Serius minerals.

Nash

Nash

Member
Chris Fraser pocketed 1.3 million and now employed by Anglo American. Going to be a lot of ***ed off broke people.
 
I heard he pocketed a lot more than that but it was only heresay.

Tell me how a bunch of Australian bandits/chancers got their hands on a prime UK North Yorkshire asset like that?
 
HolgateCorner said:
I heard he pocketed a lot more than that but it was only heresay.

Tell me how a bunch of Australian bandits/chancers got their hands on a prime UK North Yorkshire asset like that?
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Because the shareholders voted for the takeover?

The company ran out of cash and the Government made a decision not to support with public funds.
 
Zoophonic said:
Because the shareholders voted for the takeover?

The company ran out of cash and the Government made a decision not to support with public funds.
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Yes he made money out of his shares and also his salary of course.
The company ran out of cash because it couldn’t attract investment, it should not have needed to be propped up by the government.
Who let the Aussies get their hands on it in the first place?
 
I feel sorry for the people that lost money but it was always a gamble.

I wonder if the government would have supported the project if it had been located in the South of England
 
More chance of support - it was a partially complete project to support a Left Behind area and they showed little interest and give zero - they seem more interested in giving out 50% off meals - so much for "levelling up" All that was needed was a government guarantor on a loan. Actions speak more than words.
 
Redwurzel said:
More chance of support - it was a partially complete project to support a Left Behind area and they showed little interest and give zero - they seem more interested in giving out 50% off meals - so much for "levelling up" All that was needed was a government guarantor on a loan. Actions speak more than words.
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All that was required was a government guarantor on a loan.
All that was required??
How does anybody know if that Sirius senior team was ultimately capable of delivering that project?
A little bird tells me all was not right either technically or commercially - it’s still being sorted out and will take some time.
Why should the government put huge amounts of UK public money at risk with what was basically an Australian venture?
 
HolgateCorner said:
All that was required was a government guarantor on a loan.
All that was required??
How does anybody know if that Sirius senior team was ultimately capable of delivering that project?
A little bird tells me all was not right either technically or commercially - it’s still being sorted out and will take some time.
Why should the government put huge amounts of UK public money at risk with what was basically an Australian venture?
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Nobody knows the answer to those questions, nor to a lot more. The government can't be expected to put money into, or guarantee, a highly speculative venture that may turn into a money pit.
 
Ironops said:
As in finance/business stuff? The mine is still going ahead then? Wasnt it going to bring a few hundred jobs?
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The mine is going ahead and with the Anglo American takeover they now have the money and, possibly more importantly, the senior level technical and commercial expertise to complete the infrastructure. It will take them some time to get it turned around though, during the early parts of the project the Sirius Australian team had massively overspent and had run into serious engineering problems.
 
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