Sirius Minerals Share Discussion Threads

[pvpower] 18/7/2018 11:17

Hi PPVN - re 32967 - can you forward the link re marine fuel oil and polyhalite? Struggling to imagine how they are connected right now, but I am a few years into retirement! regards

[eurofox] 18/7/2018 11:13

if there are any CBs in stg2 financing then I would quite like to participate if the CBs are about the same chunk size as the last lot

[ppvn] 18/7/2018 11:03

Convertible bonds are still debt...

To clarify - and we discussed this a while back - I am hopeful of stg2 being vanilla repayable debt. But that tweet does not confirm that stg2 will be non-dilutive. If it's entirely repayable then great, if a small amount of CBs, also great but slightly less so, if a large element CB related I'll be disappointed.

[ialwayswinatmonopoly] 18/7/2018 10:59

The tweet says 100% debt. To dilute would involve equity not debt.

[ppvn] 18/7/2018 10:53

Thanks for the Twitter link. I'd find it even more reassuring if they had said it would be "non-dilutive" debt!

[11_percent] 18/7/2018 10:41

Don't have time for this at mo.....meeting a guy at the pub at 11....already late......will get a few vodies in and come back.....

[carla1] 18/7/2018 10:37

Great find Chris...shuts someone up :-)

[chrisatbirdies] 18/7/2018 10:19

Fao.11per cent.
Check out @siriusminerals’s Tweet:

[ppvn] 18/7/2018 10:07

Hi Chrisatbirdies, ha thanks! I didn't actually go anywhere but I had a few things on that have been occupying a rather large proportion of my time, so hadn't had much time for posting - not that I've been able to note anything of earth shattering importance in any case!

As NMRN says, would be nice to see a few more TorPs in the bag but I'm personally confident in the board to deliver what they need to. I read an article recently with regard to the changes in marine HFO sulphur content from 2020 which should be even more positive for sxx in the mid to long term.

Find it fascinating that the efforts to clean up the atmosphere have basically provided us a marketplace for poly4. But then that's just me!

Onwards and upward!

[teataster] 18/7/2018 10:01

Twitter comment by SXX:

[kkclimber56] 18/7/2018 09:21

11_percent

A word of advice. Ranting like an adolescent teenager detracts from any substance your posts may contain.

[chrisatbirdies] 18/7/2018 08:41

There has been plenty of progress if you look.i believe you will be proved wrong about the dilution.but like me you just have an opinion and that's all it is.no need to be rude.i can assure you I am for real and my opinion is as good as yours.know it all and that you are

[11_percent] 18/7/2018 08:24

Usual moring rise and drop......keep em coming guys...

[11_percent] 18/7/2018 08:23

Welcome back ppvn.boring times indeed for the s.p.but plenty of news coming out from the company.i am sure the share price will soon reflect the progress that is been made.


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the progress that is been made...

Are you for real......we don't know what "progress" has been made on the Stg2 finance deal......although, behind the curtain, will be a "done deal".

The construction risk is in the shaft sinking.....and THAT aint even started.

[11_percent] 18/7/2018 08:17

I still believe the potential return for investors here largely rests on the successful completion of the stage 2 finance package. If dilution doesn't occur or is a low %age of the total package (which I'm still hopeful of them achieving), then we will do well here.

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"rests on the successful completion of the stage 2 finance package"....no, it is all about the construction of the mine....and in particular, the sinking of the shafts through the fractured rock and aquifer zones.......this has been covered by muckshifter.


"dilution doesn't occur or is a low %age of the total package".....well, you can forget that......the loans are not happening because of the lack of PoT offtake agreements......this will be dilution city with billions more shares issued, at mates rates.......same as Stage1.....just the way it is.

[11_percent] 18/7/2018 08:09

Reported shorts not moving in line with expectation. I mean by this that our CB holders are still disposing of shares and the percentage short isn't tracking the shares - so I personally think there are some holders short below the 0.5% reporting threshold.

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They don't need the shorts, if they have done deal, and have a guaranteed buyer at over 30p.

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[chrisatbirdies] 17/7/2018 21:39

Welcome back ppvn.boring times indeed for the s.p.but plenty of news coming out from the company.i am sure the share price will soon reflect the progress that is been made.

[ppvn] 17/7/2018 11:21

Boring times on the good ship Sirius. Couple of observations I've noticed.

Reported shorts not moving in line with expectation. I mean by this that our CB holders are still disposing of shares and the percentage short isn't tracking the shares - so I personally think there are some holders short below the 0.5% reporting threshold.

Blocklisting of 782mm shares is quite interesting since there were still 11.3mm still available to allot as of 3rd July. So I personally suspect there are some conversions going through (why else would they blocklist more). The most recent blocklisting will take us through to the point when all CBs have been converted.

It's very dull being a shareholder here at the moment but I'm still of the view it's a worthwhile position to hold. I've largely switched off from the intraday movement and am reassured that we aren't dropping back into the 20s. But then that was kind of expected when the incentivised conversion take up was low.

I still believe the potential return for investors here largely rests on the successful completion of the stage 2 finance package. If dilution doesn't occur or is a low %age of the total package (which I'm still hopeful of them achieving), then we will do well here.

Fingers crossed anyway, here's to the future for sirius!

[not my real name] 17/7/2018 11:21

Fair enough. Shame we can't have an actual bet because I think I would take you on with that one!

NMRN

[ialwayswinatmonopoly] 17/7/2018 11:13

They had letter of interest in 2016 based on their projections. The letter of interest has no legal substance and merely responds at a conceptual level, which at the very least confirms that the application meets the criteria for funding.

Not having 7m take off is not a deal breaker but it might have a influence on the details of the deal. The time scale for things of this nature are fixed and it is vitally important for the company that they have the commitments from the institutions in place for the steering committee to deliberate and decide on if they are to achieve stage 2 financing been squared off by the end of Q3 and for this to happen commitment letter needs to be in now.

CF stated in his latest conference call that the commitment letter is expected in a matter of weeks but hinted at already having in hand sufficient support to give them confidence to proceed.

I like a bet and I'm saying this week.

[not my real name] 17/7/2018 10:57

Hi Monopoly,

Why do you think we will get a commitment letter this week without news of at least 1 TorP?

The banks have already stated their interest in this project to the tune of £100 million per bank for 6 banks but they have also stipulated 7 million tonnes of TorPs as part of the deal. We are currently on 4.7m which is only two thirds of the way there.

NMRN

[ialwayswinatmonopoly] 17/7/2018 10:30

Predict 1. Commitment letters this week

[funtimejonny] 17/7/2018 10:26

A few torps would come in handy....

[11_percent] 17/7/2018 09:35

Morning chaps......what's happening.

Sp seems to be a bit range bound......never mind.

Soon be end of July and this deal (Stg2 finance) needs to get done.

[not my real name] 15/7/2018 17:51

Hi monopoly,

Can't see either of those things next week but it would be nice if you were right.

NMRN