Sirius Minerals Update #15

Following the update in May, the Sirius Claim Group has been working with potential legal partners to consider potential claims.

There are a number of different claims that are being considered but, in all cases, they must pass the significant challenge of not only being considered technically viable by both legal and financial partners but also, that any derived awards/damages/compensation must substantiate the time, effort and risk of pursuing.  It follows therefore, that reviewing potential claims is a time consuming and very detailed piece of work but we are confident that this stage of the process will be concluded by April next year. We would also remind readers that despite all the hard work that has been done so far, there is no guarantee that a viable claim as outlined above will be found.

As we enter this final period of review, the more information we have to corroborate what we know, the better. Therefore, we would welcome contact from any previous employees of Sirius Minerals if they have any information to share, this would be confidential and can be anonymous. Simply email us at:  siriusclaim@montana55.co.uk

We truly appreciate that it is frustrating for ex-shareholders that we cannot provide further detail at this stage but, this is to ensure that we do not prejudice any claim(s) and we ask for your patience and understanding.

For those that have followed the related news over the last 20 months you will have seen that Anglo American have now removed Chris Fraser from the project, meaning that all the original management has now been changed. Additionally, they have made both financial and timescale reassessments of the project. Maybe they also now think that everything previously stated was not necessarily correct.

Wishing everyone a Merry Christmas and a happy New Year

 

Best regards,

Paul Anscombe

Chair: Sirius Claim Group

20 December 2021

29 Comments
  1. David H says:

    …so what is the basis of any claim? – Yours an unhappy ex-Sirius share-holder or now an only slightly happier Anglo-American share-holder…

  2. Rob Morrison says:

    As a private shareholder I lost £40k, when Sirius management virtually gave the company to Anglo American.

    • David H says:

      Rob I am sorry to hear your hard-earned cash went the same way as mine (!) but the loss of money backing a speculative purchase is not grounds for legal action; however, potential mis-management at Sirius is a different matter…!

  3. Rob Morrison says:

    I don’t disagree & do understand. However, the way the management sold out their shareholders, was a disgrace, even more so when the MD took £1+m on the deal.

  4. Daniel Lawrence says:

    I’m not holding my breath for this to come to fruition but I really appreciate what Sharesoc are doing by looking into this. I’ve got the mindset now that my hard earned savings are gone and if does go anywhere it will at least be something to help get myself and many others back on track. I’m well aware with any investment there is a risk but this project was massively oversold by management as the goose that laid the golden egg when it wasn’t all going as well behind the scenes as they said it was.

  5. David Harris says:

    It would be interesting if any legal grounds have been established or (possibly) close to being established…

  6. Andy says:

    I lost about 30k investing in Sirius. Am I supposed to provide evidence of this to share doc or sit tight for the time being ? I don’t want to get missed if part of those losses are being returned to investors. Unlikely I’m sure but live in hope.

    • Mark Bentley says:

      Hi Andy,

      The ShareSoc/Sirius team continues to work with legal firms to establish whether there is a viable, fundable case that can be brought, on a no-win no-fee basis. If, ultimately, a claim goes ahead, we will be in touch with you, as we have your details and interest in a claim and will ask you to register with the legal firm that is managing the claim. As long as you then do that, you will not miss out if the claim is successful.

      So, please sit tight for the time being and we will let you know whether the claim proceeds, or not.

      Thanks,
      Mark

  7. David Harris says:

    How do we check if we are on the list?

    What currently are the grounds for a claim… Mismanagement?

    • Mark Bentley says:

      David,

      To go “on the list” you need to join our campaign, here:https://www.sharesoc.org/campaigns/sirius/#join. Make sure to tick the “I would probably join a claim” box. You have not signed up yet. Anyone that joined the ShareSoc Sirius group is “on the list”.

      Potential grounds for a claim remain confidential, whilst the Sirius group team works with legal firms to establish whether there are sufficient grounds for a claim to have a realistic chance. A lot of evidence has been brought together which needs to be worked through. We don’t want to forewarn opponents of the details of a claim – nor to publish anything potentially defamatory, until it’s been reviewed and validated by legal experts.

