Member Info for PerArduaAdAstra

How would that be illegal, Andy?

Cheers,

per ardua ad astra

“Win win for Gina! If it goes belly up she has a half built mine for 250 million bucks is my interpretation!!”
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Indeed, Scotty. But of course she won’t receive that entitlement until she releases her 250 million — and she won’t release her 250 million until she has received “comfort that sufficient funding is in place and valid to fund a production capacity of 10mtpa”.

Which brings us back to the significance of her money being released on Monday. In which case, all shareholders should pray to whatever Gods or idols it is they hold that between now and Q1 ‘19, high ranking figures from our banking syndicate aren’t to be found frequently dining on finest Kidman Estate beef on the veranda La Rinehart’s luxury Brisbane riverfront mansion.

Cheers,

per ardua ad astra

“I’m either missing something, or the inference that it is dependant upon Stage 2 in the Prospectus is an additional condition.”
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Of course it’s an additional condition. There are over 400 pages in the prospectus, Roulette. Expediency and practically require that all relevant detail cannot be contained within any RNS, and it really is incumbent upon responsible shareholders to acquaint themselves with the full detail of the full financing round by reading the prospectus when it was published.

And yes, doing so is a hard grind, I get that. When ST1 was announced and it was first published I was away from home and had to attempt it on a phone. Now, that really was a grind.

Cheers,

per ardua ad astra

Of course. And if you try to remember, you might recall I have been extremely cynical in the past regarding the favourable status Gina received for her money. For my part, I don’t recall you ever endorsing any of my criticism. But of course, you weren’t recently disenfranchised then.

Regardless of her royalty component though, she will be a (hopefully) proud shareholder with 200million shares. If you think unnecessary dilution on a holding of that significance won’t affect a hard bitten business veteran such as she, then I think you are conveniently mistaken.

per ardua ad astra

“Therefore it could cost whatever to build it and it won’t matter to Gina”
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How do you work that out? She might not make a similar song and dance about it, but surely she’ll have as much interest in dilution as you?

per ardua ad astra

Morning, Cranleigh. Just noticed we are having parallel conversations. Lol.

Hope all is well in the ‘garden of England’.

per ardua ad astra

“Where are you seeing your above condition?”
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Hello, Roulette. It’s on page 216 of the April ‘17 prospectus:

Drawdown of the Royalty purchase amount and subscription of the Shares to be issued to Hancock pursuant to the Royalty Financing is conditional upon, inter alia:

“Hancock receiving comfort that sufficient funding is in place and valid to fund a production capacity of 10mtpa from the Project, including being provided with the Mandate Letter;”

It would appear that I have conflated the 13mmtpa Hancock receive 5% on with funding to secure 10mmtpa, however, the relevance remains.

Cheers,

per ardua and astra

“The royality was not to do with stage 2 being done.”
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Of course it was. How do you secure funding to produce 13mmtpa without ST2 being completed?

per ardua ad astra

Isn’t the salient point from this RNS that Hancock never had to commit a penny to this project until they were satisfied that funding was secured to enable Sirius to produce 13mmtpa — and now the money will be released in 4 days? Isn’t that saying something, or is last night still shining on my early morning face?

per ardua ad astra

Encouraging reading, FattyR. Many thanks.

I think many of us will be able to relate this article to the apparent and nefarious antics of dubiously named funds such as Muddy Waters and Shadow Fall - such laughable nomenclature for those that so obviously seek to muddy the water or cast a shadow on a business for their own self-serving gains. Bet the wags who came up with those must have thought themselves a right whizz. Or on it anyway.

Their latest turn was channeled through some crumby bloke at what was once a serious financial newspaper this side of the pond. There’s no end to services they can buy. Lunch at the Ivy must be an extremely attractive option for some hack of a reporter who prices his fee higher than his integrity. Caveat Emptor.

Regards,

per ardua ad astra

“Pi through dilution is paying for the extra funds needing and topping up is proving that point.”
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As regrettable as that may be, Andy, none of that is anything new as was always ever thus. Welcome to the stock market!

Another regret - and something far too many small investors forget - is that the big boys will always call the shots. Money buys influence in every walk of life. We engage in this pursuit in full appreciation that fact and that we’ll likely get shafted at every turn - which requires us to do all we can to ameliorate it. Or we don’t. Harping on about how ‘unfair’ it all is and adopting a ‘woe is me’ approach makes yourself a victim. And that mindset is a sure fire way of being chewed up and and spat out. Count on it.

We can do other things with our money though. Start your own business if you’re game, or, stick it in the bank if you’re not. A few get lucky once or twice and perpetuate the old canard that the stock market is a route to ‘easy’ riches — when it most certainly is not.

Sounds like one or two seem to be only just beginning to understand and appreciate that.

per ardua ad astra

Ah yes, Vin. That too. Though after mentioning tenacity and patience in one sentence, a gentleman might be gilding his lily somewhat by claiming possession of that also!

Cheers,

per ardua ad astra

“Everytime I hear someone say once the mine is built we will be laughing I remember the tshipi mine.”
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And yet your memory was rather more hazy when you were a shareholder?

per ardua ad astra

“In all honesty if they made any of us CEO tomorrow we could get the mine built.”
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Strewth... and some here have called me arrogant!

per ardua ad astra

“ I doubt you will look back and say "if only there had not been any dilution I would have made even more"
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Oh, I’m sure I will, avocet. Just as I will also accept it was a necessary evil along a road to making a rather large sum of money. A road I was fortunate enough to arrive at the end of by demonstrating the tenacity of hope and the patience of Job.

Cheers,

per ardua ad astra

Keep the elephants off it.

per ardua ad astra

Don’t see what all the worry is about myself. It does appear that some here are never happier than when they are picking a scab though.

If the shorts are are straight shorts well, the sell side of the transaction has already gone through and buying pressure should appear as they close them out. And if they’re hedged convertibles, again, we always knew those share would be coming to the market at some point anyway. Thank goodness it’s almost the weekend — a good long walk in our beautiful countryside savouring the mellow fruitfulness and scent of early autumn might just help one or two, to look at things in perspective.

per ardua ad astra

Ha, ha perhaps, jesse. Perhaps. Although with the notable distinction that (a) I have never sought election to public office. And (b), never prosecuted a strategy to hoodwink a certain section of the public in doing so.

Cheers,

per ardua ad astra

Certainly if we are to look after our soil for future generations there should be a place for a certified organic soil improver such as polyhalite. Having said that, there is a great variation in U.K. soil types and compounded by the presence in poly of calcium and magnesium, the K component can often become displaced in some of those soils. This can lead to any K not taken up by plants unfortunately being washed away and lost.

However, because the ‘other’ form of organic material tends to have a high cation exchange capacity though, it can help in retaining K. As such, incorporating traditional organic soil amendments such as compost, green manure or animal manures can enable us to mitigate this leaching effect. Thankfully Gove has plenty of the latter.

Cheers,

per ardua ad astra

Spot on, Vin.

per ardua ad astra