Keep it Classic : "Money works in mysterious ways. It brings out the good and it brings out the bad. Let it flow and mind thy self." Wise weirds.
Use the Force : "...over these last two weeks we've just about all of us experienced a 100% increase in our initial stake. Some have experienced two, perhaps three hundred percent. It's even feasible that a lucky, no, savvy, few have actually experienced over a THOUSAND, maybe two thousand, percent increase..... for God's sakes let's not turn this great site into what some sites on LSE have become: nothing more than an exchange of mutual insults about people's intelligence, motives, sad lifestyle, parentage even.... ". Investors daze out in the field.
Who You Winking At? : "What is known is that fraser has very publicly stated that works start from Sept...." Balfour Beatty continue to progress the pre-construction work with a neat little schedule here:
These works began last March and are expected to continue to meet the NYMNPA planning conditions until November 2016. Site prep is essential. Efficient.
Mmmm ... Red Herring: "We can actually do this without shooting ourselves in the foot as we all want the same thing - to make money...". Erm, not quite most want to see this mine constructed and productive. Tho as time takes its toll the recent rise in the share price has given many small local investors an opportunity to review or reap their investment to suit their own circumstances, grace or brace... cash in, top slice, or indeed top up and take the long term view. Practice, preach ... Polly is on a perch... grin n bear. Scrump n scream.
Scrummy. The Chairman's Statement : "Highlights
· Completion of definitive feasibility study for the Company's North Yorkshire Polyhalite Project (the "Project").
· Selection of preferred construction contractors for the Project - Associated Mining Construction (UK) and Hochtief Murphy joint ventures.
· The announcement of a Project capital funding requirement of US$2.91 billion and a Stage 1 capital funding requirement of US$1.09 billion.
Cash resources at the end of June 2016 were £16.9 million compared to £29.1 million at 31 December 2015 and £25.1 million at 30 September 2015." http://siriusminerals.com/site/assets/files/4249/sirius_minerals_-_inves... .
Indeed, tis a lot of money to be found, if your money can work better for you sobeit. Investment takes time : "Site preparation and clearing of planning conditions: 22 months Main shaft: 36months from start of main sink to first product MTS: tunnel break-through ~26 months from completion of launch caverns and portalsRamp up to 10Mtpa over three -year period from first product" P18 :
The York Potash Project is a commitment from all investors, financial, human, technical, envrionmental ... resources are aquired, Pests.... emotionals? Sighs really don't matter.
My lucky no... hey ho.
Politics Make for Strange Bed Fellows : ... mebbe we can't build this ourselves afterall (Bolivia) ... read the bumpf direct, OK, Capitalism require Captains:
Tis a fact: "Shares have almost trebled in value in the year to date as the pieces of the jigsaw have begun to fit into place – and they show few signs of flagging.The interim results update last week, which contained little material news, has prompted an 18% rise in the share price.According to Shore Capital’s Low, the stock, currently changing 43.4p, is worth 75p, which would propel Sirius’ market capitalisation to £1.7bn."
Work on the stage 2 financing has progressed with the Company conducting a market sounding with potential senior debt lenders. Fifteen prospective lenders participated in the sounding process with positive feedback received from the majority of participants. The Company continues to work with a select number of banks with a view to forming a small group of mandated lead arrangers. It is envisaged that once this process has concluded (in advance of the stage 1 financing), the Company will have indicative terms for its stage 2 financing and support from the mandated bank group. On the basis of feedback provided so far, the Company is confident that a commercial bank transaction will be capable of meeting the entire revised stage 2 capital funding requirement of US$1,821 million."
Razor time? Cutting cloth ... Frazer's got his work cut out :-))
Clearly.... tis not a game for D'arts.
Based on today’s closing share prices, Potash is valued at about $14.9 billion, with Agrium at about $13.2 billion. Potash surged 11 percent in New York trading, while Agrium jumped 7 percent. Other fertilizer producers, including Intrepid Potash Inc. and CF Industries Holdings Inc., also climbed."
Following a market sounding with potential senior debt lenders the Company has now mandated a group of six financial institutions experienced in mining and infrastructure project finance as Mandated Lead Arrangers (the "MLAs"). The MLAs - Export Development Canada ("EDC"), ING; J.P. Morgan; Lloyds Bank plc; Societe Generale, Corporate & Investment Banking; and The Royal Bank of Scotland Plc - have been mandated on the basis of a non-binding but mutually agreed term sheet, having undertaken initial due diligence of Project documents.
Once approved the Stage 2 financing is expected to comprise of aggregate senior debt facilities of up to US$2.6 billion (the "Facilities") to fund the Stage 2 capital funding requirement and costs relating to financing the Project. Financial close for the Facilities is expected to take place in 2018....
"The appointment of the MLAs does not constitute an offer of financing or an underwritten commitment by the MLAs to provide financing. The MLAs' appointment is subject to market standard conditions including due diligence, credit and other business approvals, and execution of legal documentation acceptable to the MLAs. Similarly, IPA's prequalification does not constitute an offer of financing or an underwriting commitment. IPA requires its normal processes to be undertaken in addition to due diligence, such as satisfaction of conditions, HM Treasury credit process, risk committee, credit committee and ultimately Ministerial approval.
The Company intends to progress the Stage 2 financing, with the MLAs and IPA commencing detailed due diligence, following the successful completion of the Stage 1 financing. The Company continues to progress the Stage 1 financing and is in active discussion with a number of parties undertaking due diligence. The details of the Stage 1 capital structure and timing will be subject to further announcement at an appropriate time. "