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You cannot be sirius


TheCountOfNowhere

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I lost £20k in  Baobab Resources a few years back, a pig iron project in Mozambique. Not sure what became of it but it was spunking money at the time with Chinese interest to take it over and wipe out

Probably a good result for the area -- AA have the clout to actually pull this off, which will be good for jobs and secondary stuff (suppliers, etc).

Its happening  nowish. They are fly a plane low and slow over a square ~Whitby to ~Ravenscar. Doing a square with ~50m meter scan gaps. They are scanning using a v sensitive super duper

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SillyBilly

I lost £20k in  Baobab Resources a few years back, a pig iron project in Mozambique. Not sure what became of it but it was spunking money at the time with Chinese interest to take it over and wipe out the investors (offered a price way below what most had bought in at). I used to "invest" big in AIM stocks until I realised I was actually gambling; instead of putting £10,000 on a horse I was putting £10,000 on the flip of a coin. I used to do a lot of research though and time entries before big RNSs with items such as wildcat drill results. Knowing if it was a duff I'd lose half my money in minutes or if successful be 3-4 bagging inside a week. Most I ever made in 1 share was £70,000 in a few days (Leni Oil & Gas I think) . I got out at just above break even, wish i had stopped when I was miles ahead but I just got silly with profits, lost money and began chasing it. Same old story. Point being, even usually rational people like me (usually) can lose their heads in these small shares. Really is the wild west. unfortunately sometimes you need to lose money to learn.

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This is meant to land at Wilton International which i am acquainted with... Just hope it doesn't bugger up traffic on a174 or might have to drive thru Boro :-/

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spygirl
2 minutes ago, Stuey said:

This is meant to land at Wilton International which i am acquainted with... Just hope it doesn't bugger up traffic on a174 or might have to drive thru Boro :-/

For somewhere with 50% of working age out of ft work, boros traffic is horrendous.

As soon as anyone gets a job, they move out to a small number of areas, then drive in.

 

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Just now, spygirl said:

For somewhere with 50% of working age out of ft work, boros traffic is horrendous.

As soon as anyone gets a job, they move out to a small number of areas, then drive in.

 

It's a different economic model to other places in the north, all the villages like Norton Guisborough Saltburn Stokesley but no big city like Leeds or Manc. 

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spygirl

10/01/2020

The company made an announcement on 8 January regarding a possible takeover of Sirius by Anglo American Plc. Due to the UK takeover code, we are extremely limited on what we are able to say about the current situation.

Because of this, we have taken the decision to postpone the Liaison Group Forum, which was due to take place on Monday 13 January between 1.00–2.30pm at Hawsker Village Hall. We apologise for the short notice, but we feel it would be more beneficial to hold the meeting when there is greater clarity on the immediate future.

Would have been something exciting in hawsker, for once.

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Calcutta
3 hours ago, Happy Renting said:

Avoid any startup with 'Global' in it's name.

In his defence it was called something like Asia mining when he bought them. So not quite as bad. 

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spygirl

Price: 5.35

No Opinion

What to doToday 11:28

Hi All. we all know what is needed, how to go about it is another story. Share soc is a good start. Force a EGM, remove the BODs (keep the project managers and sales force) Remove JPM as fin adv, put the construction process on hold to preserve funds, Raise the £600mil with a share offer @5.5p or less, Derisk the project to allow funding via a 10% or less bond. Easy peasy. ATB Speedy

Ive spent years listening to these morons goung on about 'world class bod'

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DurhamBorn

Sirius was always going to end up this way.Diluted to nothing,or in the best case scenario for the area taken over by someone like Anglo.Id rate the CEO of Anglo probably the best in the industry among the big players.He knows fine well that the commod Sirius was going to mine is late cycle.He also knows of course they have a lot of cash flow mid cycle themselves and can easily fun the mine from free cash.

