16 Sep 2014 11:55
16 September 2014
Sirius Minerals Plc
Project schedule clarification
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or "the Company") are pleased to provide clarification on the project schedule for the York Potash Project ("the Project") following a number of queries.
The Company has recently launched its statutory pre-application consultation period for the harbour element of its Project and further information and technical information can be found at: http://yorkpotash.co.uk/consultation/current-consultation.
Contained within these documents are descriptions of timelines for construction activities for the purposes of the approvals process. These timelines cover the periods where any form of construction activity remains active at each part of the Project.
The project schedule has always anticipated an overlap from first production to the complete installation and steady-state production from the full initial installed capacity. This initial ramp-up from first ore to full installed production is anticipated to occur during the periods described in the approvals documents.
As a result, the Company confirms that subject to the receipt of the necessary approvals for the mine, mineral transport system and materials handling facility in January 2015 and securing the necessary finance, construction is expected to commence in Q1 2015. Based on that construction start date, the construction schedule shows that first production would commence in mid-2018, followed by a period of overlapping construction activities and production ramp up.
For further information, please contact:
Sirius Minerals Plc Investor Relations
|
Email: ir@siriusminerals.com |
Tel: +44 8455 240 247 |
Joint Brokers Liberum Capital Limited |
Clayton Bush, Tim Graham |
Tel: +44 20 3100 2222 |
Macquarie Capital (Europe) Limited (NOMAD) | Steve Baldwin, Raj Khatri | Tel: +44 20 3037 2000 |
WH Ireland
| Adrian Hadden | Tel: +44 20 7220 1666 |
Media Enquiries
| Mark Antelme, Lorna Cobbett | Tel: +44 20 3772 2500 |
Warrant Trading Enquiries Liberum Capital Limited |
Simon Smith |
Tel: +44 20 3100 2171 |
About Sirius Minerals Plc
Sirius Minerals is a potash development company with properties in the United Kingdom (North Yorkshire) and the United States (North Dakota). Its primary focus is the development of the York Potash Project which has the world's largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium. Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market. Its shares are also traded in the United States on the OTCQX through a sponsored ADR facility. Further information on the Company can be found at www.siriusminerals.com.