Having reached its support level, the big question is what kind of a rebound are we going to get?

It is going to be a few years yet before the " Sirius " little pig gets to market. However,with all the drought and flooding that is going on all over the world, decimating crops everywhere, we are certainly going to see big increases in many crop prices . Ways of maximizing production levels have to be found .

Myself, in my own back garden I have several fruit trees ; apple,pear cherry and plum.
The only one this year that is bearing fruit is the apple.

Preliminary Results

Key highlights

· Commencement of York Potash drilling programme. Drilling completed at three boreholes, SM1, SM2 and SM3.

· £55 million of equity capital raisedthrough a placement to new and existing institutional investors.

· Appointment of Russell Scrimshaw as Chairman and Chris Catlow as Deputy Chairman.

· Board strengthened further with the appointments of former UK Cabinet Minister, Lord Hutton, the CEO of Network Rail, Sir David Higgins and former Chief Geologist of Boulby Potash Mine, Peter Woods as non-executive directors.

· Appointment of Graham Clarke former Managing Director of Cleveland Potash Limited, the UK's only potash mine, as Operations Director.
Post balance sheet events

· Completion of the Detailed Scoping Study confirming the technical and economic viability of the York Potash Project.

· Release of the Maiden Inferred Resource of 1.35 billion tonnes of 88.7% polyhaliteconfirming the York Potash deposit as the largest and highest grade resource of polyhalite in the world, based on 2% of the project area.

· Completion of deflection drilling at SM3A and preliminary results for SM4 and SM4A deflection.

· Appointment of Jason Murray as Finance Director and Chief Financial Officer.

· Appointment of Alan Watling as Managing Director York Potash, responsible for leading the project through feasibility studies to construction and delivery of the York Potash Project into production.

· Launch of the York Potash Foundation.

Financials

The Group's year-end cash and cash equivalents position was £54.3 million which will be used to fund completion of the drilling program and feasibility studies for the York Potash Project. The increased level of development activity during the year and impairment charges to the Group's tenements in Adavale and Canning, Australia and Dakota, USA lead to a loss after taxation for the year ended 31 March 2012 of £60.1m (2011: £7.1m). The impairment charges reflect the Group's focus on its flagship York Potash Project, which we believe will deliver the greatest value for shareholders.

Drilling Update


§ SM7 achieved the thickest intersection of high grade polyhalite in the York Potash Project to date with an estimated 85 m intersection of 88% polyhalite. Interpretation of true-thickness is awaiting completion of the first deflection from this hole (SM7A), due to localised faulting

§ SM4, SM4A and SM6 drilling results have proved continuity of high grade polyhalite (>80%) for a further 6.3 km to the south east and nearly 4 km to the south west of SM3

§ Discovery of a new sylvite seam (the Gough Seam) at the top of the Fordon evaporites in SM4, with gamma log analysis showing 8.7 m thickness at approximately 23% potassium chloride

Questor share tip: Sirius still has risks but is worth a gamble
Sirius Minerals has revealed the location and plans for its new potash mine near Whitby. Questor thinks the shares are a speculative buy.

Sirius Minerals' plan for the 4.5-hectare site
7:00AM BST 04 Sep 2012
1 Comment
Sirius Minerals
18p +1
Questor says BUY

Sirius Minerals has reached a major milestone in its bid to open a world-class potash mine in the North Yorkshire Moors. This is positive news but there are still obstacles to overcome.

Sirius has confirmed where the mine head – the entry point – will be located and its design. The site is about two and a half miles from Whitby on the North Yorkshire coast, and the land is currently used for farming and commercial forestry.

The York Potash Mine has what is potentially the world's largest resource of polyhalite, which is used to make sulphate of potash, the rarer and more valuable of the forms of agricultural fertiliser. First production is expected in 2017.

Demand for potash derivatives is expected to grow substantially in the future as food security becomes more important. The global population is expected to rise sharply over the coming decades, with much of the increase in arid regions such as the Middle East and Africa

The chart is starting to look 'familiar'!

Agree Skinny, bought a quarter of my holdings back yesterday. I think SXX could be in for a bit of a run, especially if planning consents seem to be going well. It hasn't filled the gap around 12p, but looks as if it has turned and hopefully heading 30p plus (fingers and toes crossed). H

I never got my 12p - although it came close - still watching.

I think SXX is now in a clear uptrend, so bought back another quarter of my original holdings H

Up strongly again today. What about the next target! Any ideas?

