Sirius Minerals Share Discussion Threads

[ppvn] 04/5/2017 09:49

What's not to understand about either the shareprice move or where we are heading from here. Todays RNS is a non-news event since these shares were sold days ago as I previously stated. As I have also previously mentioned in quite some detail, this is going to be a boring few months.

[janekane] 04/5/2017 09:43

What's happened here then,most of the posters here were saying this would shoot higher after the move
It's tanking

[not my real name] 04/5/2017 09:34

blindsquirrel,

In order to get the ball rolling on the mine Sirius had to raise funds. $400m was raised as convertible bonds.
Anyone who bought these is paid 8.5% per annum interest, quarterly in arrears, on their holding for up to 7 years.

They can convert these to shares at any time but the conversion price is set between 25 and 30% above the open offer price. That equates to 24-26p. Someone has now decided to swap some of their bonds for shares.

It could be that they have lost faith in Sirius ability to deliver the mine, they see Sirius as a fantastic investment and want shares rather than bonds or their wife is divorcing them and they need to get their hands on some cash.

There will be all sorts of conspiracy theories flying around soon but only in time, will we know the actual truth.

Hope this helps.

NMRN

[not my real name] 04/5/2017 09:13

dp1umb,

Stop being so negative!

30p tomorrow. She's gonna BLOWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW!

NMRN

[blindsquirrel] 04/5/2017 09:12

Hey guys, bit of a newbie here but can anyone explain the convertible bonds that have just been announced?

[dp1umb] 04/5/2017 09:05

Hit 23p this morning , this should be the new floor before testing 28p again over next few weeks or maybe months.

[jm2009jm] 04/5/2017 08:58

poor carla... PMSL

[johnwise] 04/5/2017 08:33

Waiting for RNS Number to see who has been buying all those shares ?

[spirito] 04/5/2017 08:22

down down deeper and down. don't give them your shares.

[investment dave] 04/5/2017 08:22

Doubled up first trade I've lost on this in a while

[dp1umb] 04/5/2017 08:16

She's definitely blowing! And this is with a tailwind! Imagine if it was a headwind?

[not my real name] 03/5/2017 22:35

Stopaloss,

If they were 265th in the 350 that would put them outside the 250..
===================================================================

Lets try again.

FTSE 100 = 100 biggest companies by mkt cap (i.e. 1-100)

FTSE 250 = Next biggest 250 companies by mkt cap (i.e. 101-350)

FTSE 350 = FTSE 100 + FTSE 250 (i.e. 1-350)

So, the 265th biggest company by mkt cap is outside the FTSE 100 by 165 places.

The 265th biggest company is 165th in the FTSE 250

The 265th biggest company is 265th in the FTSE 350

I am really sorry if you still don't get it but that is the best I can do!

NMRN

[spirito] 03/5/2017 19:46

Stopaloss suggest you pay someone to invest your money

[alphapig] 03/5/2017 19:44

Stopaloss, you got it wrong, show a little grace.

[investment dave] 03/5/2017 19:12

Closed short and gone long. Expecting a big upsurge tomorrow back to 25p

[stopaloss] 03/5/2017 17:59

And? See you're a Wikipedia fan...

[svenice7] 03/5/2017 17:38

The FTSE 250 Index (/?f?tsi?/ FUUT-see) is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange.

[stopaloss] 03/5/2017 17:24

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Not My Real Name 3 May '17 - 10:53 - 26852 of 26872

Nicksig,

There is no minimum market cap for inclusion in the FTSE all share index. The mkt cap only has relevance to whether or not Sirius is included in the FTSE 250/350. At the moment they are easily in the 250/350. Last time I checked they would be around 165th in the 250 so, obviously, 265th in the 350.
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If they were 265th in the 350 that would put them outside the 250.........

[wheeze] 03/5/2017 16:18

Thanks PPVN - that makes sense.

[hazl] 03/5/2017 16:13

Transparency and visibility are so useful in this game.
The returns will be worth the wait methinks.

[ppvn] 03/5/2017 15:48

Wheeze. Please see my previous post for why those shares have been sold short. It is not a position against Sirius; the funds are recouping their investment in the form of Sirius' convertible loan notes. This is why the shareprice will be mundane for the next few months whilst their sales clear. It is also the reason why the shareprice will not fall significantly - because if it drops below 23.86p the funds will purchase to cover; and the roundabout will continue. In summary, buying these shares close to 24p, or slightly below if you are lucky, represents a good entry point.

[wheeze] 03/5/2017 15:43

4.50 % of SXX shares have been sold short. Please see short tracker if link does not work.This means the funds responsible have sold circa 187 million shares they do not own. 187 million shares they will have to buy back some day.Keep on selling and help their cause. After all JPM need the money !

[carla1] 03/5/2017 14:47

John / Goose or who ever you are today ....

Sort it out 25p please x