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Agreed SL. And like Chesh, I had not been had a clear understanding that the farmers would need more storage and/or equipment - although I had already understood the reasons why - but had (it's seems erroneously) assumed that this would be taken on board by the distributor in terms of blending and distribution frequency.
Hi I started investing in SXX a few years back, 6p, 12p, 14, 18 and recently 34p I have not followed the updates for sometime but I think that we are now at a crucial point in the potential growth of the company, I am considering topping up again, can any of you who have followed events more closely comment on the following:- 1) is the D-Walling on schedule 2) J P Morgan had the following concerns : ( �On a practical level, a concern we've had was SXX's capability to negotiate new deals across multiple jurisdictions and to what extent this may impede the targeted take off " ) any feedback would be appreciated, and thanks for all of the positive work done by many on this forum which is of benefit to us all,
Thanks gents, much appreciated. As clear and concise an article on our project as I've seen...... Prost SL
Thanks for that C&P Viking, a good read..... didn't consider that farmers might have to invest in more storage and equipment mind.........! All the best (hope it's worth they're while to!)
I was going to say something similar LL, I do hope John realises this will be a very long race, All the best (fortunately, there's only one horse :)
Hi Fred.....the thing is ,if you put your money on a horse, the thrill lasts for 5 minutes.....if you put your money on Sirius, the thrill lasts for years.....(er...and the pain!).....
It is the type of project, Clarke suggests, the UK needs. �As a country we have to take advantage of these opportunities,� he says. Sirius believes it can knock 7pc off the UK�s trade deficit by making around �2.5bn in exports a year. With its promise of 2,500 jobs and �500m in annual taxes, it�s small wonder Teesside Mayor Houchen is lobbying hard for Sirius: �The Government should be giving them their requested Treasury guarantee. It�s a more than credible project. And it�s good for our area.�
Graham Clarke, operational director, insists. Sirius site Two shafts will be sunk to a depth of 1,500m (4,921ft) Clarke is the man with the job of building Woodsmith. It will be the deepest mine in the UK, and second deepest in Europe. When operational, around 100 people will work underground in 40-degree heat cutting and blasting the rock-hard polyhalite. The underground conveyor belt to Teesside will travel at a depth of 360m (1,181ft), through a tunnel roughly the size of a train carriage. �We�re always pushing boundaries,� says Clarke. �There�s a huge heritage of mining here. To be part of putting mining back on the map, I couldn�t not do it.� A former boss at the nearby Boulby mine, Clarke can claim to be one of the few people to have actually mined polyhalite. Boulby was established in the Seventies to mine potash near the surface but at Clarke�s instigation switched its focus to polyhalite. Aside from Woodsmith, which sits on a deposit so vast it will have at least 50 years of mine life, there are no other polyhalite producers in the world � which makes it something of an unknown quantity. A 2015 report warned that Sirius would �need to be highly competitive on price in order to sell the volume� it needs to, and to convince farmers to bet on polyhalite. �Using polyhalite will require investment by most users in more storage or handling equipment,� analysts at Fertecon found. �[It] is unlikely to completely substitute another product.� Sirius site Sirius hopes to create 2,500 jobs JT Starzecki, Sirius�s marketing manager, has the job of travelling the world and convincing farmers that they should switch to its natural fertiliser blend. He has a raft of agronomic data commissioned by Sirius behind him. �Every farm in the world uses a subset of the minerals in polyhalite,� says Starzecki. Farmers are �asking for alternatives and recognising the value of secondary nutrients�, he adds. The global market for potash is rising and the world is only going to need more food. �We just have to understand how farmers decide what to buy and when they buy it and where they get their recommendations from,� he says. Sirius�s case rests on a claim that it will have the lowest costs in the industry once it gets up and running. It is the type of project, Clarke suggests, the UK needs. �As a country we have to take advantage of these opportunities,� he says. Sirius believes it can knock 7pc off the UK�s trade deficit by making around �2.5bn in exports a year. With its promise of 2,500 jobs and �500m in annual taxes, it�s small wonder Teesside Mayor Houchen is lobbying hard for Sirius: �The Government should be
