The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
if we get the result we want people will be saying WHY didn't I top up, if it all goes tits up people will be saying WHY didn't I sell when I could have, me I am digging in until we get a result. GLA.
Bellers, you could have been laying on his wife's sunbed.
RE: SXX site08 Aug 2019 09:06
"Nice to see an investor from Germany Greg??? Ve vish u Vell"
The European Union commissioners have announced that an agreement has been reached to adopt English as the preferred language for European communications, rather than German, which was the other possibility. As part of the negotiations, the British government conceded that English spelling had some room for improvement and has accepted a five year phased plan for what will be known as EuroEnglish (Euro for short).
In the first year, "s" will be used instead of the soft "c". Sertainly, sivil servants will reseive this news with joy.
Also, the hard "c" will be replaced with "k". Not only will this klear up konfusion, but typewriters kan have one less letter.
There will be growing public enthusiasm in the sekond year, when the troublesome "ph" will be replased by "f". This will make words like "fotograf" 20 persent shorter.
In the third year, publik akseptanse of the new spelling kan be expekted to reach the stage where more komplikated changes are possible. Governments will enkorage the removal of double letters, which have always ben a deterent to akurate speling. Also, al wil agre that the horible mes of silent "e"s in the language is disgrasful, and they would go.
By the fourth year, peopl wil be reseptiv to steps such as replasing "th" by "z" and "w" by "v".
During ze fifz year, ze unesesary "o" kan be dropd from vords kontaining "ou", and similar changes vud, of kors, be aplid to ozer kombinations of leters.
Und efter ze fifz yer, ve vil al be speking German lik zey vunted in ze forst plas.
https://twitter.com/SM_POLY4/status/1159795708804943874?s=20
ffcmember, in a perfect world, good post.
bradsmith," but I must be crazy to do that?"
one honest investor.
put your name down for the basher party, now who is going to start it off?
members, will you grow up, I use to talk like that when I was a 10 year old.
members, why wouldn't you take up the challenge you kept a low profile for a week hoping we all forgot, just answer the question please.
members
members you was given this challenge last Monday but you ran away for a week, WHY???
Everestsd
Posts: 40
Price: 14.80
No Opinion
Put your money where your opinion is Mon 22:04
(Members) l have had no contact on this board whatsoever with you and you have had no opportunity to disagree with me. You are so sure that the company and the share price is doomed l disagree so my proposal is l will deposit £100 with a mutually trusted poster on this board and you would do likewise.
In the event that the share price is 0.14 pence or less on the 29th September you collect the £200.
In the event that the share price is 0.1410 pence or more the £200 on the 29th. September will be donated to a popular charity to be voted on.
If l am to believe everything you are predicting l have just made a bad investment decision, l have no problem making a charity donation and as you are so certain you are right you can look forward to collecting your reward.
I look forward to reading your response.
Law of Mechanical Repair: After your hands become coated with grease your nose will begin to itch or you'll have to pee.
Law of the Workshop: Any tool, when dropped, will roll to the least accessible corner.
Law of probability: The probability of being watched is directly proportional to the stupidity of your act.
Law of the Telephone: When you dial a wrong number, you never geta busy signal.
Law of the Alibi: If you tell the boss you were late for work because you had a flat tire, the very next morning you will have a flat tire.
Variation Law: If you change lines (or traffic lanes), the one you were in will start to move faster than the one you are in now. (worksevery time)
Bath Theorem: When the body is fully immersed in water, thetelephone will ring.
Law of Close Encounters: The probability of meeting someone you know increases when you are with someone you don't want to be seen with.
Law of the Result: When you try to prove to someone that a machine won't work, it will.
Law of Biomechanics: The severity of the itch is inversely proportional to the reach.
Theatre Rule: At any event, the people whose seats are furthest from the aisle arrive last.
Law of Coffee: As soon as you sit down to a cup of hot coffee,someone will ask you to do something which will last until the coffee is cold.
of Lockers: If there are only two people in a lockerroom, they will have adjacent lockers.
Law of Dirty Rugs/Carpets: The chances of an open-faced jam sandwich landing face down on a floor covering are directly correlated to the newness and cost of the carpet/rug.
Law of Location: No matter where you go, there you are.
Law of Logical Argument: Anything is possible if you don't know what you are talking about
sorry already posted.
sirius Minerals appeared yesterday to be poised to take a giant step forward with its ambitious project to bring potash up from deep under the Yorkshire moors — but it also looked likely to have to pay handsomely for the privilege.
The miner is bracing itself to pay 13.5 per cent interest on a $500 million high-yield bond issue expected to be firmed up next week, according to a report by Bloomberg. The annual interest, or coupon, payments on the bonds are higher than the roughly 12 per cent that Sirius Minerals had expected and add $56 million to the cost of the securities over their lifetime, Liberum, the house broker, said.
