Share Name Share Symbol Market Type Share ISIN Share Description
Sirius Minerals LSE:SXX London Ordinary Share GB00B0DG3H29 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50p -4.41% 32.50p 32.75p 33.00p 34.00p 32.50p 33.75p 13,656,345 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -7.5 -0.3 - 751.93

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Sirius Minerals (SXX) Discussions and Chat

Sirius Minerals (SXX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
30/09/2016 16:57:2433.04873,394288,602.39O
30/09/2016 16:53:4933.323,0441,014.40O
30/09/2016 16:53:0832.92161,63953,205.19O
30/09/2016 16:52:3332.7194,79731,007.00O
30/09/2016 16:52:2733.2612,9004,290.54O
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Sirius Minerals (SXX) Top Chat Posts

DateSubject
01/10/2016
09:20
Sirius Minerals Daily Update: Sirius Minerals is listed in the Mining sector of the London Stock Exchange with ticker SXX. The last closing price for Sirius Minerals was 34p.
Sirius Minerals has a 4 week average price of 37.14p and a 12 week average price of 33.39p.
The 1 year high share price is 51.75p while the 1 year low share price is currently 10.50p.
There are currently 2,313,619,115 shares in issue and the average daily traded volume is 34,715,514 shares. The market capitalisation of Sirius Minerals is £751,926,212.38.
27/9/2016
13:22
henryatkin: My biggest concern is that NPV per share is 50p while PBV is around 8p. The mining sector trades on an average of 1.2 Book Value. If the potash price falls another 50% PNPV falls to 25p so for institutional investors NPV may not be a stable enough measure of value whilst Book Value is a companies worth today. Between 1x & 2x Book Value now seems tops to me. Thats between 8p & 16p. If you look back at the chart that's close to where the two major longer term supports are. Strikes me the price is being worked down to a level where a substantial discount to the closing share price will be offered to new buyers. The insti's were never going to buy at anywhere near 50p. I reckon a share price of sub 20p with a discount to the new placing, probably between 8p & 16p. imho.
04/9/2016
09:31
henryatkin: Christopher.... No, a higher share price makes it more difficult. A major investors will calculate his own value so if he thinks the company is only worth £250m he will be put off by a share price that gives a market capitalisation of £1bn. There is no way he will pay 4x what he thinks the company is worth. He will work out what he thinks the production income will be and the cost of getting into production. On this size loan they won't take the companies figures but will want to do their own. After that they will determine a maximum value for the company. They will then divide that value bu the total number of shares they think will be in issue after the deal is done and thats the top share price they would accept. But they will want a built a factor of safety into the calculations to cover the large costs of doing their due diligence so will demand a discount to that share price. An issue for funding in our case is that pension funds and income funds make up the majority of institutional investors and they want returns immediately to pay their pensions & income investors. They are not interested in waiting five years, they need the income right now, so they won't be investing. To a lesser degree the same applies to banks. They don't want to wait five years before getting a ROE. Its only the smaller growth funds and higher risk taking hedge funds that will be funding us.* *edit - on stage 1.
04/9/2016
09:02
henryatkin: Divmad... A typical example of companies I own that you ask can compare with SXX for five year growth with less risk: AMS for example is one I hold. Its still only £483m Mcap which is half of SXX and its increase turnover every year without fail since 1995 and became profitable with no debt in 2006. Since then its share price has increased 2300%. I believe it has every chance of outperforming SXX over the next five years. Unlike SXX its not reliant on commodity prices which could realistically fall another 50% and it has a moat that allows it to to pass any inflation costs onto its customers. It has no debt or pension debt and has a very good chance of takeover @ a high premium to its share price. Add to that its held by almost every smaller company fund which makes it very defensive in difficult times. In 2008 its share price actually went up 40% while the bottom fell out of the market. In my opinion it is a far better risk adjusted investment than SXX over the next five years. I could go on with dozen other examples such as CWK, ABC or JD., but I don't think this is the place to do it.
