Tim Watts, CFO at Shield Therapeutics #STX presenting at our Life Sciences Investor Briefing Watch Now
Bearing in mind that the risks associated with sinking the shafts have been identified as the sticking point with selling the bonds, Is it beyond the realms of possibility that sirius could reach a deal with DCM whereby DCM finance the shaft construction, and then own and lease the shafts to Sirius going forward? £50m per year for 100 years for example? Has anyone heard of such a deal before?
I'm pretty sure this project was cursed the moment they put a red rose on Stella Rose as she embarked on her journey under Yorkshire. Anyway, for what it's worth, I've sold around half my holding and will look to either sell the rest if it's spikes, or rebuy after an eye-watering number of new shares are issued. The project (and sirius) can still be very successful, but it's no longer what we hoped it would be.
I thought it must have been some serious insider knowledge from the yard for such a horse to be tipped at 33/1, perhaps not. Hopefully you're as lucky with your choice of sirius. I sincerely hope so. Cheers.
Someone, not sure who, posted the other day a tip about Breathtaking Look in the 2.10 at Doncaster yesterday, so I backed it £2.50 ew at 33/1. Just logged on to my account and found out that it actually won! Thanks to whoever tipped it!
No problem. These regulations are in the main designed to govern transparency, although as you will probably note, there can be surges or slides in share price hours prior to an RNS being released. It happens because certain people within companies will be aware of the information and may 'let slip' this information to whomever and they buy or sell early as a result.
This process is illegal and the consequences are quite severe, but it happens in a lot of companies and I'm pretty sure nobody ever really gets caught. You'll see people posting about x, y, z company being a 'leaky ship', meaning that price sensitive info is getting out before the market is officially made aware via an RNS.
It means Relatively New to Shares.
Just joking of course, and welcome to the board. It means Regulatory News Service. Basically, it's anything pertinent that happens within a company that they are compelled by the market regulations to publish to the market.
There appears to be a number of new vacancies posted on the website this morning. Of interest to anyone who works in this sector, and also investors perhaps looking for further reassurance about the near term future of the project!
Not directly related to RENE, but still relevant and adds further evidence to support the techniques.
He mentioned something about giving confidence to private investors investing in strategic projects, or words to that effect. This could get interesting when he finally cuts to chase. Have to go to a meeting now, hopefully I'm significantly wealthier when I'm back out.
This is being announced tomorrow. Do people think there's any chance we'll get a direct reference as part of this? It's the rhetoric that was very much hinted at in the local news piece last night, and Javid himself has recently been linked to comments relating to the need to support Sirius.
Various news outlets have said that this spending review is likely to target easy vote winners should we be facing a general election, and I think support like this would very much help them in the North East!
Bellers/gertfrobe, thanks for the link and Bellers indeed redact that apology, as it's me who needs to offer my apology. A truly staggering figure to resurface roads in just one city/metropolitan area.
Thinking about it, you could probably afford to create a 100+ year polyhalite mine for that kind of money. Now there's an idea!!
Not checked in here for a while. Still have the majority of my holding, but had put them in the bottom drawer for a while as I wasn't expecting to hear anything too exciting until the conference in October (is this still on, can't see it listed on the events page on the website?).
Anyway, RNS today looks impressive - great to see them appointing such esteemed academics for the advisory board. Future continues to look bright, just needs some more patience.
July 2017 article about the bonds that Pilbara and Nemsaka issued, that are referred to in the Liberum research note:
'Pilbara Minerals has announced the successful raising of US$100M through a senior secured bond issue, which will be used to fund the development and construction of its Pilgangoora project. The bond carries interest at 12%py, with interest-only payments for years 1-3, 50% of the balance payable over years 4 and 5, and the remainder at the maturity date in 2022.
Meanwhile Nemaska Lithium has raised C$50M (US$38M) through a bought-deal share offering, the proceeds from which will be used for the on-going development of the Whabouchi mine and concentrator, and Shawinigan plant, including design work and long-lead item down-payments. Nemaska also updated on its debt financing saying it had entered into due diligence phase with prospective lenders and is hopeful of securing an agreement by end-Q3 2017.
The delays encountered by Nemaska in raising development capital from traditional sources illustrate the difficulty faced by project developers with large CAPEX outlays. Pilbara’s Pilgangoora project had already secured around 50% of development capital through an equity raise, de-risking the bondholder’s investment, although Pilbara is one-step removed from the final product sale despite recent investment and an off-take agreement from Ganfeng. Nemaska has off-take agreements, and completed a successful Phase 1 commissioning, but the full-scale project requiring US$439M (although with the latest capital raise more than US$100M has already been obtained) presents more risk to financiers.'
It's Whitby Regatta this weekend (hence the rain) - perhaps Sirius could organise a bric-a-brac and raffle to secure the $500m that way? Guess how many Poly4 granuals are in the jar competition? Just a thought. . .
Whilst everyone takes time to lick their wounds after what has been a pretty brutual few days (and year!), I thought I'd provide a short piece of analysis to provide an historical perspective of how this share can move in relatively short periods of time.
If you bought in Mar 2007 and held for 5 months, you could have made up to 375%
May 2009 hold for 5 months = 900%
Aug 2010 hold for 6 months = 445%
Aug 2011 hold for 4 months = 480%
Aug 2012 hold for 6 months = 200%
March 2015 hold for 5 months = 300%
Feb 2016 hold for 2 months = 130%
Jun 2016 hold for 3 months = 250%
March 2017 hold for 4 months = 100%
Feb 2018 hold for 7 months = 90%
Clearly, given the current climate, we are all abundently aware that for every big rise, there has been a big fall (and who knows, this could be the biggest and final fall). But the point is, this share has the ability to move quickly and a paper loss can quickly become a handsome profit. The company has been through a lot and survived. We could very well be looking at a different picture altogether in 5 months time, and could have another example for my list above.
Personally, I have bought significantly more in the last few months and have now accumulated more shares in this company than I ever thought possible. I hope to look back on this period as a blessing (albeit a highly stressful one) that I took full advantage of.