Sirius Minerals launches £15mln fundraise to develop York project
By Giles Gwinnett
March 11 2015

Potash deposit developer Sirius Minerals (LON:SXX) has launched a share placing to raise around £15mln to advance its York project in Yorkshire, UK.

The fundraise will be conducted by an accelerated book-building process and the books are expected to close no later than 10am today.

Liberum Capital and Macquarie Capital are acting as Joint bookrunners, while WH Ireland is a co-bookrunner.

The firm plans to issue around 214.3 million, or 11.2% of the share capital, at 7 pence each - that's around an 8.5% discount on yesterday's closing price of 7.65p.

The firm is currently going through a lengthy planning approval process for the potential new mine.

Further environmental information for its mine, mineral transport system and materials handling facilities applications was submitted to the relevant local authorities last month.

This 'straddling application' was initially put in to both the North York Moors National Park Authority (NYMNPA) and Redcar and Cleveland Borough Council (RCBC) last September.

Sirius said on Wednesday that two of the key planning decisions for the project were expected by the end of May this year.

Sirius said: "The directors want to ensure that the company remains in a strong financial position throughout the planning approvals process and beyond, and are grateful for the continuing support of key shareholders.

"Prior to the placing, as at 28 February 2015, the Company held cash and cash equivalents of approximately £12 million."

The project will be the first new potash mine in the UK for 40 years and the scope currently envisages a 13 mtpa operation constructed over two phases.

The first phase is designed to provide a 6.5 mtpa operation, which will then be expanded to 13 mtpa over some years.

More follows........

http://www.proactiveinvestors.co.uk/companies/news/78137/sirius-minerals-launches-15mln-fundraise-to-develop-york-project--78137.html

Investor Presentation

Edit-It states:

Created: 10/03/2015 21:47:13
Modified: 10/03/2015 21:47:13

11 March 2015

Sirius Minerals Plc

Results of Placing

The Directors of Sirius Minerals Plc ("Sirius" or the "Company") announce the successful completion of the placing (the "Placing") announced earlier today.

A total of 225,978,103 new ordinary shares in the Company (the "Placing Shares") have been placed by Liberum Capital Limited and Macquarie Capital (Europe) Limited (together the "Joint Bookrunners") and WH Ireland Limited (together with the Joint Bookrunners, the "Managers") at a price of 7 pence per Placing Share (the "Placing Price"). Based on the Placing Price, the net proceeds of the Placing will be approximately £15.0 million (approximately US$22.5 million). The Placing Shares being issued in the Placing represent approximately 11.8 per cent of the Company's issued ordinary share capital prior to the Placing. The Placing is not underwritten.

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

"We are pleased to announce the result of today's significantly oversubscribed placing and acknowledge the significant support shown by both new and existing shareholders. The proceeds raised not only strengthen the balance sheet but also allow us to maintain the development momentum at our flagship York Potash Project."

The Placing Price represents a discount of approximately 8.5 per cent to the closing middle market price per Ordinary Share on 10 March 2015 on the AIM Market of the London Stock Exchange plc ("AIM").

Conditional on the Placing, Scrimshaw Nominees Pty Limited as trustee for the Scrimshaw Superannuation Fund, of which Russell Scrimshaw is a beneficiary, has agreed to subscribe for 714,286 new ordinary shares in the Company at the Placing Price (the "Chairman's Subscription"). Conditional on the Placing, Lord Hutton of Furness has agreed to subscribe for 28,571 new ordinary shares in the Company at the Placing Price (together with the Chairman's Subscription, the "Directors' Subscriptions").

Following the Directors' Subscriptions, Russell Scrimshaw will have a beneficial interest in 40,133,504 ordinary shares in the Company which will represent 1.88 per cent of the Company's total voting rights after completion of the Placing and Lord Hutton of Furness will have a beneficial interest in 28,571 ordinary shares in the Company.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of Sirius, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Application has been made for admission of the Placing Shares (including the new ordinary shares to be issued pursuant to the Directors' Subscriptions) to trading on AIM ("Admission"). It is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on 16 March 2015 (the "Closing Date") and in any event no later than 26 March 2015.

For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following completion of the Placing will comprise 2,136,261,436 ordinary shares with one voting right per share. The Company has no shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency.

http://www.moneyam.com/action/news/showArticle?id=4993522

18 March 2015

Sirius Minerals Plc

Director Dealing and Option Exercise

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or "the Company") were notified late yesterday that Broadscope Pty Ltd as trustee for the Catlow Family Trust of which Mr Christopher Catlow is a beneficiary, sold 3,987,000 of the Company's 0.25p ordinary shares during 16 and 17 March ("Sale Shares") at an average price of 7.46p each.

