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What's going to collapse next...


TheCountOfNowhere

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The past three years has been a rolling fundraising for Sirius, with potential government backing and a financing deal with a bulge-bracket US investment bank combining to lure UK retail investors. But JPMorgan’s $2.5bn financing package was contingent on them raising $500m through a bond issue by October 29. On Tuesday the company has admitted that is no longer feasible. 

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On 17/03/2019 at 13:27, spygirl said:

Ill go out on a limb and say Sirius Minerals.

They'll stretch out the CEOs  salary for another 2 months then hell fuck off to Oz, leaving a big hlle i nhe ground and loads of small private investors wondering what happened to all their money.

 

 

I predicted June-ish.

I was wrong by ~2/3 months.

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14 minutes ago, spygirl said:

Buy! Buy! Buy!

 

I PM you yesterday, when the SP was ~10p.

 

Didn’t get it and pm box isn’t full. Weird. I’ve sent you a couple recently to which I haven’t had a reply x usual stuff about idiot locals. Wonder if there is a glitch in the matrix @spunko

5 minutes ago, spygirl said:

I predicted June-ish.

I was wrong by ~2/3 months.

I saw an advert (more than one) for new staff last week. 

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10 minutes ago, One percent said:

Didn’t get it and pm box isn’t full. Weird. I’ve sent you a couple recently to which I haven’t had a reply x usual stuff about idiot locals. Wonder if there is a glitch in the matrix @spunko

I saw an advert (more than one) for new staff last week. 

Yeah job ads are a scam.

Theyll start laying people off instantly, contract depending.

Theres quite a few people who've moved to the area, putting kids in Fyling Hall too.

Not wise.

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Just now, spygirl said:

Yeah job ads are a scam.

Theyll start laying people off instantly, contract depending.

Theres quite a few people who've moved to the area, putting kids in Fyling Hall too.

Not wise.

Flying hall will suffer too then. 

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Just now, spygirl said:

And Mr Fiddly, with that old loon bin, cheaply adapted to miners flop house.

 

Ah yes the one up at hawsker. A lot of people have been making hay. A lot are going to lose. I think there are some locals balls deep in it 

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3 minutes ago, One percent said:

Ah yes the one up at hawsker. A lot of people have been making hay. A lot are going to lose. I think there are some locals balls deep in it 

Theres a *lot* locals balls deep.

Pretty much everyone heavily invested -  think chasing in a few 10k in building society savings i.e. life savings, is what would be called an unsophisticated investor.

 

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https://www.gazettelive.co.uk/news/teesside-news/live-updates-sirius-minerals-shares-16930426

I have held for coming on two years and have not sold a share, don’t see any point selling them now.

Honestly at this point, I would be happy with any profit but hopefully it’s too big to fail and perhaps we just need to wait that little bit longer.

Go big or go home.

?????

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1 hour ago, One percent said:

Didn’t get it and pm box isn’t full. Weird. I’ve sent you a couple recently to which I haven’t had a reply x usual stuff about idiot locals. Wonder if there is a glitch in the matrix @spunko

I saw an advert (more than one) for new staff last week. 

Yes, there is. I need to purge the mailbox every so often otherwise it gets clogged up with shite, and emails take ages to send. I've done it now...

There is a better solution but I can't be bothered to add it just yet. :Jumping:

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43 minutes ago, spunko said:

Yes, there is. I need to purge the mailbox every so often otherwise it gets clogged up with shite, and emails take ages to send. I've done it now...

There is a better solution but I can't be bothered to add it just yet. :Jumping:

The better solution is for us all to post less whiteboard xD

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On 17/09/2019 at 09:38, spygirl said:



The past three years has been a rolling fundraising for Sirius, with potential government backing and a financing deal with a bulge-bracket US investment bank combining to lure UK retail investors. But JPMorgan’s $2.5bn financing package was contingent on them raising $500m through a bond issue by October 29. On Tuesday the company has admitted that is no longer feasible. 

https://www.thescarboroughnews.co.uk/news/people/boris-johnson-invited-to-scarborough-for-talks-over-future-of-sirius-minerals-1-10001511

“This project has the potential to grow the North Yorkshire economy by 17%, provide a £2.3 billion annual contribution to UK GDP, as well as providing significant benefits locally, including the creation of circa 1,000 direct high-value jobs within the area and an estimated 1,500 further jobs within the local supply chain.

“This project is central, not only to the future of the borough, but to the future of the wider North Yorkshire and Teesside regions in terms of economic growth and prosperity, but in providing a platform for raising aspiration and social mobility within our communities.

“Additionally, thousands of local investors have supported this project with their hard-earned savings, putting faith in Sirius to deliver prosperity for the area.”

