyboy

All borrowers need the money more than the lenders need it. Talk about stating the bleedin’ obvious.

Sirius can you repay $3 billion in a couple of years when they reach 20mtpa. The project plan looks reasonable to me. There are suitable incentives for the key members of the board. They have delivered so far.

It is normal behaviour for people to get jittery. You need to manage your nerves and believe in whatever yo truly believe in.

OR

Interesting strategy Nokesa.

>>> Sell on the dips <<<

I think I’ll give it a miss for now.

OR

We all hope that Stage 2 timelines are met.

However, it is not necessarily in Chris Fraser’s contol. So long as Sirius have provided all of the information that the banks have asked for and that such information stands up to scrutiny, then we can ask no more of our BOD.

Not long now.

OR

Sirius do not NEED a European TORP agreement.

It might be a nice to have but it is not essential.

OR

I obviously don’t know how MMs operate.

But the sp is taking another hammering so far this morning. Is it a tree shake? Is it heading for sub 20p? Do I buy more even though I have plenty already?

So long as I remember not to sell on the dips I should be fine.

OR

Indeed Myo.

The mine is forever nearer construction.

I suppose MMs will be loading up on shares if they expect good news or will be offloading if they fear the news will be bad. Maybe it’s a time when shares will transfer from the nervous to the confident, from the pessimist to the optimist.

Let’s see what happens and hope for great news soon.

OR

Thank you.

Always good to hear the voice of reason.

Buy on the dips.

OR

We were warned by casapinos that the sp could fall and that Stage 2 financing could prove problematic.

The good news is that I have the same number of shares today as I had last week. They still won’t provide a return for a good few years. The d walling machines are gone from the horizon above Whitby and work progresses at pace.

They say to buy on the dips. Hmmm, maybe a few more then.

OR

Institutional investors expect the bull market to end in the next 12 months. In investment terms that is the short term.

We have to hope that Sirius get Stage 2 sorted early and that the compelling investment case stands up to scrutiny.

Just build the mine on time and reasonably close to the latest budget and I will be content.

https://www.cnbc.com/2018/12/05/big-money-investors-see-the-bull-market-ending-in-2019.html

OR

I think you know that I said they probably couldn’t raise $2 billion by dilution. If they could, they would because the IPA guarantee is a last resort. There would be no guarantee if Sirius could raise the required funding by other means.

For the avoidance of doubt I have 223,506 shares last time I checked so definitely invested here. That is a lot by my standards. I wouldn’t have any if the mine wasn’t just up the road.

Not long to wait now.

OR

SL

I think dilution will come before the IPA have a kick of the ball.

The IPA will have the final kick in the last minute of time added on and will score from the penalty spot.

OR

SL

Please point me to where the IPA have said that they will underwrite a single penny of Sirius’s Stage 2 funding.

I think it may be what Sirius would like but that is not the same thing.

OR

This is how I see it.

It was mentioned that banks were already willing to loan $1.5 billion on commercial terms.

The IPA guarantee will only be provided if the mine cannot be funded without it.

Could Sirius raise $2 billion via dilution? Probably not.

So, what could they raise by dilution? When you work this one out then it is likely that the remainder will be raised by IPA guarantee.

We have an Australia-bias in the BoD. Maybe an Aussie or Aussies will provide substantial funds for Stage 2. This will be at a price that LTHs May find unpalatable.

I just want the mine built and I would like a 5% return per annum on my investment.

OR

The Instagram photos are great. I’d still like to see the wall tiled. :)

OR

According to a user on Facebook, the last panel was cast yesterday.

Great news.

OR