Major offtake agreement upgrade

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announce the upgrade of its take or pay supply agreement ("Agreement") with its existing Fortune 500 US-based agri-business customer.

The initial Agreement, for the supply of polyhalite from the York Potash Project ("the Project"), was announced on 21 January 2014. It was for 500,000 tonnes per annum of polyhalite for a five year period, from commencement of production, with a possible renewal for a further five years. The Agreement counterparty also had the option to take up to an additional 500,000 tonnes per annum.

The revised Agreement will see the base amount of polyhalite supplied tripled to 1.5 million tonnes per annum. The initial contract term is extended from five years to seven years, with possible extension options for two additional five year periods.

The price to be paid under the Agreement will remain confidential but is still based on a formula linked to the market price of nutrients contained in polyhalite. To give context on the significance of the Agreement, on current prices and over a full 17 year period, it represents a multi-billion dollar trade deal between the UK and US.

The counterparty, which will continue to remain confidential at this time, is a major US based Fortune 500 agri-business and would be seen by investors and banks as a premium grade counterparty.

The Company has now secured 3.1 million tonnes per annum of offtake agreements, with an additional 4.8 million tonnes per annum in other forms of commitments. These agreements will provide further assistance in underpinning future financing requirements.

Sirius lands multi-billion deal - By Harriet Mann | Wed, 19th August 2015 - 11:26

Sirius lands multi-billion dealSirius Minerals (SXX) has bagged a potential multi-billion dollar contract with an unknown Fortune 500 US-based agri-business for its York Moors potash. The commitment comes nearly two months after the blueprints for the mine were given the final seal of approval by local councils, to the relief of tired investors.

The agreement is an upgrade of an existing take or pay supply deal for 500,000 tonnes per annum of polyhalite over five years, which had the potential for an additional 500,000 tonnes each year. Now, at least 1.5 million tonnes of polyhalite will be shipped per annum over seven years. The agri-business can extend this deal by up to ten years.

"The price to be paid under the Agreement will remain confidential but is still based on a formula linked to the market price of nutrients contained in polyhalite," said the wannabe potash miner. "To give context on the significance of the Agreement, on current prices and over a full 17 year period, it represents a multi-billion dollar trade deal between the UK and US."

Sirius has now secured 3.1 million tonnes per annum of offtake agreements for its York Moors potash. A further 4.8 million tonnes per annum has been earmarked under other commitments. The company is trying to negotiate the first phase of debt funding for the project, which was finally approved in July. It's thought the entire development - which includes the mine, mineral transport system and granulator - will cost around $3 billion.



"This is exactly the sort of news were have been expecting following permitting and shows the work that Sirius was able to maintain in the background as the permitting process was being concluded," says WH Ireland analyst Paul Smith. "We retain our Buy recommendation and 50p price target this morning."

The group is running a Definitive Feasibility Study to examine the possibility of increasing the facility's initial capacity from 6.5 million tonnes per annum to 10 million tonnes, and then 20 million tonnes after. At full capacity, over $1 billion of cash could be generated from yearly production of 13 million tonnes of polyhalite selling for $150 a tonne.

Sirius's shares price initially jumped as high as 4% to 17.75p on Wednesday, bouncing off its 16.83p support.

Approvals update - Decision notices

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").

The Company has received the final Decision Notices formally granting planning permission for four out of five planning applications submitted by the Company to the local planning authorities. The Decision Notices are for:

· the mine and mineral transport system from Redcar and Cleveland Borough Council ("RCBC");
· the materials handling facility from RCBC;
· the temporary construction accommodation and a park and ride facility from Scarborough Borough Council, and;
· the operational park and ride facility (which sees an extension to an existing local park and ride) from the North York Moors National Park Authority ("NYMNPA").


The Decision Notice for the mine and mineral transport system planning application from the NYMNPA is currently on track to be received by the Company before the end of September 2015, as previously referenced in the 10 July 2015 announcement.

Sirius was on CountryFile last Sunday, so should still be available on the BBC iplayer for those that are interested. Quite a revealing operation as there is already a company extracting potash in the area (Caledonian Mining, I think) which is now 9 miles out under the North Sea.

Harry, thanks - this looks like it - CountryFile

"John Craven looks at controversial plans for a massive potash mine under the North York Moors. For some the mine will provide an important economic boost to the area, but as John discovers, there are still serious concerns about its environmental impact."

Harry - that other company is CLEVELAND POTASH

Ah, cheers skinny.

Infrastructure UK prequalification

Infrastructure UK prequalification

The Directors of Sirius Minerals PLC (AIM: SXX, OTCQX: SRUXY) ("Sirius Minerals" or the "Company") announce that the Company has received prequalification status from Infrastructure UK ("IUK").

The Company has been in discussions with IUK for some time regarding the likely requirements of its planned second phase financing and prequalification. IUK is a unit within Her Majesty's Treasury ("HMT") and the prequalification is for consideration of a HMT guarantee in relation to the York Potash Project ("the Project"). The receipt of prequalification status does not constitute an offer of financing or an underwriting commitment by IUK. The Company expects IUK to undertake detailed technical, legal and commercial due diligence in parallel with other senior debt investors, at the relevant time during 2016.

If an HMT guarantee was obtained it could provide valuable liquidity for the financing of the Project, alongside senior debt from the bank or debt capital markets and any support from Government backed credit agencies.

