Sirius Minerals Share Discussion Threads

[lenses] 24/7/2018 09:58

CTRL F > "mandate letter" will bring up a lot on the St2 prelim deal.

For people's interest I'll copy over an opinion from Myo on MS's opinions here, just put up on Red. We all have opinions, best most times to just see them as that if without any independent verification:

"Scotman....another read of muckshifter this morning on the other channel and suspect that rather than being a direct deramp.....he has listed up a basic to moderate understanding of the project, then gone on to list through his repeated "superior" experience (whilst separating himself from "others".....everyone else fixated on torps) why so many aspects of what CF/TS are in the process of bringing in, could/will go wrong. There is no balance......the reference is always to his "experience" (of which we have no proof) and little in relation to what CF/TS/Sirius have presented over the years and the flexibility with which the project has been run to achieve.

As I mentioned last night, I remain very uncomfortable that someone has to repeatedly profess that they are "the " expert........I feel that is something for the community on a board like this to judge over time with repeatedly knowledgeable contributions. And I ask the question again......if someone is that convinced that Sirius is a bad investment......really......they would selflessly sit there and warn others of the pitfalls......am I missing something.

Although most of the points listed have a relevance, they are all skewed opined or manipulated as to how they are or will go wrong, with no mention of potential merits......

In my opinion, the project as a whole is an infrastructure project not parts of it........"the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living condition. Infrastructure thus consists of improvements with significant cost to develop or install that return an important value over time."

Even so, lets just take the first argument......ms alludes to just the "MTS and delivery system" qualifying under the scheme......and that the MTS is a "relatively small proportion of the project cost"......no evidence.....ok, here it is

From the DFS, Feb presentation pg 23......

hxxps://siriusminerals.com/downloads/investor-presentation-february-2018/

Overall capital estimate for stg1&2, $2.9bn (this is just capital and not cost of supporting loans).......capital estimate for MTS and delivery systems....$229 + $857m = $1.1bn....just shy of 40% of the capital outlay....

I don't see 40% of capital outlay as being a realtively small proportion........and I also don't see the mine site development as not being infrastructure (@ $977m....just shy of a further 35%)......already up to 75% ...

Scotman......I really don't want to waste any further time countering unevidenced opinion......but the above should be a good basis for other readers to judge the credibility of the rest?"
==================
My opinion? I don't think Sirius BoD would have persisted this long and this late in the day with this carefully choreographed timetable re St2 (inc CB clear up) if they had any inkling it was likely to fail. But then again they are in part in the hands of one of THE most distracted and cack handed Govs in living memory, so who knows eh?

GLA

L (GK).

[anley] 24/7/2018 09:17

Are you able to post a link to these documents so my legal eye can have a look?

Thanks.

[muckshifter] 24/7/2018 08:59

Thanks Not My Real Name, I found the intended loan arrangements after your post 099 and was surprised to find it laid out as you said.

It really does explain the words such as Vital and essential used in Sirius documents in terms of the government guarantee. It appears to leave the banks effectively in control of the interest rate cost for the whole loan, without having to risk much of their cash!

[2theduke] 24/7/2018 08:34

Hi Not My Real Name, where did you find out about the 6 banks at $100m? I've missed something !

[11_percent] 23/7/2018 21:32

eurofox
23 Jul '18 - 18:33 - 33115 of 33118
0 1 0
defending 35p getting increasingly difficult?

expecting a very large buy at good price to emerge at some point.

================

Indeed.....35 is going to fall.

I expect the share price is going to increase.....but some naughty chaps in the know......are jumping the gun.

[prmoldoaks] 23/7/2018 21:00

hxxps://www.yorkshirecoastradio.com/news/local-news/2640323/whitby-potash-funds-skills-programmes/

[prmoldoaks] 23/7/2018 20:58

Broke above 35p today, if we can get over the 35P and hold tomorrow we could be in a breakout phase all the way back up to 45p next resistance level.

Surely for investors at the moment, there is far more upside potential than downside risk, more forward orders and financing commitments to come.

The recent site closure due to health & Safety incident (negative news) had little if no impact at all showing the strength in the underlying trend

[stoaty1] 23/7/2018 20:09

11%, you really are a prize Pratt.

[eurofox] 23/7/2018 18:33

defending 35p getting increasingly difficult?

expecting a very large buy at good price to emerge at some point

[christopher logsdon] 23/7/2018 16:27

11% what is going on

[christopher logsdon] 23/7/2018 16:26

Just looked at the chart was it 32 million volume Friday if so why so high?

[stoaty1] 23/7/2018 16:01

Sorry, wrong thread!

[carla1] 23/7/2018 14:22

Good afternoon fellow investors..Looking good

[coolhandfluke] 23/7/2018 14:14

I bought a few more Friday a.m. at 33.8ish so glad share price moving in right direction, for me anyway.

[eurofox] 23/7/2018 13:43

no problem

[11_percent] 23/7/2018 13:11

11_percent
23 Jul '18 - 08:44 - 33084 of 33105  Edit
0 0 0
carla1,

What's going on.....we are heading for 35...can you bring it back please....

==============

Thanks carla1.....now KEEP it under 35......

[mirabeau] 23/7/2018 12:41

Danakali floats next week though it's Eritrea based which is rather risky to say the least relative to SXX

[stoaty1] 23/7/2018 12:12

eurofox, that would be perfect for me,many others, and I guess Sirius!

11%, do you know that for a fact, if so please provide proof. If no, as I expect, please try and refrain from your usual brand of wild predictions one way or the other, the direction depending whether you are long or short at that moment in time!!

[11_percent] 23/7/2018 12:04

I knew you would turn up........2 for 1 you say......

[eurofox] 23/7/2018 12:02

I have made cash provision for a 2 for 1 share placing at a 10% discount

[11_percent] 23/7/2018 12:01

"have to wait for the loan details in due course."


You can at that again......the deal is stalled...

[anley] 23/7/2018 11:58

So here is another idea..........lots to play with Muckshifter and maybe you did what you say but the fact of the matter this project will take place even if it starts to rain again and causes a delay.

Thanks for your input but we will all have to wait for the loan details in due course.

[not my real name] 23/7/2018 11:32

Hi Muckshifter,

I am pretty sure the financing isn't geared up the way you say. I believe that the banks have to raise $1bn in private finance. (6 banks have already agreed in principal to $100m each) The Government then issues a gilt edged bond for a further $1.9bn. This bond will carry a coupon of around 2%. Whatever interest rate is demanded by the banks will be matched by the Government who will charge that amount to Sirius but keep the difference as their "fee."

If anyone has any different ideas please raise them for discussion. Factual, rather than gut feelings please.



Sirius is on page 48 of 60

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