[On :freetrade:] Sirius Minerals - SXX 👾

We were looking at potential future earnings

Fantastic to see Sirius over 11 and happy and I brought more shares when the complete overreaction on the bonds issue last month.

RNS soon stating its financial position and then onwards to over 15 next.

As usual, do your own research folks.

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Sirius Minerals ain’t dead yet - I had some loose change in my account and took a punt on it! Long term is the vision, I ain’t expecting something massive to happen in the short term.

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Totally agree, it’s one of my mid-long term plays. Intending to be invested for a minimum of 3 years.

Agreed. I have change in Sirius but the concept is sound and it will happen (it is too valuable a resource not to) the question is whether the current shareholders will maintain any value which I would still say is a massive risk. If it does go bust then it is inconceivable that someone won’t buy the mine.

A bunch of new jobs added to the website, looks like they are prepping to ramp up!

https://sirius.recsite.com/

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Fingers crossed.

I think someone will buy the mine. Just like Debenhams though the shareholders would get nothing and that’s why I can’t invest yet.

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Alright, terrible announcement today, this is gonna fall big time.

One of the big investors also sold lots of shares yesterday, that was lucky…

Opened at 2p

:point_up:for anyone wondering what happened

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Not looking good for investors

had held since 2010, took some slices off along the way im glad to say but will now have to sell out completely. shame to see so many retail investors screwed over.

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Tried to snaffle a few at 5p on FT but the orders were being rejected.

Would’ve been up 200% if you could have got them at 2p :joy::joy::joy:

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Might turn out to be a lucky escape!

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Future options I would guess will be rights issue, new share issue, bond issue (again) or some fat unsecured loan or a takeover.

All of these will either dilute or decrease shareholder value / potential future profits.

As noted above, i really think it’ll likely go bust and someone will come and buy it that has the funding. Really not worth the risk, I think it’s the standard investor buying them now that hasn’t got a huge idea on future options. They’ve already said funding will have gone by March 2020, so they aren’t even a going concern anymore.

Ah damn! I’m glad I didn’t invest loads into it.

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Why did you try to buy with such a poor prognosis or was it just a hit or bust gamble they may creep back to 10p?

Also what happens if it does go bust?

Short term speculation. Although I very rarely follow that path nowadays for obvious reasons.