Member Info for Tex2374

LOL, no need to ask for the story off people . Just read the posts!!! Everyone has posted their opinions :-)

IBABFO clearly you are related to JR.

Sorry. That should read ‘was this order or go bust’.

Bellers, there is no one else interested. It’s this offer or go bust.

If anyone else was interested they would have indicated it already.

Sad day and time, at least 5.5p won’t be reduced.

The mine will be built, the region will benefit and no one will remember any of this in 5 years time.

Unfortunately, Sxx will view this project as a success.

I guess the class action debate is next.

Could be a good 22 months ahead!

There is a severe case of Stockholm syndrome on this share.

I’m not sure how much clearer the situation could be.

PIs will not have a say in what happens here. Maybe they can get some support to recoup losses (after things play out) if a strong enough case can be created.

Too many people focused on what should have happened, rather than what is currently happening.

Very dangerous strategy when you are still invested.

Longterm

Not sure if there are still the numbers of PIs and if the appetite is there. Also, you still need someone to come forward and underwrite any offer.

March is fast approaching I cannot see how this can be executed in time.

I don’t want to get speculate if this situation was planned and how long sxx was in discussion AAL (I imagine they have been engaged with multiple parties for a long time) , however, clearly there is still only one offer on the table and the fact that it is recommended by the BoD. @ 5.5p tells me they are not going to turn to PIs any time soon.

Hi Jiffy.

We are speaking about completely different things. I am talking about the likely outcome from the current situation and what will happen to Sxx.

You are speaking about your view of the negligence board.

Just saying we are talking about different things.

Impossible to say yellow. You just have to formulate a view based on what we know via the official channels.

My view is it’s going to go down the route of 5.5p. If a new bidder comes in then maybe it’s 6p or 6.5p??? Not 10p or 15p since the BoD have said 5.5p is a good price.

In terms of dodgers view of finance being raised, I personally don’t see it. There is an offer of 5.5p which is low due to the perceived risk, no other bidders on the scene, why would financial partners suddenly see this as a de-risked project and invest?Nothing has changed over the last 3 months and no one has stepped up to date

Again, if there were credible financing discussions in the background, why would the BoD be recommending 5.5p

The mine will get built and in 5 years time no one will remember this situation and what happened to the original PIs. Sad but true. All IMO of course :-)

Everyone’s situation is different. Good luck with what you decide works best for you, Yellow.

Yellow - again, very sorry for your situation and I hope you come out the other end ok.

Jiffy. I don’t know what you are saying.

Do you think other options will come in better than 5.5p?? You seem to indicate that and then say that CF doesn’t have shareholds in his mind. So why should we expect a better offer???

To be clear my view is :

The company will be sold for 5.5p or less
CF had a plan to go it alone and get financing and he failed.
The result is where we are.
Cash is running out.
The ‘several’ parties under taking due diligence in Nov resulted in one 5.5p offer.
This is the offer the BoD is recommending.
Sxx is trying to secure jobs which is something they can influence in the negotiations. Clearly getting more than 5.5p is not.
No new offers on the table yet and I don’t see them coming at this stage ( purely my opinion)

Not sure what else there is to say. Lots of talk about lawsuits and compensation, which is the same as every share which goes the same way as Sxx. Maybe this will come to something, I don’t know.

I am new the the share and sold most of my holding at 5.5p. I will keep the last bit to see how it pans out.

Very sorry to hear that.

Unfortunately, the Sxx story is not unique and as has been stated before ANY company can fail over night hence the need for broad diversification of investments. In the case of SXX it was always classified as a high risk venture.

I know this is on no value given where we are, but hopefully you can come out the other side ok.

Sad situation for many shareholders who bought in here without understanding the inherent risks. That said, your expectation was probably to make multiple millions and the sort of multiples people were expecting naturally come with a high risk attached.

Yellow. Do you have other holdings or did you just go big with SXX? that is a material amount of money you bet.

Is this the same CF who is recommending selling the company for 5.5p? Clearly he doesn’t have any other offers on the table.

Dodger I assume you are speaking tongue in cheek?

Why would they increase their offer when the BoD have said 5.5p is a good price and that they would recommend it.

Who? The pump and dump crew? Well they’ve moved on the the next share of course. Just the same people here who were around 4 weeks ago :-)

Of course they are! The deal is going through at 5.5p or less. No other interested parties.

Time is of the essence because if you don’t act soon then it’s too late and you get a letter confirming you own 5.5p or less shares. .

How do you think it will play out?