30/8/2016
13:27
henryatkin: mttosh....I agree that all current articles are positive & we all know the great potential but none go into the down side risk but in my opinion 11 Percent is the only realist here to the down side risk of financing. The risk is real and its far from a nod & a wink. 1. The price of potash has fallen since it bubbled after a bad global grain harvest in 2007 which coincided with the top of the commodities bubble. The price is still falling and could easily fall another 50%. That would halve the NPV and does nothing to encourage financiers & it could double the current estimated total financing costs. This year is expected to produce record grain harvests in the US & Russia. Chart of 30 year potash price: hTTp://www.indexmundi.com/commodities/?commodity=potassium-chloride&months=360 2. There is currently a global glut of potash, the price is falling and existing mines are having cut production, cut margins or mothball mines. BHP Billiton are in trouble with their new Jansen mine. They can't find a partner to fund completion of the mine and are now planning to mothball. Bankers will know about this even if most private investors don't. it will be a massive red flag for finance. hTTp://www.mining.com/bhp-still-looking-partner-2-6-billion-jansen-potash-mine/ 3. With the potash market being in such a dire state investment banks have to upper hand. They can almost dictate terms to a minnow like SXX. We won't get a good deal in the current climate so don't expect one. We will probably pay dearly for finance because the financiers know exactly what the risks are far better than any of us. 4. Failure to secure finance could trash the share price right back to 7p imo. Edit. 5. There is the on going risk from GM crops. Its not out of the question that crops might be produced requiring far less fertiliser. The above is to highlight what the risks are for those who are not so informed. Investing is all about risk. I still hold because on balance I'm prepared to take on the risks. I'm contemplating we get the finance, build the mine and produce an income from it.
23/8/2016
12:44
herschel k: to be fair, without any construction and awaiting an equity raise and financing, a mkt cap above £1bn could appear toppy to many. however, the point here is that they already have offtake contracts in place as soon as production starts. therefore, the market is (IMO) rerating the shares because: 1. the major planning hurdles have been overcome 2. the financing looks like it's a racing certainty (terms not known yet though) 3. the capital requirements have been reduced significantly 4. the future returns on this look to be exceptional, as per company announcements: Net present value of US$15 billion (assuming ultimate production levels of 20 Mtpa), rising to US$27 billion upon commencement of production. An unlevered after tax internal rate of return of 28%. The ability to generate annual earnings before interest, tax, depreciation and amortisation (EBITDA) ranging between US$1 billion and US$3 billion through various volume and price outcomes. this share is, potentially, a once in a lifetime opportunity for investors if things go to plan, funding is secured, and the mine is built by SXX (and not by others, with SXX having been taken out). IMO, the above is why the share price continues to rerate so strongly. Articles such as this are also undoubtedly helping: http://www.thisismoney.co.uk/money/markets/article-3752935/SMALL-CAP-IDEAS-Great-asset-decent-management-underpins-Sirius-Minerals.html H
11/8/2016
09:50
swampydrill: Been thinking about if there is further shares issued as part of the financing deal, would this lead to consolidation in the share price, other places where i have seen this has mostly been in the oil sector and led to decreases in the share price Not saying this is always the case so would an investor want equity ?. Long term you would think they would like a slice of the pie.
