Member Info for woolverstone13

That's about 220k bet not very big

Agree as who ever they have lined up for investment/partnership have not come to a decision by xmas they are not going too.

Bad news would only come right at the end. We cannot in all honesty expect an RNS from SXX until after the election results in Decemeber. So much depends on the election regarding SXX and a majority Conservative government will mean Brexit, the pound rallying, a tidal wave of foreign investment and the very small chance of a government guarantee as the EU shackles will have been thrown off. Not only that the potential investors/partners at this stage will have so much more certainty. It will come good, just have to wait.

Just read the article. That would be a wonderful outcome for sxx. Here's hoping.

Thanks

I know shareholders set stop losses but these can fail and I am sure short sellers constantly set a buy price but what scenario would completely wrong foot the short sellers. Forcing them to buy at a much higher price they make little profit or lose their bet

Because whilst there is slight demand there is no problem finding sellers. The Sp will only rise significantly on good news with higher demand and sellers not willing to sell unless they get a better price

Here's hoping

Are we all being over optimistic regarding the next stage in the financing as we cannot accept the thought of a disastrous RNS which would wipe us out. How many start ups that are down 85 percent and only 5 months working capital left manage a major turnaround??

Expecting the next RNS to come just after the election to achieve maximum coverage and hopefully large re bound in SP. with good news forthcoming on next stage of this great project.

Motley Fool is at it again with a pointless article on why Warren Buffett would not invest in SXX. Its just basically say that hes so smart he wouldn't touch SXX an we LTSHS know nothing and are stupid. Do they ever write anything sensible?

I agree more shares are unlikely so has to be debt. What concerns me is in the webcast the 1st question by jpm pointed out that whilst the savings of 100s million by the review that the overall cost of the project had not changed. Cf said this was because the time to complete was extended so really all the savings are lost further down the line

Looking forward to Monday morning after seeing some nice buys after the close

Thank you ffcmember

How does one view the latest webcast ???

The company are at present looking to raise $ 600 million by somehow de risking the entire project and stating that it would then enable them to return to the inacial markets to raise the remaining money at a later day some 2 Billion.
What really concerns me is that they failed to raise the stage 2 $ 500 Million at a so called 15% which had surely total derisking of this amount by the simple fact that it then unlocked the JPM £2.5 Billion of credit. Can someone explain what I am not seeing

I think the Motley guy has finally cracked. Hes going to buy into SXX . Hope its more then a £ 1

Yesterdays RNS has done nothing to alleviate my fears going forward. Reading between the lines it seems CF is doing his utmost to stop a complete takeover at some ridiculous price when the money runs out. The cold hard truth is that SXX is on its knees begging for money from anyone and trying to sell a revised plan to the markets trumpeting cost savings and de risk features. All very well but at this sharp end of business any serious player will just take the whole lot on for a pittance and reap the rewards. The stg 2 finance I always felt was a bit dodgy with JPM offering 2'5 Billion when the risks were even greater then. Admittedly it came with the caveat of raising the 500 million bond first which should have been a formality with the 2.5 billion in reach, but I personally feel it was set up this way to fail with JPM immovable on the terms. This trashed the SP leaving it at the mercy of predators and shorters. The shorters piled in because they knew the bond would fail and they would clean up. Bearing in mind SXX have still to borrow 3 billion from somewhere over the term I cannot see anything other than a buyout more than likely out of administration. Unless of course there is a benevolent mining company or very rich investor willing to put up the money as debt for a large return without taking out the present shareholders completely. Stavely sorted the money for Barclays from the Qataris maybe we need to bring her onboard to seek out the funds.

Be interesting to see the major newspapers tomorrow and if they show anything positive in their stories.

They only need to buy £ 200 million pounds worth of shares and they own the company outright