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Says:

"The miner said the new proposal from an as-yet unnamed bank..........................."

This is not what the RNS says, which is :

“a conditional proposal from a major global financial institution”

Therefore there are no grounds for an assumption that the offer comes from a bank.

There are plenty of "major global financial institutions” other than banks.

Further, for risk considerations/compliance, I think it is safe to assume that any one bank could not consider stumping up the three Billion, which is why Sirius were previously negotiating with a consortium of banks.

Personally, and of course this is only my opinion based on my appraisal of the known facts, I think a sovereign wealth fund is involved here.

Hope this helps !!

SL

Profanity will not get you your money back.

You say:

"It's clear that funders were worried about the prospect of an ever increasing debt pile, debt/net worth leverage ratio and their exposure to risk as production progresses. Why the feck else do you think that this has happened...incompatible personalities!!! We are clearly experiencing a degree of stress in garnering funds."

Your statement indicates that you may have read (through your tears), but have not understood, this morning's RNS.

For your convenience I reproduce it here:

Sirius Minerals Plc

Alternative financing proposal

Sirius Minerals Plc ("Sirius" or the "Company") announces that it has received a conditional proposal from a major global financial institution (the "Financial Institution") in respect of its stage 2 financing (the "Alternative Proposal").

The Company has been pursuing a senior debt financing with a group of prospective lenders since 2016. This was most recently adjusted on 22 January 2019 to focus on a US$3 billion multi-tranche structure. The Alternative Proposal contains an alternative senior debt structure to completely replace that structure.

The Company believes that the Alternative Proposal potentially offers a more flexible and attractive solution to its stage 2 financing requirements and therefore it is pausing discussions with its existing prospective lenders to pursue the Alternative Proposal.

A number of options for the additional non-senior debt financing requirement, as previously outlined in the Company's announcement of 6 September 2018, continue to be progressed.

Hope this helps !!

Just a few observations off the back of this mornings unexpected good news RNS.

GK........Dooooo the hokey cokey !!

Trouble with that dance is that you can get injured if one of the dancers makes an unexpected move !!

SL !!.....SL !!......SL ?? Where are you ? Perhaps you have had to dash. (To get a Payday Loan perhaps.)

I am sure all of us "peeps and sheeps" are missing your keen financial insights.

Where are all yesterday's shorters and derampers..........Oh...I know....they are too busy to post while desperately trying to work out how much this good news has cost them.

As for you Roland Head, author of yesterday's ill-timed and it appears ill-informed article on Motley Fool, perhaps you should have been christened Richard Head.

You know it makes sense.

Hope this helps !!

For once I fully agree with LL on this.

There was no leak from Sirius.

Many many people working for the banks involved will have heard yesterday when the talks were "paused".

This was bound to cause the SP to fall.

However what they will not have heard, because Sirius have kept it nice and quiet, was that Sirius were far advanced in discussions with another Financial Institution.

Sirius would not be announcing this now, and giving a deadline, if the deal was not as good as done.

Great news.

Quite surprised that Roland Head who wrote the Motley Fool article is not a supporter of the project as he lives locally.

https://www.rolandhead.com/contact/

P

Silverfox333

Yes, sell the lot and buy a spellchecker and a grammar and punctuation guide.

U now it maikes sence !!

Hipe this hopes !!

Motley Fool

Peter Stephens | Tuesday, 19th February, 2019

Of course, some FTSE 250 shares have disappointed in recent months. Among them is Sirius Minerals (LSE: SXX), which trades at 19p, having been priced at 38p in August 2018. Alongside another mid-cap share which released a trading update on Tuesday, though, it could deliver index-beating returns over the long run.

Recovery potential

As mentioned, it’s been a disappointing six-month period for the Sirius Minerals share price. The company’s market value has declined by around 50%, failing to be lifted any higher by the improved sentiment seen in the wider FTSE 250 since the start of 2019.

Of course, the nature of the company means that periods of high share price volatility are to be expected. It’s not due to start producing its fertiliser for another two years, and while it’s discussing its financing options with lenders it seems logical that investors may decide to adopt a more cautious stance regarding its outlook.

This stance has become increasingly downbeat in recent months though, as the potential cost of the project has risen. Given the size and scale, and the time it will take to complete, some delays and cost rises are perhaps not a major surprise. And while the company remains on track to deliver first production as per previous estimates, the next couple of years could be uncertain for the stock.

Still, with Sirius Minerals having encouraging long-term financial estimates, having enjoyed success in areas such as entering into contracts and progressing with the construction of its production facility, it could offer long-term recovery potential. While perhaps not a stock for less risk-averse investors, it could outperform the FTSE 250 over the coming years.

Each to his own.

