Member Info for woolverstone13

Apparently they do not have to let us know or put out an RNS to say they are now re entering the market. As far as I am aware they would just have to get all the letters of purchase signed by the buyers (fingers crossed) this can be done electonically so in a couple of hours I guess and then inform the market the bonds have sold.. What ever happens it will be very quick and hopefully not painful

STAY CALM. The financial papers at the time of the bond withdrawal were stating that SXX were going to have to pay 13.5% interest as that was what the bond buyers were asking. If that is the case then the only consensus I can make is that SXX could have got the bonds away but were not willing to pay such a high price and so withdrew from the offer, hoping things improved. They have and I would say SXX are now fully engaged in thrashing out a good deal for themselves and their shareholders . All the other reports ie government guarantees, warrants are just pure speculation. I believe that the bonds will be sold before the end of the month with something around the 9 to 10% range. Yes I am speculating but, but it is logical

Longest period without any form of RNS since April !!

Post by Bigbubble 12.11

The wording "update" is a little worrying. Sounds like something is afoot ie an alternative plan??? At the moment we are in the Bankers cross hairs. Lets hope they are not manipulating the company where by they can move in and take over the whole lot on the cheap!!

Maybe just maybe the bond process will not start again and SXX together with JPM have since the bond offer was pulled been looking at an alternative plan and we will be updated on this before the end of the month. SXX have changed track in the past and it be that JPM have already agrred to an alternative plan to release the funds need to finish the mine. All is not lost until its lost.

Get the deal done, the suspense is killing me. I feel the longer this goes on the worse it will be for shareholders. Not sure of the bond process but when you read 49 bond deals done in one day what are SXX waiting for. The market could not be better and the window of opportunity is there for the taking. If we hear nothing this week the I will fear the worst and the bonds have been rejected by the market, but having said that with all whats been achieved up to this point it would make sense to fall at the last hurdle

There were 2 sells of 3900000 this morning. not sure what the connection is though

After another bad and biased write up from MF I dream of the day MF write a series of articles headlining Don't buy ABC Company buy Sirius Minerals if you want to get rich. Pigs can fly.

Nice to see on the FT page that the 3 advisers have now advised SXX as outperform the market with strong buy and 12 month high of 40p low of 17p and mid range of 28.5p. I would be happy with any of those as puts me back in profit 15.8p average buy in price

I had a strange dream last night. I was standing in an enormous field covered in small grey pellets and watched as a tractor came towards me. It stopped and a farmer climbed down from his cab. I asked him what were all the grey pellets. His reply was " POLY4 its the future of the planet" Either a good sign or I need to come off this chat room and get out more.

should read delayed publication trade ???

Just seen a buy trade for 5'5 million noted as a delayed trade. Whats that about

If one looks at the short seller graph for the last 2 years the percentage trade in quite a tight range until July 2019 when they increased dramatically. Before the bond issue withdrawal. Insider knowledge or just luck. I am a sceptic, but seems to prove the shorters are right most of the time so any reduction is welcomed here

Thank you Rogue River. Are you also saying that if the convertible bonds are being swapped for shares then someone is expecting good news and would rather hold the shares than the bonds?

Can someone please explain TNCPs in baby language. Thank you

Ones viewpoint of the situation seems to change on the vaguest of news. News reports ,posts on here. The one constant is that SXX have said absolutely nothing , diddlysquat since their last RNS which in itself was vague. We may have to wait until the end of the month or even early Oct before any news is forthcoming, by which time most LTHs will have turned grey haired if they haven't done so already. I like to think everything is ok but niggling doubts creep in. which I guess is a normal reaction when you have money at stake. The project is 1st class the work progressing well. Finance to this stage has been forthcoming so why should the bonds not sell if the big investors are already on board . Nothing at the mine has materially changed, on time and on budget. Everyone has known the stage 2 finance details so would not have invested at the first 2 stages some 850 million if they even for a second thought it would fail at the second Bond issue and all would be lost. Stay calm SXX are working to get the best deal for the bonds and we will all be ok

The total cost of the mine has been put at £5 billion. with 2 billion already raised from some of the worlds top wealth funds and investment companies. We have JPM willing to put up 2 billion RCF . The US junk bond market is at record levels with BB rated bonds being snapped up at an interest rate of approx 4.5%. Does anybody really believe that the company will fail to raise the next tranch of bond money. and where did the 13.5% come from? Take a step back and look at what has been achieved so far not only at the mine but in the raising of finance and the backing of big players who are quite capable themselves of stumping up the money for the bonds to protect their already large investments. They would not sit back and watch hundreds of millions of their investments just disappear . They have shareholders as well to protect. Logically there are so many options from this stage on and CF will get us across the line. the mine finished and the share price will rise dramatically. Watch this space.

Both the Times article and Teeside Gazette again offer only speculation as what might happen and then say so and so says. Someone they spoke to over a pint who also had a vague idea as to what might or might not happen. These reports are all unfounded with nothing to back them up so should just be ignored. The only people who know exactly whats going on is SXX and JPM and neither will make any comment to anyone , shareholders or reporters. Personally I think the bond deals have basically all been done and SXX are just waiting for final signatures etc crossing the Is and dotting the Ts and will when everything is in place release the RNS Bonds sold under better terms then last month with no changes ie warrants etc attached. But then I am only speculating.

Very interesting and proves SXX are on to a winner. Investors should be all over them and the bonds should fly off the shelf