Sirius Minerals Share Discussion Threads

[rrb] 11/11/2019 10:39

Johnwise - I see 2 have recently covered some and 2 have added to existing shorts. What am I missing? If you are right, and this is confirmed over next few days that the covering has gathered pace, then this thing doubles very quickly and, as usual, will likely overshoot to upside and we could even see 7-8p.

[not my real name] 11/11/2019 10:37

Morning 11%,

So they now need to raise $600m which is exactly $100m more than they failed to raise last time! CF is, as ever, hopeful this can be achieved. Meanwhile he continues to trouser £10k a week for the foreseeable future.

In the interim they have dispensed with the main shaft sinking and have employed Snowhite and the 7 dwarfs to dig the service shaft and the shares have gone up 15%.

The fairy tale continues and the locals are buying even more shares!

Good luck to them all. I just hope it doesn't end in tears again!

NMRN

[11_percent] 11/11/2019 10:35

So the reality is 19 meters a day average tunnel boring, 2250m completed. MTS available in the year 2024 or 2025. Launch date of Drive 3 TBM unknown. Deferred for 12 months? Drive 2 TBM abandoned. Depth of Lockwood shaft unknown. Production shaft suspended at 120m, no change since 17th Sept update. SBR not installed in service shaft now at 119m, increased by 1 meter since 17th Sept. SBR not to be installed in service shaft until ‘full development scope recommences’

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

What is SBR.

They are saying that the initial £600 million will be used to de-risk the project (to get the rest of the cash)……...and this de-risking includes sinking the service shaft.

[11_percent] 11/11/2019 10:31

kreature
11 Nov '19 - 10:04 - 45665 of 45667
0 0 1
MTS Woodmith access shaft no change since 17th Sept at 115m. First Polyhalite 2022, but MTS not ready to transport it to Wilton until 2024/2025.

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

kreature,

What is the story about the MTS and Drive 1.

They have the TBM is the start of the tunnel and it is a big job to get it back out. Is this the case.

[11_percent] 11/11/2019 10:29

There is nothing here we did not already know:

They have six months to get some cash = £600 million.....if they don't get the cash they go bust.

They need to the £600 million to sink the service shaft...….this will de-risk project (ie get through the aquifer zone...which the Banks saw as a project risk and muckshifter has described)

They say the £600 million will also complete Drive 1 tunnel/MTS. I am not sure about this de-risking anything. I was under the impression that once the TBM was in the Drive and started it was just well to carry on.


Then they need £2.5 billion to complete the project.....we know this.

Strategic Partners...….ok, they have had some Carpet Baggers looking for a bargain.


Conclusion...…..mr.oz does not need to up-date the finance section in the header.

[zen12] 11/11/2019 10:24

Watch this correct itself - Extremely good update today and very positive Investor call.

[kreature] 11/11/2019 10:04

MTS Woodmith access shaft no change since 17th Sept at 115m. First Polyhalite 2022, but MTS not ready to transport it to Wilton until 2024/2025.

[kreature] 11/11/2019 09:50

So the reality is 19 meters a day average tunnel boring, 2250m completed. MTS available in the year 2024 or 2025. Launch date of Drive 3 TBM unknown. Deferred for 12 months? Drive 2 TBM abandoned. Depth of Lockwood shaft unknown. Production shaft suspended at 120m, no change since 17th Sept update. SBR not installed in service shaft now at 119m, increased by 1 meter since 17th Sept. SBR not to be installed in service shaft until ‘full development scope recommences’

[davethehorse] 11/11/2019 09:50

Fools Gold??

[tradeforce] 11/11/2019 09:37

Reminds me of Wiggins

[ialwayswinatmonopoly] 11/11/2019 09:07

Current cap GBP250m. Capital required GBP650m. Rights issues of full requirement will leave share price at below 1p

[johnwise] 11/11/2019 09:01

Chris Fraser Managing Director and CEO of Sirius, comments:

"Our focus during the first phase of the strategic review has been to reassess the best ways to unlock the value of our project for our shareholders, our community, the UK, and our customers all around the world.

"Our analysis has identified a two-stage development plan that enables us to achieve the key de-risking milestone of first polyhalite, when the service shaft reaches the polyhalite ore body, with an upfront capital requirement of $600 million. The additional works required to reach an installed and ramped up production capacity of 10 Mtpa contemplates up to US$2.5 billion of capital expenditure.

We are in discussions with potential strategic partners and debt investors with the aim of securing the best route to finance our revised initial scope of work and will update the market and our stakeholders on the progress of those when appropriate.

[johnwise] 11/11/2019 08:59

"So what you want to see, if this thing is to recover, is the numerous hedge funds who are short, covering their shorts". That's what the hedge funds are doing take a look at your monitor

[kennyp52] 11/11/2019 08:58

Pump and dump . Got to raise 2 lots of $600m or dead in the water . Anyone buying is likely to get burned again IMO .

[davethehorse] 11/11/2019 08:41

Stating the obvious again #clown

[rrb] 11/11/2019 08:34

The clever have been short this thing all the way down to 3p. There are no 'clever' investors who are long. The ones who have stayed long, me included, have been wrong.

So what you want to see, if this thing is to recover, is the numerous hedge funds who are short, covering their shorts. Until we see that, the shares won't move much higher. So these hedge funds will be assessing, as we speak, this news release and what it means going forward. If they cover then we can take that as a signal that the bottom is in.