The main thing to take from this is the fact one of the worlds best miners is looking to invest probably £1 billion+ in the North.BHP have a huge potash project in Canada waiting to be lit,and its pretty obvious Anglo have figured out there is going to be a late cycle price spike in this and they should be able to get the project producing just as the prices run.

The clear take away  is that people should be buying other potash companies that have large reserves already producing.I would never of bought Sirius,but i have been buying Mosaic and K+S .

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Don Coglione
2 hours ago, DurhamBorn said:

Sirius was always going to end up this way.Diluted to nothing,or in the best case scenario for the area taken over by someone like Anglo.Id rate the CEO of Anglo probably the best in the industry among the big players.He knows fine well that the commod Sirius was going to mine is late cycle.He also knows of course they have a lot of cash flow mid cycle themselves and can easily fun the mine from free cash.

The main thing to take from this is the fact one of the worlds best miners is looking to invest probably £1 billion+ in the North.BHP have a huge potash project in Canada waiting to be lit,and its pretty obvious Anglo have figured out there is going to be a late cycle price spike in this and they should be able to get the project producing just as the prices run.

The clear take away  is that people should be buying other potash companies that have large reserves already producing.I would never of bought Sirius,but i have been buying Mosaic and K+S .

One question, if I may, DurhamBorn. When buying K&S (or any other share denominated in Euros, for that matter) are you not concerned about FX risk? I am guessing that you believe the Euro to be toast mid- to long-term, in which case is there not a very real chance of your holding dropping in value, perhaps dramatically? Or do you see the value of German companies being maintained if and when the Euro collapses and replacement currencies emerge?

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spygirl
4 hours ago, Ponty Mython said:

One question, if I may, DurhamBorn. When buying K&S (or any other share denominated in Euros, for that matter) are you not concerned about FX risk? I am guessing that you believe the Euro to be toast mid- to long-term, in which case is there not a very real chance of your holding dropping in value, perhaps dramatically? Or do you see the value of German companies being maintained if and when the Euro collapses and replacement currencies emerge?

Betting on sterling weakening has been a winning bet for 40 out oj the last 50 years.

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Don Coglione
5 minutes ago, spygirl said:

Betting on sterling weakening has been a winning bet for 40 out oj the last 50 years.

Against a basket of strong currencies and hard assets, sure, but against the sham that is the Euro???

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There are many junior AIM mining companies that will never come to anything. This is no different sadly. You can wait 10-20 years from prospecting, to going in to production. That is hell of a long time to wait.

I can only name one decent mining company that started out on AIM out of the 100s out there, and it was a producer to start with. It was a gold miner called Medusa Mining at 50p - got up to £5 odd, and then went off the exchange to another exchange.

Therefore I generally do not buy mining companies unless the underlying metal/mineral is in a bull trend, and the company is an actual producer.

There is a huge risk of the prospect or hole in the ground coming to nothing, and there is a huge cost in getting that one mine into production. It is very difficult to scale the income from one mine. If you have a small asset that produces income from day one, and this can be geometrically enlarged or scaled up, this is less risky.

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DurhamBorn
20 hours ago, Ponty Mython said:

One question, if I may, DurhamBorn. When buying K&S (or any other share denominated in Euros, for that matter) are you not concerned about FX risk? I am guessing that you believe the Euro to be toast mid- to long-term, in which case is there not a very real chance of your holding dropping in value, perhaps dramatically? Or do you see the value of German companies being maintained if and when the Euro collapses and replacement currencies emerge?

K+S for instance has massive assets in Canada,but the currency the parent company is in doesnt matter because they will be valued against the value of the commod under the company.Commods are solf in $ so if the Euro did collapse then companies selling things in $ would be big gainers.As part of a balanced portfolio i wouldnt worry about the affect of currency on the share price,but more the commod itself against the underlying currency.

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Kurt Barlow
On 11/01/2020 at 11:06, Great Guy said:

Anyone else been following Sirius Minerals? It's a mine in Yorkshire being built to access fertiliser. It's been the darling of many investors and is getting taken over by Anglo American. Some people have lost a lot of money.....

