The critical question, which of course has yet to be answered , is what are the prospects for Sirrius. But, the fact the UK government has put in money via a job ceation scheme is a very good omen.

I've just sold the remainder of my holding @30p - good luck to those still in.

Here is the article from a couple of weeks back which I referred to above.



Potash development firm Sirius Minerals (LON:SXX) received a boost to its plans for North Yorkshire as it revealed it has been awarded up to 2.8 million from the UK government's regional growth fund.

The company is developing the York potash project there and the cash is for a geosciences centre to focus on the latest mineral exploration methods.

Over time, the project in Yorkshire is expected to generate around 1,000 direct jobs and up to a further 4,000 indirect jobs as part of the plan to provide the UK with a long-term secure supply of potash.

Sirius' managing director and chief executive Chris Fraser said that with global population growth placing pressure on natural resources, this research will become increasingly important.

"This centre will help Sirius to have access to the highly-skilled talent that will be necessary to plan, build and operate our mines of the future," he said.

Sirius said its immediate focus for the centre and grant funding was to help the company bring a lot of its global research and development activities to North Yorkshire.

It plans to build a "living laboratory" around the York Potash project, which will allow current and future geoscientists to develop new skills and receive training on cutting-edge, innovative technologies.

"The long-term vision for the centre is to establish the facility as an independent developer of advanced geoscience technologies and services for the global mining industry," the firm said.

The funding is subject to the satisfactory completion of due diligence and was announced yesterday.

Analyst at broker Northland Capital Partners Dr Ryan Long described the new centre as "positive news".

"Advanced research and development centres in Australia such as Commonwealth Scientific and Industrial Research Organisation (CSIRO), Centre for Excellence in Ore Deposits (CODES) and the Economic Geology Research Unit (EGRU) have worked in partnership with the mining industry forn decades with successful results," he said in a note.

Earlier this month, Sirius revealed the results of the first bore hole on the project in Yorkshire, where it has now successfully cored all three potash seams. All three confirmed what Sirius described as exceptional thicknesses.

According to Sirius this validated the world-class status of the York project. The company is currently carrying out a two rig drill programme on the project, which spans an area between Whitby and Scarborough in North Yorkshire.

skinny, can't believe you jumped ship!!! Anything in particular spook you, or just the 30p target which tempted you?

Harry - the latter - it (and me) have had a good run recently - no harm in taking profits - I hope to buy back a bit lower.

It seems 30 is a bit of a hurdle at the moment with the market down by 50 as well.

Quite a lot of short positions have been closed over the last 48 hours and also shaking out the weak holders! Gonna stick with it for now.

Harry - just to cheer you up Hargreaves Lansdown have their SXX trades this morning as 34.62% sales v 65.38% buys.

Cheers, skinny. Still holding, though mindful of the saying 'buy on rumour, sell on fact' so assay results will be the make or break period, imo. Either way, will probably be out when they hit the press.

while messing around with 'joke' companies like htt % it is always good to see how my good ones are doing - sxx in the latter catgory - there is so much going for sxx - high demand for products - even better in the uk and gov support - and positives from results to date and more expected - it maybe time soon to take a risk and sell to hopefully buy back lower - just cant make up my mind

skinny - well done on your bold step and taking profit - sp already reversed a little since your 30p so maybe you will get back in lower - gl

Buying opportunity, skinny?

Not now Kato :-)

At least SXX is bucking the trend. Should test 30p level again today.
Core sample test results next week hopefully!

With all the financial turmoil at the moment, the performance has been fantastic. Let's hope that I am not putting the kibosh on the stock!!

According to this weeks Investor 's Chronicle, The value of the Yorkshire potash field are worth 26 p per share on their own.

So 26 + 6.5p when SXX was a it's 12 month low = 32.5p.
Has firmly broken the 30p barrier now, but still ready to take some profit when the sample results come out.

Don't mention the IC ! KOD.

Why not ?

Here is the article.

Aim-traded miner Sirius Minerals has ambitions to become one of the world's major potash producers by the end of the decade - and it's not looking badly positioned. It boasts potash assets in both Australia and the US but the main focus of the company's activities is a potentially huge source of the mineral fertilizer near Whitby in North Yorkshire. It gained access to that site in January through the 25m acquisition of York Potash.

These figures, however, really only reflect the progress that the company has made towards establishing a definitive resource estimate for that Whitby prospect - which management already describes as "one of the world's single largest potash intersections". This view was given credence by highly promising coring and wire-line tests conducted last month. Sirius also has the benefit of a huge amount of seismic data previously collected at the site by Rio Tinto during the 1970s. Chief executive Chris Fraser reckons the group should be in a position to publish an informed resource estimate for the site during the first quarter of next year. Although, prior to October's resource update, Liberum Capital's mid-range valuation for the North Yorkshire prospect alone was 26p a share.

Chessplayer - only joshing , IC normally the KOD - kiss of death :-)

Shares Mag this week:
"Sirius Minerals (SXX:AIM) 23.8p Buy
The companys share price dipped mid year and then rebounded strongly after publication of exploration data on its potash project in Yorkshire. A scoping study is expected by the end of the year and a resource statement in the first quarter of 2012. Sirius has been provisionally awarded a Government grant of up to 2.8 million to develop a geo-science centre which will ultimately aim to create highly-skilled jobs in the global mining industry."