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
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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.

Early bath, in auction -8.1%

ooops no games - should reverse more next week hopefully..... was looking for a lower price - expect more drop...2016 to production is a heck of a long way off be plenty fund raisings in the meantime...

Sirius changes York Potash construction model The share price of Sirius Minerals
(SXX) went into reverse after the prospective Yorkshire potash producer revealed that it plans to adopt an Engineering Procurement Construction Management (EPCM) model for the construction of its flagship York Potash Project.

The decision is in line with last year’s project study recommendation, but it means that the previously envisaged ‘owner-led’ approach has been discarded, with the effect that mining veteran Alan Watling will now step down as the project’s driving force in favour of an as yet undisclosed project director with extensive EPCM experience.

The news didn’t sit well with some shareholders, particularly as the move to an EPCM model means that the completion of the project’s Definitive Feasibility Study has been pushed back to the tail-end of 2013.

Whatever the market feels about the loss of Alan Watling’s undoubted industry experience, analysts at Liberum Capital make the point that “the EPCM model uses a single Tier 1 group to oversee the project, signing off on development stages and managing all contractors. As such, this method of development management by a single Tier 1 group is viewed positively by credit rating agencies and hence places Sirius in a stronger financing position”.

IC VIEW:
Regardless of today’s announcement, Sirius is confident that construction will commence during the second half of this year, while first production is targeted for 2016. The company’s shares fell by 9.4 per cent on today’s announcement, but we still think they’re a speculative ‘buy’ at 26p.

Last IC view: Buy, 22.5p, 22 Nov 2012

York Potash signs KEYTRADE AG marketing agreement

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company"), the globally diversified potash development group, are pleased to announce the signing of a marketing agreement with KEYTRADE AG ("KEYTRADE").

KEYTRADE, one of the world's leading fertilizer trading, distribution and marketing companies, will market up to 1.75 million tonnes per annum of Polyhalite produced at the York Potash Project (the "Project"), currently under development by Sirius. The Project's initial production is currently scheduled to begin from late 2016 with a first phase production target of 5 million tonnes per annum. KEYTRADE will be marketing in key regions of Central and South America (excluding Brazil), South East Asia, as well as specific countries in Europe and Africa.

Update on current cash position

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company"), the globally diversified potash development group, would like to correct current misinformation about the Company's financing plans for the York Potash Project.

As at 31 January 2013, the Company had a cash balance of GBP24 million and no immediate plans for a placement of shares.

The development of the world-class York Potash Project will require multiple financings and these will be carried out when required, when opportunities present themselves and always with the best value to shareholders in mind.

The Company is making excellent progress towards its goals and continually reviews multiple options on how best to finance the rapid development of the York Potash Project.

25 February 2013


Sirius Minerals Plc

Senior Management Appointment - Gordon Cowe


The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company"), the globally diversified potash development group, are pleased to announce the appointment of Gordon Cowe as Development Director. Gordon will be responsible for leading the development of the York Potash Project (the "Project") from Definitive Feasibility Study ("DFS") to construction and into production. His new role with the Company commences on 25 March based at the York Potash offices in Scarborough, North Yorkshire.

Gordon is one of the world's leading Engineering, Procurement, Construction & Management ("EPCM") and Engineering, Procurement and Construction ("EPC") contractor managers and brings unparalleled skills in these project development methodologies.

Gordon is a professional engineer with a Mechanical Engineering degree from Strathclyde University, and over 25 years of experience in managing business units and major projects in the resources industry. Gordon's range of experience spans working for operating companies, engineering and project management consultancies and project development companies in the hydrocarbon, minerals and metals sectors within Australia, Asia, the Americas and the Middle East.

Chris Fraser, Managing Director and CEO of Sirius, commented:

"We are delighted to appoint Gordon Cowe as Development Director to lead this next rapid phase of the Project. Gordon has unparalleled expertise developing major projects like the York Potash Project and his EPCM and EPC experience puts the Company in a strong position as we work towards first production."

Gordon Cowe, Development Director of Sirius, commented:

"The opportunity to return to the UK and be part of a world class, internationally significant project with so many national benefits is an opportunity too good to miss. I have been following the development of the York Potash Project with interest for some time now and look forward to moving the Project into production as quickly and safely as possible."


About Gordon Cowe:

Gordon initially trained in project management in the hydrocarbon sector, an industry which leads in its approach to project discipline, risk management and exhibits a strong safety culture. As Project Manager, he was responsible for the delivery of offshore hydrocarbon projects for Shell in Brunei and the Gulf of Mexico and for Saudi Aramco in Saudi Arabia.

While working in Saudi Arabia, Gordon had corporate stewardship and review responsibility for the Ma'aden Phosphate development including a phosphate mine and beneficiation plant, four fertiliser plants, supporting infrastructure and export port facilities. Gordon was also Project Director for Fortescue Metals Group's T45 iron ore mine, rail and port EPCM project and the subsequent planning for the expansion project to 155 million tonnes per annum.

Most recently Gordon was at WorleyParsons, with the position of Global Managing Director of the Infrastructure and Environment division and had particular responsibility for the development and implementation of the mine to port developments including African Minerals in Sierra Leone, Oakajee port and rail and Roy Hill mine to port in Western Australia and the CCX Coal development in Colombia. He was also a member of WorleyParson's CEOC (Chief Executive Officer's Committee), an advisory group to the CEO.

The Times – Sirius Minerals – Big shot: Gordon Cowe
26th Feb
http://www.directorstalk.com/the-times-sirius-minerals-big-shot-gordon-cowe/

3
Mar 2013
Sirius Minerals – March 2013 Investor Presentation
By News Teamin News
- See more at: http://www.directorstalk.com/sirius-minerals-march-2013-investor-presentation/#sthash.BZ6C4SyI.dpuf