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You're welcome Potashman, Viaticum & SL, every little helps..
yes, I raised this yesterday , so all sorted no additional spreaders needed to apply to crops, thanks lostinthecasino for taking the time to get to the bottom of this, very much appreciated and thankyou for you time. P
They knew about the article - and had worked with the journalist on it - but hadn't picked up on the error.
Thanks for relaying your enquiry LITC, I would have hoped that someone in the company would have spotted the error before anyone else! Clearly by their own admission they hadn't seen it. Regards V
Good job LITC......and relax. Prost SL
So, I have just been in discussion with SXX HQ on the subject, and gladly it's a good outcome. I had a useful chat with their head or corporate communications, whom I directed to the offending comment in the Telegraph article about farmers requiring additional storage and equipment if they used . He had not noticed it, and the good news is that it he said this was factually incorrect: farmers would not need additional storage and equipment if they used Poly4. We agreed that it might be a good thing to put out tweet or such like to correct the inaccuracy for those who might have been concerned, what with the AGM coming up, and he was going to speak to a few colleagues about it. We'll see. ATB, LITC
Fair points gents If the ferts markets are persuaded and the prerequisite Poly4 demand is there, then blending multiple blends in-house would appear to be a needless challenge. If not, then as mentioned, perhaps future licensing would be an option. I wouldn't rule an investment in satellite blending facilities out either. The company has indicated the path to ST2, but as LTIC mentions, they did the same with ST1. We are a unique company with a unique product. To rule anything in or out would seem sensible. Dare I say expect the unexpected here. Prost SL
JORC is an international standard form of measurement recognised by all interested parties in the commodities business, my point was the actual resource is only approximately 7% of the licences area held by Sirius, The salts were laid down 100 million years ago and stretch to Germany , not much Poly over there though:-). it's called the Zechstein sea/basin, hope this helps, regards Jesse
Should the Telegraph report be factual I really don't think farmers are going to worry much about revising their storage facilities for the next 100 years. It might even be a sensible approach if it results in efficiencies. Woolybac might have a view on this?
https://poly4.com/site/assets/files/1203/2016-minnesota-usa.pdf Potato {Trial Results} pg 4of4 Net Return Findings: Pre-Planting to Harvest Increased application flexibility for fertilizer programmes with POLY4. POLY4 decreases fertilizer spreading passes and cost. Treatment (Product by kg ha), and hence storage, reduced [-2065 kg ha] with POLY4 [3970 kg ha] versus MOP+Ca+Mg+S [6035 kg ha]. Applications reduced with POLY4 (-2). The POLY4 + MOP blend increased the financial margin by US$160 compared to using MOP+Ca+Mg. The improvement in net return under MOP+POLY4 (50:50) was partly due to reduction in spreading cost. Additional Info: With POLY4, potato yield increased by up to 15% compared MOP+gypsum option and 4% above the MOP+Ca+Mg+S option.
That's good to hear farmerboy. I look forward to SXX making it clear that the Telegraph comment was wrong, and more importantly in what way it was wrong. I'll leave it at that and do hope that one of the AGM attendees reading here brings the issue up for discussion.
this is no problem at all we all have our own storage and spreading equipment for both granular and liquid fertilisers. this will be a first class product and as a farmer i cant wait for this product to become available
That's my exact point Northernisler. The Telegraph printed "Using polyhalite will require investment by most users in more storage or handling equipment". This assertion simply cannot go unanswered by the company, as it is potentially damaging to the case for SXX if taken at face value. The great majority of PI's are not avid fanatics like us who follow these boards and may dismiss the assertion because we might have better information (or not).
I'm struggling to believe this to be honest and its tempting to dismiss the claim as subtle deramping. Wheres the evidence ? It s a granular fertliser which all existing spreading equipment should be able to use, possibly with some manual adjustment, and storage should be no different than for any other granular product. Farmers currently using liquid spreading techniques would have to change but again whats the problem there....they are constantly investing in new equipment as technology changes.
Super Six..I�d suspect this (and others) blend will be trademarked, patented and blended to a recipe under licence. It�s how the beverage/breweries do it.
It would certainly make sense for someone to but would surely be cheaper closer to the application site rather than in the UK. That might make it easier for a 3rd party to do than for Sirius but certainly worth checking out at some stage.
SL - See slide 19 from this 2016 presentation! http://siriusminerals.com/site/assets/files/4111/argus_fmb_asia_conference_-_april_2016.pdf Super Six!! But honestly I cant see it, but then again I dont rule anything out Also of note is the quality of our presentations have improved vastly!
I doubt that would make economic sense, SL. Blending is a simple, low-capex, low value-added activity. Blending at Wilton would involve extra handling/loading/unloading compared to blending nearer to or even by the final customer. And then of course different customers will require different blends. For me, we are best to KISS - ship bulk Poly4 to market, and leave tweaking to others.
Jesse, I think the JORC is 280million Tons of the 2.66 billion resource ? Either way a ton of he stuff. Plus I don’t have the layman’s understanding of JORC resource if you could enlighten me?
LTIC, I will not be attending this years AGM. May I point you in the direction of the investor relations dept to address the issues you raise? I�d imagine the company won�t bother to correct every article written, regardless of the recipient figures. No private investor hurts more from stage 1 dilution than Fraser does himself. It was a necessary evil without which we wouldn�t be here chatting about the project.
It's obviously not in the current plans, but any view on us blending our own ferts. Prost SL
Agreed all. We are in no rush for now. To iterate, the commitment letters and conditions president therein will determine further required sales agreements IMO. Prost SL
Scotman, regardless of any "previous publications", this negative assertion regarding Poly4 has been made in a national publication read by thousands of current and prospective investors. It needs to be addressed and in no uncertain terms. Furthermore, CF's 5 billion shares comment must be raised and is certainly NOT water under the bridge, as we the biggest attempted finance-raise in the company's history approaching, and in previous CF got it quite wrong in terms of what he laid out as the intended plan beforehand and what then transpired. AGM's are, among other things, an opportunity for shareholders to hold the board and management to account. I take that you are not interested in accepting my request and would therefore ask any other shareholders reading here to do so. Thanks, LITC
I agree with Mysotis and Scotman about this - I suspect and hope that it is we, with those empty rectangles over Brazil, Europe, Africa and India on page 8 of the new Investor Presentation, and with MOUs and Forward sales Agreements that could be converted into TorPs, that are in a strong bargaining position. Any major distributor wanting to get early-bird pricing may need to sign up pretty soon, or find that we can complete Stage 2 without them. And on price, while the overall guidance has been for an average of $145/tonne, the announcement wording for individual TorPs is deliberately vague, and anyhow the price moves according to market prices of (some of) the components), eg Wilmar 26 Oct 17: "The prices to be paid pursuant to the Agreement are calculated using a formula linked to the market price of certain nutrients contained in POLY4 and is broadly in line with the Company's existing supply agreements.". So maybe $145/tonne is already an underestimate...
Poly4 is designed to be spread using current spreaders. The spread coverage has been taken into consideration and has been detailed in previous publications. The 5 billion shares being ridiculous waswithin a video interview. However, stage 1 finance which took us to this point is coming up for 2 yrs old now. It�s water under the bridge. Draw a line, it is what it is. It was needed to get the project moving. And moving it is! Onwards!