Sirius shareholders vote for Anglo American bid

Anybody got any videos of the shareholders meeting?

I gather it got a bit heated, Obviously the company had over estimated the ease with which they would get finance and have almost ran out of cash, just 50% of the way into the mine's development. The Government was not interested in helping out (so much for Northern Powerhouse) and neither was the vast majority of the City of London (even though one its main purpose was the raise money for risky projects)

There were 85,000 small shareholders including RW (for a small amount). Most of these shareholders live in the North Yorkshire area. The shareholders meeting was in Shoreditch in London.

I am pleased to mine is going ahead as it does bring some money into the Whitby, Scarborough and Teesside area, longer term.

I agree Anglo American have got a bargain, but there is risk still that the mine got lose money. Most City analysts agree they got a deal and its a good fit for their mining portfolio.
 
It looks like Anglo American have resumed work on the mine. I didn't realise that 7 miles of the tunnel has already been done. Where will it pop out of the ground?
 
HundredRoom said:
Think anglo got a good deal there.

Shareholders say yes
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I’m not sure it was anywhere near as good as they thought, they inherited an Australian senior management team apparently with very limited experience of this type of work and rumour has it that it’s not been run as the tightest of ships up to now with some major and very expensive technical and commercial mistakes. No doubt Anglo will eventually get to grips and the job will start to be run properly going forward.
 
Anton_Berg said:
It looks like Anglo American have resumed work on the mine. I didn't realise that 7 miles of the tunnel has already been done. Where will it pop out of the ground?
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The tunnel pops out of the ground at Wilton. The Whitby end of it remains 350m underground. The tunnel is currently somewhere near Burk Brow.
 
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