      Best,
      Mark

  8. Thomas Miller says:

    Second by second minute by minute hour by hour day by day updates
    Sirius minerals were very clever sucking in investors,we have the orders by tonnage for polyhalite
    Their made our investment exhilarating, we were blinded with big machines and concrete segments,colour pictures, tracking boats, music,pictures of giant potatoes cabbage and carrots
    Money was being burned with local good causes to buy the locals,

    I rang my broker first time we never got the finance, that was the time Fraser was out swimming
    My broker laughed and said and I quote, the people who provide the finance are not at their desks they are on holiday,

    We had another share issue was it 22 pence it cost me thousands to take my offer up,
    Why did they ask shareholders for more money,just before they never got finance,
    I’ll never understand that,

    Chat rooms with I suspect planted employees or shorters
    How many lines read this is 3p stock, I laughed at that, but I never laughed for long,

    Pictures with local MPs the mayor the chancellor of the exchequer Hammond
    The delegation to China with the prime minister and well documented and publicised
    The deal with ADM partnership the Brazilian partnership China partnership
    The suspicions deal with the lady with the big hat from Australia
    Promotion from the AIM to the 250 and we had not earned a penny
    Fraser was a guru at raising finance with fortiscue with all his palls,
    It was just a matter of filling out the forms

    I even had polyhalite samples sent to me,Tristan pottas
    So we’re did Sirius get all the polyhalite for the trials, boulby by any chance that was handy ehh

    The tunnel fiasco all of a sudden it was to cost more lots more
    The bad news had started and it never stopped
    Now what about the lady reporter from the daily mail, she mis quoted Chris Fraser
    He was going to take Sirius private oh really that’s a miss quote Tristan pottas

    First stage finance second stage finance that’s clever

    One thing is clear shareholders kept on giving Fraser and his gang kept on taking buying and giving it away
    The reporter from the daily mail is our star witness,
    Was their ever likely to be any finance
    Was it all a con
    Was this the plan from the start

    Why did we get just 3.2 pence a share
    Who bought shares
    Who never bought shares that should have bought shares
    Who was the annalist who made the last video and his company bought all the shares
    He was dismissed for loosing millions and he was singing Sirius praise the lord
    Anglo America dumped Sirius minerals shareholders as fast as they could

    To this day Anglos American are using the same script this seam of polyhalite is worth billions
    For years to come job security employment big potatoes and carrots

    Funny how it wasent worth two ballon’s if you were a Sirius minerals shareholder
    I wish everyone who invested all their hard earned cash all the best

    Funny how all the puppets disappeared
    I can only hope in the interests of fairness justice will be served

    • Thomas Miller says:

      The boss of embattled miner Sirius Minerals has suggested that investors may have been badly advised when they backed his company. More than 85,000 retail investors face heavy losses after Sirius’s $3.8bn (£3bn) fertiliser mine project in the North York Moors was thrown into doubt last week when it failed to raise $500m in bonds.

      Chief executive Chris Fraser said: “I read stories where people seem to have over-invested or probably not taken the right advice. I feel very bad for those situations, but we have been clear about the opportunities and also the risks.”

      went from hero to the villain overnight

      • Thomas Miller says:

        Sirius Minerals has launched an internal investigation after a senior worker was allegedly heard discussing the controversial takeover by Anglo American with a hotel barmaid before it was publicly announced.

        Local resident and Sirius shareholder Andrew Green claims that on January 7 – the day before Sirius told the stock market about the takeover of the struggling potash mine in Yorkshire – he heard an employee loudly talking about a deal with Anglo American that was going to be revealed ‘as soon as tomorrow’.

        Green’s allegations come as the mining company fields criticism for a spike in its share price on January 7 – the same day he overheard the brazen pub conversation.

        A source close to the deal confirmed that the announcement was rushed out on January 8 in a bid to avoid getting on the wrong side of regulators.

        Green, 46, said he had been taking his dog for a walk along the beach in Robin Hood’s Bay – a fishing village south of Whitby in the North York Moors National Park, close to Sirius’s Woodsmith Mine – when he stopped at the Bay Hotel bar.

        • Thomas Miller says:

          Steve Davies, Manager of the Jupiter UK Growth Fund Why did Steve invest in Sirius minerals
          He lost his job
          Sorry I am unable to find the lady from the daily mail who was on a site visit to woodsmith mine when she reported Fraser had other ideas, what did she really uncover

          Their is a minimum value of a ftse 250 company and it’s not two ballon’s

  9. Thomas Miller says:

    85000 thousand shareholders gave Fraser and his gang a vast amount of money
    All he had to do was organise finance
    Did they actually try an organise finance
    He just kept on asking the shareholders for more money he was like a wasp in a jam jar kept changing the plan,
    The finance was in the post,and it never arrived ever always tomorrow
    The planing the detail the implementation of the project was mind blowing
    Who was Fraser really working for
    Who was ready behind Fraser getting the mineral rights
    The nice guy from Australia personally persuaded the land owners to agree
    To a fee for tunnelling under their land,
    Ohh and it was in the National park
    Fraser, pottas ,Clarke ,scrimshaw ,rhinheart,the non executive members of the board
    They could move heaven and earth but they could never organise the miserable finance
    After meeting all the milestones required to pre qualify for it
    Remember did we pre qualified for government aid at the very start remember that interview
    Proactive investors,

