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Oldhamboy
This simple video should help you understand the entire process.
https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/equities-markets/trading-services/trading-services-video-resources/what-auction
lost
The ORB market for retail and mini bonds is high risk and the FCA are currently investigating London and Capital Finance, thus my comment that the FCA would never authorise personal bond-type investment - just because there's lots of hype about 'saving' Sirius when it doesn't need 'saving', it doesn't mean it would be a sensible option to take even higher risk by suggesting that Sirius now turn to private investors for salvation. There appears to be no understanding of the reality of the money market for raising corporate finance. To even think that individual investors can raise $500m is in anyway a viable alternative to the US bond market is ludicrous. If investors can't even cope with the inherent risk in investing in shares and a fall in the share price results in suggestions of picketing the Sirius car park, I would not like to see the result if the bond market threw up some surprises.
KOH - exactly the sort of post investors don't need. Why do you feel the need to scaremonger by coming up with Armageddon scenarios. You won't damage Sirius by these posts but you may well encourage novice investors to sell up - is that your intention? If not, please think before you put your hypothetical doomsday suggestions in writing.
What press reports are your reading KOH - the story is already out there and typical British press, it's all doom, gloom and despondency, because that's what makes a good story. Do you really think that the bond issue is every going to be dressed up as a great story? Let's hope that" 99% of SXX shareholders are probably not aware of this board" or "follow what's written here", because it would scare the living daylights out of them. Perhaps a little understanding of the psychology of investing would not go amiss.
The FCA would never in their wildest dreams authorise personal bond-type investment from individual shareholders. People need to get a grip - all this pie in the sky nonsense about plan Z is only doing one thing and that is creating fear - the precise fuel needed to scare people into selling. Emailing journalists is just going to encourage more of the scaremongering journalism that makes for a good story. Leave Sirius and JPM to do their job - anyone on this forum who thinks they know best how to raise $500m is seriously deluded.
No the buyers did not back out, Sirius pulled the bond offering. There has been turmoil in the junk bond market due to the belief that trade conditions could send the global economy into a downturn that would in turn hit hard the finances of highly-indebted companies. When concerns about a recession build, bond markets are hit badly as investors leave to invest in fixed income and cash. As soon as market conditions change there could be a sharp change in investment strategy as there will be a lot of money waiting in invest again. " HYG, the largest ETF that tracks the high-yield bond market shed 1% on Monday, its most severe one-day drop since March last year .. run by BlackRock iShares, it has $17.6bn in assets and is commonly used as a measure of the health of the junk bond market". (FT) This began when the US triggered a new round of tariffs last week.
Sirius acted appropriately in the circumstances.
I'm very happy with this response from Sirius Investor Relations.......
Good morning,
Thank you for your email and support for Sirius Minerals.
The RNS issued earlier this week stated that as a result of market conditions we have suspended the proposed note offering but we intent to revisit the markets before the end of this quarter. Although the timeline has been revised it remains in line with previously communicated guidance.
As part of the note offering process we have recently completed a global marketing roadshow where we had robust engagement with potential investors from the US, Europe, Asia and Australia. The level of engagement was encouraging and we look forward to re-engaging after the summer break.
The stage 2 financing strategy was communicated to the market during Q1 (RNS 5237S). This remains the strategy we are focussed on executing to secure the necessary finance to complete construction of our North Yorkshire polyhalite project.
Kind regards
Sujood, shares are price in pence therefore 9.29 is 9.29 pence i.e. £0.0929.
updo - bloomberg - not quite right.
ASIPAC Group Pty Ltd (“ASIPAC”) is a Melbourne based diversified investment group of companies with a primary focus on resources and property. ASIPAC’s Chairman, Mr Feng (Bruce) Sheng is the current Vice Chairman of the Australia China Business Council (Victoria) and the Executive Chairman of Terramin Australia Ltd (an ASX listed Company), a company developing a portfolio of zinc and gold projects in Algeria and Australia.
The saddest thing about you lot of eco-warriors bashing this company is that you can't think for yourselves. If you actually researched the subject properly rather than following a cause blindly, you would see that YOU are part of the problem - attempting to hold back progress from a transition fuel. As you fail to have a coherent argument, you resort to bashing directors. Stick to the issue of climate change and do your research adequately.
Specifically for the misguided environmentalists....
"We continue to work to inform stakeholders in Slovenia and the general public on the expert opinions which conclude there is no significant environmental risk from the proposed development and at the same time state the clear benefits to the country from an environmental, economic and strategic perspective.
The development of Petišovci would support the Slovenian Environment Minister in lowering carbon emissions, as gas is a recognised transition fuel to a lower carbon economy. Electricity generation from natural gas creates less than half of the emissions from other fossil fuels, especially coal. Slovenia currently generates around 20% of its electricity through burning coal and imports all of its gas requirement".
Give it up! What a sad little team of environmentalists you are. It was very clear from the increased level of company basing that there was good news in the offing. Thanks for the advance notice - so pleased I invested more in AST in the last week - solely based on your level of abuse!
New2LSE - for someone who thinks this way, I suggest you hibernate until May as posting 10 times a day about AST is clearly not doing you any good. The share certainly keeps you captivated - I wonder why you are so obsessed.
Lost in the Casino. What utter codswallop!
If nothing else, the increased obfuscation and downright abuse on this forum, is indicative that the naysayers and slanderers are increasingly worried about the forthcoming positive news for AST.
Exciting times for AST.
I for one am pleased that CEO is not sitting on his laurels. Just what was needed, financing to steam ahead with the project. No point in moaning when this is how finance is raised on AIM - the entire point of having an alternative investment market! Exciting times ahead for this hugely exciting project. Everything will fall into place and we will all be richly rewarded for our patience with the Slovenian authorities. Totally out of BOD's hands and they have played this well. Good Luck all. I'm still topping up.