Member Info for SlurmsMckenzie

wwguk

Try registering here, I just put myself down as a private invester.

https://event.on24.com/wcc/r/2042922-1/ECCB108F549528595526DCD6A2553BBC?partnerref=rss-events

It's the presentation from the last quarterly update.

"The Times article sounds very encouraging, but, sadly, the Comments
below are anything but...."

I do sometimes wonder if groups of "Underground Traders" , swarm these things with comments to help with their short position. Unless we get a comment from them or their stooges at the fool we'll never know .

Hi, the quote is taken from raider42's post, which is taken from the broker note. If you hit reply you'll see the full thread by scrolling down.

"The three main components to complete ahead of launching the $500m bond are finalising the bond offering document, completion of the RCF documentation and finally the receipt of a public rating from the rating agencies. The company is hopeful these can be completed in time to allow it commence the roadshow ahead of August holidays,"

August Holidays?

When would people class the August holidays, I'm from a poor mill town with July Holidays, I'm making the assumption that this is related to when all the City Boys go on holiday, or is it a US thing?

Lot's to chew on

https://www.proactiveinvestors.co.uk/news/details/223176/sirius-minerals-confirms-us38bn-stage-2-financing-on-track-to-complete-by-end-of-september-223176.html

"According to City broker Liberum, Sirius bosses are hopeful of getting these bits finished in time to allow them to kick off the roadshow – where they promote the bond to institutional investors – ahead of the August holidays, although that is dependent on third parties."

CF to hold conference call at nine thirty

These are the stage two bonds we already know about I think. The funds get released on completion of stage 2. So it is more dilution but nothing new.

Hopefully get some jawboning regarding the bonds from whoever takes part in the conference call later, assuming there is one.

Gsk? I thought they'd held the divis for a few years and things were turning round. Happy to be told I'm wrong though.

However I agree with most of the sentiment.

Previous earners such as utilities taking a hit due to politics and big oil has a job on to transform

Hmm just rechecked and I'm sure beta has changed

Overall the messages take about half the screen rather than a third, it's enough for me, but I get that's a matter of opinion.

Stretching the width of the browser will change the width of the message texts, I think theres about 4 different settings to cope with different devices (responsive Design) so you can simulate mobile and ipads just by changing your browser size, not that you'd want to.

New site works fine for me on both android and Windows laptop.

It's probably not been tested on Ubuntu or longshot, not all the files for the site have downloaded, a full refresh or swapping browsers might help

Lost in translation surely? I think 'today' must mean at this point in time rather than literally today.

"Secured funding
With the construction of the first tunnel section with a length of 13 kilometers, the Strabag had already begun in early 2018. At the end of the year, according to the annual report, the Group had the order with 250 million euros in the books, now come "some 100 million euros" to it. The total of 24 kilometers long Tunnellose 2 and 3 lead according to the information in 360 meters depth from the shaft in Lockwood Beck to Woodsmith Mine.

The order for lot two and three was already made in September, but only now everything is fixed: "The financing is secured since today, so we take the order now in the stock," said Klein. This will now rise by several hundred million euros. The total order backlog of the Strabag Group at the end of the first quarter of 2019 amounted to 17.9 billion euros."

https://diepresse.com/home/wirtschaft/economist/5650823/Milliardenauftrag-fuer-Strabag-in-Grossbritannien

Thanks to ppvn from the blue channel.

Worth a read (Google translate does German well)

One more for "I dropped my wife in it" club, and in the mid 30's none the less.

I was getting away with at as well until AJ Bell grassed me up with an email about the rights issue (she promptly then checked the share price and a conversation was held)

I covered the rights issue.

(I'm actually not too worried and neither is she, i actually said I'd underwrite it for her anyway).

Honk honk indeed chesh, a fake quant never reveals his secret.

Rumbled TM, I went with a politician's answer and now have splinters in my arse

Trinity Man

I don't think personally i could ever deal in absolutes.

I don't have a figure i use between 1 - 100 , and if i did it, it would subjective as to be nearly worthless.

If you want to know somebodies true opinion follow the hands not the mouth.

We all agree that the bonds not being sold would be a near disaster.

I'm comfortable with Sirius being 15% (it was more ) of my portfolio, which I've been building for about 15 years now.

A glib answer would be 1 * (CCF) * (CFC)

Where CCF is my confidence in Chris Fraser

And CFC is Chris Frasers confidence when he says he "very confident" about the bonds.

After you...

"and the volumes that we've got now"

Notice the use of the term "we've", let's hope Jupiter Stick with SD, sounds like he's really rooting for Sirius.

"There is a lot more to secure any debt against now than before."

I guess I'll have to rephrase that.

There's a bit more to secure debt against now.

If the bonds are sold they release even more capital which gets ploughed into a mine, from the convertible bonds.

So there will be more built to secure the bonds against.

It's a bit of a chicken and egg situation.

Just like the previous incarnation of stage 2.

I've had the mispleasure of working in sub-prime, the company would lend and didn't care about the ability of customers to replay, just about the assets, that's a more sobering thought for me as a shareholder.

"Why not? Because the level of risk is too high."

I feel that should be corrected to

"Why not? Because the level of risk *was* too high."

The landscape is changing (although from what I've heard we have to put it back)

There is a lot more to secure any debt against now than before.

Point taken that you don't think this will be easy though.