    So infact all these very clever people who worked with Fraser at citi group and all the large institution’s who
    We’re bussed around woodsmith mine on a daily basis, to see concrete blocks and boring machines
    Could not see or hear finance was never going to arrive

    Who was responsible how and why did we get promotion to the ftse 250
    When we had not earned one penny in revenue but the company was valued at two billion,

    The double seam of polyhalite was an asset worth hundreds of billions of dollars
    Let’s not forget the gypsum and the salt,

    So did Fraser and his gang bleed the shareholders dry
    With no intention of getting finance
    They let the clock tick tock down till any offer was better than nothing

    The spending on the project never stopped, it was spend spend spend
    And Sirius mineral could not raise a dollar

    How much did the government pump into the steel works at red car
    Around the same time

    I invested on the information that I was given on the RNS and all the company’s promotion
    And build updates,

    Who was really behind the biggest shareholder scam Great Britain’s ever seen
    And it never even got a mention

    600 billion and a 50 year life,
    Tristan pottas sad it will see him off

    No Tristan it seen us all off at great expense to 85000 shareholders are we all wrong

  10. Cliff Weight says:

    A quick update from Cliff Weight and Paul Anscombe 8 May 2022: We are pursuing a line of investigation following legal advice. Until we get some proper response then there will be nothing to report. The possibility of a claim is still in review.

  11. Peter Harris says:

    I lost a very large amount on Sirius, so thank you to any/all who are trying to get some justice done. In my opinion, collusion was happening between the interested parties in Boulby and Westminster – the evidence trail will be there if anyone is motivated to look for it.

  12. Robert Morrison says:

    I lost £40k on the acquisition of Sirius Minerals, by AA. Sirius directors whilst encouraging their private investors to support them, they sold us out. Unbelievable!

  13. allan whiles says:

    I followed and invested in Sirius for 5years with confidence in Chris Fraser and the fact that it was one(of 13) projects under the ”Northern Power House” proposal . which was later endorsed at Prime Minister;s Question time in the House of Commons by Theresa May.The project was backed up by a great deal of confident constant publicity by Chris Fraser and a number of Investor Gurus.I answered every call on rights Issue up to the final one in May 2020? which raised £400 mil.Up to that point the project had made consistent progress which then only needed the raising of the £500 mill bonds to cotinue with the final stage.All it needed was the Government’s backing of the loan(no financial. payment} which had been promised from the early days of the project . What happened to that promise?
    I suspect ther were some background discussions between certain government mnisters and the ICI chief of the company across the valley. Also there must be a question about the integrett of the Sirius board to ask for that last £400mil Rights Issue and then months later sell the company for that amount.That was our investors money.
    Finally.the curt almost unpologectic (out of the blue) statement made by the then Chairman was devastating and showed almost a disiinterest in the happenings.A sad ending to a bold and exciting project which I was proud to be part of but leaves a very bad taste inthe mouth.
    P.S Ilost £60.000 and unfortunately £20.000 of it was may wife’s who never buys a raffle ticket.I am constantly reminded of it during 60 yrs of marriage.

  14. David H says:

    Allen, I fear I am repeating myself… I am sorry to hear your hard-earned cash and that of your wife went the same way as mine (!) but the loss of money backing a speculative purchase is not grounds for legal action; however, potential mis-management at Sirius is a different matter…!

  15. Thomas Miller says:

    Any update

  16. Paul; kEUTGEN says:

    Looking for any updates regarding legal redress please. Invested and lost £100,000 .

  17. Jack says:

    Hi Sharesoc, tomorrow marks a whole year from the latest Sirius Mineral post here, has this claim been put to bed or is it still alive? that’s all I ask no detail needed.

  18. Cliff Weight says:

    Hi Paul and other readers. I can confirm the claim is still alive and we pursuing a line of enquiry. It is however taking much longer than we expected. I am sorry that I cannot be more forthcoming at this stage.

  19. Richard Taylor says:

    I lost a large amount of money when Sirius failed. I felt like I’d been deceived and conned at best, mugged at worst. It’s has long term effects on my mental health and my life. I buried my head in the sand and tried to forget about it. On a recent trip from Whitby to Scarborough, by pure chance I drove past the Woodsmith site. I felt physically sick. I googled Sirius Minerals when I got home and came across this site. Well done to you guys and more power to your elbow. I’ve signed up for updates and look forward to watching progress.

  20. Derek Phillips says:

    I was a shareholder in Sirius and lost about 25k. Do I need to sign up for any potential action or as a previous shareholder will I be included or contacted if any action goes ahead ?

  21. Janet Cross says:

    is there any news regarding this issue?

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