However, if launched successfully, the issue will unlock a further $2.5 billion credit facility from JP Morgan that would secure the future of the Woodsmith mine almost a mile beneath the North York Moors National Park.
Sirius Minerals was founded in 2003, initially looking for potash in the United States, turning its attention to Britain more than a decade later and listing its shares two years ago. The company has identified 2.66 billion tonnes of proven high-quality polyhalite resources in the area, central to the making of fertilisers.
three mothers and their three daughters were killed in a car crash,
they go up to the gates of heaven and are met by saint peters, he calls the first mother and daughter and interviews them, all you ever thought about in life is MONEY you even named your daughter PENNY, sorry down to the depths of hell you go, second mother and daughter gets interviewed, all you ever thought about in life is ALCOHOL you even named your daughter SHERRY down to the depths of hell you go, last mother turns to her daughter and says come on FANNY WE AINT GOT A CHANCE HERE.
An elderly couple suffering from deteriorating memory signed up for a power memory class to improve their memories. The power memory method taught them to remember things by associating these with familiar objects. After completing the 5-day course, the old man was discussing the merits of the course with a neighbor in his backyard.
The old man claimed, "Signing up for that power memory class was one of the best things I've ever done."
The neighbor asked, "So who was your instructor?"
"Well, lemme see," said the old man. "What do you, ahhh, call that flower that smells nice but, ummm, has those thorns..."
"A rose?" volunteered the neighbor.
"Yeah, right!" nodded the old man who then turned towards his house and yelled, "Hey, Rose, what was the name of the instructor in our power memory class?"
Two cowboys come upon an Indian lying on his stomach with his ear to the ground. One of the cowboys stops and says to the other, "You see that Indian?" "Yeah," says the other cowboy. "Look," says the first one, "he's listening to the ground. He can hear things for miles in any direction." Just then the Indian looks up. "Covered wagon," he says, "about two miles away. Have two horses, one brown, one white. Man, woman, child, household effects in wagon." "Incredible!" says the cowboy to his friend. "This Indian knows how far away they are, how many horses, what colour they are, who is in the wagon, and what is in the wagon. Amazing!" The Indian looks up and says, "Ran over me about a half hour ago."
LIBERUM COMMENT
Thanks to poster on LSE - 42trader
Bond pricing guidance published at 13.5%
BUY
Target price 40p | Published price 15p | *Corporate Client of Liberum
Bloomberg has reported provisional guidance for the $500m bond, due to price next week, at a yield of 13.5%. The rate is above the 12% we modelled and adds $56m of interest costs over the life of the bond, but the far more important impact as far as the shares are concerned is improved certainty around completion of stage 2 finance given the c.$7bn gap
between the current share price and our NPV. Once the bond has been issued and the RCF terms finalised, the company will have fully financed project which we believe should sharply reduce the discount to our 68p NPV.
Interest costs higher, but plenty of available liquidity in RCF
Provisional guidance on bond pricing reported by Bloomberg suggests the company will be close to delivering a book at c.13.5% yield. We had modelled 12% interest rate, so our projected interest costs have increased by $56m on the first bond.
We model subsequent (lower risk bonds), which will be issued to offset draw downs on the $2.5bn RCF, at a 10% interest rate. Given the likely higher rate of the first bond, clearly risk on interest costs is to the upside. If we increase the anticipated interest cost on subsequent bond issues to 11.5% (also + 1.5% on our base case), then our modelled interest costs for the financing to 13mt would increase by $210m from $1.47bn to $1.68bn.
Its worth noting that this increased interest cost can be comfortably absorbed by available facilities. As each incremental $500m bond is issued, the available funds in the RCF only declines by $300m. As a result, the RCF provides an incremental $1bn of liquidity over and above the $524m (P60) contingency.
Interest costs small in the context of the value uplift
In our opinion one of the major reasons for Sirius' discount to NPV (currently 80%) is financing risk. With completion of the high yield bond and the RCF (due before end-September), financing risk is largely eliminated.
Theoretically, we can break down the discount to NPV into three buckets and crudely ascribe weights to them, i.e; financing risk (30%), execution risk (40%) and market risk (30%). If we assume that delivery of the first high yield bond and the RCF removes 90% of the financing risk, then the value uplift from removing it should be in the realm of $2bn, implying a major upcoming re-rating for Sirius shares.
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ffcmember, thanks I was getting a bit worried there, did I tell you about the three??? better wait until its quiet.
Jonnybgood50, are you trying to move in on my patch. Grrrr