Member Info for Phatbaz

It's a tiny bit longer!! From 11th March 2019 RNS

Each Warrant will be non-transferable and exercisable for a two year period commencing from the date of the admission of the Placing Shares to trading on AIM. Application will be made to the London Stock Exchange for Admission of the Placing Shares, which is expected to be on or around 15 March 2019

Issue of 68,581,276 warrants @2p (How many are left to convert?)
Issue 9,629,960 “Advisory Warrants @1.45p (todays warrant conversion notice)

Some questions to ponder

What would MTR do with the money?
Where are the institutional investors, that required a share consolidation?
Why are we listing on the AXS (is it so the Terry Grammer estate can sell, avoiding currency conversion?)
Would the Canadian exchange have made more sense?
Will this share ever get out of the mud it's been stuck in for years?
Where's my dividend from the sale of the Thai assert?
Will the royalt from Sandfire be sold to Trident on the cheap?

After 6 years I've become a little sceptical of MTR's motives.

Who voted in favour of special resolution 15 at the AGM? (Dis-application of pre-emption rights). Gets passed every year, that's why we got 1 for 22 (think yourself lucky) and institutions get more, please no more moaning.
Financing of this project seems to have been very poor. Stage 1 didn't come as advertised, stage 2 was going to be sorted 12 months ago and pure debt, yet here we are with more dilution and it still isn't sorted.
Who's fault is it? Russell Scrimshaw, Chris Fraser, Thomas Staley, I didn't vote for resolution 15, or for one of these to keep their job. It appears to me these people know, they're living on easy street. I remember the luck of pure boredom on one of their faces at this years AGM.

Is there not a good chance MTR will have the minutes from the FDA by 31st?

Launch of stage 2 Financing RNS

2.1 Reasons for the Firm Placing .........

The Company will have no available cash to deploy into the Project beyond late May 2019, forcing the Company to immediately cease all capital expenditure into the Project such that the Initial Construction Phase would be suspended. In that case, the Board will be required to seek alternative funding or a merger or acquisition transaction involving the Company, both of which the Company believes it would be unlikely to achieve, or initiate an insolvency process (be that administration or liquidation), which could result in Shareholders losing part or all of their investment in the Company.

So, they could have slowed spending and waited for the banks and government to sort themselves out. They've had over 2 years, and moved the goal post so many times, think it would never happen. Yes we got option Y and option Z is above.

Fully funded and with the ToPs, what's this project worth? Anchor in port 30 before the new year.

So it seem Sirius were due to run out of money in 3 to 4 weeks time, still could.

“If the Resolutions are not approved” /“Company will have no available cash to deploy into the Project beyond late May 2019, forcing the Company to immediately cease all capital expenditure into the Project such that the Initial Construction Phase would be suspended”

Kind of puts raise into perspective, in May 2017 Market cap was £1,041 million today £756 million even adding in the new extra 2 billion shares only has us back to a little above 2017 market cap.

Does than mean all the work done in the last to years has no value? think the mine head would have been little more than a field back then, plus extra ToPs, and two years closer to production.

In 2016 Gina did the sums and took options for shares at 20p, we all though what a staggering deal she got. Fingers crossed we start to see some value added for all the hard work that's been done at Sirius