Member Info for woolverstone13

Whats a guarantee for £ 1 billion. no cost to government or taxpayer but the potential of 100s millions of future income. As an investor I would rip the arm off SXX for that deal.What planet do our politicians live on. Secondly if we look at the what the government calls the Northern Powerhouse and their desire to promote it , again just aload of b'''cks. What cannot the present government not see that we can see. If the conservatives backed this project and promoted the fact that they have done then it would be for them the biggest boost to their credibility then they have had in a long time. They would gain thousands of voters across the north who recognised that they were not the forgotten few. If you want to champion the North then back it, give the people and workers of the area hope for their workers and the future of their children for years to come. Yes I am £34 k down and hurting but I respect the all the people of Teeside and Yorkshire who beleived their investments would help their local communities. Things will get better just wait.

xxdodgerxx

Thanks for the support i often get no reply on this board but I do think what I say has some credence

Thanks bellers glad someone agrees

I am an old Woolverstonian (look it up)!! And also a holder of some 297000 SXX shares purchased at approx 15.80p. Am I cross you bet I am. I looked at SXX for a long time and saw great potential. When the Qataris and Norwegians came on board at about the same price I felt confident that these 2 large wealth funds had done their due diligence and like myself saw SXXs potential. Within a very short time the SP dived and wiped out long term and truly genuine shareholders who had not only invested for growth and future income but because they recognized the benefit of investing would have to their local area with regard to jobs and investment. It seemed nothing could go wrong and was going to be one of the great successes of not only the country but the north. I have for the last few months read this board and all the rubbish that goes with it..
My spleen vent as it were is that regardless of SXXs problems and failings and changes of tract regarding finance I cannot forgive this present government, whom regardless of what people say regarding EU regulations. Our government can and should support this company.. The pathetic response from the government "that every decision has to be based on what is beneficial to the taxpayer and to protect that money for them" is unbelievable. We only have to look at 2 government led instances to protect the taxpayer and give value for money. The bank bailouts of 2008. There have been many many figures banded about but the actual bank bail outs came to £500 Billion and subsequently large chunks of these loans were sold of at a loss of 10s of Billions of Pounds to the taxpayer. The second is HS2 . We have heard recently that the present figure of £56 Billion could rise by another £36 Billion to complete with no definite completiion date. Now I am all for progress but to build a railway to Birmingham and the noth which travels at some 250 miles an hour and still arrives late is pointless when the whole railway system in this country when one looks at past statistics our present railway system is worse then it was 100 years ago. Today we may spend upto £5000 on a season ticket and for the whole year never manage to find a seat. Our government might look to progress with grandiose schemes costing 100 Billions but they ignore the problems that are already there and the also the great projects like SXX that help will build the foundations of this country long into the future and benefit everyone..

Though we get very little information regarding SXX from CF and BOD be assured that everything is being done to not only raise fiance but also to protect SHAREHOLDERS. CF is not only about delivering what he has promised but to do so in a manner that enhances the profile of SXX long term. .He has always said that SXX will one day become a FTSE 100 company and that is what he will deliver. I know he has his back against the wall at the moment but he is not stupid and has many options to persue.If a plan came out which destroyed present shareholders and that includes the Qataris and Norwegian wealth funds and investment funds then SXX would become a pariah company sitting in the Yorkshire Moors making money for a few bankers dubious characters etc. I said before if this happens no MP/MINISTER will ever be able to set foot in the area for the next 100yrs. Sxx not only promoted the mine and its contribution to the immediate area it also stated that that the taxpayer would benefit from 100s of millions of pounds of tax payments. Lets wait for the end of this month and see how the market reacts to the proposals put forward by CF. This will give some certainty going forward and hopefully a rise in the SP to reflect these proposals.

I think the petition is highly commendable but I always had the feeling that when you see those smiling faces standing outside NO 10. clutching a petition that the door is opened and the petition taken in and walked all the way to the back door and put in the bin. A few words said in parliament, and the story ends.

What planet are you on. SXX said 6 month review. Laid off workers ,yes but continuing on a reduced schedule. Everyone is expecting an RNS either way shortly. This is not going to happen, If and its a big if some entity comes forward and SXX can accept the terms then you might hear something in the next 2 months. SXX are in a very precarious position and the next move they make I feel will be the last one so do not expect to hear anything this side o f xmas as SXX position themselves to solve the problems and move forward.

Dantheman

When the bonds did not sell I smelt a rat. Looking at the stage 2 financing part 1 equity issue 400m was raised 2nd part 450 million convertible bonds sold. There was a great amount of interest in SXX from all quarters so why were the last tranch of bonds not taken up.. I believe that the banks and really big investors know what a great and profitable company SXX and the project would become so they collectively shunned the bonds knowing this would decimate the share price and put SXX at the mercy of the banks and large investors. SXX and the shareholders never saw it coming. They were sucked in and then tripped over. This is corporate theft of the highest caliber and as always the genuine small investor loses out. This mine will be finished and highly profitable but it will be in the hand of the banks and larger investors.

Come to the conclusion all the negative twits on here are more than likely very sad lonely individuals, jealous that they hold no shares in SXX as have spent all their money on therapy sessions for multiple mental and physical issues, most likely inferiority complexes and impotency issues.

Sorry it would also benefit dear Gina

Well Metro bank have just returned to the bond market and asked for more than the original amount, asked for. This has been accepted and the bonds were well over sunscribed. I know SXX is a different kettle of fish with different risks and business model but they do have a proven product much in need. SXX have to somehow lower the risk factor without wiping out ordinary shareholders. They would become the most hated company in the country if they do and any Conservative MP/Minister would never be able to set foot in Yorkshire again. Its simple back this great project and everyone reaps the benefits. Shareholders,bondholders, HMRC the local community the Conservative Party and the country as a whole. Do not let another of Britains great projects fall into foreign hands. Buy British its the Best

SXX will get the job done no doubt about it. LTHS take note, if you look at the share graph for the last month and last year thats the bad times. Just flip it over and that will be the share charts when the finance gets sorted. Hold firm and you will all be rewarded.

Automatic trade of 27 shares for 98p ?? Some of these trades are ridiculous why do they happen??

There is very much a contrary view of things going on at the moment. Everybody even Motley Fool believes the mine will be finished and production will start, yet SXX cannot raise the bond money £400 million because of the risks involved. If the risks are so great then why would a major mining company or other entity be willing to risk £3 Billion to finish the job. Surely it would be safer for a large investor to either put up the bond money or guarantee them for a large return on that investment with some dilution or outright ownership percentage if things went wrong. less risky. People keep on saying when the financing has been sorted. Well they screwed up the first attempt at stage 2 and then completely screwed up the second attempt at stage 2. What financing options are there then without dilution??

You just lost 20k on a horse and then you walk back into the bookies and put another 20k on the same horse at much higher odds. same thing

If the brokers are basically saying its not going to be built. What do they know??

Like you and alot of LTHS I agree that SXX and the BOD had at one time everything under control and then threw it all away together with the hopes and dreams of thousands because I believe there were huge financial incentives from JPM or something else dodgy that we will never know about

Can someone tell me the original stg 2 finance plan before SXX aborted and moved on to the JPM plan. Could this be resurrected or something similar followed. I seem to remember that it did surround government backing.

Would not ICL be the perfect strategic partner with SXX as there could also be synergies relating to costs expertise etc or are they not a big enough company at 5 BILLION valuation ?????

Yes it would be nice, but unlike the Norwegians who put all their oil revenue into their wealth fund which is now the biggest in the world, we put all our oil revenue into paying the benefits system. Who's the winner ??