Sirius Minerals - The Victorians would’ve been proud ....

Saturday, Mar 03 2018 by
10

Not necessarily plugging this as an investment, but fascinating to follow the development of this polyhalite mine up in the North Yorkshire moors by Sirius Minerals (LON:SXX) . Very much a “ jam tomorrow” story stock (already a decade in the making and no production expected until 2021) but the logistics behind the development read like something from a long gone period of British industrial enterprise.

http://siriusminerals.com/downloads/shaft-sinking-factsheet/

So far barely a hole in the ground but who knows, maybe in 20 years’ time a world leader.

Gus.

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Sirius Mineral Plc is a United Kingdom-based resource development company. The Company is focused on the development of a polyhalite deposit located in North Yorkshire, the United Kingdom. The Company's focus is on developing a multi-nutrient product, POLY4, to be used as a direct-application fertilizer and as a component in nitrogen, phosphorus and potassium (NPK) blending. It has developed a granulation process, which enables polyhalite to be processed without the use of chemicals, into a form beneficial for plant nutrient uptake. The Woodsmith mine is located near Whitby, North Yorkshire. Polyhalite is an evaporite mineral comprising a natural combination of four of the six macro-nutrients that are essential to plant growth, potassium, sulfur, magnesium and calcium.The Company's POLY4 product is available in granulated, powdered or chipped form to meet the needs of its customers, taking into account their crop needs, blending requirements, application method and soil conditions. more »

LSE Price
14.05p
Change
4.3%
Mkt Cap (£m)
942.2
P/E (fwd)
n/a
Yield (fwd)
n/a



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6 Posts on this Thread show/hide all

JohnEustace 3rd Mar '18 1 of 6
3

It's taken a lot of Australian can do spirit to get it to this stage.

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gus 1065 30th Apr 2 of 6
6

Significant milestone in the development of this “wannabe hole in the ground polyhalite miner” Sirius Minerals (LON:SXX) with the launch of its fully underwritten US$3.8 billion Stage 2 financing this morning. For insomniacs amongst us, take a read through the RNS which should see you off to sleep in no time.

https://www.investegate.co.uk/sirius-minerals-plc--sxx-/rns/launch-of-stage-2-financing/201904300701035217X/

This latest round of financing should secure construction of the mine and surrounding infrastructure to completion and beyond, significantly de-risking the project (although plenty of risks still to overcome) that has looked dead in the water on several occasions in the past few years. Unusual beast in that it’s a FTSE 250 “Sucker Stock” and the share price may well take a hit today given a substantial US$400m chunk of the package is in the form of a heavily discounted equity placement, but in the long term (accepting we’re all dead in the long term) I believe today will be seen as a significant event in the project’s development. Holding an investment as much out of enthusiasm for the project’s positive impact on the local community as its underlying business case but happily so.

Gus.

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23jez 30th Apr 3 of 6
3

Hi Gus
Long time without communicating. Been to hell and back 2 or three times I have now managed to crawl back from (Dante's) circle 9  back to circle1 with the help of good medical care especially by one of my surgeons. who indubitably saved my life. It is commonly believed that doctors are more susceptable to serious complications than patient X. It was certainly true in my case. In late August 2018  I thought I should pay some attention to my portfolio.  Unfortunately I pressed the buy not the sell button. I decided I was not fit  to make serious decisions as most days my brain felt like scambled eggs.

I was discharged from hospital in November  and to my relief, my portfolio  was  virtually unchanged in, value, inspite of then being one third cash.  I felt that having made, for me, a considerable amount of money over the last two and a half years, and the demise of the ii bullitin boards in the form we knew and loved, I needed a change ofdirecton. i know you think highly of Stockopedia so I decided to indulge myself and get a subscription.  I have just started to use it.  It has already influenced my decision making. What an amazing site!!!

I hold Sirius for the long term. I was hoping to arrange a vist with my eldest grandson, who is crazy about chemistry, last summer. He knows the periodic table by heart and has been collecting minerals since he was 4 years old.

Best wishes

23jez



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gus 1065 1st May 4 of 6
1

In reply to post #472891

Hi 23jez.

Nice to hear from you and pleased that your recent health issues appear to be behind you. I departed the II boards a few years ago. Having gone on a long trip abroad, when I returned I found that they’d changed all of the formats making the site unnavigable so I moved on.

Welcome to Stocko - as you say lots of good information available and a healthy discussion forum. I’ve been using a more “factor” based approach for about 4 years now. Jury still out on this for me. Results were initially much better than previous strategies but in the past 8 months or so a number of my apparent “Super Stocks” have tanked on the back of unexpected profit warnings/corporate governance issues or just simple market malaise. My overall returns in the past year have been well behind those of my investments in ETF’s, Investment Trusts and managed OEICs so while it’s been interesting I’m clearly not adding much value!

Re. Sirius Minerals (LON:SXX) , I see they’ve published details of the equity and convertible bond placement this morning.

https://www.investegate.co.uk/sirius-minerals-plc--sxx-/rns/results-of-firm-placing-and-placing/201905010700136993X/

While it’s good that JPM have got the issues away, the equity placement at the 15p bottom of the indicated range is not great and even with the opportunity to buy shares at 1:22 held, it’s very dilutive to existing holders and will hang over the share price for a while. I’ll probably take up the offer and apply for surplus shares as I’m still prepared to take a long term view on this even if it’s the children, (or possibly the grand children!) that will be benefitting from the eventual dividend stream.

Look forward to seeing your future posts here. Always well thought through and keenly observed.

Best,

Gus.

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Paul Robinson 2nd May 5 of 6

That’s all l need another bloody Ameriser to tie money up forever

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