Sirius Minerals Share Discussion Threads

[chrisatbirdies] 01/7/2018 19:50

Hi 11 per cent.
I said in an earlier post that i thought some conversions had happened since the offer.but it appears not

[11_percent] 01/7/2018 17:31

How/why??.......in what way.

[chrisatbirdies] 01/7/2018 16:03

Well I was wrong about bonds been converted.

[ialwayswinatmonopoly] 29/6/2018 11:22

Maybe they've not made any orogress

[thanksamillion] 29/6/2018 10:18

Where is our Quarterly progess report?

[johnwise] 28/6/2018 16:07

Thursday, 28 June 2018 15:00

World Fertilizer Magazine

Major work has begun on the first part of Sirius Minerals' 23-mile long tunnel which will be used to transport fertilizer underground between North Yorkshire and Teesside in the UK, ready for export around the world.

[anley] 28/6/2018 10:03

NO as this is a Brexit - f.....off EU deal when the final negotiations take place................we shall wait and see.

[borisjohnsonshair] 28/6/2018 07:56

They could announce a rights offer for the 1st Jan 2019 at 100p a share (!!), 2 for 1 for holders! That would make the price rocket! If the price was 100p it would have an MCAP of £3B. 50% dilution to raise the cash. Price would remain stable if the company was valued at £6B. On production it should have PE of 12-20, so that valuation would be 50% of true value. This is a ludicrous suggestion but it highlights the craziness of today's price! What's the worst thing that could happen - no funds. Then an auction would start by the big boys! Who wouldn't buy SXX for more than 34p a share if they had easy access to £2B. Does the government want that?

[eurofox] 28/6/2018 07:32

I have made provision for doubling my holding even at the current price because I quite like the idea of adding a discounted share for each one I am currently holding

[borisjohnsonshair] 28/6/2018 07:26

That is simplistic and the dilution would be 75%, however a fully funded SXX would be derisked. With a annual profit of £1B and PE of 10 it would be worth £10B. The only barrier, if derisked, and that level of MCAP is time. I suspect there could be a rights issue without a great lose to existing holders. They could offer existing holders a discount.

[christopher logsdon] 27/6/2018 09:59

Thank you for that much appreciated

[ialwayswinatmonopoly] 27/6/2018 09:53

First stage funding was a combination of a) a rights issue where existing shareholders bought more shares at a discount and b) issuing convertible bonds (unsecured loans to the company in exchange for high interest payments and the chance to convert the debt to shares at a fixed price in the future).If the company failed to secure 2nd stage funding then the project becomes precarious but doesn't fail. There are other options of raising funds. They could go to existing shareholders again and offer to seek more shares at a discount. However, the company is capped at $1.1bn at the minute and $3bn debt is required. The share price is currently 34p so in theory trying to raise $3bn in additional shares would dilute the existing shares to less than 25%.NB the above is an extremely simplistic view

[johnwise] 27/6/2018 09:27

GOV.UK Department of International Trade

[christopher logsdon] 27/6/2018 09:22

This may be a stupid question so forgive me in advance On first stage funding what guarantees do the lenders have?If there was a problem getting second stage funding wouldn't the entire project collapse?Or is second stage funding and unspoken guarantee?

[ialwayswinatmonopoly] 27/6/2018 08:52

Sorry to be pedantic but they've already had their letter of interest it's the commitment letter we're waiting for

[2theduke] 27/6/2018 08:39

Yes, the volume has been really low behind these recent movements, which has put me off.

Also, hello to the board, I'm here from iii given their recent update which killed their discussion boards :-/

Main thing for me are the letters of interest from Funders which we were told are due on June.....

[ialwayswinatmonopoly] 27/6/2018 08:30

The share price on the trades are gapping on very low volume which means the market makers are trying their luck. The share price increase is purely MM anticipation.

[carla1] 27/6/2018 08:25

Good morning fellow investors..The share is so strong some news is on its way and the press are suggesting this..ALL ABOARD

[funtimejonny] 26/6/2018 19:58

Ha ha! Me too...

[not my real name] 26/6/2018 16:41

I wish my snout was in that trough!

I have to buy mine!

NMRN

[11_percent] 26/6/2018 16:26

Are you trying to say the progress will be good.

[ialwayswinatmonopoly] 26/6/2018 15:47

Options now exercised and 'milestone awards' triggered.The board have a legal obligation to report to the stock exchange any price sensitive information so I'm guessing the trading update will be tomorrow (instead of Friday)

[funtimejonny] 26/6/2018 11:05

Good point muckshifter. I entirely agree.

[johnwise] 26/6/2018 10:45

GOV.UK Department of International Trade

[johnwise] 26/6/2018 10:38

grahamburn, thank you for that update

"The potash miner is expected to receive commitment letters from lenders this month before the agreements are finalised in the fourth quarter."