The net proceeds from the Sale Shares will be used by Broadscope Pty Ltd as trustee for the Catlow Family Trust of which Christopher Catlow is a beneficiary, to exercise 6,200,000 options ("Options") granted in April 2010 and due to expire in April 2015, and in relation to which the Company has today received an exercise notice. The Options are exercised at 4.5p per share, raising a total of £279,000 and the monies will be used for general working capital purposes.

An application will be made for the 6,200,000 shares to be issued pursuant to the exercise of the Options ("Option Shares"), which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place from 8am on 24 March 2015.

Following the sale of the Sale Shares and issue of the Option Shares, Mr Catlow will have an increased indirect beneficial interest of 102,213,000 shares representing 4.77% of the Company's issued share capital.



Following the placement of shares completed on 11 March 2015 the Company was in an open period where directors and employees could buy or sell Sirius shares. The Company has now returned to a close period as it moves towards, what Sirius expects to be, a more intense period of activity in relation to the current approval process for the York Potash Project's mine and mineral transport system.



In addition, as a result of the placing of shares announced on 11 March 2015, Christopher Fraser, Managing Director & Chief Executive Officer, retains a direct and indirect beneficial interest of 122,628,314 shares, which now represents 5.72% of the Company's issued share capital.



Following the issue of the Option Shares, the Company's issued share capital will consist of 2,142,461,436 ordinary shares. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=4998137

27 March 2015



Sirius Minerals Plc

Issue and Allotment of Ordinary Shares following Exercise of Conversion rights

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") hereby announce that the Company has received notices of exercise in respect of convertible securities previously issued on 23 January 2014 at a conversion price of 6.8p per share, the details of which were announced to the market on 12 August 2013 pursuant to which 2,058,825 ordinary shares (the "Relevant Shares") fall to be issued. Application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 30 March 2015. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 2,145,020,261 ordinary shares with voting rights. This figure of 2,145,020,261 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5004066

March issue of the York Potash Project newsletter was out yesterday:

LATEST NEWSLETTER


York Potash Project Corporate Video Published on 3 Mar 2015



THE YORK POTASH PROJECT Website

HARBOUR FACILITIES DCO APPLICATION RESUBMITTED
30 March 2015

The Company has now resubmitted its application for its proposed Harbour Facilities at Teesside. The application is for a ‘Development Consent Order (DCO)’, which is sought from the Planning Inspectorate because the proposals are deemed to be a nationally significant infrastructure project.

1 April 2015
Sirius Minerals Plc

Option Exercise

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announce the receipt of an Exercise Notice in relation to 1,000,000 share options granted to a consultant in March 2010 which expired on 31 March 2015. The Company shall issue and allot 1,000,000 new ordinary shares of 0.25p per share ("Ordinary Shares") at an exercise price of 6p per share, raising a total of £60,000. The monies will be used for general working capital purposes.

An application has been made for the Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM with admission expected to take place from 8am on 2 April 2015.

Following the issue of the Ordinary Shares, the Company's issued share capital will consist of 2,146,020,261 ordinary shares. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5007691

2 April 2015
Sirius Minerals Plc

Potato Trial Results

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide an update on the latest results from its ongoing global crop study programme.

This update provides results from the recently completed potato studies at three separate universities, the Scottish Agricultural College ("SAC"), the University of Minnesota and the University of Wisconsin.

The world potato market is estimated at 365 million tonnes in 2012 and grown on 19.3 million hectares. Because potatoes are sensitive to harmful chlorides, they are an ideal crop for polyhalite which is essentially chloride-free. Potatoes also have a large need for sulphur, one of the main nutrients in polyhalite. The European Union accounts for 13% of the overall global potato production, and also has the highest level of potato consumption in the world at ~90 kg per capita per year.

Specifics of the trial work included, at SAC, comparisons of SOP, MOP and polyhalite as potassium sources in a nutrient balanced trial (including Mg and S) were completed. At the University of Wisconsin, a magnesium rate response trial using polyhalite as the Mg source (balanced for N, P, K, Ca and S) was compared to the fully balanced MOP alternative. At the University of Minnesota, a balanced straights and blends study was executed.

