The wording is important, imo. It leaves his options open. "has indicated his intention to subscribe for approximately......"

thanks for pointing that out HC i realised that cheers

notice lots of stops being triggered

any news of the ratio on offer yet?

no i believe the process ends 3pm today - depends on the bids received from the invited bidders including russell scrimshaw - in fact it is good the chairman is bidding otherwise may be placed too low sp!! the bookrunner (macQ & liberum) will determine the price in the end and be announced later today or tomorrow most likely

gibby - as Harry has pointed out - the wording sounds a bit of a "get out of jail free card".

skinny - in a way yes - i expect it depends how much the other bidders go up to and what his limit is

in the meantime whether he goes ahead or not the potential of sirius is so huge it dont really matter and the chairman has already invested about £4M of his family wealth already without the further £3.4m potential announced today :-))))

gonna end the day blue here - well chuffed with my early top up today :-)))))))0

kerrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnngggggggggggggggggggg

gla

26 January 2012

Sirius Minerals Plc

("Sirius" or the "Company")

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO

Results of Placing

Sirius Minerals Plc ("Sirius" or the "Company") is pleased to announce the successful completion of the placing (the "Placing") announced earlier today.

A total of 305,555,555 new ordinary shares of 0.25 pence each in the Company (the "Placing Shares") have been placed by Macquarie Capital (Europe) Limited ("Macquarie") and Liberum Capital Limited ("Liberum" and, together with Macquarie, the "Joint Bookrunners") with institutions at a price of 18 pence per Placing Share (the "Placing Price"). As part of the Placing, Scrimshaw Nominees Pty Limited as trustee of the Scrimshaw Family Trust, of which Russell Scrimshaw, the Chairman of the Company, is a beneficiary has subscribed for 18,888,888 new ordinary shares in the Company at the Placing Price (the "Chairman's Subscription").

Based on the Placing Price, the gross proceeds of the Placing (including the Chairman's Subscription) will be GBP55 million (approximately US$78 million). The Placing Shares being issued in the Placing (including the Chairman's Subscription) represent approximately 30% of the Company's issued ordinary share capital prior to the Placing.

The Placing Price represents a discount of approximately 23.4 per cent. to the closing middle market price per Ordinary Share on 25 January 2012 on the AIM Market of the London Stock Exchange plc ("AIM").

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of Sirius, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Following the Chairman's Subscription, Russell Scrimshaw will be interested in 32,388,888 ordinary shares in the Company which will represent 2.42 per cent. of the Company's total voting rights after completion of the Placing.

Application has been made for admission of the Placing Shares (including the new ordinary shares to be issued pursuant to the Chairman's Subscription) to trading on AIM ("Admission"). It is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on 31 January 2012 (the "Closing Date") and in any event no later than 13 February 2012.

For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following completion of the Placing and the Chairman's Subscription will comprise 1,339,033,310 ordinary shares with one voting right per share. The Company has no shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

It is a pity we shareholders didn't have a bite of that juicy cherry! Russell did put £3.4m in after all.

agreed kin - but i had some crumbs lol - sold all of this mornings top up so happy with that - buy back at a lower sp later - gl

Well done Gibby!

And down it goes! :o( Fortunately not holding, but that is a big discount to the sp.

My limit buy was 19.8 - quite glad now it didn't get filled - this fundraising has been a long time coming and some positive news flow is now needed.

Especially with all the good news.
1/3 rd off the highs.
Hopefully it will be up from here.

thanks Kim

i was hoping the discount on the sp would not be so high - didnt quite expect that much off hence sell of morning sale
even though this was a good and necessary expected thing for sxx and good to have it out of the way now would expect the sp to reverse a bit more perhaps <19p or even <18p so going to sit tight before next buy me thinks

have a good evening all & gl

RNS Number : 4592W

Sirius Minerals Plc


31 January 2012

Sirius Minerals Plc

("Sirius" or the "Company")

Holding(s) in Company

Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, has received notifications, dated 30 January 2012, from Mr Chris Catlow and Mr Chris Fraser that on 31 January 2012 their interests in the Company will be 7.5% and 8.5% respectively following the issue of 305,555,555 new ordinary shares announced on 26 January 2012.

This seems to have hit a bottom, maybe short term, and buying is around twice the sells. Would expect it to start to move up further now the (18p) placing is past. Probably needs further good news but have picked up a few and will buy more when and if it starts to move up again. H

To put it in perspective,Potash Co produces roughly 9-10 million tonnes of potash per year current share price is $46.50. Remember this company started around $0.36 per share in 1989!

Sirius in their presentation believe they could produce 2.5m tonnes per year when production starts 2014-2017 for York Potash. Once they start piling in cash the production rate is bound to increase and could easily double.

I make it that the share will be around £5.00-7.00 min. for SXX

This will be perfect for my pension pot in 20 years time, will keep buying every month.

Exciting times imo. Obviously theres a few hurdles to get pass first, so i will only buy small chunks for time being.

17 February 2012

Sirius Minerals Plc

("Sirius" or the "Company")

Drilling Update

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to provide an update on its drilling operations at the York Potash Project.

SM3 Drilling Progress Update

Progress at SM3 the Company's third hole at the York Potash Project, has been good and the final casing has now been inserted in preparation for coring. Current work to date at SM3 has been free from the fluid loss zones and the resultant delays experienced at SM2. Final casing depth on SM3 was reached in just 10 days compared to 40 days at SM2. The casing has now been run into the hole and cemented into position with full coring of the target horizons expected to commence soon. Once the hole is complete, a deflection from this hole will be undertaken to obtain further information on the consistency of the deposit.

Second Coring Rig

The second coring rig commissioned by the Company's retained drilling contractor is now complete and undergoing final maintenance and equipment checks. It is envisaged that the rig will move from the suppliers in southern Europe by week commencing 27 February 2012, with a view to being on site around the end of March 2012. The second coring rig will help to speed up the completion of the York Potash Project drilling programme.

SM2 Assay Results

Following the successful completion of coring at SM2 (as announced 23 January 2012), the mineral cores extracted were sent to the British Geological Survey for full chemical analysis. The Company has received confirmation that the full assay results from SM2 will be available around 7 March 2012.

Chris Fraser, Managing Director and CEO of Sirius said:

"We are delighted with the progress on SM3. This has helped us to claw back some of the time and budget we had to put aside after the experience at SM2. Our experienced and professional team is continually adapting its approach to help ensure the drilling work is delivered as quickly and as efficiently as possible."

Drilling Update
SM3 Drilling Progress Update
Progress at SM3 the Company's third hole at the York Potash Project, has been good and the final casing has now been inserted in preparation for coring. Current work to date at SM3 has been free from the fluid loss zones and the resultant delays experienced at SM2. Final casing depth on SM3 was reached in just 10 days compared to 40 days at SM2. The casing has now been run into the hole and cemented into position with full coring of the target horizons expected to commence soon. Once the hole is complete, a deflection from this hole will be undertaken to obtain further information on the consistency of the deposit.

Second Coring Rig
The second coring rig commissioned by the Company's retained drilling contractor is now complete and undergoing final maintenance and equipment checks. It is envisaged that the rig will move from the suppliers in southern Europe by week commencing 27 February 2012, with a view to being on site around the end of March 2012. The second coring rig will help to speed up the completion of the York Potash Project drilling programme.

SM2 Assay Results
Following the successful completion of coring at SM2 (as announced 23 January 2012), the mineral cores extracted were sent to the British Geological Survey for full chemical analysis. The Company has received confirmation that the full assay results from SM2 will be available around 7 March 2012."

It looks like another push upward is under way . Up 1 yesterday, 2 more today.