mineral rights; Sirius is already paying out �a few million� each year to home owners. Yet the battle for planning permission was even harder. �It�s been a right roller-coaster � but we�re building something pretty special,� says Woods. For him, the mission has a personal element, as his father was one of the geologists who identified the potash lode. The four-year planning battle was won 8-7 on the day in 2015. The council had done its due diligence, commissioning a series of reports that scrutinised everything from the mine�s environmental impact to the saleability of its potash � or, strictly speaking, its polyhalite, a naturally occurring fertiliser that also includes potassium, calcium, magnesium and sulphur. Sirius has been at pains to comply with all environmental demands, planting trees and promising to build an artificial island for migrating birds. Sirius site The Woodsmith mine from the air Sirius�s approach may one day be regarded as a textbook example of how to win hearts and minds. Its charitable foundation, with an annual budget of �14m, has been busy fixing community hall roofs and paying grants to schools. Fraser�s well-honed pitch has gone down so well that many locals are now investors. But this only adds to the pressure on the Australian�s shoulders. �Nothing�s been easy,� says Fraser. �The hardest bit was the planning. So much was out of our control. You had to hold your breath and hope.� After so many years defending his project, Fraser has a guarded quality; wondering, perhaps, how a post-banking career developing global mining projects turned into an extended stay in Yorkshire. �It became all-encompassing,� he explains. Chris Fraser Man with a mission: Chris Fraser After winning planning permission, Fraser�s other big success to date is securing �1.2bn in stage-one funding in 2016. This included �245m from Australian mining billionaire Gina Rinehart. His next job is to win �2bn in loans from its banks. To do this, he needs to sign up a few more customers for Sirius�s polyhalite. It has 4.4m tons in offtake agreements already, but would like closer to 6-7m of its projected 10m per annum output. Fraser also wants the UK Treasury to sign a debt guarantee facility. Small wonder if, by his own concession, he cuts meetings short when he feels people are wasting his time. At the Woodsmith mine, the funding raised so far is paying for the preparation of the two shafts that will be sunk to a depth of 1,500m (4,921ft). The site is in the one of the highest parts of the national park, with just 11 houses in the vicinity. A protective wall of trees and earth will soon blot out the view of Whitby and the sea, 12 miles distant. Locals were more concerned about the impact of traffic, rather than long-term environmental damage, Graham Clarke, opera
Sirius site Jon Yeomans 12 MAY 2018 � 10:00AM The Wilton International chemical estate on Teesside is a windswept expanse of scrubland and giant industrial hulks. Power stations rub up against a Tesco distribution centre and a hi-tech ethylene cracker, a warren of twisted metal towers around a squat cooling tower. High fences, CCTV cameras and checkpoints are reminders that some of the UK�s most important oil and gas lines come ashore here. In a matter of weeks Wilton�s newest tenant hopes to break ground on one of the biggest projects Teesside has seen in years. Sirius Minerals, the ambitious fertiliser producer of the FTSE 250, wants to transport its product 23 miles underground from its mine in Yorkshire to process and ship it from new facilities at Teesside. Engineers will soon begin digging the entrance of the tunnel at Wilton, from where it will be transported just a few hundred yards to the mouth of the Tees. Sirius wants to build its own loading dock at Teesside. Before then, however, it hopes to make use of the dock that shipped metal from the steelworks at Redcar, which closed in 2015. The abandoned steelworks, at the tip of the Wilton site, casts a long shadow over the area. Sirius has proven many of its doubters wrong. But with work on its mine set to begin in earnest, and a second round of funding sought this year, bigger challenges lie ahead. Can it finance and build one of the biggest engineering projects this country has attempted in decades? And can it actually sell the potash-based product it seeks to mine from the depths of the North York Moors? �� ADVERTISEMENT �� �It�s the single biggest private investment in the �northern powerhouse� and indeed all of Europe,� says Ben Houchen, the Tory mayor of Tees Valley. Houchen is keen to let people know that �the Teesside economy has been better than people think it�s been�, with unemployment hitting a record low. But he acknowledges that many of the former steelworkers are now in lower paid jobs. �[Sirius will create] manufacturing jobs we�ve not seen in the area for many decades.� The former steelworks The former steelworks at Redcar Will Woods agrees that the project will be just as important for Teesside as Yorkshire. Once Sirius has built its mine � it has an end date of 2021 in mind � it will concentrate on shipping as much of its fertiliser through Teesport as possible. Woods came on board in 2011 as the right hand man of Chris Fraser, the Australian former banker and chief executive of Sirius who has pushed this project forward with sheer bloody-mindedness. In the early days, Woods and Fraser �went from pub to pub�, holding meetings with locals to convince them of the merits of digging a vast cavern under the national park. The charm offensive resulted in them locking down hundreds of miner
Thanks D Cut and paste the article anyone? Ta in advance Prost SL
Like LL I’m quite interested in what your original stake was - how cool now to put it into Sirius at this stage and if all goes well how much could that original amount grow! Having been to the races quite recently and missed out on an accumulator by one place in the last race I’m very jealous of your win!
