Jim MacPherson
5 years ago
I appreciate the link below may well contain some degree of bias but I often find Motley Fool's analysis rather solidly based.

https://www.fool.co.uk/investing/2019/11/11/does-this-600m-plan-make-sirius-minerals-sxx-shares-a-buy/ 

Clearly other will have different perspectives so it doesn't mean it's all over yet, but Sirius are in a hole (pun intended)

Jim
derrick man
5 years ago
There is a repeated pattern of failed investment in major infrastructure projects, going back to the construction of the canal network in the 1700s; repeated in the “railway mania” of the 1840s and 1850s, and the American transcontinental railroads.

Brunel was a brilliant engineer, but an unmitigated disaster for many of his backers.

TML was ultimately built using funds attracted from minor investors, few of whom ever saw their money again, let alone a return. Cornish mining enriched a few, and impoverished many, and that wasn’t unusual.

Major infrastructure projects have a habit of ending under the control of a later wave of investors, after successive earlier investors bankrupt themselves laying the foundations.
ChrisJC
5 years ago
Like Boulby - I believe the current owners didn't open it in the first place.

Chris.
Jim MacPherson
5 years ago
A possible lifeline for Sirius,

https://www.proactiveinvestors.co.uk/companies/news/910155/sirius-minerals-in-advanced-talks-over-sale-to-anglo-american-plc-910155.html 

But most existing shareholders will, probably, be a bit out of pocket.

Jim
Boy Engineer
5 years ago
Another failed investment in a mine, sadly. Still waiting for this one to pay out untold riches:
[photo]119654[/photo]

I fear I may be waiting some time. You would think that they would have been rescued by now. 😮 (The medal reads Rescue 1997).
Never invest what you can’t afford to lose.
somersetminer
5 years ago
"Boy Engineer" wrote:

Another failed investment in a mine, sadly. Still waiting for this one to pay out untold riches:
[photo]119654[/photo]

I fear I may be waiting some time. You would think that they would have been rescued by now. 😮 (The medal reads Rescue 1997).
Never invest what you can’t afford to lose.



Should have guessed you werent a local! (most) people down here know better than to put any money up for that one, leave to the professional outfits to lose their shirts instead..
John Lawson
5 years ago
"somersetminer" wrote:

"Boy Engineer" wrote:

Another failed investment in a mine, sadly. Still waiting for this one to pay out untold riches:
[photo]119654[/photo]

I fear I may be waiting some time. You would think that they would have been rescued by now. 😮 (The medal reads Rescue 1997).
Never invest what you can’t afford to lose.



Should have guessed you werent a local! (most) people down here know better than to put any money up for that one, leave to the professional outfits to lose their shirts instead..

John Lawson
5 years ago
It is good news that one of the world’s largest mining houses is prepared to put money into a U?K. Mining project!
Sadly if their offer price is acceptable then a lot of small investors will lose a lot of their money.
Eg it was trading at around 30p a share several months ago.
After the failure to attract more capital into the project the price fell to around 5p.
So assuming Anglo are thought to be wanting to pay around 7p. Then some investors will lose a lot of hard earned cash!
ttxela
  • ttxela
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5 years ago
"John Lawson" wrote:

It is good news that one of the world’s largest mining houses is prepared to put money into a U?K. Mining project!
Sadly if their offer price is acceptable then a lot of small investors will lose a lot of their money.
Eg it was trading at around 30p a share several months ago.
After the failure to attract more capital into the project the price fell to around 5p.
So assuming Anglo are thought to be wanting to pay around 7p. Then some investors will lose a lot of hard earned cash!



It is of course a great shame if anyone is put into hardship through investing in this but there always seemed (to my relatively inexpert eye) a pretty high degree of investor risk. I've heard there were a lot of small local investors, perhaps wanting more to support the scheme than making a sound judgement on the risk.

I've invested privately in a number of things with similar motivation over the years and lost on every single one. May as well put it on a horse.
John Lawson
5 years ago
I see that Anglo American have offered 5.5p a share for this company, hopefully many contributors have not bought at a higher price!
derrick man
5 years ago
I’m working at present at a Tunnelling job near Peterborough, and one of the managers was at Sirius before being chopped suddenly... he seems to be expecting a call...
rikj
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5 years ago
The share price has been lower than that for quite a bit of the company's life, especially in the early years. Hopefully a lot of the 85,000 retail investors were early adopters and might even make on the deal.

I suspect though, that a lot of them bought around the 20p mark. Sirius Minerals shares very busy today, both buying and selling.

sinker
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5 years ago
"John Lawson" wrote:

I see that Anglo American have offered 5.5p a share for this company, hopefully many contributors have not bought at a higher price!



I'm up by nearly 500% in play money but still won't be betting the ranch on it just yet :(

Yma O Hyd....
Jim MacPherson
5 years ago
Well at least the project will probably go ahead;

https://www.bbc.co.uk/news/business-51733402 

Although I suspect there will be quite a few disgruntled investors.

A pundit on BBC Radio 4 Today (yesterday!) did suggest one specific problem for the polyhalide market is a substantial expansion in global potash supply which will be entering the fertiliser market in the next few years?

Jim
Jimbo
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5 years ago
"Jim MacPherson" wrote:

A pundit on BBC Radio 4 Today (yesterday!) did suggest one specific problem for the polyhalide market is a substantial expansion in global potash supply which will be entering the fertiliser market in the next few years



Was there ever a Global Market for Sirius's 20MT per annum, probably even less so in light of the expansion you mention. Boulby are already there selling to the market and ramping up to 1MT per year. Some of the sales that Sirius talk about are options that may never be realized, though I'm not sure of the percentage. Still good news it will go ahead, even as a somewhat less profitable proposition! :thumbup:
"PDHMS, WMRG, DCC, Welsh Mines Society, Northern Mines Research Group, Nenthead Mines Society and General Forum Gobshite!"
John Lawson
5 years ago
I see that Anglo are now claiming that they have the necessary votes in their favour, to take over the mine and hopefully see it through to fruition!
I also note that some investors are stating that Boris will not back investment in North if England projects, and that some investors were expecting a Government buy in!
However I feel the government’s policy is not to get to involved In mining projects, since presumably they will only benefit a few voters!
However we will see what Anglo will make if the project which has already a £1, billion investment in it!
pwhole
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5 years ago
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