Member Info for SlurmsMckenzie

Welcome to the boards Slimbo.

"it's basically just a placing"

Yes, Tony S has said as much on the interviews, the RNS states it was quicker to do than a placing, so no disagreements here with that or the number of pies Middlemass has his fingers in.

" but at a much larger discount than the April one, and to a related party"

Here's where my interpretation differs

The RNS states

'If there is no equity raising for greater than A$10m prior to the maturity date of 30 June 2021 (Maturity Date), then the Convertible Notes will mandatorily convert at 90% of the average of the five lowest daily VWAPs during the 20 days prior to the Maturity Date. '

That means it could be at a 10% discount of the share price in June next year which could / should be much higher.

That's if there isn't another raise ... and well ... I've lost count of the number of times a grinning Tony S has appeared on proactive saying how excited he was to be buying in.

If i've got this wrong please let me know.

Too many caveats to give you a working whilst on a lunch break, but I think it would fall into a range of 6 - 14%, problem is the strike price (not sure I've used that term correctly) being so variable.

I'm reading it that if everything goes swimmingly then these are at a discount of 10% to the average share price over 5 days in the future (June 2021) and if another raise is needed then the value of them is tied to the price of that raise or the floor.

"A floor price of 30c per Share applies to all conversions."

If that's the case then it would be 50,000,000 divided 353,290,000 shares roughly in issue around 14.15%, but that's the worst case, does that seem right, I'm no accountant.

He sounds more like a get stuff done kind of bloke, unless you're Jarvis ****er it's hard to come from Yorkshire and sound like you're full of razzamatazz also worth considering he was very much in the background PR wise at Sirius.

Looking at his CV , it's pretty impressive, there was the blip of the tunnel costs at Sirius which Tobin alluded to, but as far as I know that was down to Strabag and pleasing potential investors for an incredibly complex project, it's amazing that Sirius got as far as it did. Also you're getting a toofer here (two for one) not only somebody who has been involved in starting up a mine but somebody who has run one effectively as well (at ICL).

Oh I see they've blocked the link, your all smart enough to hunt it down.

Latest vox podcast (a familiar voice on there) worth listening to

There'll be an announcement soon regarding financing, its currently sat with Taurus who are divvying it up via syndication.

I'd recommend listening to the vox podcast after all if people have put there hard earned in, they owe it to themselves to spend five minutes finding out what's going on

****************************/articles/salt-lake-potash-ceo-tony-swiericzuk-john-meyer-and-paul-hill-on-2-tech-small-caps-b16c556/

This past 24 hours, I've noticed targeted ads for Emmerson appearing on websites I'm using.

Anybody else getting the same! Is this part of a new PR push?

Feels like things are progressing well, slowly but well.

https://www.proactiveinvestors.co.uk/companies/news/920099/danakali-close-to-completing-feed-capital-and-schedule-update-for-sop-project-920099.html

Be interesting to see if Shore drum up any support, I'll be honest they're not in my good backs given a previous potash debacle!

Wild horse energy? I think it was a uranium play at one point, well before I was invested.

https://www.veoliawatertechnologies.com/en/press/salt-lake-potash-trusts-veolia-pave-way-soluble-fertilizer-revolution-australias-sulfate

Interesting...

"As part of this contract, Veolia provided bench-scale testing at Veolia’s Phillip J. Stewart Technology center in Plainfield, Illinois (USA). The results validated the feed chemistry, simulated the optimal flowsheet design, and confirmed process performance projections that helped to de-risk the project."

Fair enough, always keen to learn.

It would seem to be a common misconception though, when was it last reduced?

https://www.bbc.co.uk/news/business-52483455?intlink_from_url=&link_location=live-reporting-story

https://www.ft.com/content/9e9419b9-63d7-4671-9dd5-527b57434777

https://www.theguardian.com/business/2020/apr/30/shell-cuts-dividend-for-first-time-since-1945-amid-oil-price-collapse

Thanks for the correction Pokerchips.

Live and learn :-)

Slightly shellshocked (sorry somebody was going to say it), because of BP holding their div, Shell not cutting since the 40's and the way they just barrelled their way through the Great Financial Crash by loading up on debt, but viewed outside that lense it's not the worst thing that could happen, looks like they're being a bit more prudent this time and it's likely the most sensible move.

I get the feeling that a lot of CEO's elsewhere will be using this financial shock to reset divis.

I'm certainly a little bit surprised by todays price action, i thought it would float around 17-19p.

Some big buys as well today.

A poster who called it right last time on hot copper claims A$20 million, at A$0.34 so about 17p.

I think we'll probably see something similar in terms of institutions buying in and a bigger overdraft from Taurus. No idea why this has happened though, maybe Taurus were banking on the value of the assets being higher at this point in time or are getting nervy about lending out too much.

But WTFDIK, we'll see.

Nice update

For those that haven't heard Tony S on vox markets it's here and starts at 16 minutes it's a very similar message to the proactive interview. However a mini nugget towards the end

****************************/articles/united-oil-gas-salt-lake-potash-frontier-ip-group-russ-mould-6e9afab

At the end (22:20) mins in he's asked about his recent share purchase

"Incredible value" ... "we've been dragged down with this global tide" .. "nothings changed" .. "I see enormous value" .. " which is why I bought in " .. "and will continue to do so "

I had a cheeky nibble at 16 after the top up by TS, these are uncertain times for sure, but he bought a decent whack. He must be very confident of the remaining funds from Taurus (or elsewhere) being released soon.

Wish I could answer, but I can't. I was quoting LTV24 in answer to a question another person had posted (I have a weird memory so thought I could answer his question).

On here, JG always insisted he had access to the same level of information as the rest of us, so I'd think he's probably suffered a similar fate, will be interesting to see if his cars still carry the Poly4 logo at Le Man's.

Ibabo2 hope this helps

"I have a significant position in Sirius. Just like Jim Glickenhaus, I'm taking a long term view. Holding until at least 2024 (assuming there is still something to hold past Sept). There's a lot of nonsense spouted on here,"

Just a general malaise I think Tobin it's not like an insane number of shares are changing hands, same thing happening with Kallium which is a few months ahead getting to production.

Price is a double edged sword on the one hand it's nice to top up occasionally at these levels. On the other hand if further equity is to be raised the higher the price the better, I've only been in this since August it must feel like an eternity for the earlier investors on ASX.

Can't help but feel the appointment of Todd Romaine is very significant, we might see a PR push from him based on the UN report. Let's see.