Member Info for stokey12

Does anyone know the timetable in relation to the consolidation. we have the AGM on the 12 June when the motion to consolidate shares will probably be approved. But what is the timetable after that.

Hitman - If this was a sell off I would expect a drop of 10p. This looks more like good old profit taking.

ditchit - I would disagree with your 17.47 post as is made clear in the annual report the important thing is getting the stage 2 finance. If despite everything we have believed so far they are able to get the stage 2 finance wihtout any further TorPs then that is all good.

Sorry I may have forgotten one in relation to the Stage 2. I do not have my copy of the annual report to check. I think it was to complete the stage 2 financing by this year. The question of TorPs would only be relevant for bonus payments if it prevents stage 2 from being completed.

ditchit - The main one is if first polyhalite production is on or before 21 March 2021 then CF will get a bonus of 5 x annual salary. I think the CFO gets 3 x annual salary. Makes me think that CF will do his best as far as safety will allow to ensure that first polyhalite is before March 2021.

hope4 - The level of dividends is based on the amount of distributable profits not the number of shares. The total amount of money available to be paid out in dividends would be divided by the number of shares. I take it that you missed the discussion onhere the other day on whether there will be a share consolidation. I am on the side that thinks that there will not be any share consolidation as the number of shares in issue does not warrant it.

Fred16 - No selling the husband to buy more shares though

stage 2 financing as before? The Presentation at the AGM shows a first polyhalite date as May 2021. If at that date SXX extracts polyhalite of saleable quality then this would be income that was not accounted for in the financial projections. As the mine would not be fully fitted out it would not be able to extract as much polyhalite as when fully fitted out. If we assume that in 2021 it manages to extract 2mtpa of saleable polyhalite then depending on sale price that would give an income in the range of $250m - $290m if my maths is right. This is based on a price range of $125 - $145 a tonne. In that scenario it would seem that the amount of stage 2 finance that we would need to find would be reduced by about a tenth.

Myosotis - They certainly like their conditions. If i am reading the conditions right the storage building will be on the large side.

Chriskies - He could slap tariffs on fertilisers that would catch Poly4. There is a domestic fertiliser market in the US.

I do not dispute that but as we have seen with Steel and Aluminum imports the current POTUS does not shy away from using tariffs to protect his home based producers. So SXX may have to license the product to a local company to protect from any such moves.

Thanks Myosotis - My only concern is pages 19 and 20 shows that SXX is targetting mid west North America with the current POTUS likely to still be in office when we reach first production I worry about trade barriers being put up as the North West is I believe where part of his base is.

OldRascal - I do not see why there would be any need for any sweetners. All CF will have to say if pushed is fine we will do without it. Yu have to remember that HMG has more to lose if the deal collapses than SXX as they will lose the tax revenue which can be anything up to �500,000,000 plus the political fallout.

Forsterite - The total amount of stage 2 fnance is circa $3bn. Of this circa $2bn will be gauarnteed by HMG leaving circa $1bn that will not be guaranteed.

I am with Myosootis on this I do not think it is much of a problem as it is only one bank. If we have a number of Banks saying the same thing then I would get worried. Of possible concern was what was said about industrialist may be reluctant to invest in the UK due to uncertainty. However the economic case for investing in SXX should outweigh these concerns.

Myosotis - I do not know the area but could some of the reduction in distance for the MTS be accounted for by a shorter journey to the SSI site for storage?

Myosotis - Thanks and once again thanks for your feedback - Note to self start saving up for next year.

Myosotis - Thanks for this very informative post. I see an interesting few months ahead. I note that some other posters made reference to a man from HMT being there did you see him. I wonder why he was there I would not think that HMT can afford to send someone to York without some reason.

I note from the breakdown of votes cast that just under 1 in 5 votes were against the remuneration policy. I am not sure what kind of effect that will have on the next policy when it comes to the vote. Clearly there was some disquiet about it.

Keable - You did not say what CF thought about a takeover was he supportive or dismissive?