SP still climbing this morning... it's looking good! (hope I'm not speaking too soon!)

North Dakota: land acquisition and drilling update

The Directors of Sirius Minerals Plc (AIM: SXX, OTC: SRUXY), the potash mining group, are pleased to announce that its wholly owned subsidiary, Dakota Salts LLC ("Dakota Salts"), has acquired a further 1445 net mineral acres of lease areas adjacent to its existing properties in North Dakota. The Company now controls some 10,090 net mineral acres of lease areas overlying the Williston Basin, having an overall land position of approximately 21,492 gross mineral acres within North Dakota.

The new acreage has been acquired from multiple unconnected owners for nominal initial cash payments per mineral acre with royalty payments due on mining production in line with industry norms.

Time to be watching for a bounce, imo.

related
http://seekingalpha.com/article/245634-3-commodities-that-will-shine-in-2011-fertilizer-lithium-and-uranium

Acquisition of York Potash Ltd and CEO appointment


The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to announce:

the acquisition of York Potash Ltd; and

the appointment of York Potash's founder, Chris Fraser, as Managing Director and Chief Executive Officer of Sirius.


YORK POTASH ACQUISITION

Key facts

Various agreements in relation to mineral rights both onshore and offshore over approximately 600km2 between the towns of Whitby and Scarborough in England, UK;

Situated in a known high grade potash region with existing operations on an adjacent property;

Extensive historical data from previous potash and petroleum exploration in existence;

Established as one of the world's largest deposits of polyhalite at mineable depths;

JORC Exploration Target1 of between 3.3 and 6.0 Billion tonnes of 67% to 94% polyhalite (19% to 27% K2SO4); and

JORC Exploration Target1 of between 330 and 400 Million tonnes of 35% to 40% of potassium chloride

Directors' Dealings

The Board of Sirius Minerals, the globally diversified potash mining company, was notified on 17 January 2011 that Andrew Lindsay, Chief Financial Officer and Finance Director of the Company, purchased 582,352 ordinary shares in the Company at an average price of 17 pence per share on 17 January 2011. Mr Lindsay now holds a total of 582,352 ordinary shares in the Company representing 0.07% of the Company's issued share capital.

made big mistake in selling these for SKR .

kerrrchinnnnggggg! lol

tanker - just to make sure - i only posted last post because sxx has been very good to me - nothing to do with you selling for skr - did not want a misunderstanding - i am also in skr - like both companies - gl

North Dakota Assay Results

While Sirius is still awaiting the finalisation of the technical report and recommendations from North Rim Exploration Limited ("North Rim"), the following observations can be made:

The total intersection is interpreted to include the White Bear marker bed (1.57m) followed by 15.05m of interbed halite with 8.69m of Esterhazy Member mineralisation at the base;
The total Esterhazy Member intersection was 27.9 ft (8.5 metres) with an average grade of 11.8% K2O;
Peak value of K2O within the Esterhazy intersection of 41.0% K2O and 10.3% Carnallite over 1.1 feet (0.34 meters); and
The potash mineralisation is in the form of both sylvite and carnallite which is similar to Esterhazy Member type mineralisation seen in the Saskatchewan Prairie Evaporite Formation.

Sirius and its consultants are continuing to review these results and are planning the next stages of its exploration programme which may include additional seismic lines, geochemical and regional studies prior to initiating further drilling.

Down 10% on the news???

i think you will find some big orders are being filled - dont panic - personally i topped up twice today whilst cheap on this excellent news - sirius is wanted - the mms (market manipulators!!!) doing a grand job filling big orders it will pass - kerrrrchinnngggggggggggggggg!! lol

dont forget york alone esitmated value up to 60p by some...

Sirius Minerals (SXX 18.25p / 132.88m)

The Company has announced the acquisition of York Potash Ltd (a private UK company) and the appointment of York Potashs founder, Chris Fraser, as Managing Director and Chief Executive Officer of Sirius. They also announced the appointment of Andrew Lindsay as Finance Director and Chief Financial Officer of the Company, replacing Jonathan Harrison, who has retired from the Board. The acquisition concerns various agreements to onshore and offshore mineral rights over approximately 600 km2 between the towns of Whitby and Scarborough on the English east coast. Situated in a known high grade potash region with existing operations on an adjacent property, this is established as one of the worlds largest deposits of polyhalite at mineable depths. Polyhalite is a potentially valuable source of Sulphate of Potash (SOP) or potassium sulphate (chemical symbol K2SO4). SOP is a highly sought after premium potash product which trades at a significant premium to conventional potash or Muriate of Potash products. Importantly, SOP does not contain chlorine which limits certain applications of MOP as a fertilizer. As consideration for the acquisition, 150 million new Ordinary Shares of 0.25p each in the Company have been allotted (conditional on AIM admission) to the shareholders of York Potash Ltd in consideration for 100 per cent of the issued share capital of York Potash Ltd which, at the closing price of 16.75 pence per share on 14th January 2011, equates to 25.1 million. While the York project is still at the early stages of exploration and assessment, the Directors believe the potential of the project is significant.

http://www.yorkpotash.co.uk/index.php?option=com_content&view=category&layout=blog&id=1&Itemid=30

Sirius Minerals to explore potash opportunities in North Yorkshire

Sirius acquisition of York Potash Ltd enables detailed exploration which may pave the way for the first new UK potash mine in 40 years

Sirius Minerals plc (Sirius), the UK-based and AIM-listed mining business, has today (Monday 17 January 2011) announced the acquisition of York Potash Ltd, a private UK business that holds interests in substantial mineral rights in the Scarborough to Whitby area of North Yorkshire (the York Potash project).

