Sirius Minerals Share Discussion Threads

[grahamburn] 26/6/2018 10:15

The Times Market report leads with Sirius today:

Sirius is market’s star on downbeat day for miners
Louisa Clarence-Smith


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 “essentialR21;. Sirius Minerals rose ¾p and closed at 32¼p.

[grahamburn] 26/6/2018 10:14

The Times Market report leads with Sirius today:

Sirius is market’s star on downbeat day for miners
Louisa Clarence-Smith


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 “essentialR21;. Sirius Minerals rose ¾p and closed at 32¼p.

[muckshifter] 26/6/2018 10:14

Didn't really follow progress on Crossrail, funtimejonny, but I would expect it to be a fraction of the rate (say a quarter) that I've guessed for the Sirius tunnel, because of the huge logistics problems involved in getting tunnelling equipment in, and muck out, of heavily congested London, amongst many other constraints. So, not relevant imho.

[coolhandfluke] 26/6/2018 10:02

Morning muckshifter Exciting times with so much activity covering all areas of this enormous project. Time passes really quickly for me so it won't be long from my prospective before this mine is down and running.

[funtimejonny] 26/6/2018 09:53

Have you any idea what rates were achived on crossrail? Would make a good comparison

[muckshifter] 26/6/2018 09:37

Morning coolhandfluke!
Before they actually bring in the TBM (which will come in pieces for assembly at site), they have to construct a portal - a sort of entrance short tunnel to start the TBM into - at least 2, maybe up to 4 months. Then they bring the TBM bits and assemble it before firing it up - this might take 3 or 4 months.

My expectation in terms of the tunnelling period assumes a very good average rate of progress over the 12.7km (iirc), although the first kilometer or two will probably be slow because it is through the most difficult material.

[coolhandfluke] 26/6/2018 08:34

Hi muckshifterThat seams a long way off? I thought these machines went vertical and horizontal like pac-man gobbling up all in front of them. If they are only using shovels then this will be a long job.

[muckshifter] 26/6/2018 08:04

coolhandfluke,
I would expect the TBM to start work April / May 2019 and reach Lockwood Beck about September / October 2020.

[johnwise] 26/6/2018 07:53

Praise For Positive Impact Of Potash Mine Near Whitby

A controversial scheme to build the world’s largest potash mine on national park land near Whitby is giving back to the communities surrounding it, it was claimed today.

Members of the North York Moors National Park’s executive committee heard how hundreds of thousands of pounds was being invested into projects by Sirius Minerals, the mine’s operator.
More

[johnwise] 26/6/2018 07:48

On Friday, work started on the 23-mile long tunnel, which will transport the fertiliser between the Whitby mine and the handling facility in Redcar.

[funtimejonny] 25/6/2018 18:44

They are called TBM's.They are good..but not that good!

[coolhandfluke] 25/6/2018 18:12

Are they using those giant rotating tunnelling machines yet? If so they will be coming out the other end in a few weeks.

[mr.oz] 25/6/2018 10:47

Was in the Mail again....

[thanksamillion] 25/6/2018 10:38

Quarterly report due this week, methinks further suppy agreements will arrive as required by management. ie Aug/Sept. ie. In the bag but too soon at the moment.

[spirito] 25/6/2018 10:22

Giddy up sirihorse

[johnwise] 25/6/2018 08:46

EdgeFund,

That was a rubbish De-Ramp, remember what your school report said "You must try harder"

[edgefund] 25/6/2018 08:37

Anything the daily mail punts should be well avoided.Just look at BHR for example ..DYOR

[rrr] 24/6/2018 08:16

Thanks Miranda, should help the share price tomorrow.

[johnwise] 24/6/2018 03:39

Major works begin today on the first part of a 23 mile long tunnel to transport fertilizer underground between North Yorkshire and Teesside, ready for export around the world.


More

[asiriusinvestor] 23/6/2018 19:39

Obviously we are all here because this is a great investment prospect but i was wondering what other companies are you guys invested in?

[johnwise] 22/6/2018 12:18

'Exciting times' for Sirius Minerals as it advances Yorkshire mine, says ShoreCap

11:07 22 Jun 2018

Ground breaking for the Mineral Transport System portal at the Materials Handling Facility in Wilton has started today, according to Shore Capital