Sirius Minerals Share Discussion Threads

[coolhandfluke] 09/5/2017 13:42

PPVNI'm glad you didn't go into too much detail. Cheers.

[svenice7] 09/5/2017 13:10

You could also draw a long term chart and with a linear trajectory, SXX will be £2 in 2030

[peteship] 09/5/2017 13:03

You can draw a trend line from the 48p high in August to the 40p high in October to the 26p high in April. Descending wedge with support at 17p perhaps ?

But I'm no chartist.

[ppvn] 09/5/2017 11:59

Hello fellow paint drying / kettle boiling / grass growing watchers. And in particular, Casapinos. Last week you asked what strategy I thought the funds holding our convertible bonds might take, and it wasn’t really something I had given much thought to, since I was fairly confident that they would be selling up and moving on as soon as possible. But, having decided to not take anything for granted I thought I’d have a sniff around for the offering prospectus for the bonds since that will usually give some clues to narrow the possibilities down. Without going into too much detail, it was a relatively fruitless search since I couldn’t find a copy – but the relevant bits I was hunting for have already been released in RNS’ that I subsequently re-read – so points there to me for wasting my own time. I have also been keeping a not-too-close eye on the aftermarket trades which will typically be purchases, or in our case, sales from institutions, so it’s fairly safe to assume (and it is an assumption) that these are short sales being added to the already disclosed 160mm. Last filing for an increase of short position was on 26th April – so hopefully the 160mm number is a fair bit higher today – and we will find out of course soon enough – but in a nutshell sales are still continuing at this price which shows that overall there are more buyers than sellers of our stock since we know there are “mandated̶1; sellers (i.e. our funds that are disposing of shares). The market continues to absorb them, which is a positive for us. Anyway, the pertinent RNS that I mentioned was made on 2nd November at 7.14am – “Convertible Bond Offering”. I’m pleased to say that what I was looking for is indeed present, and there is an early redemption clause in there for the company – I believe the first bullet is the most relevant to us. I don’t think that we’ll get any further along than Dec 2018 (and as I’ve previously said, I don’t think it will take anywhere near that long, I think our share price will increase more by that stage etc etc) so basically the convertible offering has seemingly been used as in effect, a open ended bookrunning. What that bullet in effect does, is limit the upside of our convertible holders to a maximum of 75% upside in shareprice (unless they convert and then hold) – to redeem at par plus accrued interest would result in a loss of the upside associated with a sale of underlying shares and conversion of bonds (as we all know par would be $200k + accrued coupon fraction). So to follow on our discussion of last week, nothing I have seen suggests they will follow any other path than simply selling the shares into the market, make a hopefully quick profit, and move on to the next bond offering. I’m pleased to see Sirius seem to be doing well keeping our profile up; market volume is what we really need at this time.

[11_percent] 09/5/2017 11:30

Nug, don't know much about Bed and Isa, never done it.

[nugacity] 09/5/2017 00:17

I appreciate John , Oz

Hoping for a price rise today

[mr.oz] 08/5/2017 22:54

Has Johnstupid written all over it

[hazl] 08/5/2017 18:20

Who said it was squid??

[nugacity] 08/5/2017 17:17

Bed and Isa ..... has anybody done one since the 28th and been charged stamp duty by a single broker? Off market may mean it is never chargeable ... it was not included on the 28th B&I that they reversed.

[nugacity] 08/5/2017 17:02

Message 27022 got a thumbs down .....

so here it is again ....

11% , I asked Jarvis what is going on with my Bed and Isa and they confirm it was done and backed out after they saw my cancellation email request. A phone call might have been called for in the circumstances but I guess that is why they are cheap.

What does seem obvious is that the contract notes were referring to an internal transaction and there was no third party in the sell and buy ..... so Venue: Off market meant just that?

[squidsgone] 08/5/2017 15:46

Thankyou for your insightful coment, however, it is to remind me that HOPE IS NOT A STRATEGY

[hazl] 08/5/2017 15:08

Certainly if ALL your 'squidsgone'!
Perhaps you ought to get a different handle mate.

[squidsgone] 08/5/2017 14:41

Hope is not a strategy

[hazl] 08/5/2017 13:49

LOOKS like cup and handle to me ....

but what do I know?

[johnwise] 08/5/2017 13:07

Construction formally begins at Sirius Minerals mine

[nugacity] 08/5/2017 12:54

11% , I asked Jarvis what is going on with my Bed and Isa and they confirm it was done and backed out after they saw my cancellation email request. A phone call might have been called for in the circumstances but I guess that is why they are cheap.

What does seem obvious is that the contract notes were referring to an internal transaction and there was no third party in the sell and buy ..... so Venue: Off market meant just that?

[fatnacker] 08/5/2017 09:11

But that's just not the case

[bothdavis] 08/5/2017 08:16

If you think of the planet as 'one nation' it helps to be part of a sympathetic, caring and friendly world!

[johnwise] 08/5/2017 06:16

Emmanuel Macron won, France Lost

[johnwise] 08/5/2017 05:43

Macron Wins: EUR/USD: 'Buy The Rumor, Sell The Fact' - Barclays

Barclays Capital FX Strategy Research argues that the victory of Emmanuel Macron carries the risk of a 'buy the rumor, sell the fact' for EUR/USD.

[not my real name] 07/5/2017 23:26

I prefer "liberte egalite fraternite" to the far rights "interdiction inegalite haine"

Rot in hell Johnwise.

NMRN

[dp1umb] 07/5/2017 22:47

Vive le France