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.... Unable to get a quote. Presume we're straight into auction are we?

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.

What percentage chance do people give that sirius will see this project through to completion? I'm saying 70% (down from 80% I would have said prior to the bond being pulled).

Good to see the government/tax payer will be finding an ADDITIONAL £30bn for a project that will have no bearing on the actual north of England. They could literally make up any figures they wanted for such a vanity project and someone would sign off a blank cheque without so much as a blink of an eye, whereas a project with the potential to transform the fortunes of an entire region needs a fraction of this amount (on loan!) and its met with indecision and non-committal posturing.

https://www.bbc.co.uk/news/business-49048823

The UK government of 2119 will agree to underwrite a loan for whatever we need to do, then dither at the last second because they'll realise the project is in the North, sending sirius nuclear waste storage plc share price into meltdown, if you'll pardon the pun.

You say that, but Steve Bruce has just been confirmed as Newcastle manager, and I guarantee he has no idea how achieve the performance related bonuses in his contract.

Thanks Myo

Might be a daft question, but since people are again speculating about Stella doing a second drive, do we actually know what distance the cutting heads are designed for? And what about other internal components. Basically, do we actually know if Stella doing a second drive is realistically feasible, and where did this idea originated from (ie has someone from the company mentioned it off the record at an AGM etc, or has the idea just originated from this discussion board)?

Well if it goes up I'll be happy, and if it goes down I can get more bang for my buck.

If nothing else, I'm reassured by today and the update with regards to long term prospects, and look forward to listening to the presentation when it becomes available.

Missed the webcast this morning,anyone know when it's going to be on the website, or if there are any links available now?

For what it's worth, my take on the rns this morning was that it was all good and positive. Arranging presentation of full hrpc results at a major global conference in October absolutely screams of confidence in the results.

That said, the market had its typical pitiful shrug at a positive update, and for once I actually joined in and sold around 1/3 of my holding. Don't know if that was the right move, but if it gradually slumps for a few months leading to October, then I want to be in a position to get back in with more shares at a cheaper price. Then again, they could announce a licencing deal tomorrow and I would look foolish....

Do we know what percentage of other companies he has sold since the announcement?

Hopefully the large shake and sell off over the past few weeks has removed some of the weaker hands and brought in new traders/investers at a higher price, who are willing to hold on and take us up through the resistance in the 300s.

You actually made £3m on Dana? Or is that a joke? Think I remember you mentioning them in the past.

Not certain if the results would be less dramatic just because they have better baseline vision already? The phase 1 subjects had next to no vision (ie the retinal progenitor cells were all already dead, and beyond repair) and those subjects therefore showed next to no improvement. The phase 2a first cohort had better vision, but were still medically classed as blind. The treatment worked very well on them, as there were more damaged (but still living) cells that the stem cells were able to repair, replace and integrate with. I therefore don't believe it's beyond reason that the next cohort, with better vision again, could show similar levels of improvement.

That all being said, I'm a PI, and not a RPC researcher or expert. Any improvement in the next cohort would be great to see, but importantly, the results either way would give the company a better understanding on where the study should go next, and who is most likely to benefit as a result.

How the share price responds to the results either way is anyone's guess. If there was a similar level of improvement from cohort 2 as there was for cohort 1, then I would be shocked if the share price didn't at least double or treble.

Getting back above 20p would be very welcome, but still a long way off. I've doubled my holding at sub 20p prices in the last few months at everything from low 13s to high 18s.

I have no real doubts about the long term prospects of this company (barring exceptional circumstances), however I would still off-load a proportion of my new shares if/when it gets into the 20s. Way too over-exposed currently, but simply cannot resist buying at the same level that some of the largest investment funds on earth are buying at - what further reassurance could an investor need?

All sounds very cosy doesn't it?

Nice one - thanks for pursuing

As unpleasant as it feels to be sitting on a paper loss, I can't help but feel that one day I'll be grateful for this drop as an opportunity to increase my holding to a level I never previously thought possible.