Member Info for trev79

I hope so. It's makes a huge difference to how I feel about the company. If it is pence then I have no trouble with a small give away to Graham Clarke and a genuine incentive for the rest of the team (and hopefully decent profit once the share price is much higher due to their continued excellent work)
What concerns me is the options granted on the 1st August grant date at 0.06p and 0.10p if that was pence they would never have been taken up now at a price higher than 4p.

Explains why the share price has gone down consistently over the last 4 days with £21,250,000 shares (if you add up all those taken on the grant date up) being taken as options for virtually nothing. Or am I reading it wrong?

Needs clarifying urgently. If it's 0.05p it is a massive give away of £50m shares not linked to any performance! This is almost 7% dilution for shareholders.
If the figures are £0.05 etc then it can be seen as a decent discount to hopefully substantially higher share price once progress has been made - and obviously incentive driven.

Top post.

Absolutelty top boost.
Could not agree more.

Vote will go through. Dreadful 18 months. Wish had never heard of Fraser as sxx back in 2010, if I hadn’t would be much better off.

Shafted. Completely.

Good to hear you are doing ok as well. It is a tough situation for loads of us. Do something you enjoy to take your mind off things. The one thing I am not doing is blaming myself, we have just been very very misfortune, not stupid, so no need to feel down on yourself.
I am staying put and things should come clearer very soon now.

Jonesrichard how are you feeling today? I genuinely hope you are ok.
When this shocking situation reaches it end, so does the message board. At the moment as others have alluded to I think it is helping a lot of us that we still have this platform to communicate, as there are lots of us going through this together.
Lost I thank you for your kind comments I am trying hard to articulate my disappointment in the best way I can.

Lost we will all be gone soon now won’t we.
After investing so much time, money and I guess real interest and hope in this over for me 6 and a bit years, I can’t believe i’m Saying it but I wish Sirius Minerals and Chris Fraser had never come on my radar. What a complete and utter waste of time and energy.
This talk of investor naivety I do find wrong. Of course some have been naive, and some over talked the future - but the sad fact is Sirius had a much better than fair chance of getting this financed. It is huge mistakes, and horrific circumstances and a failure to acknowledge they needed to change tac, along with probably some quite frankly dubious advice from JP Morgan that has brought about this truly dreadful situation.
It should never have come to this.
Yes the mine will be built, and the great thing for the area will happen, but it should and could have been Sirius Minerals finishing the job.

Exactly how on earth is probably recommending an offer of 5.5p a share unlocking the value for shareholders! They even have the nerve in the RNS to state how it represents a significant premium to the share price since sept 17th!
This while their still stated aim is that they are in active discussions for a strategic partner. The timeline of contact with AA as alluded to in the times article does not seem to tally with the conference call from Fraser and the RNS about the review progress from mid nov.
+ remember all previous significant rns’s always had a little paragraph of commments from fraser, we have heard absolutely nothing from him this time.
Awful, dreadful situation.

I always believed in Fraser, how naive I was. Lost I think I have made the decision to do the same as you and yellow and hold. There could be a final knife or there could be a bidding war, although I sadly think that very unlikely.
The events of the last 3 days have changed my view of him, as this is an absolute shafting. I always thought he was a genuine decent man. I still cannot believe it has come to this, the events since sept 18 are beyond all worst case scenarios.

I could not agree with you more. The more I read and having just read the times article this absolutely stinks.
Despair can easily turn to anger.
Why on earth is a capital raise not at least being attempted? I wasted 40 minutes of my life listening to the last conference call, and from that had a settled view that we could carry on and so in the very very long term long term holders would still be fine. To say the offer provides us certainty is so so callous, yes it provides us certainty of never getting our money back on something that a great many of us research very thoroughly and bought into over an extremely long period.
The article strongly implies a different set of facts from those implied on the call, rusirius has articulated what that means perfectly.
Dreadful. A dream dies but my god what a dreadful way for it to go.

Jonesrichard I really hope you will be ok. See my earlier post we have been dreadfully unfortunate, we have lost money but we are not losers.
I have lost a life changing amount, Sirius was my long term plan to finally get on the property ladder and long term pension. It will be impossible to recover the money now.
But it will be possible to recover mentally from the stress and huge financial disappointment over time. I hope you have family you can talk to, mine know everything and it is a very important help.
After this I think I will be done with share investing. Look after yourself. Your posts brought genuine relief over dark times and there was nothing wrong with being optimistic.

This is a complete and utter disaster. I hope all genuine long term holders are going to be ok.
Yellow’s post sums things up perfectly.
How on earth did it come to this? Most of us invested in this originally for all the right reasons. For me it was the fact that it was an ethical mine, with a product to do good. I had a target price to sell the bulk at which I so nearly got, and then the rest was in the pension for the future dividends and to see the project which I knew would be so good for both the area and the UK come to fruition.
To now see this snapped up by a mining conglomerate at an absolute snip stinks. To see it stated that they will use it to help with their green credentials just makes it hurt a bit more.
We were not naive most were very well researched. We all knew there could problems with construction but to see Sirius fail when construction has all gone well is just so sad.
I have lost an absolute packet which will now be crystallised by this takeover. I will not sell until the end now. We have fallen to a truly dreadful set of circumstances. The financing advice that Fraser had from JP Morgan and others must be open to so many questions. To see it snapped up for little more than was raised at st1 is just so bad.
Long term holders don’t fall out we are all hurting, we have been incredibly unfortunate.

It is obviously not 100% removed until we get the RNS! Just as the risk of not getting planning wasn’t removed until we got it by 1 vote!
I personally felt reassured by the RNS and conference call, but as you are not invested you don’t have to be.

30 to 40p in the very very long term - if everything else goes according to plan, but never not just on this news?
The best case is a royalty similar to the Han**** deal but at worst terms , in that event there would be a very major re-rate and fast.
However much I would love that, it is I am afraid very very unlikely.
We can only hope that for once we are pleasantly surprised.

You are obviously very keen to invest if you can then.

With my knowledge of the project accumulated over 6 years I would absolutely love to be able to make my initial investment now. After the last RNS I have zero worry about insolvency, but I and thousands of other long term shareholders are just absolutely gutted that our early investments at what were originally considered low prices have not paid off.

You are correct we do not know what will happen with the deal to get the 600m dollars but you have an incredible opportunity to invest now. With the knowledge you have built up part of you must be tempted to take it, given the amount of time you are spending on here accumulating knowledge!

Long term holders need people like you to get on board now, it is critical sentiment improves quickly as a sadly accept it is very highly likely that a there will be a capital raise. As previously stated if a royalty deal could be done that would be the best outcome, but it is all completely unknown as we no nothing apart from there are various interested parties carrying out due diligence. Go on get on board!

Cf got very unlucky, with certain headwinds and circumstances, as did all long term shareholders.

All long term holders are incredibly disappointed already.

You are studiously watching this board to gain knowledge, before reacting accordingly after a deal is announced then?

If the terms are ok then you may then invest for the mid-term then?
There are probably lots of potential investors doing that. There is certainly no fast money being put in at this stage, with sentiment on the floor.
Hope that things improve from here.

Doubling or tripling the investment now over a very very long time time is what keeps I like many other long term investors invested.
That and wanting to see the project successfully delivered by Sirius, that I have spent years researching and invested in the first place due to its high calibre with regards to the environment, ethical product and job creation in a deprived area.