Tipped today as a speculative buy Yorks mine under threat as developer cancels £400M cash call New Civil Engineer – 7 Aug 19 Yorks mine under threat as developer cancels £400M cash call - New Civil... Sirius Minerals announced the bonds sale in late July but has now taken the decision to suspend the bonds due to “current market conditions”.
RNS Bond withdrawn Or… Crowdfund the farmers with a guaranteed supply of poly4 for life! Strategic sale? Would we look East again? Sure CF was on board that flight to China a while back - they must know about sxx.
RNS Bond withdrawn Pretty complex I would say - the company promised all debt and no equity for Stage 2 - which was a strange move. They failed to get the government guarantee and therefore came up with this package supplemented by equity and a convertible. It looks as though the equity component remains too low to get a high yield bond away. So you would assume the solution is therefore more equity. However, their failure to deliver on their most recent fund raise will make it very difficult in the current structure. I have repeatedly argued that in this structure the equity will need to make up all the shortfalls, ie cost overruns, in order to get each tranche of bond away. Most likely is they do get this bond done. Plan B could well be strategic sale with no value to current equity.
RNS Bond withdrawn Hi Chaps, any ideas what other options the company has if the bond offering fails? I guess equity would be an option, but that would be complicated by the collapsing market cap and the convertibles.
RNS Bond withdrawn Berenberg are the first broker to change there stance on SXX. who’s next? HOLD, awaiting further news on funding.
Tipped today as a speculative buy South West. Devon for most of the year, I don’t often short. I prefer to be long “risk on” in most cases. I’ve just completed a 10 year strategy to create a portfolio that I believe offers me enough income to fully retire and growth for the long term. Mainly using IT’s & ETF’S. I’ve been winding down for the previous decade and it felt like the right time to retire. Nearly 2 decades early is good enough for me! I’m moving to the next stage ,which is to look for asset backed bond like positions. I’m planning to do that until I can access my pension at 55. At that point when I have both investment and pension income. I’ll move to a more aggresive style. I suspect at that point I’ll be happy to short trade from income more often. Trade more often. By then my start-up portfolio might be matured enough to sell out of it. Make sense?
Tipped today as a speculative buy Sorry about the rain , another lovey sunny day in south London . Where are you ? Why are you not shorting with the views you have posted on them both , and you would of been correct and made money so far in both cases ?
Tipped today as a speculative buy Ripley94: I see you are also very negative on BUR today following the muddy waters bear attack. Are you shorting both stocks ? No, not shorting either. I posted just out of interest this morning. I was heading out, but the rain has put stop to that, so…I’m here for a bit.
Tipped today as a speculative buy I see you are also very negative on BUR today following the muddy waters bear attack. Are you shorting both stocks ?
Tipped today as a speculative buy BBC Radio 4 comments this morning included “might run out of money by September”
RNS Bond withdrawn CF is determined to get the mine built. I trust a new announcement and good news will follow soon. 300million shares traded today. sells -buys nearly equal, so any panicked PI shares have been snapped up by funds or long termers. added a few more myself at his level. IB
RNS Bond withdrawn apologies but you misunderstand. If CF is willing to pay 13.5% - unheard of in 2019 he is a very desperate man, on his knees begging… the door closed yesterday hopefully due to trade tension and brexit … and not some other problem. If the door reopens in a week or two… shares back to 18… great return but if it fails its zero. So at 11 the shares say probability is 60% …which sounds about right.
Tipped today as a speculative buy SXX XXXX Top fallen today down 27%… 9.5p just after open , bond issue withdraw Rns. Excuse to phone David .
RNS Bond withdrawn SP already back up to 11.5p. Anyone who got in first thing this morning around 9-10p are already sitting pretty. 150mill shares traded already this morning. it’s going to be a big day. sells -buys nearly equal. CF would only have sanctioned this delay following advice. Makes me wonder, is he waiting another 2 months for the bond or has another door opened for this money? We will just have watch and wait.
RNS Bond withdrawn The conclusion to be drawn from failure is very negative. I expect this set back is temporary and the market will open at 13.5% assuming nothing has gone wrong. Shares prob a decent punt down here.