As with previous trials, these results show significant yield increases of between 9% and 10%. Other highlights demonstrate that polyhalite improved emergence by measuring stand counts by 13% and reduced glucose content by 20% which is important for product frying.

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

"By carrying out these trials in these important markets like the United States and UK, where potatoes are a key crop, we continue to validate the effectiveness and value of polyhalite."

An agronomy update presentation and webcast has been uploaded to the Company website www.siriusminerals.com.

http://www.moneyam.com/action/news/showArticle?id=5008996


Agronomy Update

8 April 2015

Sirius Minerals Plc

Remuneration Report & Lapse of Options

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide an update on the results of its Remuneration Committee meeting. Following its recommendation, which mirrors the previous year's recommendation, the Board has confirmed that no share bonuses are to be awarded to Executive Directors or employees under the Company's Short Term Incentive Plan ("STIP") or the Company's Long Term Incentive Plan ("LTIP") in relation to the fiscal year ended 31 March 2015.

Pursuant to the LTIP share awards granted for the fiscal year ended 31 March 2013 (announced on 21 May 2013), 847,381 new ordinary shares of 0.25p each ("LTIP Shares") have vested in April 2015 and will be issued to employees of the Company.

285,714 LTIP Shares will be issued to Chris Fraser, Chief Executive Officer and Managing Director. Following the issue, Chris Fraser will have a total direct and indirect beneficial interest in 122,914,028 ordinary shares in the Company, representing 5.7 per cent of the Company's total voting rights.

An application has been made for the 847,381 LTIP Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM and trading in such shares is expected to commence at 8am Thursday 9 April 2015.

Following the issue of the LTIP Shares, the total number of shares in issue and the total number of ordinary shares in the Company with voting rights will be 2,146,867,642. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Lapse of options

Details of all issued options in Company shares are available on the Company's website at all times and the website is updated frequently. An update today reflects that 43,800,000 options lapsed on 5 April 2015 ("Lapsed Options"). The holder of the Lapsed Options was Broadscope Pty Ltd as trustee for the Catlow Family Trust, of which Mr Christopher Catlow is a beneficiary.

http://www.moneyam.com/action/news/showArticle?id=5011386

Why Sirius Minerals is up again
By Harriet Mann | Wed, 8th April 2015 - 15:25

Sirius Minerals (SXX) has been stuck in a planning application quagmire as it tries to win approval for its potentially massive York Potash project. Getting the authority's go-ahead is vital, but a series of delays has caused a plunge in the share price to new lows. However, the firm has just confirmed it will not be awarding bonuses again this year and there's also news on some lapsed share options.
Directors and staff will get nothing under either the Short Term Incentive Plan or Long Term Incentive Plan for the year to 31 March 2015, said Sirius on Wednesday. They received nothing last year either, but 285,714 LTIP shares will be issued to chief executive Chris Fraser out of a total of 847,381 issued as part of the scheme in 2013. Fraser now owns nearly 123 million shares, or 5.7% of Sirius.

Of greater importance, however, is news that 43.8 million options held by the trustee of deputy chairman Chris Catlow's Catlow Family Trust have been allowed to lapse. Of course, we do not know Catlow's financial situation, but it is understood that the options were in the money and the market could have taken this decision badly. Instead, the avoidance of further dilution of investor's holding has been taken favourably, and Sirius shares are near a 2015 high.



Last month, Sirius raised £15 million from an oversubscribed placing at 7p per share, which will help fund further development at its York Potash project. Multiple delays to the project have put pressure on Sirius's share price, which fell to just over 6p in February. Sirius has been lining up the buyers and approval is expected in May. Expect plenty of newsflow over the next few weeks and months.

"We feel that there will be a positive outcome as Sirius has demonstrated that it will go the extra mile to limit its effect on the local area," said Paul Smith, an analyst at WH Ireland, recently.

"We feel there is considerable value in the York Potash project and we keep our price target unchanged today. Our valuation is based on an NPV (10% discount rate) of the project ramping up to 13Mt/a polyhalite assuming a $2.3 billion capex and a polyhalite price of $150/t, risked for the appropriate stage of the project. Sirius continues to demonstrate a market for its polyhalite product which competes not just with standard potash, but also with sources of calcium, magnesium and sulphate and comes 'preloaded' with a long list of minor trace elements essential for healthy plant growth."

