Firering Strategic Minerals: From explorer to producer. Watch the video here.
26 !
I'm 'looking away now', Fred.... but continuing to hold. lol
Hope you are well.
Thanks for that, Alicia
Well spotted, Cranleigh!
I agree that the increase in SP may have something to do with ISAs but that doesn't
account for '...many trades bigger than £100k'
wwguk, thank you for this eminently sensible, pragmatic post re Boulby.
An ongoing thanks to Myo, too. I would never have thought that, as an artist, I could
have much interest in the finer points of mining equipment...other than to draw it! lol
Lex in the FT
'Mining in Yorkshire: you cannot be Sirius'
'Rising costs and new financing are reflected in peaks and troughs of company’s share price'
Sorry, I don't have access to this Premium article in the FT
As long as that isn't what HMS Sirius is planning in North Yorkshire Lauren! lol
I hope you succeed Mr.dt - Alicia
Well, I think that Myosotis should have a seat on the board on our behalf!
Thank you for that, PAAA
In May 2018, Robert Goodwill said about Sirius::
"This project is a huge opportunity for the UK and sits at the heart of the Government’s Industrial Strategy agenda. The creation of thousands of jobs, increase in productivity and boost to exports will help power our economy at a critical time."
AlanG - I didn't write the article; it's from the Daily Telegraph!!
Part 2.
handled by the Infrastructure and Projects Authority, the IPA has scaled back its commitment. It is now only willing to provide $1bn, it says.
The sudden change of heart is a big blow. Sirius now faces higher financing costs and a delay of around three months, together with the challenge of raising an eye-watering $3.6bn of funding from four separate sources, not easy when your stock market value has halved in the last six months to just £940m.
Sceptics of Sirius’s plans will point to several potential banana skins. The biggest, of course, is that the company’s current cash pile is set to run out in the summer.
It is also unclear just how big the market for polyhalite, which is either spread on fields or mixed into fertiliser blends, actually is, predominately because it doesn’t current exist in any notable form.
Finally there are question marks over the level of presales agreements. The company claims it has commitments worth £2bn, including with American food giant Archer Daniels Midland, but the identities of other buyers are thin on the ground.
Still, it is hard to ignore some of the estimated figures once the mine hits full production: tax receipts of £470m a year; and £2.3bn annual contribution to UK GDP. Meanwhile, 5,000 locals have bought shares in Sirius and 300 farmers are expected to collect £1.4bn in royalties in the coming years. No wonder Theresa May spoke so glowingly about the company recently.
There’s no doubting the ambition of Sirius founder Chris Fraser, who moved his family from the other side of the world in Australia to dig a big hole in the ground in Yorkshire. Sadly, it isn’t matched by the Government.
https://www.telegraph.co.uk/business/2019/02/02/northernpowerhouse-drained-huge-lack-ambition/
Northern Powerhouse is being drained by a huge lack of ambition
2 FEBRUARY 2019 • 7:00PM
The Northern Powerhouse. Sounds good, doesn’t it? In fact, if you’re one of the 15million living there, or among the million private businesses based in the region, a proper strategy to unlock the area’s massive potential is genuinely rousing stuff. The North has been overlooked for too long and the North-South divide is only getting bigger.
The Government certainly hasn’t held back in laying out a stirring vision for a booming economy with a flourishing private sector and a highly-skilled workforce.
Yet, predictably, it has mostly turned out to be spin. Five years after George Osborne came up with the idea, very little has happened to turn this vision of a thriving region into reality.
Indeed, the Mayor of Liverpool Joe Anderson is so frustrated by the lack of progress that he has resigned from the Northern Powerhouse Partnership, saying he would “rather have Mary Berry than Jake Berry” as the Northern Powerhouse Minister. Ouch.
The Government will argue that it is ploughing investment into northern transport and infrastructure but its idea of meaningful isn’t shared by those at the coal face. Ambition seems severely lacking.
At a glance | Northern Powerhouse
A pet project of former chancellor George Osborne, the Northern Powerhouse is a plan to rebalance the UK politically and economically away from London and the South East. It was officially launched in 2014.
Key objectives
Uniting a collection of northern cities comprising 15 million people into one body to rival London
Attract greater investment into northern cities and towns
Devolve fiscal power closer to the point of spending
Improve transport to reduce travel times across the region
Create a single northern economy
Take its recent about-turn on a pledge to finance plans for a giant fertiliser mine under the North York Moors. It is precisely the type of grand project that ministers should be throwing themselves at. The mine, belonging to Sirius Minerals, is the largest private sector investment in the North and one of the biggest engineering projects being undertaken anywhere in Britain; 800 jobs have already been created and it is expected to generate 4,000 in total, in a region where the unemployment rate is among the worst in the country.
A 16-mile tunnel – the second longest in the UK – is being built more than 4,000 feet under the moors that will take the potash to Teesside, one of the worst-hit areas in Britain, on an underground conveyor belt to then be shipped out to countries all over the world, the stuff of Brexiteers’ dreams.
Yet, having secured $1.5bn (£1.15bn) in financing – roughly half the debt that Sirius says it needs to get the project off the ground – through a Treasury scheme, handled by the Infrastructure and Projects
I'm not saying a word, Myo. lol
I don't want trouble following me around again....
NewArrival - it's lovely...thank you for posting.
Just for the record guys, I first started investing in SXX in March 2016.
J and RB
I'm so sorry to have upset you both this much; I hadn't appreciated that I am such a hypocrite - youre right!
Please forgive me, but please, also, stop hurting Fred; it's really not necessary.
Hi Jonesrichard
I am with ii and there is a facility for checking the real-time prices, but it has to be
constantly refreshed
Hope that helps.
Thank you for simplifying the main advantages of Poly4, Myosotis. Alicia
RB: Hahahahaha...amazing! So we were right about you!