Sirius Minerals Share Discussion Threads

[not my real name] 17/5/2017 22:04

From Sirius website.

"The New Agreement replaces the offtake contract announced on 27 June 2013 with Yunnan TCT Yong-Zhe Company Limited ("TCT") (the "TCT Agreement"), which TCT and Sirius have mutually agreed to cancel. The TCT Agreement was for a period of three years with a seven year extension option. The New Agreement is for a period ten years from first production, ramping up to one million tonnes per annum over the first six years of the contract."

Think the key phrase is "ramping up to one million tonnes per annum over the first six years."



Hope this clears everything up. There is no news, just a misunderstanding over a year old story.

NMRN

[dp1umb] 17/5/2017 21:44

My understanding is that the Chinese company we're going to uptake 1 million tons at start of production but now are only comiting to 1/7 of that! Or am I missing something?

[greg the grinch] 17/5/2017 21:30

I have not read the entire thread so apologies if already mentioned:

My understanding is that SXX can call in the convertible bonds if they get their hands on the cash e.g. from a big investor. So if the bond holders hold too long they run the risk of having their hand forced.

Anyway... I'm sitting and waitin..... will hold for years.....it does seem another big rise is imminent.

GLA

[not my real name] 17/5/2017 21:27

Am I missing something? This whole story revolves around a misunderstanding by someone over the phone which has now been clarified. There is no good news. There is no new news. The story is a year old.

Why all the excitement?

NMRN

[johnwise] 17/5/2017 20:49

The difference is Sirius will not be marketing Potash they will be selling a premium product Polyhalite. Sirius say with this modern mine they can produce for around £35 a ton, could market Polyhalite for less than potash price... Polyhalite will be the first choice for farmers world wide as unlike potash it contains 4 of the essential nutrients essential for healthy plant growth . Sirius has conducted world wide growing trials, results show Polyhalite outperforms potash. Why then would a farmer chose Potash. With Sirius low cost of production and Polyhalite is only found in minute quantity's elsewhere in the world when Sirius hits full production 20 million tons a year many potash mines will find less demand for their product and high cost production mines will fold

Polyhalite Explained


The York Potash Project Deposit


So far, Sirius have directed over 150 trials on 24 crops in 13 different countries, as illustrated in the map below."

[investment dave] 17/5/2017 19:52

Yes this could really move now

[mr.oz] 17/5/2017 19:31

Read the whole thing Dave

[investment dave] 17/5/2017 19:26

Yes this could really move nos

[dandu69] 17/5/2017 19:17

Dipped my toe in the water and bought 20000 today, looks like this could be something big but will take a few years by the looks of things.

[hazl] 17/5/2017 18:55

Not at all!
I'm glad you were as eXcited as we were!

[gilscottheron] 17/5/2017 18:37

Apologies.......I only posted it because someone couldn't open it!! Thought it was a later article! Saw the 4:38 and thought......pm! Wally.Back to hoping!

[stoaty1] 17/5/2017 18:33

hazl posted this article at 11.51 this morning, so may be in the porice. Further good news all the same.

[hazl] 17/5/2017 18:32

27278 POST

GILSCOTT

[gilscottheron] 17/5/2017 18:18

We'll see.....!!

[investment dave] 17/5/2017 18:15

Great news looks like a big day tomorrow

[gilscottheron] 17/5/2017 18:05

They left it a bit late in the day.......may have an affect on tomorrow's open??

[ccr1958] 17/5/2017 17:56

cant open it Daaaaave , try hxxp

[hazl] 17/5/2017 15:31

Ah interesting John!
Very useful link I imagine.

[johnwise] 17/5/2017 15:03

"Sirius Minerals Chairman Russell Scrimshaw an Adjunct Professor of Mining Economics at China Central South University in Changsha, China"

[johnwise] 17/5/2017 14:29

Northern Powerhouse investments showcased to Chinese investors

"Sirius Minerals, Polyhalite Project, Whitby, North Yorkshire: an opportunity to invest in the building of the first potash mine in the UK for over 40 years. Full production capacity will be 20 million tonnes per annum, directly creating over 1000 new jobs."

[mr.oz] 17/5/2017 13:31

FAKE NEWS OR NOT:

In the telephone interview, Wang had said DianHuang was also negotiating with a rival firm, ICL, also known as Israel Chemicals.

"It depends whose fertilizer is more beneficial for us," he said. "ICL is the biggest global producer of organic potassium fertilizer. They are also competing, they are also in touch with us. They have brought over some fertilizer for test use."

ICL, whose mine is on the same Yorkshire seam that Sirius plans to exploit, declined to comment on DianHuang's statement.

[tidy 2] 17/5/2017 13:25

Paying full ask now