The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Buys now catching up with sells.
You couldn't makeit up lol
Week old news.
No just the BBCs "Look North" that's got hold of the story https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-could-handed-government-16859137
Sorry what gov investment?
Well said LOM anyone who finds it impossible to utter a sentence without starting with the word "SO" should be treated in the same way.....Oh and anyone that says "can I get"
Mrs Bottom did buy her own shares with her own money ant it was her deciecion however I may have been a little more encouraging than I should have been.
I have a feeling she'll thank me in the end. (its then I'll wish I was back in the doghouse lol)
Hi mYO
Yes both me and Mrs Bottomline get a constant stream of negative articles on our Google front page.
Its the reason I'm in the doghouse :-(
Old news
I'm with you Dadean :-(
Why would they swap debt for equity if we were going bust?
Perking up a bit :-)
https://www.fool.co.uk/investing/2019/08/06/how-low-can-the-sirius-minerals-share-price-go/
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https://www.ft.com/content/081e36c6-aa24-11e9-b6ee-3cdf3174eb89
Sirius Minerals has launched a high-yield bond offering, a crucial part of the funding package for the giant fertiliser mine it is building under the North York Moors.
The London-listed company needs to raise $500m from the debt market so that it can unlock a $2.5bn credit facility being provided by JPMorgan and complete development of the mine, one of the biggest civil engineering projects in the UK.
The bond is understood to have been rated single B by two credit rating agencies — well within speculative, or junk, territory — and the offering needs to be completed by the end of September, otherwise the company will run out of cash. However, Sirius hopes to complete the sale well before the deadline. A marketing campaign for the bond will start in London on Friday.
Woodsmith is the largest mine to be built in the UK for a generation and could employ about 1,000 people after construction. The project involves sinking two 1.5km shafts below a national park on the North York Moors to access a huge deposit of polyhalite, a mineral that can be used as fertiliser.
Sirius will then move the ore to a port on Teesside via a nearby 40km underground tunnel.
First production at the Woodsmith mine is expected in 2021, with output increasing to 10m tonnes by 2024. The company’s supporters say it will be one of the most profitable fertiliser producers in the world when the mine is up and running.
Its a sure way to become a millionaire ... so long as you start out as a billionaire :-)
Thanks to Myo earlier today.
page 4 of prospectus (10 of 601) "Summary Information"
"The Initial Bonds and the RCF are collectively referred to as the Stage 2 Debt.
The completion by the Company and/or a subsidiary of the Company of both (a) the issuance of the full amount of Initial Bonds or another financing raising gross proceeds of at least US$500 million (£384 million) and (b) entry into the RCF with a committed amount available of at least US$2.5 billion is referred to as the Stage 2 Debt Event, provided that for any of the consequences of the Stage 2 Debt Event to have effect, on the date the Stage 2 Debt Event is notified to holders of the Escrow New Convertible Bonds, the Company or the relevant subsidiary must be in compliance with its covenants under the RCF.!
Thanks Myosotis
Please tell me this isn't code for more dilution.
"The net proceeds of the New Convertible Bonds have been placed in an escrow account and will be released to the Company upon the issuance of US$500 million senior secured guaranteed bonds (the "Initial Bonds") (or another acceptable US$500 million debt financing) "
Roosters on the rampers list....really??
Definitely seems to be a common theme lol.