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When discussing SXX going into administration or shareholders being wiped out, it is worth bearing in mind all the assurances and share issues that have been promised to landowners on successful completion of mine, and those agreements are with "SXX". Without these people it could never happen, in this particular case CF may well be in between a rock and a hard-place, as regards tiers of shareholders being wiped out. This issue, and the major holders not even blinking surely gives a clue to what is next. IMO of course.
It was mentioned yesterday just how much the "Big" investors have lost, they did not bat an eyelid, they still have their original holdings and some.... I personally would side with them, and not opinions on these BB, the very large share holders are there for a reason, it is not because they are stupid, all of course IMO.
John
trion, reckon you are spot on there, I have been thinking about the "World class Contractors" also and if they sniffed a problem, they would not be pressing ahead the way they are something else defo afoot.
John
The link JiffyBag posted shows a lot of highly rated funds have bought into SXX, I did not realise how many till now. These type of funds are serious players who would be out of this well before now if they even sniffed failure, IMO of course.
As far as going into administration is concerned they have no more rights than us mere mortals, a lot of my SIPP have quite a few of the funds listed on Morningstar link, 9p level suddenly gets interesting.
MrMath, of course there is a chance of SP going to zero, and cannot be ignored, that said the "Wealth funds , BOD, Norwiegans", etc are knee deep in investment here, success has to prevail as far as they are concerned, surely ??
GLA
John
Lets hope CF can succeed with bonds then.
After trawling through various investor related sites CF seems to be getting slated a bit for pulling bonds, I would think JPM would have been party to this (I certainly hope so ). IF.... the bond sale is unsuccessful next month or whenever it happens, will we be looking at PI further fund raise to keep going, ie further dilution to avoid running out of cash ? just a general question do not shoot me down for using the word dilution.
GLA
John
sustainable production rates beyond 30 metres a a day, with all the neccessary ingredients to exceed targets, sounds very confident.
Chesh.... on another note subs are doing their job now....HL a bit slow though, but so is SP !! the now.
Thanks Chesh, sorted. Cheers.
Chesh....when you mention subs, and £1.50 fee, HL, is that monthly savings ? and is it stocks and shares ISA ? I am with them but the way they present info on savings is a bit unclear. I take it with SXX share stamp duty pence ? Averaging down as you state seems good idea at present. cheers.
Must have missed something here, what has happened to Myo, LL, SL, PAA, Alan G, etc ?? it is unusual is it not ?
Who knows the crater could end up 1500 metres deep and no shafts required !!
His name was "Grasshopper"
You are correct about that site I occasionally look on it, but there are very few posters now, and can understand the desertion
By my reckoning Sirius need cash in the next two weeks.
What do you reckon the above poster bases his opinion on, I was under the impression we were funded into Q2, what has changed ? anything ?. I know the cash burn rate is very high, (40m / month, thereabouts) also the site where the post was made has clowns on it and generally high negativity. How does someone arrive at a statement as above ?
GLA PS i have a lot of shares in SXX am just bewildered by such statements.
Thn
Hello all, not sure if anyone else has thought about the National Park authority here as regards a takeover, along with all the landowners with shares, agreements etc, Sirius as you all know have gone to extreme lengths to commit to community, employment, land owners, and followed very very stringent guidelines from NYM authority. Another company might not sit "so comfortably" with it all, reckon there is no way "Gina" or the likes would be able to maintain the approach Sirius have adopted, and maintained, throughout, IMO it makes Sirius unique, and a hard act to follow, and hope they carry on as such.
GLA
tinhatnail
Just checked his / her posts, really really upbeat, compared to posts about BZM, and TLW .
At least he has not accused SM of corruption.
GLA
Who is responsible for removing posts from last night, regarding Q and A ??, seems a bit stupid, after reading them all it did not make a blind bit of difference to me regarding SM, people are strange !!!
PAA ...who is the small minded bigot ?
Morning peops,
When I heard of SXX moving from traditional drill and blast to using cutting edge (no pun intended) Herrenknecht equipment, it got me wondering why. The equipment in question was proven and tweeked during the Jansen excavations and provides a high safety enviroment for highly risky excavation works. After a little research I came across several differences between the projects which shone a little more light on things, the Jansen project seemed purely speculative, they had the finances anyway, they just needed board of director say-so. The product they were pursuing was potash, and the very make up of it required a lot of processing, and separation, overland transport to port, and eventual, hopeful market.
Now moth balled with shafts almost complete BHP are waiting for demand to rise to convince BOD to reopen the project. Fascinating project, but when I for one look at SXX their story is very very different, the whole mechanism of what they are trying to achieve is so very different, and once they get to the product, the are not looking at overland issues, processing issues, market issues anywhere near what BHP are looking at. For those who will mention aquifer. and geological issues, IMO the BOD have this covered as much as is possible for a project this size with contractor choice, the progress to date is staggering, sure the BOD are not perfect but neither are we.
Markets pretty crappy overall today but I for one think SXX is a good prospect given time.
Sorry for long winded post. GLA
Excuse my naivety but if everyone put an upper limit of say 500p for selling, the shares would be unavailable for broker lending, just something I came across. Every day a school day.
There are two things you can do, the first is to certificate them but this is not obviously to everyone’s advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today’s price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps :D.