Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"6 prospecting licences in a block located 5km from the Tobermalug & Caherconlish zinc discoveries at Pallas Green, where Glencore have established a 44 Mt 7% Zn 1% Pb JORC-compliant resource (2016)" A tweet posted at 2.03AM on the 15th of June. Odd time. The linked update on their website is not dated but seems to be a rehash the April update if the maiden inferred resource estimate. All a bit odd.
@Fred - it wasn't a significant holding certainly not compared to some here. I think I cna get back in over the next 2/3 months and the price (IMHO) probably won't be higher than about 40p which is still a very attractive entry level. If I put the sirris money to work elsewhere I can make more than what I think it might go up by in the interim. No guarantees of course and if there is spectacular good news and it hit's 90p or a pound then so be it and well done to everyone for being more patient than me.
I'm not saying it won't but it could be a couple of months and I'm making money elsewhere while here for the time being it's very flat and that won't change either way by the looks of things until there is significant news about thr TorP's and the guarantee. All other activity is factored in I feel.
I sold my holding. Nothing happening in the short term and I've been making money elsewhere since. I will be back though as this is going to appreciate in value as it nears and begins production whether it's plan A B C D or X.
I think analysing the 'wills' and 'woulds' is waste of time. The project is underway. Huge work is already underway. You're looking for reaffirmation where you don't need any.
Patrick Cullen inspecting samples from Mine River. I hope there is gold in them there boxes. https://twitter.com/connemaramining?lang=en
It's still tiny volume. A mass sell of would be 10's of millions of shares not 2.5m which in money terms is a million quid. Until there is some significant news the share price will drift along, most likely around 34p but it might dip to 32, I'd be very surprised if it went lower and I'd be interested in buying a few if it did get aorund there in the next few weeks with the liklihood of positive TorP's and a guarantee being announced over the summer.
The buys far outweigh the sells but the total volume is 2.5,m shares. Not even a million quids worth of shares. It's a pittance.
@Fred - A share split in a developing company like Sirius would greatly increase the amount of shares in circulation and make the price per share more attractive to new investors which is exactly what they would be looking to do, not a reverse share split that would achieve the opposite.
I'd be pleasantly surprised if tomorrow was anything other than the reiteration of recent news.
I'd have thought a share split would be more likely in a growing company. (no pun intended)
https://www.irishexaminer.com/breakingnews/world/most-vitamin-and-mineral-supplements-are-useless-new-study-suggests-845979.html Interesting findings - could it be supposed then that artificial foods which would have added vitimins and minerals wouldn't be as effective as naturally produced foods as sources of nutrition?
Now OR you've been around long enough to know that independent reports commissioned by a company might be subject to some 'instructions' as to how they are orientated. Most if not all press reporting about the project are also focussed on the economic benefits rather than the particular properties and uses of the product. Most of the media coverage will be instigated buy Sirius inviting papers to cover the story. I've worked in a few companies and when it came to the press most it was little more than sponsored content. It's all part of the companies marketing plan of course and getting the public's attention and support will all help getting government guarantees.
There is major emphasis from the company about the economic benefits for the area and the UK which I suppose to put pressure on the government to get on board and sign the guarantee. There is comparatively little about the product itself which seems to be a given. I've said before that for the share price to 'take off' it really needs the government backing. No reason to think they couldn't develop the project without them but it will be a major reassurance to other lenders.
Gareth Edmunds, external affairs director of Sirius, argues that the project is also at an advantage because it is a fertiliser mine. This, he says, �is an agricultural community and people understand what potash is and why we need more of it�. Indeed, another large former ICI mine has been producing potash since 1969 at nearby Boulby. Employing about a thousand people, it is far more visible than the Sirius project will be once built, a fact that has helped to win over local support. Mr Clarke, meanwhile, is in no doubt of its long-term prospects. �I can retire in a few years� time and be proud,� he says. �The mine�s going to be here for at least 100 years.�
If part of the business is focused far overseas, much of it is squarely on the doorstep. Once operational in 2021, the mine will support 1,000 direct and 1,500 indirect jobs and Mr Clarke, an industry veteran, is quick to emphasise that �we have a mining heritage in the UK and most important, it�s an opportunity to create jobs for decades�. The project has been welcomed widely on Teesside, in particular, because it will help to revive a heavily industrial area where one of the top local employers, the Redcar steelworks, collapsed into bankruptcy in 2015. Sirius is in talks to purchase some of the former British Steel site to give it better access to the riverfront. Loading equipment once used to unload metallurgical coal for steelmaking at Redcar could be repurposed to load polyhalite on to cargo ships for export. Chris Fraser, chief executive of Sirius and the driving force behind the scheme, claims that it will tap the biggest and best-quality polyhalite deposit found anywhere in the world. Moreover, with production costs of $30 to $40 per tonne and long-term supply contracts already signed at $145 per tonne, Sirius believes that it will be highly profitable. That potential has helped Sirius, now a FTSE 250 company, to raise �1.2 billion to pay for the construction of the two 1,500m shafts at the mine site, including �245 million from Gina Rinehart, the mining magnate who is Australia�s richest woman. The company needs a further �2 billion from banks this year and is seeking government debt guarantees to fund the next stage on construction. Once completed in 2021, the mine will be the deepest in Britain and by 2024 Sirius hopes to be producing ten million tonnes of polyhalite a year, rising to 20 million tonnes by 2026. The company claims that the deposit is big enough to last at least a century and expects robust demand, especially from the Far East. Opponents of the scheme may have lost the planning fight in 2015, when permission finally was granted for the Woodsmith mine, but they remain critical. According to Tom Chadwick, chairman of the North York Moors Association: �Building a mine of this scale in the North York Moors is simply at odds with the whole purpose of national parks. National parks should have the highest levels of landscape protection, and developments in these protected areas must have regard for their conservation and recreational purposes.� So the battle for hearts and minds goes on. In the early days, Sirius executives based themselves at a local farmhouse and went from village to village speaking to people in pubs to persuade them of the scheme�s benefits. Now, as well as providing much-needed jobs and payments for local landowners, Sirius has pledged to plough 0.5 per cent of revenues into a foundation to invest in local community projects. It estimates that this could be worth �14 million per year.
