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The same was said when the unwavering Robert Goodwill put it to Theresa May at PMQs.
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Shame on the Tories for proving themselves so thoroughly repugnant and untrustworthy, that a Marxist and apparent anti-Semite should stand even the most remote of chances of holding the keys to Number 10.
Ideological zealots abound. Where are the men and women of reason?
O tempora! O mores!
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“I am aware that the Treasury looked at providing government guarantees in the past and decided against this.”
——-
I hope this reflects a perhaps well intended interest, yet, only superficial awareness of events as they actually happened.
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Hi, DGR - being an IQE shareholder, I’m no fan of that particular hedge fund you can be certain, however, if I had divested the remainder of my IQE shares when they went for them, then I’d be considerably better off on them than I am today. Muddy Waters highlighted what they saw were inconsistencies and surprise, surprise some of their arguments had merit. Where does the share stand today? I’ll tell you, it’s 51p. And it’s not worth 51p because Muddy Waters say so, it’s 51p because in view of all that has come to light, that’s 2hat the market thinks they are worth. The same with Burford. If Muddy Waters are wrong, they will get burned. However, if they are correct, investors would be wise to follow them out the door. You pays your money, right?
Having said that, you are spot on with the abusive practices, book-talking and such like. But of course, that goes on on the long side too. And there’s plenty of companies that will happily mislead shareholders also.
R3gards,
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Darryl/Chesh, the problem is that it is a key component of an efficient market, where it is another mechanism to employ. I appreciate that shorting is a highly emotive subject, however, I don’t think that you’ll find many financial professionals have any fundamental issues with it, and I’d suggest that is more likely because it is a rather more sophisticated procedure than just buying shares and holding on.
You ask what the long term effects on markets might be, Chesh, and to be fair that would no doubt require a detailed investigation. However, drilling down and bringing it closer to home, perhaps I should ask what effect such a ban may have on dynamic, startup companies needing to raise funding? Where do you think Sirius might be now were they not able to place $400mn of convertibles at ST1?
Cheers,
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“Scum bags shorting should be banned”
——-
Nonsense. Short selling facilitates price discovery, it adds liquidity to the market, and it provides a useful source of revenue that the pension funds managing millions of our fellow citizen’s retirement can use.
Besides, funding that progress at our mine comes with a heavy price tag. And when you consider that more than a third of the funds raised at ST1 were from investors who quite likely wouldn’t be there, were they not able to hedge their exposure, and you can see that perhaps things are not quite as black and white as you may believe.
Regards,
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As baleful as your tale of woe may be, w13, I’m struggling to rustle up much sympathy for someone who gambles that the stock market is a route to easy riches — only to discover it is not.. Whilst not pertinent to Sirius in isolation, caveat emptor is the maxim everyone should apply in this game. At all times. And perhaps if you’d done so when you set out on your journey, notably before buying any shares, then perhaps you might not have found yourself in the position you have. Perhaps I’m wrong - and despite your best - it is only your timing that lets you down, but, I doubt it. Because to me, your post smacks of a lack of effort on your part. If you act like a lamb, you shouldn’t be surprised to be fleeced.
No doubt I’ll be jumped on for being pompous, or some such (LIGAF), however, some things need to be said sometimes — and the “I just hope we long term shareholders are not being conned” bit, tells me pretty much all I need to know.
Above and beyond anything in this game, PROTECT YOUR PRINCIPAL. Because if you don’t, you won’t be around long. And it won’t be Barclay’s, Sirius’ or, anybody else’s fault. It’ll be your own.
Good luck to you.
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Less than 20 years ago “organic” produce was perceived by many as a niche product, and I’d hazard that more than a few producers will have been cautioned or advised not to go down that route. - By 2025, the global value of this market is projected to reach $320bn. Polyhalite qualifies for a role here.
20 years ago there won’t have been many of us paying too much attention to our carbon footprint either. However, from electric vehicles to offsetting and carbon credits, many more of us are doing so now. Energy efficiency is a key consideration for an increasing number of consumers. And with an estimated carbon footprint three times smaller than that of MOP, there’s a good chance there’s a role for polyhalite here too.
“Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.”
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Whilst certainly no fan of the orange groper, you’ll forgive me (I hope), if I should take a link titled “learning from China”, and posted by someone who chose the nomme de guerre “RedRoy”, with more than a pinch of the old poly.
Without malice.
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Hey, Alan! You forgot to mention no meteor strikes (or earthquakes- a-la-cuadrilla) at Woodsmith.
Gotta be a bonus, no?