My half a penny view: Using 7Bil MC in few years (assumed by banks, Cash Flows etc - .... I know, it could go a lot higher on price and up to 20 m tonnes, but let's stay sensible with raising expectations ...): Say after all dilutions, SP abut 1pound ... assume 2021 when production starts (on time). Now is about 30% of this 'no risk' SP. Building mine risk 30%, Sales / Commercial risk 20%, ST2 financing 20% = 70% of the discount in SP from 'when ready and starting' to now. IF we get a ToP announcement in June (after the AGM approves the new exec compensation), the sale risk pretty much goes, I think SP will go 45p. ST2 likely in the bag, but when finalised by end of the year, SP could go 50-60P (same range as JPM and others are using). II will start investing as we only have the build risk to execute. This means Tom gets his bonus, CF has Options at 43p expiring in September, so he can cash something in. All happy!. If we don't get ToP or indication that the banks agreed concept financing deal by end of June (company milestone), I think... we need to be prepared for a SP shock..... I hope not (hence I topped up yesterday another 100k). We are a news driven investment here (as we do not generate any cash yet), but, as good news come in and confirm executing of the overall plan, we all benefit. in the meantime, SP will 'float' around current levels, +/- few %, more on sentiment than fact. I regret for not spotting this investment 5 years ago, but got in the past 2 years = Long term. Personally, I am in the 1 pound club! GLA
Hi all, does anybody have an idea what the UK demand for POLY4 is likely to be to supplement international demand? Thanks
A TorP stands for take or pay and is a contract to supply poly4. When we are in production they have to take the product or pay a fee for not taking it. The terms of the contracts are confidential and all we see is the length of the contract and the max taken on the last years. Eg 7 years ramping up to 750.000 ton. There may also be option to take more. We are still needing about 2 million ton TorP so you will hear a lot of chat about this over the next couple of months. D
74, did you move them from a SIPP or a trading account. I have access to my SIPP in a couple of years and plan to move shares to my ISA but not sure if it's a good or bad idea. D
Hello chippiejohn......how did you win 25k.....how much did you bet on each race...now many wins....well done ,anyway.....torp is a contract signed by a distributor, to sell poly4, which is sxx product. Torp stands for ..take or pay, which means that the distributor agrees to sell a minimum amount of poly4 or just pay for that amount......the other sxx mnemonic is ..ST2.....which refers to stage 2 financing, being the money we need to finish the mine.....
I’ve never bought a share in my life but just had a cracking 3 days at Chester and I’ve got 25k to spend and Monday morning will be putting it in Sirius and forgetting about it for a year or 2 but some of the codes like torps and others I can’t get my head round could someone please enlighten me
I asked, Will Sirius mine be built. She answered, Almost certainly not. Guess she sold up :) OR
Now back from Sicily - geo-anorak's paradise!! Just thought I'd say something on your: "I have been very cautious with money throughout my life, never throwing it around and have worked my nuts off, so this is the one big gamble that I am taking, I will never 'bet' this amount of money again. If it goes south, it will F@@kin hurt bad, but I guess that is the risk." Yes you are..........But it's good you are very aware of that. Eight years here now with Sirius. Early on was quickly taken by the attractiveness of the proposition once Fraser took control and so had near 100% of high risk investable savings in this. but after time (particularly the first planning 'one-nil' to France, planning setback) I found the volatility too stressful. Traded since to reduce to a far more acceptable av ~40%. Some 25% in other non chloride, multi nutrient fert developers, rest of high risk port-f in industrial metals, emphasis on tungsten and copper. Diversification helps one sleep well, whilst trading the volatility pays for a retirement 15y before the Gov will provide...........And climbing volcanoes!! Next decision point on Sxx I see as resolution of St2 funding, Then the long build out. ATB. GK.
Rkh similar sp to sxx and also rising. Any idea which will be the best this year? Just sold out here before last drop but in hindsight shudda held on.
More luck than judgement, you should put more trust in those lines. Only 0.8 out, or stop being such a gent by letting me have 1st dib’s. It’s another pint by the way. Hick ;) I’m going for the hat trick next week ;)
No point paying tax on them!!!