Member Info for stokey12

It has to be remembered that the company has never said when the quarterly updates will be given. Unlike last year when we had a RNS that bstated when the updates will be given no such RNS was issued this year. We have been going by what happened last year.

Chesh - I thought you were the share price support officer?

Myosotis - The Bank modelling is done on a sale price of $125 yet the sale price that has been given as in the TorP agreements is $145. This gives a 14% diffeence between the two would this gap be used to make up the Loan to Asset Value?

Has anyone seen an updated projection of what the construction costs are. we have changes made to the construction methodology which may have affected the costs. If the costs have gone down which is a possibility if the date of first polyhalite has been bought forward what affect has that had on the costs. Hopefully this might be covered in the next update.

ChrisF - I think they would look at the initial orders until the ramp up. They would see that at first production will be lower as the mine would still be under construction at first production.

Myosotis - Do not give up the day job.

A good set of results hopefully they can build on them going forward

An interesting and unusual analysis here http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/exchange-insight/news-analysis.html?fourWayKey=GB00B0DG3H29GBGBXSTMM&page=1 I am not sure if any pattern can be found that holds.

Doing a google search came across this https://www.yorkshirecoastradio.com/news/local-news/2618176/sirius-minerals-foundation-supports-whitby-competition/. I note they did not say how much the prize money was. Does anyone who lives locally know?

cynthieess - for simpletons like me what does that mean in plain english?

AlanG - I agree with you I suspect that the Chief Secretary of the Teasury is likely to take the relevant minister into a dark room and hit him over the head with a 2 x 4 if he does not get his finger out soon. i do not mean that litterally of course. Apart from the corpoeration tax bill and export duty from sirius there is also the Income Tax and NI for Sirius. In relation to the supply chain there is the corporation tax and VAT so the total annual tax bill for all types of central tax can easily end up around 0.5bn so HMG will do anything to get the mine into production.

SuperL - I think and I will no doubt bee correctted if wrong that the guarantee is needed because the total value of the assets available are less than the amount of the loan. Therefore the lenders are looking for an additional security before lending more.

If you tune into the live stream from the House of lOrds at about 2.40 you will be able to see the official announcement. The effect of this is that barring the repeal of the legislation the UK will leave the EU at 11pm on the 29 March 2019 deal or no deal

I put the suggestion to the company and this is the response I got

Thank you for your email and interest in Sirius Minerals.



We will consider your suggestion for future meetings.



Kind regards



Georgina



Georgina Warters

EA to Thomas Staley

Finance Director

Oceanfox - While there is a large measure of truth in what you say you will have to remember that politicians will always act in their own self interest. They will get a fee and if the mine is built they will get around £400m in corporation tax plus export duty and Tax and NI from the employees in annual income. What is more they will not have to provide any actual money. In addition they would be doing this in a target area come the next general election.

Sorry but that has to get a C+

I am not seeing the price either. I checked the Stock Exchange site and it has a price of 32.70

Myosotis - Thanks for this. I found of equal note what was said about using the learning from Sirius on how to do a similar project. It would be interesting to see how this translates in relation to the Boulby application.

Here are the relevant parts of the article the rest does not relate to Sirius

Sirius Minerals, the company digging for fertiliser under the North York Moors national park, tapped positive investor sentiment amid expectations of an imminent update on its efforts to secure £2.1 billion of debt to complete the project.

The potash miner is expected to receive commitment letters from lenders this month before the agreements are finalised in the fourth quarter. The FTSE 250, which first became aware of the polyhalite rock deposit in 2010, claims the fertiliser, which contains four of the six key nutrients for plant growth, will cut costs for farmers and reduce emissions.

It has total committed sales volumes of 4.7 million tonnes per year, against a target of 6 million to 7 million tonnes, following its latest deal, announced last week, with ITL Trading, one of the largest suppliers of fertiliser to Nigeria.

The funding commitments are expected to help the company put pressure on the Treasury to underwrite a portion of the fundraising, in return for a fee, which Russell Scrimshaw, chairman of Sirius, has called “essential”. Sirius Minerals rose ¾p and closed at 32¼p.

The rise was an anomaly on a downbeat day for miners, as the sector was hit by weekend revelations that China, the world’s top metals consumer, would not be spending its newly-released liquidity on the sector. People’s Bank of China announced plans to cut the amount of cash banks must hold as reserves by 50 basis points, releasing $108 billion in liquidity, but this will be used to speed up debt-for-equity swaps and encourage lending to smaller firms.

I saw this article today https://www.lexology.com/library/detail.aspx?g=cb95454d-2a48-4488-98b7-a9461c44c77a&utm_source=lexology+daily+newsfeed&utm_medium=html+email&utm_campaign=lexology+subscriber+daily+feed&utm_content=lexology+daily+newsfeed+2018-06-26&utm_term= As the AGM is in York which is not always easy for people to get too would having a virtual or a hybrid AGM be an idea worth putting to the Board. It will probably need a change in the Articles.