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Hi, Bellers. As you probably know, that page is a relatively recent addition to this site - presumably intended to publish/collect NEX exchange data.
With only about a million quid or so spent so far today, it would appear there is little need for the NEX exchange’s services, and consequently, no trades have been executed on that exchange.
The page - and its overall relevance really - is of limited use to shareholders.
Regards,
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“It’s one thing when you’re looking to sell 2-3 million euros (of debt). But when you’re looking to ship 50 million euros - that is more of a challenge.”
——-
No kidding. And a company trying to sell 500 million is going to find it more of a challenge still.
Having achieved so much, however, if anyone should doubt Fraser’s determination to get this deal over the line, then they really don’t know him well enough.
Fair enough, he might not be your best mate. But, at this price, at least you should recognise he’s likely to make you money.
Or did you come here to make friends?
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“Sadly this has no benefit to the current shareholders...”
——-
Despite the fact that everything you see evolving across all our construction sites is as a result of the hundreds of millions raised at ST1?
The hundreds of millions that the likes of Highbridge stumped up to buy our convertible bonds? The convertibles whose net long position necessitates short coverage in order to minimise exposure? Ah right, yes. Those ones.
Dig deeper...
As for any deliberate manipulation, woolverstone - to my mind that’s little more than idle conjecture, I’m afraid.
But, I can do that too. Try this:
Knowing that a successful closure of financing is imperative, the Sirius team launch their roadshows in good time. In doing so, they give themselves plenty of time to get the message ‘out there’. After receiving a number of enquiries from interested parties, one in particular strikes a positive tone and indicates that perhaps some formal discussions should ensue. The Sirius, JPM and attendant legal teams get their papers together and negotiations commence.
After closing their pitch it seems highly likely that a deal will go ahead, and we’ve got a buyer for the first round of our HY bonds.
Meanwhile... thousands of miles away, a big orange baby predisposed to opening his mouth without thinking and conducting foreign policy via Twitter, gets out his phone. A few characters later announcing tariffs on $300bn on Chinese imports, and financial markets go into meltdown. This is reflected in the bond market also, where from 30yr gilts to the overnight rate, basis points start mounting. In short order, all the figures quoted in the paperwork become outdated. Expired. Obsolete.
Can a deal be signed? Well yes, highly likely. But not that day. Not until those present in that room knew WTF was going on. We were Tangoed.
Is my little scenario any more realistic than yours? Maybe, maybe not. . At least it doesn’t infer our CEO is a criminal though.
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That’s correct. LSE service status available here:
http://liveservice.lseg.com/node/143
Cheers,
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“Anyway, who cares, its good news and the more of that the better !!!!!“
——-
It is good news. Of course it is. Unless you’re one of the many PIs who - having experienced one too many false dawns - has let their holding slip from their grasp at, what by all estimates , is an incredibly surprising price. And one many (including me!) would’ve never have thought we’d revisit.
It’s a natural part of any companies evolution that early investors will gradually relinquish their holdings to institutions. It is disappointing to see it first hand however, and witness the process and mechanisms that demonstrate just how it comes about.
I’ve seen many fellow shareholders come and go over the years (with opportunity cost and inflation to consider, more than a few who will have done considerably better than me too), however, it’s still a shame to see the likes of Citi, jumping in at this late stage, for a price that some early investors possibly with greater vision - or perhaps, bigger balls - did many years ago.
Personally, I’m stickin’. I Made that decision long ago. Adding to my slice of the pie is a more recent one, however.
Lol.
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Morning, Fred. I should very much doubt it myself. The bods are slated to be sold by end Sept., and although the meetings and roadshows are one hold, I reckon we’d still be very much in the market if the right approach came along.
Regards,
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“this share stinks if you look at its history it stinks”
——-
You’re just sore because despite knowing the history, you still don’t know how to read it - and profit from it.
I hope you take the time to read and reflect on some of your posts over the last few days though. Some of ‘em have been decidedly poor form, imo.
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“I am at work atm, can't really type & call.”
——
Lol... so having started out on this naive endeavour, you now wish to abdicate responsibility for it. Can’t type and call? How about calling and typing all about it when you get time?
Or, better still... don’t.
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Suspend? WTF are you talking about for goodness sake? If you - or anyone else for that matter - think that this is the end of Sirius Minerals, then you are either deluded or, simply too overcome by fear to think straight.
And clearly, never met Chris Fraser.
Sheesh...
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Good call, Vin.
*****ing about Sirius wanting a greater institutional base, whilst at the same time demonstrating the most compelling of reasons for one, certainly ain’t gettin’ us anywhere.
Cheers,
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