 

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

Ffc, well said, I too am sitting on an 80+% unrealised loss atm and the only person to blame for that is me. Like Fred I too have become emotionally attached to the company, you cannot help it when you drive past the site on the way to Whitby. S boro for the day or see the hope it brings to my region. I want to be part of the story. I wanted my granddaughter to invest too so she grew with the company - and I see her unrealised paper loss and I feel, well I do not know actually. Guilt, ashamed, embarrassed. But I explained the risks, and those risks still stand and so does the hope and expectation that this will be a great success for those of us who still believe in the leadership and acumen of the BoD. I do. I believe in the decency of the human soul and that people are honest in their words and endeavours. We are not being played, shafted, crikey the emotive language, the management is simply responding to circumstances and aim to get the best deal for us all.

Wow, if only there was another Potash company, up the road, where they could have a look a the history and see that, even with being gifted the cost of mine, its still never managed to turn a profit in ~40 years.

 

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1 hour ago, spygirl said:

https://www.thescarboroughnews.co.uk/news/people/boris-johnson-invited-to-scarborough-for-talks-over-future-of-sirius-minerals-1-10001511

“This project has the potential to grow the North Yorkshire economy by 17%, provide a £2.3 billion annual contribution to UK GDP, as well as providing significant benefits locally, including the creation of circa 1,000 direct high-value jobs within the area and an estimated 1,500 further jobs within the local supply chain.

“This project is central, not only to the future of the borough, but to the future of the wider North Yorkshire and Teesside regions in terms of economic growth and prosperity, but in providing a platform for raising aspiration and social mobility within our communities.

“Additionally, thousands of local investors have supported this project with their hard-earned savings, putting faith in Sirius to deliver prosperity for the area.”

 

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

Ffc, well said, I too am sitting on an 80+% unrealised loss atm and the only person to blame for that is me. Like Fred I too have become emotionally attached to the company, you cannot help it when you drive past the site on the way to Whitby. S boro for the day or see the hope it brings to my region. I want to be part of the story. I wanted my granddaughter to invest too so she grew with the company - and I see her unrealised paper loss and I feel, well I do not know actually. Guilt, ashamed, embarrassed. But I explained the risks, and those risks still stand and so does the hope and expectation that this will be a great success for those of us who still believe in the leadership and acumen of the BoD. I do. I believe in the decency of the human soul and that people are honest in their words and endeavours. We are not being played, shafted, crikey the emotive language, the management is simply responding to circumstances and aim to get the best deal for us all.

Wow, if only there was another Potash company, up the road, where they could have a look a the history and see that, even with being gifted the cost of mine, its still never managed to turn a profit in ~40 years.

 

A fool and their money....

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25 minutes ago, One percent said:

A fool and their money....

What I find really annoying is the gullibility of the council and MPs, answer mind the penny investors on bulletin boards.

They can see who the mine has employed so far - mainly outside contractors. Even the low level jobs, for site clearing has gone to Romanians.

The figures on the mine almost singly handily balancing the UK current account deficit is beyond a fucking joke. 

 

The BB is making a fuss abotu the CEO buying 250,000 shares. It only cost him 10k FFS.

His salary is just under £1m, so about ~3 days money.

They should not have started digging until the they had he finance all lined up, in stages.

I read stuff like this BB post:

How many of us are old timers with equity release a possibility on their mortgage free homes?
A few will be accountants - so instead of leaving our homes in our wills , is there a tax efficient way to buy bonds in a deserving company and leave them instead?
Could this be a well-known way out for Sirius? We all know "where there is a will there is way " :O)

Inheritance would be far less traumatic than having to empty the house and all the hastle of putting it on the market etc..
It might be a considerate option?

And wonder if its some sort of clinical idiot or ramper

My thoughts exactly shorting a company is illegal in Germany and to allow it is a negative against any business the decide will be next !! Totally against companies growing and employing more people .
These pack animals with their mighty clout and power can bring about the demise of any company which is totally bent !!
Sirius came under attack because the market did not want them to succeed and disrupt the fertalizer market .
We are not out yet and the six months C.F has bought us should enable a solution to be found one thing is for sure that resource will not be left in the ground I would say 70% a partner 30% a takeover but it will get built .

 

 

 

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18 hours ago, spygirl said:

https://www.thescarboroughnews.co.uk/news/people/boris-johnson-invited-to-scarborough-for-talks-over-future-of-sirius-minerals-1-10001511

“This project has the potential to grow the North Yorkshire economy by 17%, provide a £2.3 billion annual contribution to UK GDP, as well as providing significant benefits locally, including the creation of circa 1,000 direct high-value jobs within the area and an estimated 1,500 further jobs within the local supply chain.

“This project is central, not only to the future of the borough, but to the future of the wider North Yorkshire and Teesside regions in terms of economic growth and prosperity, but in providing a platform for raising aspiration and social mobility within our communities.

“Additionally, thousands of local investors have supported this project with their hard-earned savings, putting faith in Sirius to deliver prosperity for the area.”

