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Yeup - just noticed this as well
https://www.mining.com/bhp-says-social-value-to-be-key-aspect-of-its-business-planning/
which ties in with SXX.
Yeup :-)
Just thought I'd back him as he seems to be getting it in the neck from all angles currently.
amazing what you can find on Wikipedia.
He has a bachelor's degree in Commerce from the University of Western Australia.[3]
Fraser worked in banking, particularly mining finance, with Rothschild, KPMG and Citigroup, rising to managing director in 2008.[4] He has been the CEO of Sirius Minerals since January 2011.[3]
& a repost link.
https://www.mining.com/bhp-to-decide-fate-of-jansen-potash-mine-in-early-2021/
Don't forget its a strategic review that's currently underway, regardless of being down currently I'm still holding as this will come good in the end, wealth funds currently invested stand to loose a fortune if this goes under, for any newbies don't forget CF has done this before with fortescue metals, I think he will do it again with this, given the current financial climate he had no other choice other than whats happening.
Just to annoy the trolls I'll now post this.
https://www.mining.com/bhp-says-jansen-potash-mine-remains-attractive-option/
strategic partnership anyone.
I'm still holding and intend to top up again at sub 2p in the short term.
Don't sell out now, hold and enjoy the ride.
au contraire
Jansen will cost BHP .... This week, the Melbourne, Australia-based company said its board will consider whether to spend between US$5.3 and US$5.7 billion to bring the mine into production before February 2021 — just over a year away.
for an inferior product.
A strategic partnership will cost half that, and be up and running in 3 years.
https://thestarphoenix.com/news/local-news/bhp-eyes-jansen-potash-mine-decision-by-early-2021
Usually I've no time for them but this is from 3 years ago.
https://www.fool.co.uk/investing/2016/09/28/could-sirius-minerals-plc-be-a-bid-target-for-bhp-billiton-plc/
Also couple of more things. (BHP & other related)
1) Pound is crap exchange rate wise at the moment, so makes it cheaper to build in the near term.
2) BHP is headquartered in Melboune. CF is aussie (via UK, lived in Sydney) you cant tell me he doesn't have any contacts there already.
3) BHP need something ....
https://investingnews.com/daily/resource-investing/agriculture-investing/potash-investing/bhp-consider-future-jansen-potash-project/
4) we're talking about polyhalite, a better product, which is harder to obtain as there are not so many sources, and non of the scale we currently have (or could have),t.
5) Its half the price costwise to get this up and running
6) BHP is not the only big player with big pockets.
7) CF wont stiff the shareholders in the longterm, short term hits maybe to get this thing back on the road but longterm, staff incentives, his holdings, staff holdings (many of which they will have bought), dont annoy the locals etc, all lead me to believe it will come off and in the long term (4 years) be good for the shareholders.
8) I'm feeling lucky :-)
& a reduced overall cost .... :-)
Also you wouldn't have to deal with the weather in Canada ...
I'm not ramping by the way I'm a long term holder, if I was ramping I would say that there could be a bidding war between two majors .. there is only one asset like this on the planet.
OK back in my box, back when its all sorted...... one way ......or the other.
GLA ...etc etc.
bit more up to date news.
https://www.mining.com/bhp-to-decide-fate-of-jansen-potash-mine-in-early-2021/
you pays your money ... you takes your choice, maybe it will happen, maybe it will go bust ...
Other mining majors are available :-)
I'm holding.
Pick a strategic partner ... any strategic partner.
https://www.mining.com/bhps-potash-price-outlook-dims-jansen-hopes/
If only they could find somewhere else to invest in and save some money ....
KOH
& ..... those holdings really represent a tiny fraction of their overall portfolio
Yes agree, that's why they can chip in more, along with a strategic partner ... hang on for the ride ...
KOH.
16.5p currently so yes I'm down ..... a lot on paper. Its only a loss when you sell
But the asset is still there, tell me where else in the world could a major (BHP billiton, RIO, Glencore, etc) get a mine up and running in a friendly country (regardless of brexit) with a 50 year + guaranteed offtake of 10 million tonnes + of product, giving an annual $1 billion profit (ok so figures are off the top of my head) but you get the picture.
Also CF has done this before, this is the second time around, and for what its worth I think he has made the right call to reduce the spend while this gets sorted.
Like I say hanging on for a couple of years time, that's when I'll really be interested in the share price
Don't forget, Norway and Quatar wealth funds are in this along with Jupiter Asset management, all hoding shares at a cost of hundreds of millions, if it goes to the wall they loose their money, if they do some sort of joint venture, then they don't . This is what going to save the share price, yes its gone down recently (I intend to average down @ 1p/2p) but long term (4 years) is where I'm looking.....
Last time I looked at that they still needed a mining licence - do they have one yet ?
Not seen this anywhere yet.
https://uk.finance.yahoo.com/news/why-believe-sirius-minerals-woodsmith-111208821.html
Nice one Vinnie.
I'm the same as you, long term holder, I'm currently down a few bob but in the long term it will come back, Instead of panicing and selling just average down, and bide your time. :-)
I listened in on the teleconference and CF stated that on one day they did 30M tunnelling, so take 5M off that and call it an "average", drop the three tunnelling machines to two, and if anyone clever is out there do a bit of maths, tunnel length is 34KM I believe not sure how far in they are currently. Any ideas on when the tunnels would complete @ 25M per day... ? (Ignore the bit about the money running out midway ) :-)