Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Please to say I have just voted against the deal with over 200000 shares.
I still believe there is a good chance here, there are lots of big players who would take a bath if this deal goes ahead including the Qatari’s, Norwegian’s and Gina Rineheart, SXX can get by with another $400m and get the shafts sunk, that's really not a lot of cash between those 3 players.
Anglo American has made a takeover bid for Sirius Minerals, the UK-listed miner struggling to build a giant potash mine on the North York Moors.
In a statement, Anglo said it was in advanced discussions with Sirius over a 5.5p a share offer that would value the company at almost £386m. Shares in Sirius closed at 4.1p on Tuesday and jumped 34.6 per cent to 5.4p after the news on Wednesday morning.
Anglo American identified Sirius’s potash project as being of potential interest some time ago, “given the quality of the underlying asset in terms of scale, resource life, operating cost profile and the nature and quality of its product”.
However, the move may surprise some investors who thought Anglo was focused on developing a new copper mine in Peru and returning cash to shareholders.
For Sirius, the offer is a potential lifeline. The company has been struggling to raise billions of dollars it needs to complete the project from sceptical investors and bankers.
In November, Sirius said it was seeking a strategic investor to help fund a revised two-stage development project.
Its project involves sinking two 1.5km shafts and moving material to a port on Teesside via a 37km tunnel. On top of that, Sirius is building the largest mine in the UK for a generation.
The mine will produce polyhalite, a type of fertiliser that contains four of the six macronutrients essential to plant growth.
The bid marks a historical return to polyhalite for Anglo. The miner was a joint owner of the nearby Boulby polyhalite mine for three decades until Israeli Chemicals took over the asset in 2002. The Boulby mine is the world’s only producing polyhalite mine.
Analysts at Berenberg noted: “We can see how the project fits in the Anglo portfolio of late cycle, green commodities, but given that this is a new commodity for Anglo, and given the market’s strong focus on shareholder returns, it is likely to take some investor education as to exact market dynamics and outlook.”
Potash is an attractive commodity to some big miners because it offers diversification. Fertiliser prices are generally not correlated with other commodities such as iron ore and copper. However, the type of potash Sirius plans to produce is commercially unproven.
“Anglo American believes that the possible offer could provide certainty to Sirius’ shareholders, whilst Anglo American brings the financial, technical and marketing resources and capabilities to progress the project over time,” Anglo said in its statement. “This should also be in the interests of Sirius’ broader stakeholders”
Anglo has until the 6th of Feb to make a formal offer or walk away for 6 months.
Lots of information in here for you all.
https://www.ft.com/content/03093aae-31e8-11ea-9703-eea0cae3f0de
PAF’s AISC is only $988 per OZ against a market price today of $1,579.00 making it Africa’s lowest cost gold producer.
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/904181
Does anyone know how PHE with its connections to Peel Ports will stand to gain from the UK’s 10 new Freeport’s?
https://www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/49198825
November’s US Presidential election could well bring a surge in financial risk. Indeed, money managers are already betting on a Wall Street sell-off and an accompanying jump in gold prices to $2,000 or even $3,000 an ounce.’ To put these figures into perspective, in dollar terms, gold finished 2019 at $1,523 an ounce.
This is going to be one hell of a great year for PAF, get in now while it is still undervalued.
Top central banks will sweep up bonds worth hundreds of billions of pounds to kick-start growth again in 2020 in their latest unprecedented intervention into financial markets.
The balance sheets of the four main central banks in the eurozone, US, Japan and UK are collectively expected to swell to more than £12 trillion by the end of 2020 after policymakers resorted to rebooting their quantitative easing (QE) programmes.
The Federal Reserve, Bank of Japan and European Central Bank are expected to buy almost £500bn of debt this year and nearing £1 trillion by the end of 2021 through the experimental and controversial policy tool, according to estimates by Nomura. Policy at the Bank of England, including QE, has been put on hold amid the high levels of uncertainty.
Quantitative easing – also known as money printing – aims to boost the economy by aiding bank lending, lowering long-term interest rates and pushing investors out of safer bonds into riskier assets.
This can only bode well for Sirius.
Good man Bellers, there's little more we can do than to try and apply political pressure, if all 85000 PI did i'm sure it would have an effect, that's a hell of a lot of votes when you factor in family members etc.
MP's I feel are worth emailing on this are as follows, everyone can copy and paste the below to expedite the process.