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

9 April 2015

Sirius Minerals Plc

Issue and Allotment of Ordinary Shares following Exercise of Conversion rights

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") hereby announce that the Company has received notices of exercise in respect of convertible securities previously issued on 23 January 2014 at conversion prices of 7.2p and 7.3p per share, the details of which were announced to the market on 12 August 2013 pursuant to which 9,088,662 ordinary shares (the "Relevant Shares") fall to be issued. Application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 10 April 2015. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 2,155,956,304 ordinary shares with voting rights. This figure of 2,155,956,304 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5012173

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10 April 2015

Sirius Minerals Plc

End of Conversion rights from Convertible Security Financing

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announce the end of conversion rights pursuant to the convertible security financing first announced to the market on 12 August 2013.

This follows the Company receiving notices of exercise in respect of convertible securities previously issued on 23 January 2014 at conversion prices of 7.3p and 7.4p per share, the details of which were announced to the market on 12 August 2013 pursuant to which 8,135,877 ordinary shares (the "Relevant Shares") fall to be issued. An application has therefore been made for the Relevant Shares to be admitted to trading on AIM with admission expected to take place on 15 April 2015. The Relevant Shares will rank pari passu in all respects with all existing ordinary shares in the Company.

Following admission of the Relevant Shares, the Company's enlarged issued share capital will comprise 2,164,092,181 ordinary shares with voting rights. This figure of 2,164,092,181 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=5013210

Another good start, but looking a tad over bought!

Approvals update - Supporting applications

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide a procedural update on the progress of two supporting planning applications for the York Potash Project ("the Project").

An application by York Potash Ltd to Scarborough Borough Council ("SBC") for temporary construction accommodation and a park and ride facility was submitted in February 2015. SBC planning officers recommended approval of the application and members of the SBC planning committee subsequently resolved to approve the application subject to conditions at its meeting on 16 April 2015.

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

"We welcome the positive resolution from Scarborough Borough Council for this important part of the wider Project and thank councillors for their support."

An application by North Yorkshire County Council ("NYCC") was submitted in January 2015 to the North York Moors National Park Authority ("NYMNPA") to extend NYCC's existing Whitby park and ride facility. The application is to allow alterations to the layout and landscaping design of the facility and to accommodate additional parking spaces (for the future York Potash workforce), as well as revisions to site opening times to permit public use 365 days of the year.

At a meeting on 16 April 2015, NYMNPA planning committee members resolved to defer its decision on the application as it was considered to be premature, pending the determination of the main Project application.

Whilst important supporting applications in their own right, the outcome of these applications has no bearing on the determination of the applications for the main Project infrastructure (mine, mineral transport system, materials handling facility and harbour facilities).

Approvals update - Harbour Facilities

Approvals update - Harbour Facilities

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide a procedural update on the approvals process for the proposed Harbour Facilities at Teesside for the York Potash Project.

Further to the announcement on 15 January 2015, the Company has been informed that the Planning Inspectorate ("PINS") has accepted the York Potash Harbour Facilities application for a development consent order ("DCO") and this will now be taken forward to an examination. The process that PINS follows is set out by statute and further details are available on its website.

A final decision on the DCO is expected to be made by the Secretary of State for Transport in summer 2016.

TEMPORARY SUSPENSION OF TRADING ON AIM

SIRIUS MINERALS PLC

At the request of the Company trading on AIM for the under-mentioned securities has been temporarily suspended from 23/04/2015 07:30am, pending an announcement.

Ordinary shares of 0.25p each, fully paid (B0DG3H2) (GB00B0DG3H29)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 3037 2000.

Approvals update - Redcar approval

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide an update on the approvals process for the York Potash Project ("the Project").

Further to the announcement on 15 April 2015, at a Regulatory Committee held earlier today by Redcar and Cleveland Borough Council ("RCBC"), councillors unanimously resolved to grant permission for the York Potash mine and mineral transport system ("MTS") planning application.

The remaining key applications are: that part of the 'straddling application' for the mine and MTS which has been submitted to the North York Moors National Park Authority; the materials handling facility application, which has been submitted to RCBC; and the application for the harbour facilities which has been submitted to the Planning Inspectorate.

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

"We are delighted with the positive decision from Redcar and Cleveland Borough Council for this substantial part of the Project and look forward to further progress with our other applications.

"The application is a significant part of the overall approvals required for the delivery of the Project and an important step forward for Sirius."

The Company's ordinary shares are expected to be restored to trading at 1pm today.