10/8/2016
09:09
analcime: stoaty1.. thanks for the thumbs up.. I was led to believe that The role of the market makers is to ensure that there is a ‘market’ for the shares floated on the exchange, i.e. that a sell price and buy price is quoted within market hours, in a minimum number of shares. As such, market makers are an essential element of the day-to-day workings. Market makers have to provide liquidity in a certain number of shares. If there is sustained buying from investors, then they have to continue to ‘sell’ and could potentially end up disposing of more shares than they currently hold, putting them in a ‘short’ position. To avoid this, and to reflect the fact that many investors will start ‘cashing’; in when share prices go up, we get the fluctuation on the intraday price I'm pretty certain thet there is only a small percentage of the company’s shares actually available in ‘free float’ in the market. Therefore, any medium size investment or sustained trading in one direction may result a massive movement in the share price as there may be a lack of supply – or, indeed, oversupply. The order book is there for the MM's to balance a sell and buy thats why they move the price accordingly. The MM's will go to auction to stop trading for a short while if they are caught with their pants down. And also note the MM"s KNOW AND CAN SEE all stop losses. IMHO DYOR
24/7/2016
07:57
lenses: Spirito I case you miss it. Following on:- The price they pay will reflect that the project is then already de facto Shovel Ready. Edit: you can already see what SR will imply for the de risking of this scheme towards the present project value, from the recent and continuing share price action. Each penny rise now will contribute to the issue buyers having to pay a higher share price on the placing day, so reducing dilution, so then encouraging more to buy this now. Positive feedback. L.
16/3/2016
05:58
h2owater: [...] Massive day for Sirius Minerals looms By Harriet Mann | Tue, 15th March 2016 - 17:32 Massive day for Sirius Minerals looms It's not often that an eleven-lined statement triggers a 17% share price rally. But then again Sirius Minerals (SXX) has never been an average investment. After delaying its definitive feasibility study (DFS) for its North Yorkshire potash mine, management finally have a release date. Put this Thursday in your diary. Initially due smack-bang in the middle of January's stockmarket volatility, Sirius's share price crashed by a quarter to a 10-month low after the company confirmed the hold-up. Investors couldn't wait to swipe their cash off the table, fearing the delay hinted at problems behind the scenes. But, as managing director and chief executive Chris Fraser rightly points out, with a mine life of 100 years, a short delay is a small price to pay for a necessarily detailed and robust review. After years of preparation, Sirius finally got the regulatory go-ahead to develop the North York Moors mine to produce the potash fertiliser. Sirius will look to secure financing to take the project to production once the DFS is in. Most reckon the group will need around £2.3 billion in total - £1.86 billon for phase one and £404 million for phase two. Sitting on the world's largest and highest-grade polyhalite deposit, management hope they can churn out 6.5 million tonnes of the fertiliser each year in phase one, with plans to increase capacity to 10 million tonnes, then double it to 20 million tonnes per annum. graph 1 "The DFS announcement will allow us to clearly outline the company's strategy and value proposition throughout multiple scenarios and cycles," said Fraser Tueasday. "I look forward to detailing the world class and robust nature of our polyhalite project in North Yorkshire." Behind the scenes of this important DFS work, Sirius has continued to showcase the efficacy of the polyhalite product, with the latest crop trials demonstrating improved yield, biomass and bacterial spot reduction from the POLY4 product. Last month, with the share price at 12.75p, WH Ireland analyst Paul Smith said he still reckoned they were worth 50p, which represents over 130% upside from current levels: "We valued Sirius using a risked DCF of our estimates for the project over a 50-year mine life - our assumptions are, of course, subject to change once the DFS is published, but despite this the current market price presents an opportunity." The shares have since surged 65% to an eight-month high of 21p, blasting back above the 200-day moving average and technical resistance at 20p. Nervous investors will have to wait until Thursday for additional news, anything more is pure speculation. Unforgiving investors will hope Smith is right.
28/7/2015
16:44
troc1958: This share price movement indicates that the assumed "rights issue" price (and equity issue to IIs) will be around range of 18p (or lower). Share price will be "range bound" until SXX state their "equity issue" price. If its going to be a "rights issue" then there is a fine balance between issue price and the price the market perceives as "fair value". Generally you find the share price settles about 10-20% above the rights price just prior to announcement (to ensure a good take-up). I cannot understand why the current share price is sitting around 16.5p, unless the rights issue price is 15p or less; which would be very surprising considering the upward potential of this company (i.e. lower the price the more dilution to raise the required funds). I and I am sure all current shareholders would be very aggrieved if the equity issue is NOT a "rights issue", but instead an issue to Institutions / selected shareholders only at a price well below current price .... comments?
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