Anyone interested in the psychology of amateur investors should read the forum below....

https://www.lse.co.uk/ShareChat.asp?ShareTicker=SXX&share=Sirius-Minerals

Yep - bought a couple of thousand at about 20p mark in my SIPP and ISA. Then watched the slump. 

Having got my inheritance last week and having 600 quid in Divis in my ISA account I thought what the hell and paid 3.65p for 15000 b4 the AA offer. Assuming the AA deals goes through will recoup most of my losses. 

Mixed feelings. 

Would have liked a better price of course 

However AA takeover will at least see the project finished and generate some jobs in that area. 

Took a look at AA and they are heavy in copper which will grow in demand with massive wind farm developments in the pipeline so put a couple of K into them . Maybe recover my Sirius losses through them. 

 

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Kurt Barlow
On 09/01/2020 at 08:09, dgul said:

Probably a good result for the area -- AA have the clout to actually pull this off, which will be good for jobs and secondary stuff (suppliers, etc).

The AA offer may draw out another potential bidder. With many of the Diggers dumping thermal coal like a pile of hot shit this project looks potentially attractive due to its longevity and while there are plenty of alternatives to coal there are no alternatives on the horizon for food. 

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Kurt Barlow
On 11/01/2020 at 13:18, SillyBilly said:

I lost £20k in  Baobab Resources a few years back, a pig iron project in Mozambique. Not sure what became of it but it was spunking money at the time with Chinese interest to take it over and wipe out the investors (offered a price way below what most had bought in at). I used to "invest" big in AIM stocks until I realised I was actually gambling; instead of putting £10,000 on a horse I was putting £10,000 on the flip of a coin. I used to do a lot of research though and time entries before big RNSs with items such as wildcat drill results. Knowing if it was a duff I'd lose half my money in minutes or if successful be 3-4 bagging inside a week. Most I ever made in 1 share was £70,000 in a few days (Leni Oil & Gas I think) . I got out at just above break even, wish i had stopped when I was miles ahead but I just got silly with profits, lost money and began chasing it. Same old story. Point being, even usually rational people like me (usually) can lose their heads in these small shares. Really is the wild west. unfortunately sometimes you need to lose money to learn.

I can thank that cunt Mr. Parry for losing 500 quid on African Minerals due to its Tonkolili mine going bust. 

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spygirl

I think the mine works will be parked for a few years whilst AA work out how to get the stuff out as cheap as possible. 90% will be laid off.

The magic conveyor belt will be canned.

Most likely is they link up with ICL and create a new mine head and relocate the choochoo way from Hunts cliff. Maybe even dual the tracks,. 

 

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Kurt Barlow
4 minutes ago, spygirl said:

I think the mine works will be parked for a few years whilst AA work out how to get the stuff out as cheap as possible. 90% will be laid off.

The magic conveyor belt will be canned.

Most likely is they link up with ICL and create a new mine head and relocate the choochoo way from Hunts cliff. Maybe even dual the tracks,. 

 

That could fuck up the big deal with Qatar. 

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Don Coglione
1 hour ago, DurhamBorn said:

K+S for instance has massive assets in Canada,but the currency the parent company is in doesnt matter because they will be valued against the value of the commod under the company.Commods are solf in $ so if the Euro did collapse then companies selling things in $ would be big gainers.As part of a balanced portfolio i wouldnt worry about the affect of currency on the share price,but more the commod itself against the underlying currency.

Thanks, DB, informative as ever.

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On 11/01/2020 at 13:02, Happy Renting said:

Avoid any startup with 'Global' in it's name.

That's a bit Globalist mate.

Edited by 201p
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Hardhat
11 minutes ago, 201p said:

I'm just scanning that LSE thread. There's some serious losses there.

£16K, £20K, £50K, and someone lost £85K.

Yowch

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