Member Info for Thornback

I can understand both sides of the story tbh,
I can understand why people are dissatisfied with the funding as the prize certainly isn't going to be what I once thought it was going to be but hopefully it will still be a good return.
I can also understand that for some people especially locals that it goes beyond an investment and has almost become a passion and has some great benefits to the area.
I also think that a lot of PI's would be delighted to sell if they can get back to the price they bought in at but I fear that could be a while off yet but hopefully they will get there. I also think the Offer will be at 15p because IMO the Stage 2 Alternative proposal appears t have bean JPM having all the trump cards, just mt opinion, I have a large holding and will still hold until production as per my original plans.
Good luck all

I concur Sad1ne;

Well it certainly has been a rollercoaster ride.
We've had £1 parties with pink Cadillac's and helicopters, dilution v no dilution, from 2.5B shares a few years ago to what is now nearing 10B. The share price that is comparable to what it was 2 years ago, opinions from Knighting CF to banishing him, the full repertoire in fact.
I thought it was a reasonable RNS based on the amounts of funds involved and would have been happier with the 8B shares but alas it appears that won't be the case.
It doesn't appear to be the "winner" for the little guy that I thought it would be, the end prize just appears to be getting smaller at every possible opportunity Finance is involved which isn't complete as yet.
There's lots of people buying in today at a very favourable price into a Project that is now fully funded bar the shouting and with a huge amount of risk removed at a much reduced price compared to some who have been buying at risk for years but that's life and good luck to them, in all sincerity.
I'll still be holding until Production all being well but with a more realistic view of the potential returns and a clear understanding that this isn't the Golden Goose for the little people that I once thought it might be.
Good luck all

"the book has probably closed already at 18p"

Hope you're right MrMath but I feel there's a chance for one more kick in the spuds, just for old time's sake :)

Is it possible that the Institutional Investors who have been invited to the Fundraise will buy their shares at the discouned price and then close their shorts accordingly..?

For me on the whole it's a pretty good RNS.
OK there is more dilution but there were very few (no names, no pack drill) who thought there would be no dilution.
It is a very large sum of funding let's not forget so. I would have liked the offer SP to be a little higher than 15 - 18p and if it was 18p I'd settle for that. I think now the funding is secure peeps will start to concentrate on the tremendous physical progress on the mine which should help towards a more postitive and friendly board.

Agree with all that wwguk with exception of existing shareholders getting an opportunity to be involved in the open offer, the way I read it is that Gina and co get more cake and the £310m is already sorted, hopefully I am reading that wrong.
Overall though a positive RNS and hopefully the offer price is 18p though I doubt that.

Well I'm hoping for a spike in SP so that the open offer price is not too low.
Anything around 18 to 20p would be fantastic especially if we can participate.
I'm praying that out of the £400m, the little people get a reasonable allocation and not say, £50m, and not with a low open offer price.
Fingers crossed and good luck all.

Exciting times indeed GK, I feel like a kid in a sweet shop :)
As always, thanks for the reply..!

So if the report is accurate and it drops in at 7 in the morning is it possible that Trading will be suspended as Myo detailed the other day, makes sense to allow the market to absorb the finer details does it not..?

I will be delighted if the deal is as accurate as the sky report states..!

Tonight is Christmas eve :-))

That's an excellent point LL and one I would agree with.
I would expect CF and team to be burning the mjdnight oil tonight (maybe as part of a pizza club) in order to complete an RNS for this week at the latest. My money is still on tomorrow, we like RNS's on Tuesdays..!

Brilliant Scott, thanks for the heads up, I will listen to that later.
It's all coming together nicely :-)

Ha-ha, I think we are wasting our time chilting, it appears the "will it won't it debate" has taken over everything else for today...!

Thanks for the repy chilting, I for one think this is a important factor for POLY4. I believe this will stand us in good stead in years to come..!

I was reading this article this morning and thought, POLY4 must be able to help with this issue after all it's good for soil structure and quality right..!

https://www.bbc.co.uk/news/science-environment-48043134

Take a look at this excerpt from the POLY4 website
"POLY4 helps to strengthen the soil system. Calcium in POLY4 helps to increase tensile strength, preventing soil movement, and improves resilience to compaction, thus preventing water runoff"

Does anyone have any factual thoughts from a scientific point of view..?

Ah I see RedRoy, sounds delicious I must say, that said it also sounds like a "widow-maker" with all them calories ;-))

Jesse, I asked a few weeks ago from the people who had met Chris Fraser what he was like as a man, is he a stand up guy, a man of integrity? or would he sell his granny for a fiver.
I'm sure I read (unless I had a dream, lol) that some of our shareholders get a great deal of comfort from him being at the helm and also a major shareholder himself.
I know business is business but I'm still happier with a decent person at the helm, a man who will negotiate hard for the little people who have also been instrumental in getting us where we are today.
I guess we will find out very soon.
Good luck all

Quite right Brad, the good thing is that as Capital are selling they are being bought up by others.
Once the selling stops we should hopefully see a lift in SP all things being equal.

Hi neonred, as far as I was aware the IPA which was part of the old Stage 2 make up is no longer part of the Alternative Financial Proposal. I was also of the opinion that the major global financial institution who has come forward with the conditional proposal has been involved with Sirius for a number of years and as such I would also expect some sort of RNS by Tuesday morning due to the knowledge and understanding of the requirements.

Go on then i will ask the question;
What on earth is a parma or parmo..???