Member Info for OldRascal

The Roadheader will be used to excavate the shafts.

https://siriusminerals.com/downloads/shaft-sinking-factsheet/

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The VSM will excavate the MTS shaft to a depth of 120m.

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No, it is less than 60 metres (the depth of the outer d wall). From memory it’s about 55 metres.

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There may well be a general election next year but it is not guaranteed. The next planned election is 2022.

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That outer d wall - how heavy is it?

I make it about 7,000 tonnes. Does that sound right?

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The d walling machines should be finished with in the next month. Maybe that will attract some media attention.

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South Tees is the are to the south of the river Tees. Simples.

In relation to the mine near Whitby it is the area where the mined product first see light of day and is processed before loading onto ships.

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I agree with much of what you say but not that the TORPs would be worthless to the lenders (read ‘creditors’ if Sirius fail).

If the mine is not built by Sirius (and I think it will be) then it will be built by somebody else.

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I’m more than 99% confident that we have the right BODbto extract that cash.

Now to see what the Budget has to offer?

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We should remember that unless the mine reaches production, what we also have is a huge liability. I’ve no idea what the parkies would want us to do with the holes, the 7.2km of concrete d-walling and all the other stuff that has been deposited in the NYMNP.

But it will be built. Of that I have no doubt.

So, what is the value of the mine at 7mtpa output? Certainly not £1.3billion I would guess.

The company don’t need to borrow $3.5 billion against today’s assets. They need some of it this year, some next year and so on. As they draw down on the funds, the mine will be closer and closer to completion.

If banks operated as many seem to think, nothing would ever get built.

Bring the the IPA guarantee and the future will be very much more clear.

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Why is described as a $2.9 billion project?

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Why are puzzled?

Clearly, some people are prepared to buy at a lower price and some people are prepared to sell at that lower price. It’s quite simple.

Alternatively, the MMs could increase the price and have even more sellers but no buyers.

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The share price is what the share price is. There are clearly more sellers at 24p than there are buyers.

There’s quite a bit of uncertainty re Stage 2 funding but, locally at least, there is little uncertainty that the mine will be built.

Until the government guarantee is in the bag, uncertainty will remain. Despite positive vibes from local politicians we all know there is a risk that the guarantee will not materialise. If it isn’t, it will be the fault of Sirius for failing to meet the requirements. CF and TS have suitable bonuses tied to the successful implementation of Stage 2 funding. I think that the risk of Stage 2 funding failure is extremely small.

But I wouldn’t bet my house on it.

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I think a little bit of comparison would inform the audience of the scale of Woodsmith.

From wiki

In 1952, the U.K. produced 228 million tonnes of coal. 95% (207 tonnes) came from deep mines. Bearing in mind that Sirius aim to produce 20 million tonnes per year from a single mine, in 1952 the U.K. had 1,334 deep coal mines. That is 171,000 tonnes per mine
That is 117 x coal mines to produce 20 million tonnes.

Neither of the shafts are shown as going all of the way through the polyhalite seam in the schematic diagram.

Not that it matters.

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Sorry for the crossed post.

http://webmineral.com/data/Polyhalite.shtml#.W8naXRrTWhA

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Cubic metres to tonnes (polyhalite). I think you multiply by 2.8.

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Regardless if the monetary bonus that Strabag are likely to earn from the Project there is the reputation bonus of completing to performance, cost and time. Then, once complete, Strabag will have capacity to move on to their next project.

The days of 1970’s Union-controlled workers dragging the job out to earn extra money in overtime are long behind us. And thank heavens for that.

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There was definition of ‘First polyhalite’ (targeted for 2021) mentioned in the presentation.

As I suspected, it is simply having one shaft reach the seam and recover first polyhalite to the surface.

casapinos, the Greek meal was delicious with live Greek music playing to add to the experience. Mrs R and I arrived back in Whitby safely around 11:20 pm.

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The presentation was well attended in a lovely old building.

Nothing new in the presentation itself if you follow the build as closely as most here. However, the mystery as to why the tunnel was made wider was answered (in the bar afterwards).

Simply, that’s how big the TBM is.

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