Sirius Minerals builds a business on fertile ground The FTSE 250 company says riches lie buried beneath the North York Moors Some said that it couldn�t be done, others argued long and loud that it shouldn�t, but as spring turns to summer over the North York Moors National Park, Graham Clarke is undaunted. �If you�re told you can�t do something, you have to prove people wrong, don�t you? Obviously, we still have challenges, but as you can see it�s really happening.� �It� is the construction of the biggest mine in Britain for 40 years, the last deep mine since Selby�s coal pit in the 1970s and the biggest private sector investment in the north of England. And all this in an area of outstanding natural beauty, �a special place, forged by nature�, according to the park�s own website. �It�, therefore, is not only one of the most important industrial projects in the region in decades, but one of the most sensitive. Mr Clarke, operations director of Sirius Minerals, finds himself on the front line of a battle that though long since won is still, in its own way, being fought. On one level, the �2.2 billion scheme, in which polyhalite � a form of organic fertiliser similar to potash � will be mined from a thick slab of rock deep underground and stretching out beneath the North Sea, sounds if not simple then at least familiar. On another, the need to minimise the environmental impact adds hugely to the project�s complexity. It means, for example, burying virtually all equipment below ground, including the headframes, the characteristic structures that stand above traditional mine shafts, to help to ensure that the site, perched on a hilltop and surrounded by trees and mounds of earth, will be virtually invisible except from a helicopter. It means, too, that next month work will start on a billion-dollar, 37km-long, 6m-wide tunnel stretching away from the mine site near Whitby to transfer the polyhalite, rich in potassium, sulphur, calcium and magnesium, out of sight via an underground conveyor belt to a giant industrial park on Teesside, where it will be processed into pellets and stored before export by ship. Polyhalite�s principal use is as a crop fertiliser and the biggest potential customers are overseas in North America, China and east Asia, where growing populations and rising incomes are driving steady increases in food consumption.
Sirius Minerals builds a business on fertile ground The FTSE 250 company says riches lie buried beneath the North York Moors Some said that it couldn�t be done, others argued long and loud that it shouldn�t, but as spring turns to summer over the North York Moors National Park, Graham Clarke is undaunted. �If you�re told you can�t do something, you have to prove people wrong, don�t you? Obviously, we still have challenges, but as you can see it�s really happening.� �It� is the construction of the biggest mine in Britain for 40 years, the last deep mine since Selby�s coal pit in the 1970s and the biggest private sector investment in the north of England. And all this in an area of outstanding natural beauty, �a special place, forged by nature�, according to the park�s own website. �It�, therefore, is not only one of the most important industrial projects in the region in decades, but one of the most sensitive. Mr Clarke, operations director of Sirius Minerals, finds himself on the front line of a battle that though long since won is still, in its own way, being fought. On one level, the �2.2 billion scheme, in which polyhalite � a form of organic fertiliser similar to potash � will be mined from a thick slab of rock deep underground and stretching out beneath the North Sea, sounds if not simple then at least familiar. On another, the need to minimise the environmental impact adds hugely to the project�s complexity. It means, for example, burying virtually all equipment below ground, including the headframes, the characteristic structures that stand above traditional mine shafts, to help to ensure that the site, perched on a hilltop and surrounded by trees and mounds of earth, will be virtually invisible except from a helicopter. It means, too, that next month work will start on a billion-dollar, 37km-long, 6m-wide tunnel stretching away from the mine site near Whitby to transfer the polyhalite, rich in potassium, sulphur, calcium and magnesium, out of sight via an underground conveyor belt to a giant industrial park on Teesside, where it will be processed into pellets and stored before export by ship. Polyhalite�s principal use is as a crop fertiliser and the biggest potential customers are overseas in North America, China and east Asia, where growing populations and rising incomes are driving steady increases in food consumption. If part of the business is focused far overseas, much of it is squarely on the doorstep. Once operational in 2021, the mine will support 1,000 direct and 1,500 indirect jobs and Mr Clarke, an industry veteran, is quick to emphasise that �we have a mining heritage in the UK and most important, it�s an opportunity to create jobs for decades�. The project has been welcomed widely on Teesside, in particular, because it will help to revive a heavily ind
Well Jack, did you get the call yet?
It'll close somewhere above 34p and most likely stay there or there abouts until the AGM. I wouldn't expect much movement due to the AGM either as they generally aren't events for significant revelations although in general I think it'll continue to creep up a percent or two here and there until more significant news.