Sirius is a global expert in potash exploration and development and currently has three other potash projects in Australia and the USA. By acquiring York Potash, Sirius now controls sufficient mineral rights to undertake test drilling and seismic surveys in order to investigate the technical viability for a new potash mine in the North Yorkshire region. Other detailed environmental studies will also be undertaken as part of the process.

Subject to further geological studies and successful exploration testing, it is anticipated that the York Potash project could be the UKs first new potash mine in more than 40 years. The UK is currently only served by the Boulby Mine (also in North Yorkshire) operated by Cleveland Potash Limited. The York Potash project will be financed through direct investment from Sirius.

Subject to successful completion of the exploratory and surveying work, it is anticipated that details will be developed for a suitable extraction point (mine head) with accompanying infrastructure. Planning permissions will then be sought with a view to making the York Potash project operational as soon as is practically possible.

Chris Fraser, Managing Director and CEO of Sirius Minerals plc, said: Demand for potash is undergoing significant growth. Potash is an essential component in the fertilizers that we all rely on for cost effective food production. The York Potash project, subject to successful testing, could become a new and strategically important potash mine for the UK. This will help the UK to meet its own needs, giving it security of supply and, importantly, creating a project of local, regional and national economic significance. Todays announcement is just one step on a longer journey but we are confident that our vision for a high-quality, modern and efficient potash mine in North Yorkshire can be achieved and would deliver an asset of true national importance.

The projects proposed exploration area would extend approximately between Scarborough and Whitby on North Yorkshires east coast. No timetable has been set for submission of a planning permission to develop the mine nor for the intended start of mining operations.

The project has the potential to create up to 5,000 jobs (directly and indirectly). Approximately 1,500 jobs would be created during the development/construction phase and approximately 1,000 jobs during the operational/mineral extraction phase. Additional indirect and induced jobs would also expect to be created in the local and regional economy. Once operational, the York Potash project would be expected to produce agricultural potash for at least 50 years.

York Potash will now also be commencing a communications and stakeholder briefing programme to explain its vision and as part of its commitment to working with stakeholders through the planning process.

Chris Fraser added: The deal between Sirius and York Potash means we can move to the next stage in our vision for a new UK potash mine. Testing and viability are vital and we will now be concentrating on completing the surveys that will inform deliverability. Essentially, we also need to work closely and carefully with our stakeholders and the local community as part of the planning process. Sirius takes its responsibilities to local communities and to the environment extremely seriously and we will be implementing detailed programmes as we look to take things forward.

finally early indications that planning permission will be granted in Yorkshire National Park on the "national interests" ground on the land over which York Potash has secured mineral rights - XCAP, one of SXX's brokers stated in a note published on wed last week that if the planning issues could be satisfactorily resolved, it would put between 68 and 108 pence on the SP?

in addition to the big orders being filled the quality of potash caused some extra panic - i am not worried a minor glitch
gla
http://www.redmayne.co.uk/research/newsView.htm?nID=59850

related....

http://www.build.co.uk/construction_news.asp?newsid=121823

http://www.build.co.uk/construction_news.asp?newsid=121823

blip today - bounce tomorrow? lol

Interesting point - 'planning permission was already granted for these mines, but due 2008, crash, crisis, etc, the mine was not developed. The planning permissions then lapsed.'

--------------------------------------------------------------------------------

from a respected poster.......

'It has certainly been an interesting if not a nail biting day. The RNS was initially received with euphoria but this was tempered with doubts about what the RNS was actually saying and it was a little complicated. The view that the potash found would not be profitable to mine seemed to be accepted and the SP fell with no logic to support the fall. I'm afraid the marker isn't logical or even thoughtful but just reacts. The further falls in the SP were not too surprising.

IF (!) I had sold at 22p and bought back at 17p I could have had a lot more shares or taken out some dosh and kept the same number of shares. Why didn't I do it?

I do keep an eye on the charts and I did notice a few days ago that the SP was jammed up against the top Bollinger line and - with a FTSE share - this would indicate a sell. A Bollinger line is 2 standard deviations away from the mean - hopefully an exponential mean - and this is significant whether it is the top Bollinger or the low Bollinger line. The top line indicates a sell and the bottom line indicates a buy and this is the essence of trading BUT not with AIM shares like Sirius.

On this occasion the Bollinger lines seem to be correct in what they were saying but AIM shares are far too jittery to go with Bollinger lines. I could have sold out this morning and lost heavily on an attempted buy back.

My advice is simple - DON'T try to trade Sirius. Just hold. We have hit a temporary glitch and that is all.'