On past performance, target could be 40p plus. Just returned from hols today, intend to buy back the remaining half of my original holdings. H

Launch of York Potash Mine Head Location and Planning Process


. Mine head location selected at a site with minimal visual impact, in an ideal position for construction and access to the Polyhalite Resource

. Initial designs demonstrate concealed mine surface facilities, delivering on the commitment of a low impact and exemplar mine facility

. Twin vertical shafts selected for mine design to minimise technical risk, revised time and cost of construction estimates to be detailed in the Pre-Feasibility Study due in November 2012

. The submission of the Environmental Impact Assessment ("EIA") Screening and Scoping Request to formally launch the planning process and pave the way for a full planning application before the end of 2012

Drilling Update

Drilling Update

§ Preliminary results from the SM7A deflection indicate continuity of the thick shelf seam with an estimated 54m of high grade 92.4% polyhalite, correlating with the shelf seam previously encountered at SM7 and also at SM2, 3, 4 and 6

§ Early interpretation of the SM7B deflection indicates the possible presence of the basin seam in addition to the shelf seam found in SM7 and SM7A, supporting the geological model which predicts overlapping seams in parts of the transition zone

§ SM6 assay results confirm the preliminary interpretation of high grade potassium mineralistion over 4km south west from SM3

§ Nearing completion of resource definition drilling programme to underpin financing and development of the York Potash Project

Questor: Sirius has bright prospects as fertiliser demand rises
Sirius Minerals is developing a potash mine in the North York Moors National Park near Whitby.

Potash is an agricultural fertiliser and demand is expected to rise over the next 50 years. Photo: Reuters
By Garry White
7:30AM GMT 25 Nov 2012
3 Comments
Sirius
22p
Questor says SPECULATIVE BUY

Potash is an agricultural fertiliser and demand is expected to rise over the next 50 years as the global population rises and the amount of arable land shrinks.

Sirius is expected to be loss-making for some time, but is an interesting speculative play on global demand for food. Last week, the company said that its drilling programme means that it could increase its “inferred” resource by 70pc to 2.2bn tonnes of polyhalide.

Polyhalide is a source of potassium containing compounds such as sulphate of potash and muriate of potash.

This represents another step on the road to commercialisation, but further drilling and testing is required for the next stage, which is the movement of these resources from an official category of “inferred” to “indicated”.


Also, a full page reccommendation in this weeks' I.C. One point that is also made is the increased interest being shown by some of the bigger operators in the fertilizer industry. They point out ,too, the possibility of a re-rating of the stock.

Results for the Six Months to 30 September 2012

Highlights:

• Announcement of the proposed mine location for the York Potash Project with initial mine designs and submission of the Environmental Impact Assessment ("EIA") Screening and Scoping Request to formally launch the planning process

• Updated Inferred Mineral Resource Estimate of 2.2 billion tonnes of 82.4% Polyhalite (24% K2SO4)

• Project Study Update for the initial production of granulated Polyhalite, and Concept Study for the production of NPK planned for early December 2012

• Appointment of Luke Jarvis as Commercial Director

Financials
The increased level of development activity during the six months period led to a loss after taxation of £6.1 million. The Group's cash and cash equivalents position at 30 September 2012 was £36.8 million which will be used to continue the drilling program and feasibility studies for the York Potash Project.

3 December 2012
Sirius Minerals Plc

("Sirius" or the "Company")

York Potash Project Study Update delivers reduced cost, time and risk


§ Evolution of development strategy to maximise value from the world's largest and highest grade Polyhalite Resource at the York Potash Project

§ Market engagement and scientific research confirms significant global demand potential for Polyhalite

§ Lower risk and value enhanced initial development:

o Estimated capital cost to first production reduced to US$1.7 billion1

o First production targeted to commence earlier in Q4 2016

o Simplified processing to produce 5 million tonnes per annum of granulated Polyhalite

§ NPK Concept Study confirms viability of producing 5 million tonnes per annum of NPK fertilizers using Polyhalite as the primary source of Potassium ("K")

§ Definitive Feasibility Study ("DFS") work already commenced on both Polyhalite and NPK targeting completion during Q2 2013 to enable commencement of construction during Q3 2013

§ Expansion capacity and options to produce Sulphate of Potash ("SOP") to be considered once the Project is generating positive cashflow

1Figures exclude contingency, costs +/- 25% accuracy.


Sirius Minerals Plc ("Sirius" or the "Company", AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, is pleased to announce the completion of the York Potash Project Study Update (the "Project Study") and the NPK Concept Study for the Company's 100% owned York Potash Project (the "Project" or "York Potash").

Chris Fraser, Managing Director and CEO of Sirius commented:

"Our engagement in the major fertilizer markets around the world has led us to focus the initial development of the York Potash Project on granulated Polyhalite, a unique and sustainable potash product. This simplified development approach, analysed in the Project Study, delivers a significantly lower capital cost to achieve first production and materially reduces our initial financing requirements.

