Explanation9 Apr 2019 12:19
Sirius Minerals PLC (LON:SXX) shares surged on Tuesday as one of the world’s largest investment groups offloaded another slug of shares worth more than £20mln.
Shore Capital’s mining analyst Yuen Low has speculated that one of the reasons for the sudden jump in the company’s share price today could be because Capital has possibly stopped further selling.
Low added another potential explanation: momentum, especially with Sirius due to complete a major US$3.5bn financing by the end of the month.
Low added another potential explanation: momentum, especially with Sirius due to complete a major US$3.5bn financing by the end of the month.
“I would say it is also a possibility [that investors are getting in ahead of that financing].