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.

Project Update

Project update

§ Engineering Procurement Construction Management ("EPCM") / Engineering Procurement Construction ("EPC") methodologies confirmed as most likely approach for the York Potash Project

§ Revised Definitive Feasibility Study ("DFS") schedule targeting DFS completion in Q4 2013 but initial project construction works intended to commence following grant of approvals

§ Appointment of new Development Director to lead EPCM/EPC implementation approach and Alan Watling to step down

§ SM11 currently coring the evaporate layers following successful open-hole drilling and wireline surveys of the upper 1,238 metres of the hole

Quite a big fall due to the timetable for start being put back to the end of this year.

On the positive side , it has provoked a great deal of buying this morning.

sp down 13%

Still not bought here - maybe I'll get my 12p.

Over 41 million shares traded this morning . Wow, is there interest here or what !

Despite the fall, 60% of the trades are buys .

Trade volume 60 million

MMs playing games.