"The NPK Concept Study has provided the validation of NPK production; a move which could further de-risk the Project whilst generating significant value for shareholders and offering revenue diversification. These studies are a major milestone for the Company and propel us forward to becoming a global leader in the fertilizer industry and an integral part of the solution to the important issue of food security."

Investor Presentation and Audio Webcast

This announcement should be read in conjunction with the Project Study Update presentation available at www.siriusminerals.com. There will be an audio webcast available on Monday 3 December 2012 at 14:00 (GMT). The webcast will be accessible via www.siriusminerals.com following which there will be a replay facility available. There is also a conference call available for participants unable to access the webcast at 14:00 (GMT): +44 (0)20 7136 2054 (participant code: 9309492).

Development Strategy and Key Findings

The initial development of the York Potash Project will focus on producing 5 million tonnes per annum ("mtpa") of granulated Polyhalite product. Sirius will target multiple routes to market with the granulated Polyhalite from the initial development as a direct application multi-nutrient fertilizer or blended with Nitrogen and Phosphorous to create NPK fertilizers containing all six macro-nutrients essential for fertilization.

The initial development will deliver a simplified start-up project to reduce the external financing requirements and move the Project into positive cashflow as soon as possible. The initial development has been engineered to a level of accuracy of +/-25% in the Project Study with key findings as follows:

§ Estimated capital cost to first production of US$1.7 billion1;

§ First production in Q4 2016, ramp up to 5mtpa by 2018;

§ Estimated Teesside FOB operating cost of US$37/tonne1;

§ Positive free cash flow in 2017; and

§ Initial development (5mtpa of Polyhalite) after-tax net present value of US$2.6 billion increasing to US$5.9 billion on first production1,2

The stock has had the bit between its teeth the last few days.
Any bets for 32 p, the old high

In auction +8.7%

Item on potash mining in Yorkshire on the BBC this morning!

From the BBC

31 January 2013 Last updated at 12:37 Share this pageEmail Print Share this page

130ShareFacebookTwitter.Plans submitted for North York Moors potash mine The mining company said the area contains some of the world's biggest deposits of potash Continue reading the main story
Related Stories
Pipeline planned for potash mine
Potash mine location is unveiled
Firm puts £54m into potash plan

A company has submitted a planning application to build a potash mine in the North York Moors National Park.

Sirius Minerals made the announcement to the Stock Exchange earlier.

The company said that test drillings showed the area contains some of the world's biggest deposits of potash, which is used mainly in fertilisers.

If the plan is approved by North York Moors National Park Authority, the mine head will be constructed on farmland south of Whitby.

The project includes a 27-mile (43km) underground pipeline to transport the potash ore from North Yorkshire to Teesside.

Earlier this month, the company was granted approval by the the Marine Management Organisation (MMO) to extract potash from under the seabed.

'Robust case'

Chris Fraser, managing director and chief executive of Sirius Minerals, said the project would create "significant new jobs" and improve local skills "for generations to come".

Continue reading the main story
“
Start Quote
Suddenly, I'm going to have all this noise and disruption... it's devastating”
End Quote
Margaret McKelvie

Resident

The company added in a statement: "A huge amount of technical work and studies have gone into the application and we believe that we have both put forward a robust planning case and set a new benchmark for sensitive design in the mining industry."

But Margaret McKelvie, who lives next to the proposed site, said she would appeal for compensation if the mine went ahead.

"It's completely tranquil, there is no noise at all, beautiful views," she said.

"Suddenly, I'm going to have all this noise and disruption and so on.

"Having bought at this lovely spot you can imagine that it is devastating."

The National Park Authority said the application should be available for the public to view on its website next week.

It will also be available to the public at locations in Helmsley, Whitby and Scarborough.

The authority said it is planning to hold public meetings as part of a 16 week consultation process, with a decision on the application expected in May.
More on This Story
Related StoriesPipeline planned for potash mine 19 NOVEMBER 2012, YORK & NORTH YORKSHIRE
Potash mine location is unveiled 03 SEPTEMBER 2012, YORK & NORTH YORKSHIRE
Firm puts £54m into potash plan 27 JULY 2012, YORK & NORTH YORKSHIRE
Government cash for potash firm 01 NOVEMBER 2011, YORK & NORTH YORKSHIRE
Related Internet linksNational Infrastructure Planning The York Potash Project Sirius Minerals North York Moors National Park Authority
The BBC is not responsible for the content of external Internet sites

I reckon a further break to the upside is a good possibility. There are 3 things that I like the look of here.

1 BBC news item should help spark further interest, with talk of 1,000 jobs and future increasing demand for potash .

2 The chart looks good with indications of a break to the upside.

3 There is urgent need for increasing world food production, and they have the potential to be the world's largest supplier of potash.