Member Info for OldRascal

You can transfer some risk to the contractor. However, if the risk matures just maybe the contractor will go bust. Then the risk falls back on Sirius.

Nothing is a given. We need to know that.

OR

MD01

Most LTHs of this share will know that this money in not related to the tunnels. It is part of Stage 1 funding is being released ahead of Stage 2 being in place.

The circa $500 million for the additional tunnel costs has not been decided yet.

First polyhalite is not the same as first production.

OR

Gina Reinhart is a great person to have on board. Maybe she will up her stake in the company - at a price - if plan A for Stage 2 funding doesn’t deliver in time.

HMG need to deliver on the guarantee so that the project can be funded and, in the main, owned by the U.K.

OR

The market cap is less than $2 billion at the moment with money in the bank. What will it be if they have $3 billion of debt?

OR

I think they’d want 50% of the business for $2 billion.

OR

I’m expecting a strategic partner (one of the big potash players - ICL?) and 50/50 between commercial loans and government backed loans.

OR

I assume it is a question of priorities. Key staff will have been focussed on doing real work, such as agreeing contracts with Strabag and Jacob.

Mandatory 6 monthly results that provide no added value will have been put at the bottom of the in tray.

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RUSirius

I didn’t buy in August 2016 so no worries.

Still good. Holding to my death.

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Up 6.5% since the beginning of January. My best investment this year.

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John

If increasing your average bothers you, why not have two.

1. Average pre Sep 18
2. Average post Sep 18

It’s only a number and means nothing (other than providing B.B. bragging rights). So long as each purchase is a profit, who cares?

OR

You cannot use the Chunnel as a benchmark today. It was an example of all that was bad about Government projects. The unionised workforce made £££s for doing very little.

The French are not involved in Sirius.

OR

We are not funding the project when we buy shares unless we buy them in the open offers/initial offering.

IMO, the company has greater value today than ever before. Only now do we have all the major contracts in place to get the job done. Sure, we need $500 million more than we expected and it is likely to involve some dilution. But it is only around 10% or thereabouts of the existing shares in circulation.

Whenever I have doubts about the project (rarely these days), I drive past Woodsmith and Lockwood Beck. Ant doubts are soon erased.

Now is a great time to buy in IMHO. I really don’t understand the panic and expected better of some of the posters here.

OR

The sp has plummeted following what was, for me at least, an only slightly negative RNS.

The extra funding requirement represents less than 10% of the build cost and will soon be recovered. The risk of dilution has always been there and I think the positive news on the commercial tranche reduces the likely dilution level but (the RNS) removes some of the doubt that there would be some dilution at Stage 2.

Buy on the dips. The mine is being built.

We have seen drops like this before. We will, most likely, see them again between now and 20 mtpa (that is 20 million tonnes per year).

Like being diagnosed with a serious illness, it is better to know the truth than to carry on in ignorance.

OR

From Twitter

https://twitter.com/siriusminerals/status/1037023379885379584?s=21

Hairyfish

And, conversely, bond holders who do not wish to convert their bonds in December have a vested interest in ensuring the triggers do not happen. Maybe it’ll come down to who can influence the sp the most.

I’m waiting for dividends.

When the sp reaches 37p I’m sure we’ll hear about all the clever sods that bought at 34p.

Three months to saying the mine opens the year after next.

OR

7:00 tomorrow.

Even if it is just “Total voting rights”.

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KOH

Bet you’re glad you sold this morning so you can buy on the dip.

:)

OR

Previous Investor Presentations and Interim Results would have been issued by now.

I’m sure there will be a good reason but every morning when I see no RNS I cannot help but feel disappointed.

OR

It isn’t just the cost of Poly4 vs other fertilisers and the improved yields. We also need to factor in the fact that a farmer can produce more from less land.

As The Wurzels put it..

Oh I got 20 acres, you’ve got 43
But I use polyhalite and it’s like having 28.

OR