RE: BONDS10 Sep 2019 19:42
woolverstone, of course I understand the waiting can be discomfiting, however, - to my mind anyway - I think some shareholders are mistakenly ascribing the circumstances facing some of the companies who achieved successful offerings as comparable to our own. Unfortunately it is not as simple as that. I have been critical of Fraser in the past —primarily because I didn’t think he’d lived up to his billing, however, in circumstances such as we currently find ourselves, some things need to be borne in mind. Firstly, Sirius are not generating any revenues, and even ‘junk bond’ investors want to know how they will be paid. Secondly, in contrast to the likes of IOG - who announced a successful offering this morning (and at an enviable coupon to boot) for their North Sea gas, Sirius are looking for finance for a product that is pretty much unknown commercially -even though its characteristics and qualities are scientifically proven. As such, there are myriad other conce4ns or conditions potential buyers will look to apply before they commit.
Yes, we may all appreciate everything poly has to offer, but, let me ask you this; if you were investing in a business, particularly for which the market is yet unproven, would you be looking to secure and any guarantees or, failing that, expect the risk you are taking to be accounted for? I certainly would.
Sirius has massive potential. If you held the keys to unlocking it, I bet you’d be driving a hard bargain too.
R3gards,
per ardua ad astra