Seriously Sirius....minerals?

J

Jimoz

Well-known member
I bought at about 9p other month thinking it was good time. Have followed this for a few years and seen as high as 30+
Ah well win some lose some
 
L

Lynchy

Well-known member
Seen some people on a chat forum,one lost £400k
Seems underlying principles,lot of hard work done,planning permission etc,actual physical resource with forward orders, tunneling been going well,just the problem of cash drying up n programme slowing
Go bust,mothball,bought by large mining co due to fall in share price,alternative investment?
Would be a good addition to the area
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
can't recall the details exactly, but is this the set up that was going to transport product to the coast by tunneling to a port ?

obviously doesn't have the right people investing in it to warrant the gov.'s interest ... i.e. they don't have any risk of their own to concern them :mad:
 
L

Lynchy

Well-known member
Yeah 37km tunnel Whitby to teesport,already under way,also a firm on teeside was looking to start up a cable factory to bring electric from Iceland,talking about going to Germany if government doesn't help out
Course it doesn't interest,just a few thousand jobs in another area hard hit by steel and other closures,not like it's a bank or anything?
 
R

Rob65

Active member
This is just about typical. I received an email last week to let me know they just needed to get a managers approval and they were going to spend about £15k buying equipment from me.

Think that one might be down the plug hole now.
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
Yeah 37km tunnel Whitby to teesport,already under way,also a firm on teeside was looking to start up a cable factory to bring electric from Iceland,talking about going to Germany if government doesn't help out
Course it doesn't interest,just a few thousand jobs in another area hard hit by steel and other closures,not like it's a bank or anything?
like I said ... no one of any significance stands to suffer so they don't give a **** .... if 'anyone' had any major wonga invested they'd be singing a very different tune ... them and us syndrome :mad::mad::mad:

recall reading the plans for this a long time ago and thinking " jeeeesus ..some sort of tunneling project and that's just ancilary to the main goal " :eek::eek:

At the time there was a massive world shortage of potash IIRC .... presumably things have changed ? :unsure:
vague recollections of an after use for the mines, for nuclear waste storage???:unsure::unsure:
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
This is just about typical. I received an email last week to let me know they just needed to get a managers approval and they were going to spend about £15k buying equipment from me.

Think that one might be down the plug hole now.
better now, than after supplying them though Rob :rolleyes: and ending up on a creditor list:mad::mad:
 
L

Lynchy

Well-known member
For a change it seems the actual product offering is sound,the high value of it especially in warmer climates means it's the best of it's type in the world,100 year lifespan,just problems with floating $500 million bond to access$2.5 billion!
Yeah better off not getting the order than being an unsecured creditor!
 
J

Jimoz

Well-known member
I don't think you can read too much into what's out there. It may continue it might go bang and someone else take over. It's one of those shares you buy with small money then check again seriously in 5/10 years
 
L

Lynchy

Well-known member
It dropped 10% day previous to 50% bit fishy
Usual city carry on,being sold short like mad,opens,drops,rises again for next day,on going pattern,private equity making bundles off it while long term private investors loose their shirt
 
L

Lynchy

Well-known member
S

soljun

New member
If it will affect the employment of many people, the issue about Sirius Mineral is indeed serious.
However, if the problem is due to some safety concerns regarding the project, then reviewing is really essential.
 
L

Lynchy

Well-known member
Never heard any safety concerns,if anything the goings favourable and tbm going great guns
Seems finance problem,short sellers got the firm in view,must've made some serious money Friday 20%drop,hard for the firm with share capital 200 million n dropping to raise 3 billion
 
L

Lynchy

Well-known member
Decent money made on volatility Monday,seems very quiet considering the gravity of running out funds,got £50 million put away in case of backfilling!can't imagine they'd want tbm parked up?
Possible jv but only to pick up on the cheap?
 
R

Rob65

Active member
The problem for Sirius is apparently down to a drop in global demand for their future product. The material they are after is called Polyhalide. I don’t know specifics but i understand it’s a relatively new to market product which has not been mined much which it has similar uses to Potash but is in some way superior. There is a big Potash mine in Canada which has just been mothballed and a big Potash mine in Russia which has just reduced production from 12m tonnes a year per year to a little over half that.

The local competition to Sirius used to mine Potash but have recently turned their production to Polyhalide but are having problems with their continuous mining machines as it so hard.

Not sure of the significance of all this.

Rob
 
V8Druid

V8Druid

do it as well as you can,but learn to do it better
The problem for Sirius is apparently down to a drop in global demand for their future product. The material they are after is called Polyhalide. I don’t know specifics but i understand it’s a relatively new to market product which has not been mined much which it has similar uses to Potash but is in some way superior. There is a big Potash mine in Canada which has just been mothballed and a big Potash mine in Russia which has just reduced production from 12m tonnes a year per year to a little over half that.

The local competition to Sirius used to mine Potash but have recently turned their production to Polyhalide but are having problems with their continuous mining machines as it so hard.

Not sure of the significance of all this.

Rob
I'd hazard a guess that they'm seriously ****ed .... if the demand for current supply has dropped so drastically, any new supply is simply going to flood an already shrinking market and prices will plummet, in order to achieve any sales at all, from new sources :rolleyes: ... their biz model will have been based on 'today's price' at the time, presumably making the scheme commercially/financially viable .. with current prices, they're probably in the deepest of tish ... hence the position they find themselves in:( .... a no win situation :(:(
 
L

Lynchy

Well-known member
Been a petition to get government intervention,people quite rightly say the government shouldn't prop up a private firm,but,look at Thomas Cook,the government,or national insurance fund,will be paying out,not to keep a firm in business,but to pay the staff after the fact,costing £50 million plus,unlike Germany who despite EU rules?
Kept condor travel part of TC going?
The deposits at whitby are reckoned to be highest yielding found,got advance orders,problem as I see it is the bond failure, the sharks in suits might not have been looking to the current owners,but the next
 
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