PS I wonder if Rupert Hargreaves the scribbler is by any chance related to this Rupert Hargreaves....

https://globalplantgenetics.com/en/

.......whose business model could be made redundant by the appearance and widespread use of a product like.....err......Polyhalite.

Hope this helps !!

GK

That little rebound this morning seems to have caught you on the hop.

Get back in quick........you know it makes sense !!

Dooooo...the Hokey Cokey !!

Hope this helps !!

Superleggera

Your last post sounds very dour and humourless.

Is it because the market appears to be moving against you ?

Still, things could be worse.......you could be stuck with a load of virtually worthless shares in the death-spiral Cuadrilla.

Oh sorry.....

Hope this helps !!

Superleggera

"Your helpfulness knows no bounds, but damn it man, couldn't you have warned me earlier ffs."

Sorry SL but I thought everyone already knew.

However, all is not lost.

Your share certificates can be put to good use.

You could wallpaper your house with them which would produce a useful saving on decorating costs.

You could find a use for them in the loo.

Depending on the amount you have, it might pay to acquire a wood-burner and save on heating costs.

If you are intending to attend any weddings in the near future they could be ripped up into very small pieces and used as confetti and, should any of this be left over it could be put under the floorboards as insulation.

Hope this helps !!

bottom_feeder

"You really shouldn't worry about natural disasters; human life is short enough as it is, to be concerned with such issues"

Well, I never used to bother about these things until you got me worried with your sinkhole concerns.

"If you're concerned of Meteorite strikes etc..... then I can do you a good price on a "Fallout Shelter" that may be available in 20-30 years time. It's 1.5km down with a long escape tunnel to the coast :-)"

Well, that's all very well but what if a big sinkhole opens ??

Particularly if www.youtube.com/watch?v=VNtsVP42bOE happens. What then ??? What then ?????

Hope this helps !!

Unless nothing can help !!

bottom_feeder

"Prevost - Pathetic!

Its clear that you are a Basher and Egotist. If you can't reply properly with decent information then stop responding."

You misunderstand. You state in your earlier post :

"What is SXX going to do to mitigate potential future cave-ins etc? Are they going to 'back-fill' the cavins as they remove the mineral or are they going to flood it?

My main concern is that of future potential Sinkhole issues that seem to be becoming more and more prevalent"

In an attempt to allay your concerns I spent quite a while researching the danger of causing sinkholes associated with excavations 1.5 Kilometres deep.

When I could not find any it set me thinking about the other worrying possibilities of a physical disaster to the project.

With the close proximity of the mine to the sea, a whole new horrifying possibility presents itself :

www.youtube.com/watch?v=VNtsVP42bOE

Hope this helps !!

Superleggera

"Thanks for highlighting my ignorance and that the nascent onshore oil/gas play is a dead duck. I will obviously be selling my AJL shares tonight."

Again, I am reluctant to offer investment advice but isn't it a bit late for that ??

Hope this helps !!

bottom_feeder

Almost forgot, you might also point out to the Company the useful thermal energy produced in the Meteorite strike.

Hope this helps !!

bottom_feeder

It might not be a bad idea to contact Sirius about this as it is quite possible that all of their geologists have not considered it.

Also, while you are at it you might also ask them how they propose to deal with the very real possibility in the future of a meteorite strike.

Hope this helps !!

Superleggera

"Prevost
Ultimately, UK oil and gas resources will be developed under the remit and evidence led ordinance of the Oil & Gas Authority."

I presume that this meaningless response is made rather than address the worrying (particularly for investors) issues raised in the Guardian's damning article.

Far be it from me to offer investment advice to you but a good place to start might be to Google: " Dead Duck"

Hope this helps !!

Superleggera

From your earlier post:

"PS
I'm currently vested in Cuadrilla (via AJL on the ASX). We are currently the most advanced fracking play in the UK. It's an extremely interesting time for the nascent UK industry."

I fully agree. Not sure if you have read this, which is very interesting:

www.theguardian.com/environment/2019/feb/07/fracking-firm-cuadrilla-denied-permission-to-relax-earthquake-rules

Hope this helps !!

Carondean

"How wrong you could be!

Never judge a book by its cover......or the writing on the back."

And nor, presumably, by inferred erudition or use of the word " jejune" in a post on a bulletin board.

These must make for some very interesting conversations, or perhaps I should get into the swing of things and call them "verbal interactions".

Forsooth.!!!

PerArduaAdAstra

From your earlier post:

"I was left feeling rather like the protagonist in an Annie Proulx novel as I found myself trawling through the other shipping news. And despite finding it all somewhat jejune and rather tedious myself..........."

Top Tip : Should anyone feel the need to seek out the company of PAAA, he will be the one sitting at the bar in a crowded pub with quite a bit of room round him.

Pretentious ??........................ Moi ???

Hope this helps !!

Andygolf

"Why what what others thinking stage 2 might be."

Why what what........what?