 

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

Ffc, well said, I too am sitting on an 80+% unrealised loss atm and the only person to blame for that is me. Like Fred I too have become emotionally attached to the company, you cannot help it when you drive past the site on the way to Whitby. S boro for the day or see the hope it brings to my region. I want to be part of the story. I wanted my granddaughter to invest too so she grew with the company - and I see her unrealised paper loss and I feel, well I do not know actually. Guilt, ashamed, embarrassed. But I explained the risks, and those risks still stand and so does the hope and expectation that this will be a great success for those of us who still believe in the leadership and acumen of the BoD. I do. I believe in the decency of the human soul and that people are honest in their words and endeavours. We are not being played, shafted, crikey the emotive language, the management is simply responding to circumstances and aim to get the best deal for us all.

Wow, if only there was another Potash company, up the road, where they could have a look a the history and see that, even with being gifted the cost of mine, its still never managed to turn a profit in ~40 years.

 

Decency of the human soul? Really? That must be the bargaining stage of the kubler ross scale

 

 

BA21F2A7-3474-45E8-A77D-A47F8BE15E5D.jpeg

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On 18/09/2019 at 14:09, One percent said:

A fool and their money....

Im hearing of locals who've bought several 10k worth of stock @ 20p-35p

Theyve lost  ~90% of their cash.

This will be huge.

Expect a far few holiday lets to come on the market.

 

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29 minutes ago, spygirl said:

Im hearing of locals who've bought several 10k worth of stock @ 20p-35p

Theyve lost  ~90% of their cash.

This will be huge.

Expect a far few holiday lets to come on the market.

 

Jesus. Idiots. o.O  maybe they didn’t know about boulby. 

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21 hours ago, One percent said:

Jesus. Idiots. o.O  maybe they didn’t know about boulby. 

DO you know Ive mentioned that theres load of IO BTL idiots in Scabby?

 

https://www.gazettelive.co.uk/news/teesside-news/sirius-minerals-share-price-plummeting-16939841

https://www.thetimes.co.uk/article/if-this-fails-it-will-ruin-my-life-zqfq26s6h

Sirius' shares stood at a respectable 19p, everything was rosy - and they even rocketed another 50% soon after.

But on Tuesday, the bubble burst in spectacular fashion.

"I could sell and get out," says Mark, "but I refuse.

"I would rather lose everything than voluntarily give it up.

"It's almost as if the institutions are bullying us boys out.

"What scares me is it going to go into administration, somebody will get it for nothing - and we will lose everything.

"I thought this would be a reasonable retirement fund.

"Bearing in mind they were 'confident' of getting the bonds the first time, then 'confident' of getting a partner or infrastructure partner then various other forms of lending, it does make you wonder.

Thats right.

Big boy investors robbed your shares ...

Idiot.

"It's ripe for a takeover , it's almost as if somebody wants it and is just driving the price down.

"Maybe I'm foolish, but you get drawn in and you put more and more in to give you a better chance.

"I suppose it's just a case of 'watch this space' - but they're not having my shares."

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On 13/09/2019 at 23:25, sancho panza said:

https://wolfstreet.com/2019/09/13/who-will-rescue-thomas-cook-collapsing-vacation-travel-airline-giant-21000-employees/

Following yet another bleak week of trading, the shares of 178-year-old British global travel & vacation-giant and airline Thomas Cook, with 21,000 employees globally — 9,000 of them in the UK — are down to 5 pence, down 96% from 130 pence in May last year. At that time, Thomas Cook Group was worth £2.5 billion. Today, its worth a paltry £75 million.

The company now has just one lifeline left: a proposed £900 million rescue deal that would see its biggest shareholder, Chinese conglomerate and investment giant, Fosun, inject £450 million in return for a 75% stake in the group tour operator and a 25% stake in the group airline. Banks and bondholders would match that amount with a debt for equity swap in return for control of 75% of the equity of the Group Airline and up to 25% of new equity in the group tour operator.

Current shareholders would be virtually wiped out by the restructuring despite the company’s reassurances that they would “continue to retain an investment in the Company.”

Thomas Cook need to move rapidly. Already loads of worry and open conversation in public around sustainability. The funding requirement has increased but if people lose confidence who will book with them?

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1 hour ago, Ash4781b said:

Thomas Cook need to move rapidly. Already loads of worry and open conversation in public around sustainability. The funding requirement has increased but if people lose confidence who will book with them?

They've already gone IMO.  Nobody who has heard this story will now book a holiday with them.

12 minutes ago, Tdog said:

Dont know what truth there is to this article, but it claims Thomas Cook needed to sell 300 million holidays a year to service their £1.6bln debt.

https://www.dailymail.co.uk/news/article-7485507/How-mismanagement-expansion-built-1-6bn-debt-mountain-threatening-Thomas-Cook.html

Good to see the banks are careful who they lend to.

These failures make for a healthy economy; a mismanaged company with a huge debt burden vanishes as does £1.6bn from the books of an imprudent lender.

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