Imran.ahmadkhan.mp@parliament.uk
mark.spencer.mp@parliament.uk
kwasi.kwarteng.mp@parliament.uk
rishi.sunak.mp@parliament.uk
coxg@parliament.uk
james.cleverly.mp@parliament.uk
alister.jack.mp@parliament.uk
julian.smith.mp@parliament.uk
alun.cairns.mp@parliament.uk
shappsg@parliament.uk
alok.sharma.mp@parliament.uk
robert.buckland.mp@parliament.uk
robert.jenrick.mp@parliament.uk
gavin.williamson.mp@parliament.uk
matt.han****.mp@parliament.uk
wallaceb@parliament.uk
michael.gove.mp@parliament.uk
withammp@parliament.uk
dominic.raab.mp@parliament.uk
Iain.duncansmith.mp@parliament.uk
holly.mumbycroft.mp@parliament.uk
jacob.reesmogg.mp@parliament.uk
ben.bradley.mp@parliament.uk
boris.johnson.mp@parliament.uk
peter.gibson.mp@parliament.uk
dehenna.davison.mp@parliament.uk
paul.howell.mp@parliament.uk
jake.berry.mp@parliament.uk
robert.goodwill.mp@parliament.uk
jacob.young.mp@parliament.uk
matt.vickers.mp@parliament.uk
andrea.leadsom.mp@parliament.uk
theresa@theresavilliers.co.uk
elizabeth.truss.mp@parliament.uk
stephen.barclay.mp@parliament.uk
Best
Says a lot Bellers, Sadly my local MP is also Labour its a total bloody waste of time talking to them....
Potentially Chesh but lets hope for a more positive outcome lol.
I encourage everyone here to join the campaign with a view to raising awareness of the project.
Hi All,
Please see below for the first response from one of the new northern conservative MP's
Not much context wise but I think goodwill is in order for Dehenna for taking the time to respond and I look forward to her further feedback/engagement, I have responded to the same and provided further details on the project.
DAVISON, Dehenna (dehenna.davison.mp@parliament.uk)
To:you Details
Hi Gareth,
Firstly, thank you for your congratulations, that’s very kind of you.
Having had a look through this, it’s great to see the work that you are doing. With it being my first week, my schedule is quite manic right now however I will be making sure to go through all of this in more detail in due course once everything has settled.
I hope you have a lovely Christmas and a happy new year.
Kind Regards,
Dehenna Davison MP
There's so much benefit this company can bring to Yorkshire including £80m annual local royalty payments...…
We just need to get it over the line, time for the UK to get its Churchill spirit back.
I can now confirm the email has gone to all current ministers.
Thanks Svartisen,
I can confirm it has gone to all new MP's across the North and Yorkshire and all relevant ministers.
Who would have thought we may see a day where Conservative MP's may get a chance to help Yorkshire Miners... Its PR gold for them.
The email itself was formatted much better and included graphics.
Best
Couldn't get the whole email in but you get the point.
To email a new MP it is simply firstname.lastname.mp@parliament.uk eg - jacob.young.mp@parliament.uk
Hi All,
Please see below for an email just sent to all new northern MP's and revelent ministers.
Good Morning All,
Congratulations to those of you who are new to your seats, Thursday truly was a great day for the UK.
That being said its time to make it greater...
My question to you all is now that the Conservatives have a large majority and we will be out of the EU by 31/01/20 will you be requesting that the government re-looks at providing a loan guarantee to Sirius Minerals to ensure its Northern Potash mine becomes operational which in turn will create and maintain 1000's of high paying jobs for Yorkshire workers and billions of pounds in tax revenue? It really isn't often a project can create jobs and tax receipts on this level while producing a product that can massively increase crop yields/reduce deforestation across the world (Its an absolute PR gift, delivering long term prosperity for the north while helping to saving the planet with its product, its just what the new conservative party needs to help address the naysayers)
Take a look at the figures below and please do not allow the government to ignore this any longer - https://siriusminerals.com/ ;
As some of you may know time is ticking and this project could be lost for good come March 2020 should you not act, its something Labour are sure to seize upon should you let it fail.
Situated between the River Tees and Scarborough in North Yorkshire, UK, Sirius’ project covers an area of 750km2 onshore and offshore.
Sirius has secured all the required planning permissions and approvals along with the necessary mineral rights to develop its flagship North Yorkshire polyhalite project which, when constructed, will have the capacity to deliver up to 20 million tonnes per annum (Mtpa) of its multi-nutrient, low chloride fertilizer product POLY4.
Economic Impact
Sirius Minerals' polyhalite project in North Yorkshire and Teesside is a £3.2 billion capital investment that will generate £100 billion for the UK economy over the next fifty years. The Project will increase economic output, boost regional growth, increase exports, drive productivity and reduce the trade deficit, helping to address the UK’s ambitions and challenges as it leaves the European Union.
You can read more about our economic impact by reading the independent report published by economic consultants Quod, at the bottom of this page.
ECONOMIC GROWTH AND PRODUCTIVITY
£2.3 billion annual contribution to UK GDP
Productivity 50× the national average
Tax receipts of £470m per annum
JOB CREATION
1,000 long-term, high-skilled operational jobs
1,500 jobs in the supply chain
1,700 construction jobs at peak
LARGE SCALE EXPORTS
Reduce UK’s trade deficit by 7%
Trade deals in the Americas, Asia, Africa and Europe
Supply contracts worth £2 billion already secured
BOOST THE NORTHERN ECONOMY
Largest private sector investment in the North
Jobs with salaries double the regional average