An HMT guarantee would be expected to follow a similar form to others placed in the market to date by IUK under The UK Guarantees Scheme; an unconditional and irrevocable financial guarantee of the scheduled principal and interest and consistent with European Commission's Notice (2008/C 155/02) on state guarantees. A standard form guarantee can be reviewed on the HMT website.

Approvals update - Decision notice expected

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.

Further to the update provided on 25 August 2015, the Company has been informed that the final Decision Notice and other relevant documentation from the North York Moors National Park Authority is expected to be circulated for signatures during this week. The final Decision Notice is therefore expected to be issued shortly afterwards.

Liberum Capital Buy 18.13 18.25 38.00 38.00 Reiterates

StockMarketWire.com
Sirius Minerals said the York Potash Project now has all the planning approvals it needs to commence construction and is also continuing value engineering work with a number of contractors in order to prepare for future construction.

Its financing strategy is also advancing and the first phase is planned to be put in place during Q1 2016.

It said the Decision Notice from the North York Moors National Park Authority, which formally grants planning permission for the Company's mine and mineral transport system application, has been issued by the Authority and is with the Company.

The receipt of the Decision Notice is the formalisation of a major milestone for the Company and is the conclusion of over four years' work in the planning process.

Throughout this time the Project, which is expected to create over 1,000 jobs at full production, has enjoyed wide ranging support from business groups, parish councils, the local community, education providers, MPs, local enterprise partnerships and tourism groups.

As set out in its investor presentation (available on the Company website), Sirius is currently finalising its Definitive Feasibility Study ("DFS") which remains on track for completion this quarter.

A disappointing reaction however with the SP.

The Capital Group Companies, Inc. > 11%

StockMarketWire.com
Sirius Minerals confirms that all key town and country planning approvals for its York Potash Project have passed through their respective Judicial Review (JR) windows.

This is a period during which parties can challenge the validity of the decision on legal grounds (not the merits of the planning decision itself).

CEO Chris Fraser commented:
"We are pleased to be able to put the majority of the approvals work behind us and focus on the implementation of this world class Project. The DFS is close to completion and we look forward to announcing its positive findings in January 2016."

Further to the announcement on 20 October 2015 and receipt of the Decision Notice from the North York Moors National Park Authority ("the Authority"), which formally granted planning permission for the Company's mine and mineral transport system, the six week JR period for this decision has now passed.

The Company expects to complete the Definitive Feasibility Study (DFS) early in the New Year and will publish the material findings of the DFS in January 2016.

The financing strategy also continues to be advanced with discussions with financing partners expected to be further progressed following the publication of the DFS results.

KEY POINTS
§ Judicial Review periods for all key planning approvals have now ended

§ Company unaware of any challenge to the National Park Authority decision

§ Other local approvals granted to date beyond challenge

§ Definitive Feasibility Study ("DFS") results to be announced to market in January 2016

Liberum Capital Buy 18.50 38.00 38.00 Reiterates

StockMarketWire.com
Sirius Minerals has narrowed its H1 pretax loss to GBP4.7m, from a year-earlier loss of GBP6.7m. Revenue was nil and most of the losses were attributable to administrative expenses.

MD and CEO Chris Fraser commented:
"It has been a transformational period for Sirius, during which time we have successfully secured the approvals for the key parts of the Project infrastructure, increased the level of customer contracts and advanced the financing strategy."

Take or Pay Offtake Agreement

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announce the signing of a major take or pay offtake agreement in China with Huaken International ("Huaken") for the purchase of polyhalite from the York Potash Project ("the Project").

Huaken was established in 1992 as a subsidiary of China State Farms Agribusiness Group and later registered as a joint stock company in 1997 and authorised to operate an import and export businesses including fertilizers, rubbers, steels and other products. Of note, Huaken is one of a restricted list of companies in China, with the right to import potassium fertilizer.

The agreement is for a period of seven years from first production and pricing is based on a formula linked to inputs that are consistent with a number of the Company's other offtake agreements. Pricing is currently in line with previous market guidance provided by the Company. The volume of the contract is for 500,000 tonnes in year seven (ramping up following construction of the Project). Huaken is purchasing the polyhalite to use it as a soil conditioner in China.

Sirius Minerals among best ideas for 2016

digging it out, & selling , it, been told, by a construction worker during 2017
to be highly likely. BB

27th Jan 2016
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide an update on the Definitive Feasibility Study ("DFS") timing for its York Potash Project (the "Project"). The Company had previously planned to announce the material findings of the DFS in January 2016, but now plans to do this before the end of March 2016.

The completion of a DFS for such a large scale project is a very detailed process and there is a large amount of complex information from various suppliers, consultants and engineering firms that needs to be compiled, reviewed and then integrated into the final DFS. While this process is time consuming, it is vitally important for a project with an expected life of over 100 years that it is robust.

In addition to the finalisation of the DFS the Company is moving towards the selection of preferred tenderers for the three initial critical path components for project implementation, being site preparation, mine shafts and the mineral transport system. Tender information is being used in the completion of the DFS and is providing important and current contractor inputs into its finalisation.

The Company is confident that the final DFS will define a world class project that will be best in class in many aspects. Based on the final DFS the Company is confident that it will execute a financing strategy that will bring the Project into production and deliver significant value to shareholders.

Chris Fraser, Managing Director and CEO of Sirius, comments:
"We are continuing to build a very robust business that will be capable of strong returns throughout the many cycles it will experience over its +100 year life. We thank our shareholders for their patience as we finalise the DFS and look forward to announcing its findings in due course."