18 Feb 2013 10:25
18 February 2013
Sirius Minerals Plc
Update on current cash position
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company"), the globally diversified potash development group, would like to correct current misinformation about the Company's financing plans for the York Potash Project.
As at 31 January 2013, the Company had a cash balance of GBP24 million and no immediate plans for a placement of shares.
The development of the world-class York Potash Project will require multiple financings and these will be carried out when required, when opportunities present themselves and always with the best value to shareholders in mind.
The Company is making excellent progress towards its goals and continually reviews multiple options on how best to finance the rapid development of the York Potash Project.
For further information, please contact:
Sirius Minerals Plc | |||
Peter McLennan(General Manager - Investor Relations)
| Tel: +44 8455 240 247
| Email: info@siriusminerals.com | |
NOMAD/ Joint Broker | Joint Brokers | Joint Brokers | Media Enquiries |
Macquarie Capital (Europe) Limited | Liberum Capital Limited | Jefferies Hoare Govett | Pelham Bell Pottinger |
Steve Baldwin, Raj Khatri | Michael Rawlinson, Clayton Bush | Peter Bacchus, Thomas Rider | Charles Vivian, Lorna Spears |
Tel: +44 20 3037 2000 | Tel: +44 20 3100 2222 | Tel: +44 20 7029 8000 | Tel: +44 20 7861 3232 |
About Sirius Minerals Plc
Sirius Minerals is a globally diversified potash development company. Its primary focus is to bring on stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits. Today it holds properties in the United Kingdom (North Yorkshire), the United States (North Dakota), and Australia (Queensland). 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.