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
…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…
As a private shareholder I lost £40k, when Sirius management virtually gave the company to Anglo American.
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…!
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.
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.
It would be interesting if any legal grounds have been established or (possibly) close to being established…
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.
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
How do we check if we are on the list?
What currently are the grounds for a claim… Mismanagement?
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
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
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
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.
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
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
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.
Has there been any update or a potential deadline for a response?
Thanks for the hard work.
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.
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!
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.
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…!
Any update
Looking for any updates regarding legal redress please. Invested and lost £100,000 .
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.
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.
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.
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 ?
Hi Derek,
To be informed about any action, you should join our Sirius Shareholders Group. Make sure to tick the “Yes, I would probably join a claim” box.
Otherwise, you will probably not be contacted.
Best,
Mark
is there any news regarding this issue?