Sirius Minerals Share Discussion Threads

[graham2405] 24/2/2020 13:08

from casapinos LSE ......"There is a strong possibility that you collectively , could, if you assemble 100+ attendees at next weeks meeting win the "headcount"vote ie a majority of >50% of attendees.If that happens I think it is a corruption of the intention of such provisions and may well prompt legal challenges from both SXX and AAL.That would create a limbo in to which SXX would fall and be declared insolvent"

...and I totally agree with this, it seems that a No vote will force this into an insolvency event.

thus allowing AAL to pick it up in Admin, else walk away.

[djb3] 24/2/2020 12:47

Couldn't agree more bherring27. AAL will be made up, will get it for even less if voted down I really don't understand their logic. I stated it would go bankrupt months ago and a company would come in and get it for buttons. 5.5p is the most they will get, it's not right, but the big fish don't care and AAL will be the big winners.

[bherring27] 24/2/2020 12:44

Deluded the lot of you. There are no new offers on the table. What company in it's right mind is going to help you out if they do not have to. The vote next week is going to pass otherwise you get 0p a share from liquidation and Anglo will clean up at the bankruptcy auction, Anglo are doing the project a favor I would say at 5.5p, That's overvalued anyway, Company with no revenue, Poor management at all levels....It's a caup. CF will walk away fine from all of this.

[nw99] 24/2/2020 12:06

Bought here new offer could come at 7.5 area

[vwcaddy] 23/2/2020 20:13

And Graham seems to forget the Qatari Investment Authority were stepping in with a finance package until AAL made an offer.
It’s not like you Graham to be selective with the truth.

[graham2405] 23/2/2020 16:56

"Anglo American considered offering Sirius Minerals investors shares in Anglo itself as part of its takeover bid, the MoS can reveal."

Well, the penny share buyers were never going to go for a stock price of circa £20.

One pilgrim suggested that any bid should be at least what everyone paid for their shares, he stated that he paid 30p.

These pilgrims seem to forget that before the AAL bid they were weeks away from liquidation.

[waldron] 23/2/2020 07:29

Mail on Sunday: Anglo American considered offering Sirius Minerals investors shares in Anglo itself as part of its takeover bid, the MoS can reveal.

[bigbigdave] 23/2/2020 07:14

Raider Crispin Odey’s threat to lift stake in Sirius Minerals

The hedge fund run by Crispin Odey is threatening to raise its stake in Sirius Minerals if the share price slides, deepening doubts about a £405m takeover of the embattled miner by FTSE 100 giant Anglo American.

Odey Asset Management has acquired a 1.3% stake at an average price of 4.9p a share and is pushing for an increase in Anglo’s takeover bid from 5.5p to 7p or more. It is poised to up its holding if the share price falls back from its closing price on Friday of 5.2p.

Last Wednesday, Odey manager Henry Steel wrote to Anglo and Sirius, saying the current offer did “not represent fair value” for Sirius investors and claiming Anglo “would be willing to bid substantially more”

[bdog51] 22/2/2020 15:00

46927 is clickbait..

[morti1] 22/2/2020 13:53

Yes, to sell at 5.5p is an utter disgrace. Just ridiculous. All shareholders should reject this bid. Better to lose everything under these circumstances and lose all money. I saw this project, the site is phenomenal. To sell at 5.5p is a total disgrace. This is completely ridiculous.

[kreature] 22/2/2020 09:49

And all because of a salty rock? Yeah right

[sharesoc] 21/2/2020 17:10

Our next Manchester growth company seminar is on the 25th Feb: Mark Northway, ShareSoc’s Chairman will be updating members on the work that we have been doing in the last few weeks on the Sirius Campaign and on developments in the proposed acquisition by Anglo American.

[graham2405] 21/2/2020 16:40

"I don't care about AA. It's fraser blood I want"

[pazzuzu] 21/2/2020 16:38

I don't care about AA. It's fraser blood I want

[graham2405] 21/2/2020 16:18

"Odey has absolutely NO intention of voting against Anglo !!"

Cleary Mr Odey is after an extra penny or two, he may even get it, but the PI's seem to want oblivion.

Vote NO if you want to punsh CF and Board, but be under no illusions that you'll be handing over ther company to AAL or the official receivers for 0p.

[graham2405] 21/2/2020 16:15

"If it was as simple as that why make an offer in the first place."

To secure it at a reasonable price.

Also, prepack does introduce 'complications'.

Watch and learn..... ;-)

Vote fails, and AAL either walk away or prepack, you can bet that the lawyers are already working on option 2, just in case.

Regards the refinancing fantasy, as the song goes, "it's too late baby, it's too late"

[vwcaddy] 21/2/2020 14:39

Graham.
If it was as simple as that why make an offer in the first place.
The offer was first made public in a pub. Most companies release sensitive information on the outdated RNS system.

[amaretto1] 21/2/2020 14:33

Odey has absolutely NO intention of voting against Anglo !! The opportunistic buying at under 5.5Will net him approx 25 million sterling.