Member Info for Tex2374

AAL won’t though, unless it’s already agreed.

FFC - you raise a good point. It would be useful for everyone if sxx declared their cash position and the burn down over the last 5-6 months.

In terms of the questions - I would bet they are all pre arranged and angled to try and answer what they are hearing from the market and media.

Not sure a sorry would have made any difference LTV but would have been a token gesture, I guess.

The only way they are getting back to Aus is in first class with their families, sipping champagne

CF won’t lose! He hasn’t invested anything apart from £10k!!!! The only losers are PIs who invested in his company. He will be fine, just cheesed off he didn’t make a £7m bonus.

He will get another 7 figure salary somewhere else.

LTV would you be happy with 7p? This is what they are requesting as a fair value. Not sure why AAL would offer more than the minimum, if they decided to change their offer.

They sent it to AAL as well. It may push other IIs to take a similar approach, although I am not sure 7p will cut it with the PIs.

:-) I know YOU are. Others weren’t though!

I don’t think you’re on your own Scott, lesson learnt I guess.

Oddly written email, but they have over 1% of shares.

Odey Asset Management LLP ("Odey"), in its capacity as investment manager to its clients, has an economic interest in the shares of Sirius Minerals plc equal to 1.29% of the shares outstanding as at 18th February 2020.

No you don’t you to the CEO of sxx for financial advice. Nor do you go to a faceless BB Seems many did and are wondering why they are now in this predicament.

Try a qualified financial advisor who can talk to you about risk profiles, diversification of your financial assets and planning your finances for the future.

Seems the delusional posters are back. No one is going to buy this for 15p!

The price someone is willing to pay is 5.5p therefore this is the value of the company. Why are AAL going to pay more when no one else wants to buy the company ?

The only way investors will realise more value is by finding an alternative way to raise the necessary funds for the next stage of development for the project,.

The possibilities should be quite clear for everyone.

First, will the vote be yes or no? If yes, then the company is sold for 5.5p. If no then the question becomes can an alternative funding option be found before the cash runs or, or will an alternative offer come in to buy the company. My view is that if the vote is no then AAL aren’t probably going to make another offer, upping to 6p isn’t going to cut it and the market is already concerned by AAL acquiring SSX (read the latest UBS comments).

Forget these farcical figures, there is one company in the world who is willing to buy Sxx (just one) and they will pay 5.5p, clearly this is what it is worth whether people like it or not.

Alternative funding is the only option and this is the gamble given the time left before cash runs out.

As I said yesterday, I think this will go to a no vote given the fact that many yes voters will want to safeguard getting some money back and just sell at 5p.

So (as someone stated earlier) shareholders are going to call Sxx bluff and see if there is another option before cash runs out. Probably the highest risk strategy you could take, but could lead to equally high returns.

Reading the BB it still seems as though a lot of shareholders aren’t clear around the situation and potential outcomes here. It will only lead to more head scratching if it all goes pear shaped! Probably best if some posters talk to some one who can give qualified financial advice.

Tex

Good documentary on Netflix. Quite sad in a lot of ways, but gives you a real insight into his life . He was a legend. After watching the docu I’m surprised he lasted as long as he did.

He influenced so many people and so much music.

+12% happy days.

Volume isn’t high though.

Maybe it’s our name...... hardly rolls off the tongue

I agree Swizz

For me 1 & 3 is the best option. Increase the asset value and then release the value to PIs through a takeover, which could be in a reasonable timeframe. Personally, I don’t want to be waiting 2 years or longer.

Blackfisk, you are right......cryptic is a very apt word!

I was going to wait and only add if we dropped below 2p , I might rethink that.

I alluded to the path forward in an earlier post. Options I see..

- Raise funds and do a low cost route to production as described in the latest Q&A to get revenue through the door.
- Get a major partner in from the onset to jointly take things forward on an industrial scale.
- just find someone to buy the company for what the major investors see as an acceptable amount (no idea what that would be).

Any other paths forward people can see?

I don’t disagree (well apart from the fact that clearly sxx was oversold to PIs, therefore the value is not what people believe) my point is that you can’t complain about a 5.5p bid for a takeover when there are no other people willing to pay more. 5.5p is therefore clearly market value in terms of takeover.

The question is now, can there be alternative funding found which would absolutely add material upside to 5.5p? We are close to the 11th hour and, to your point, this may be due to quite a few details not being made public.

Personally, I think this will go to a no vote and then we need to see if a new solution can be found in an extremely short space of time.

Herman, you need to be careful with those values. Your house is only worth what someone will pay. This is what we have at the moment.

One offer on the table from AAL. 5.5p
The consortium bid was dismissed as unviable - we do not understand why.
There was no real attempt to raise cash from shareholders etc - again we don’t understand why. (If fact this was dismissed by sxx as an option, I remember Bellers spoke to IR about this)

However, there were zero other takeover bids. If this is such a no brainer in terms of the asset value where are the 10p or 15p bids from other mining majors? Surely, they would be all be all over this with counter bids if this is as good as sxx sold it as being to PIs?

It would be interesting to know who else kicked the tyres in due diligence.

So what we know is that in terms of takeover value it is 5.5p whether people like it or not. The question is can a solution be found from alternative funding sources which would be more lucrative to PIs?

I think it’s also necessary to distinguish between how a company and Execs operate normally, which may seem very unfair to many, and where Sxx and CF have crossed the line. I assume this is the focus of sharesoc.

No point in pressing the point on things which may seem grossly unfair but are just business as usual . E,g. Remuneration and gold handshakes and handcuffs, Corporate agenda versus personal exec agenda etc.

Investing in early stage companies (or any company) is a cutthroat business.

By the way. I have taken the survey. Huge upside if that rescue package was ever pulled together.

Nearly jumped back in yesterday. Decided to wait till the 3rd and make a decision.