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Maiden Ore Reserve

Maiden Ore Reserve

· York Potash Project Ore Reserve of 250 million tonnes with an average grade of 87.8% polyhalite from just 1% of the Project Area.

· Thickest and highest grade polyhalite Ore Reserve in the world defined from world's largest and highest grade polyhalite resource.

· Ore Reserve provides for a Phase 1 mine life in excess of 50 years.

· Potential for mine life to double following underground exploration of the Inferred Mineral Resource.

From this week's IC:
"SXX has decided to delay submitting a new mining permit application for it's York polyhalite project in the North York Moors National Park until July 2014 in order to complete additional environmental work. Sirius withdrew its previous application earlier this year after third party consultants for the park authority said more environmental studies were required.
This is a significant setback for investors as it now looks like there will be nearly another year of waiting for a meaningful development in the permitting process. Even if the project is eventually approved, there are still several other big issues to be resolved, including mine financing and establishing the marketability of polyhalite - despite Sirius releasing an impressive resource update.
Shares in SXX fell 20% on news of the delay and are down 53% since we published opposing buy & sell arguments in march. We advised readers to sell in July (20.5p) and again in August (15.25p) and repeat that advice again. Sell at 10p.

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.

Winston Churchill

I see that Sirius had another good day yesterday on its downward spiral.
Maybe it's getting closer to a good price to dip my toe in the water?
TT

Yes - I'm definitely now a holder here as opposed to a trader!

What was the target price of the ex- broker 8 ?

Most recent broker guessesupdates!

26 Sep 13 Sirius Minerals PLC Macquarie Outperform 8.42 - 26.00 Reiterates
09 Sep 13 Sirius Minerals PLC Jefferies International Underperform 8.42 9.00 9.00 Reiterates
16 Aug 13 Sirius Minerals PLC Liberum Capital Buy 8.42 - - Reiterates
13 Aug 13 Sirius Minerals PLC Citigroup Buy 8.42 80.00 60.00 Reiterates

Isn't it amazing the differences between some brokers (from 9 to 60 !!). Nobody would think that they were talking about the same stock !

Of course, it's the classic question " half full or half empty ?"

the differences mean some of their so called analysts haven't got a clue and some may be on the right track. dyor.

On a downtrend and looking like the end is not there yet

My own view is that there is some potential for gains but that could be a long way off with many hurdles to cross first. Unfortunately, the hurdles are rather high with the area being protected etc.
At 8p, and using some money that you can afford to write off, something to tuck away and forget about. Just like a pension! It may pay out in the future, but then again the returns might just be rubbish.
TT

To my way of thinking the management were pretty poor in not anticipating the debacle of a couple of months back which led to the current collapse in price.

There is real potential here, but at the moment , it's a lot like kicking a man when he's down !

York Potash Approvals Update

York Potash Approvals Update

· Company considering resubmitting York Potash Project application rather than refurbishing existing application

· Approach likely to simplify planning documentation with no change to previously announced timeframes

· Company considering extension to underground project boundary, which would result in identical planning applications being submitted to the National Park Authority and North Yorkshire County Council

York Potash land acquisition

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") are pleased to confirm that its subsidiary York Potash Ltd has completed the purchase of Dove's Nest Farm ("the farm"), near Sneaton, Whitby.

The farm is the site of the proposed shafts and sub-surface processing buildings for the York Potash Project (the "Project"). The completed sale totals approximately 100 acres of freehold ownership and includes farm buildings, the farmhouse and three separate holiday accommodation units. The sale has been completed on fair market terms.

The farm will remain occupied and operational in advance of the approvals process being completed for the Project.

Chris Fraser, Managing Director and CEO of Sirius said:

"There is no greater evidence of our determination to achieve the approval and completion of this project than our purchase of Dove's Nest farm, the proposed location of the mine."

Now 7.3p. Others suggesting that should the 6p level be breached, 2p would be the next support. Tom Winnifrith (Monday 4 November 2013) describes it as an 'equity drawdown death spiral'. Not many serious supporters of the stock that I can find atm.

Yes - well and truly in the bottom drawer!

Harry, I am still watching for the right moment to make a speculative buy on this one.
The only trouble is deciding at what level it is right to get onboard.
Looking at the chart 8p was a support level but that has gone this morning.
Next level looks like just above 6p and if that goes then you are right the 2p level looks likely.
On second thoughts, maybe I should look for a better play. (;-))
TT

And PS
Skinny has a shedload of these (in his bottom drawer) since I asked him whether he had gone long on it some time ago.

This company (OSTARA) were covered - or more accurately - what they do - on the BBC news this morning.

It looks quite interesting, but at 1st glance, I can't find an easy way to invest.

On edit :- here is the BBC snippet and another .

TT :-)

Let's face it waiting until the latter half of next year is like an eternity in the current economic climate.