Sirius Minerals Live Discussion

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Paitech 09 May 2019

Buying SXX now Hi There, I know there is an open offer on SXX currently. If I buy some SXX now, would I be able to get the Open Offer ? What is the last date I should buy SXX buy to get the Open Offer? Thanks G

Ripley94 09 May 2019

Tipped today as a speculative buy SXX… XXXXX Sliced that top of 8 days back @ 17.55p … strait through on a 17.5p limit that a sign shes going higher lol

icebilly 09 May 2019

Share placing SXX Thanks for that. Fingers crossed for best case then, and of course we have the latest technology for construction of shafts and tunnel. Sunny moorlands on the horizon. IB

Snowman24 09 May 2019

Share placing SXX After the initial drawdown, subsequent drawdowns upon the RCF will be subject to customary conditions precedent, including the absence of default events and compliance with financial covenants. As of the date of this Announcement, although the Company is confident that it will be able to meet the conditions to the initial and ongoing availability of funding under the RCF (including the issuance of the full amount of the Initial Bonds), such conditions must be met to the satisfaction of, or waived by, the lenders under the RCF and therefore there can be no assurance that all such conditions will be satisfied on a timely basis, or at all. During procurement costs have risen $600m plus $200m finance costs. To date SXX has spent little over $400m. The next phase is where the cash costs are incurred. Even a small overrun 10% - would result in $300m of additional costs. To be honest I would say best case scenario here would be the next 24 months all go to plan, incurring c$2bn of costs, drawing down the RCF. From here everyone is somewhat all in. In the following 12 months SXX raise c$500m which covers some cost overruns and sees them through to first revenues. Then its sunny uplands. The recent exercise caused the shares to half - knocking off £800m value, reflecting additional costs and the $400m raise. So its hard to see the shares repeating performance following the last raise until construction risks recede.

icebilly 09 May 2019

Share placing SXX Thanks Snowman. Is it not the case that the £2.5billion funds are available to Sirius if they need it. This revolving arrangement is surely perfect for Sirius, it runs both ways for Sirius, it means they are not immediately burdened with the having to take the full 2.5B, but have monies there if needed. Most construction costs are already signed/agreed and within budgets. So, is it not a possibility that the whole 2.5B may not be needed by 2024. Roll on to production, can’t wait. Go SXX. IMHO, IB.

OwDo 09 May 2019

Share placing SXX Norwegian Sovereign Wealth Fund yesterday bought 3.47% of Sirius Minerals. Yet HMG will not back it. This I cannot understand, it is bringing jobs to the North East. /

icebilly 09 May 2019

Share placing SXX Yes, they would be added to your total inside your ISA. Your ISA broker should have emailed you by now, and be asking for your instructions on whether to proceed and for you to provide the funds for the purchase. IB

waynehensby 09 May 2019

Share placing SXX Hi just wondered if you could confirm my thoughts I have SXX shares in an ISA and if I exercise my rights get an additional share for every 22 that I have which I have to pay 15p for these additional shares are then added to my total holding?

Snowman24 09 May 2019

Share placing SXX I think the reality here is not that the money wasn’t available. I would assume the guarantee did not achieve the expected cost of borrowing and minimum equity content. This is why the structure is a staged release of the RCF - that is matched with bond placement. This prevents the bond holders being exposed to significant cost over runs. The contrary is true for the equity. This will affect the early investors return on equity significantly.

icebilly 08 May 2019

ICEngineers BBC Tees Radio Interview Institute of Civil Engineers president Andrew Wylie recorded for radio Tees during visit to Woodsmith Mine.

walrog 08 May 2019

Share placing SXX I wonder if it had been in the Tory heartlands it would have been approved by now?

icebilly 07 May 2019

161 traded so far At least the Buys outnumber sells by 3 to 2 on Tuesday markets, but SXX is dragged down by 0.5p after the FTSE fall of 120points. Buys 31million, sells 22million. SP 15.32p

icebilly 07 May 2019

RNS: Norges Bank of Oslo loan Sirius confirm further investment by the Central bank of Norway with new £7Million placing shares loan.

icebilly 04 May 2019

Share placing SXX Latest Investor Chronical article and comments on share placing. Conclusion. Still a good long term buyers investment. – 30 Apr 19 Sirius squares the funding circle The Yorkshire-based potash producer now has heavyweight financial backing. But will future success give way to stock dilution?

icebilly 03 May 2019

Share placing SXX More leaks from HM gov. Reuters have reported failure by Gov to get behind project for funding offers/ calls. LONDON, May 3 (Reuters) - Sirius Minerals opted to press on with a more complex and expensive funding package to develop its giant potash mine in Yorkshire to avoid a longer wait for government-backed financing, a source familiar with the deal told Reuters. Sirius had planned to secure a debt financing package for the $3 billion Woodside project - one of the largest mines to be built in Britain for years - from the government, with the rest funded by the market. The mine has been touted by British Prime Minister Theresa May as the kind of project that fits “the northern powerhouse” – a government scheme to boost investment and jobs in the north of England. In January, finance minister Philip Hammond said discussions on government backing for the project were ongoing. But uncertainty over the timing of government funding prompted Sirius to turn to the market for a more expensive financing package, the source said, asking not to be named as he is not authorised to speak publicly.