George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
And Fosters... what is there that is new in that article. Its just restating what everyone knows.
As I said - NO NEWS here until September. How many times can people try to make news out of there being no news.
Be patient and ignore the noise.
Exactly KOH. You and I were on here over the weekend and there were some good contributions and interesting content.
I completely disagreed with your approach, but we were both bona fide contributors.
Just ignore the noise everyone. You just need to wait for everything to correct itself as we approach the launch of the offering. Don't get distracted by some of the nonsense written on here. Be patient, it WILL correct itself. As you say KOH filter/skip.
I refer to my earlier post of 10.14 am, which was removed.
Minor adjustments up should be ignored and should not be seized upon by people suddenly believing we have hit the bottom and this is going to rocket. The "this will hit 15p and buy buy buy" brigade.
Minor adjustments down should also be ignored and should not be seized upon by people suddenly believing that the floor will collapse to 3p. The "sell sell sell and 1p party posse"
NO NEWS until September people - NO NEWS. Be patient here.
This will bounce around a little until late August when there will be a rise on expectation of news.
You cannot expect significant support and increase until September when the Board will revisit the offering.
Yellow
That’s so right. Everyone this board will be chock full of malevolent trolls tomorrow. I feel very positive about things. The trolls will have a field day with the idea that a few guys on LSE are going to run a $500m book on a retail bond offering. Seriously. They will LOVE that and I can’t bear to read their delight. I know people mean well but the board knows what it is doing the rest is noise. Don’t let the doomsayers wind you up.
Yellow
I couldn’t agree more. Sorry KOH this is daft. Contacting media will just add reactionary and desperate headlines to a situation that does not need it. Just let the Board do their job.
Steady
Again see post below - exactly. So:
£1.20 bn @ St.1
£0.25 bn @ St.2 placing
£2.50 bn @ St.2 credit facility (committed)
£0.40 bn @ Bond raising
So £4.35 bn raised and another £0.1 bn needed. Just under 0.25%
Even i fyou don't count the 0.40bn of Bonds and I don think you should it is $500m needed against $3.95bn raised (4.35bn needed). So as i said below roughly 90% there to TOTAL funding of the project - just 10% needed.
As MYO says - PERSPECTIVE.
Myostosis - I agree.
In the context of all the funds raised to date we are NOT talking about a lot of money here.
The company raised $250m from shareholders in St.2. Its also got $2.5bn committed facility from JPM.
Add that to all the money invested in St.1 funding. Others will know the aggregate invested to date from all sources. I do not.
We now look for the last slug of $500m. Fine that's a lot of money, BUT in the context of all the committed funds the company has raised to date (including the JPM committed), $500m is a marginal fraction.
It would be interesting to know what that percentage is of all funds raised and committed to date.
A lot of talk on here has been about this not failing because of the "blood sweat tears" to date..... I am not so sure about that. But I think what they mean is really [90]% of the funding is there. It would be odd for this to collapse because the remaining [10]% cant be found one way or another (restructured bonds with warrants or sthg else).
Put it this way if we had done the placing and the bonds, but could not find $2.5bn then that would be a different issue.
Note that back on 3 May this came out via Reuters. This suggests that the UK Gov were willing to continue talks about a guarantee but SXX thought it would take too long and wanted to push ahead with this structure to get funded more quickly.
Presumably then this remains a possibility. I have been skeptical about government influence but it may not be out of the question.
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https://finance.yahoo.com/news/sirius-minerals-raises-425-million-063222762.html
Sirius Minerals opted to press on with a more complex and expensive funding package to develop its giant potash mine in Yorkshire to avoid a longer wait for government-backed financing, a source familiar with the deal told Reuters. Sirius had planned to secure a debt financing package for the $3 billion (£2.3 billion) Woodside project - one of the largest mines to be built in Britain for years - from the government, with the rest funded by the market. The mine has been touted by British Prime Minister Theresa May as the kind of project that fits "the northern powerhouse" -- a government scheme to boost investment and jobs in the north of England.