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The only good thing about Bell is that he paid up on the bet I had with him a few years back. That’s all.
I have not looked into RRR for years and not that shocked to see what has become of it. Did the guy who invested lots ever get out? He invested so much at one point, they had to issue a RNS. I see MrMagic is still here. I assume he was that guy who used to be AB business partner, cannot see what else would keep him here.
Shep. If I chose to twist it (which I never), then everyone has been twisting just after every quarterly update, when everyone rejoiced at hearing on time and on budget.
Shep. I have said the extra funding will NOT be debt. I wish it were.
Shep. To go from 1 quarter of being on time and on budget to a few weeks later a RNS saying, actually we now need 400-600 million is me misconstruing it.
Are you joking. I have noticed that they don’t mention the budget now in quarterlies.
Take your rose tinted glasses off.
The Company is preparing its revised financing plan to incorporate the additional estimated capital requirement of between US$400m and US$600m. Sirius believes that US$3bn of senior debt is the appropriate level of debt and will not seek to increase this amount. A number of financing alternatives to fund the increased capital requirement are under active consideration. Financial close of stage 2 financing is expected to take place in the first quarter of 2019.
Alan. I am talking about the 400-600 will not be debt. That was said on the RNS in Sept.
It went up because we all assumed that stage 2 was looking at being mostly debt. We were also told everything was on time and on budget.
Now we are running out of time regarding stage 2, we were out on the budget by 400-600 million and the financiers won’t finance the 400-600 million.
Sheps keeps saying I am not stating fact,but it’s all fact.
There is no value in here at the moment for the risk needed. Yes a knight in shining armour could turn up, but if they don’t we have the very real risk of 600 million dilution, or the mibe being delayed. With the uncertainty of brexit thrown in, the risk/reward is just not worth it.
I noticed the date straightaway but to be honest I hadn’t seen it before. Is the date wrong. I find it remarkable though. The PM changes the guarantees and her husband sells a load.
Hmmmmmm. Who is holding this at 20p. It certainly not worth 20p in its current state. They are running out of money and could be delayed. With those risks, can someone please tell me how it’s a billion pound company in it’s present state. I know what’s it’s NPV is, but that’s if all goes to plan and some. With dilution lurking what’s is there to tempt people standing on the side lines. Not a deramp. Genuine question. Sell it to us.
Milo. That’s clutching. They all did and then didn’t in September. There was outrage as people think there was a leak. You are all just choosing to ignore what happened. The share price has shown us what has happened and it appears other bigger holders have shown there card too.
Sheps.
3rd fact. The company is currently valued at pretty much £ 1 billion and if they cannot sort this financing out very soon, they will run out of cash and have to stop work at the mine.
Now please explain how I am not speaking the truth. I am clued up on SXX just as much as the next man.
Sheps.
Second fact. Before the September RNS the company was going for stage 2 funding to be 100% debt and was looking for it to be secured in 2018.
Another fact.
Sheps. I have read the RNSs. Before the one in September which dropped the SP from 39p to where the sp is today. All the quarterly reports said on time and on budget. Is this not a fact?
Which parts are funny. I don’t see anything funny. People have bought in here in the high 30ps. For a long time the stage 2 finance was debt and the company were on time and on budget. This was all incorrect. They were actually well off budget and cannot get any debt agreed yet, and will have to dilute. These are facts and not to be ha ha haad at.
Absolutely it’s in everyone’s interest to do the fundraise
With debt. This is not happening though. Dilution is happening first. With an ii selling last week, the biggest investor sxx had, and dilution imminent ( if not the mine is delayed), I am very surprised to see this at 20p still.
All I can imagine is that it’s being kept here to get a 20p dilution through. Just like before stage 1 the sp was 40 odd pence and they diluted at 20p.
The motley fool is usually just click bait. Unfortunately I agree a lot with this one. In truth we all should agree with this one. We might not like to admit it in here, but as investors we all must have had the thoughts of why we are struggling to get the funds. Each passing day is a day closer to running out of cash. Each passing day the money makers are getting into a stronger negotiating position. I think behind closed doors with the curtains shut, the most harderned SXX supporter is worried.
If we are not having theses thoughts then we are not investors we are just ostriches with our heads in the sand.
I think what Casapino is alluding to, is that we are near the end of the 1st quarter, running out of money and we appear to be still trying to raise it. Where some investors were hoping that stage 2 would be pretty much sorted I am surprised to hear we are still trying to raise funds.
Ha ha. I am accusing no one. Just Teresa Mays husband does work for them.
Remember who works for Capital group. The PMs husband Phillip. Wonder what was discussed in there household regarding guarantees and funding.
Verde. Where are you noticing they are loaning out the shares to shorters?
No they are not one of our biggest shorter.