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Author Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
rikj

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Joined: 27/12/2008

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 22/09/2019 22:27:19
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An article from the early days with lots of good background, puts a more human face on the story. (The FT only gives you one free article per day, so this won't work if you've read another already)

https://www.ft.com/whitbymine

Can't imagine the Crown Estate or the Duchy of Lancaster will like the thought of their royalties not materialising. Likewise 400 North Yorkshire farmers.

The contractors are on site, all permissions are granted, lets hope some creative funding ideas get it through.
IP: 86.169.14.23 Edited: 22/09/2019 22:28:50 by rikj
Jim MacPherson

Joined: 02/09/2015

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 23/09/2019 08:38:17
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rikj wrote:



Can't imagine the Crown Estate or the Duchy of Lancaster will like the thought of their royalties not materialising. Likewise 400 North Yorkshire farmers.

The contractors are on site, all permissions are granted, lets hope some creative funding ideas get it through.


I suspect the Old Pretender could rustle up £400m by just having fewer boiled eggs being prepared for him daily! but shareholders, by the nature of capitalism, are the primary risk takers, so if it works loads of money, if it doesn't they lose all, if that deal doesn't appeal they shouldn't play the game (unless they own banks of course).

Re FT, I used to get a limited number of free articles then that stopped and they told me the only access is via the paywall yet you and my brother seem to still be getting some access, so unfair Crying

Jim
IP: 109.151.207.234
sinker

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Joined: 13/12/2010
Location: North Wales.

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 23/09/2019 09:49:11
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Jimbo wrote:

Couple more articles!

https://www.standard.co.uk/business/small-investors-suffer-as-giant-uk-mining-plan-in-yorkshire-nears-collapse-a4238791.html

https://www.proactiveinvestors.co.uk/companies/news/902947/sirius-minerals-yorkshire-mine-will-be-on-ice-for-a-while-after-financing-collapse-says-proactive-research-analyst-902947.html


How sad that someone can be advised or even *allowed* to plough their life savings and pension pot into anything like this. I know friends of family in and around Whitby who have put in more than they can afford to lose. Nice people but they need protecting from themselves sometimes.
The whole project will probably come off and be completed one day but probably not in any way that will help small investors. By the time it has been re-financed a few times it will be unrecognisable Sad



--

Yma O Hyd.... ta-ta ty hâ... IP: 88.97.24.95
John Lawson

Joined: 09/12/2010
Location: Castle Douglas Dumfries & Galloway

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 23/09/2019 20:13:55
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One can only reiterate the old phase do not put all your eggs in one basket! IP: 176.248.47.214
BertyBasset

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Location: Caernarfon, North Wales

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 00:40:23
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It's shaky times isn't it. Can't be blamed on leaving the EU per se, but no one knows what's around the corner. Tighten the belt, and wait for calmer waters. IP: 86.164.23.248
Minegeo

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 07:38:31
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Not so sure you cannot blame BrexShit for the failure of the Bond issue after all this depended on a strong Pound which certainly will be / is not the case. Mining finance is dying in London and the juniors are finding it (a little) easier to raise funds elsewhere. IP: 178.167.142.140
Moorebooks

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Joined: 28/11/2007
Location: Newport, Shropshire

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 10:40:40
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Minegeo wrote:

Not so sure you cannot blame BrexShit for the failure of the Bond issue after all this depended on a strong Pound which certainly will be / is not the case. Mining finance is dying in London and the juniors are finding it (a little) easier to raise funds elsewhere.


That sounds counter-intuitive I would have thought the low pound would encourage foreign investors to get in on the cheap.

Mike
IP: 77.96.189.154
Jim MacPherson

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 11:43:06
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Moorebooks wrote:

Minegeo wrote:

Not so sure you cannot blame BrexShit for the failure of the Bond issue after all this depended on a strong Pound which certainly will be / is not the case. Mining finance is dying in London and the juniors are finding it (a little) easier to raise funds elsewhere.


That sounds counter-intuitive I would have thought the low pound would encourage foreign investors to get in on the cheap.

Mike


If the money raised is in £UK and the financing is nominated in $US, as appears the case with Sirius, a falling £ results in a more £s needed to buy the same amount of $s. I take Minegeo comments about the role of the UK in fund raising as a professional in the field, which I certainly am not.

Jim
IP: 109.151.207.234
Minegeo

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 12:03:40
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That is exactly the issue and you can add to that most large scale equipment would be priced in USD also having an impact. If GBP falls to the predicted levels with no deal with EU it would add maybe 20% in GBP to the project costs. Lets not even mention tariffs on sales into EU. Another pat on the back for the Brexshitters. IP: 178.167.142.140
Jim MacPherson

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 12:14:29
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Minegeo wrote:

That is exactly the issue and you can add to that most large scale equipment would be priced in USD also having an impact. If GBP falls to the predicted levels with no deal with EU it would add maybe 20% in GBP to the project costs. Lets not even mention tariffs on sales into EU. Another pat on the back for the Brexshitters.


Given the Supreme Court's ruling of 90 minutes ago, perhaps a no-deal outcome is now a little less likely, but who knows. What's a useful word meaning more than just febrile?

Jim
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droid

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 14:20:56
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How's the Euro doing against the Dollar?

Just googled - it's falling.
IP: 51.7.80.255 Edited: 24/09/2019 14:23:23 by droid
Moorebooks

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 14:40:12
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Minegeo wrote:

That is exactly the issue and you can add to that most large scale equipment would be priced in USD also having an impact. If GBP falls to the predicted levels with no deal with EU it would add maybe 20% in GBP to the project costs. Lets not even mention tariffs on sales into EU. Another pat on the back for the Brexshitters.


I had forgotten all the equipment industry had also been decimated and we now have to rely on another import
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somersetminer

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 24/09/2019 20:07:23
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It depends what particular equipment you are talking about, depending on what happens next month there could be a fair bit of plant stood not doing much in the UK, ought to knock hire/purchase costs down somewhat. Only a few things have to come from elsewhere IP: 79.69.16.105
rikj

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 08/10/2019 22:43:26
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In the news this week:

"A spokesperson said other options on the table could include using the initial part of the underground tunnel to extract what minerals are available and selling it".

Don't know what to make of that, what minerals will the MTS intersect? Maybe we'll see the resurgence of the alum or jet industries Roll Eyes

Or maybe the Cleveland ironstone seams will be back in production.
IP: 86.169.12.128
christwigg

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Joined: 20/02/2008
Location: Cleveland / North Yorkshire

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Construction Phase of 'Woodsmith Mine' Launched by Sirius Minerals
Posted: 09/10/2019 07:21:16
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Yes, I found that statement a little cryptic considering they've not even left the Wilton site yet from the Teesside end !

If they are suggesting taking stuff directly out of Woodsmith and moving it to Teesside by road, I suspect their relationship with the National Park will become very tricky.

Of course the 'third-way' would be underground connection to Boulby.........
IP: 90.221.11.255 Edited: 09/10/2019 07:22:15 by christwigg
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