Am I right in saying SXX need to raise £164m this year, only having £25m in cash. If so, either a lot more shares are going to come onto the market or they are going to increase debt. It's going to be years before any product comes out of the ground and starts to generate revenue. Of course in the meantime they are going to need yet more cash as these projects nearly always overrun. Imo, what's driving the sp are speculators and traders, long and short and doesn't really have much to do with NAV.

At a rough calculation, $3.5 billion over a 4 year period equates to over $2 million a day.
Still, the important question must concern the importance of the product and the need to try and improve world food production.

From yeszterday - Plunging Sirius Minerals needs £2.5bn

That's an interesting read and only goes to confirm my opinion that this really isn't a good investment for long term private investors atm. I have traded in and out and that seems the best way to make money here.

Beaufort Securities Speculative Buy 16.00 - - Reiterates

You don't say!

Check out the following for a quick insight into what polyhalite is all about.

http://www.siriusminerals.com/our-products/.

Polyhalite reserve increase

Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announces an increase in its Probable Ore Reserve ("the Reserve") at its North Yorkshire polyhalite project ("the Project").

The Reserve has increased to 280 million tonnes at an average grade of 88.4% from the previous level of 250 million tonnes of polyhalite at a grade of 87.8% (as announced on 18 September 2013). The Reserve has been reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves as published by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia ("the JORC Code").

The increase in the Reserve results from the completion of the Definitive Feasibility Study ("DFS"), the results of which were announced on 17 March 2016, and the detailed work that has been completed on the mining schedule and resource by SRK Consulting (UK) Ltd ("SRK") as part of the DFS. Specifically it comprises the tonnage of mineralisation previously reported as an Indicated Mineral Resource which is planned to be mined and then transported to Teesside.

De-icing salt opportunity

§ Scoping study identifies de-icing salt as an additional product line
§ 550 million tonnes JORC compliant Inferred Mineral Resource of high grade de-icing salt
§ Salt production could be used to utilise excess infrastructure capacity as polyhalite production levels vary according to the Company's price and volume strategy
§ US$29m capital investment required to facilitate additional infrastructure capable of producing at a rate of 2 Mtpa
§ Disruptive influence as a low cost salt producer, ideally located to serve major markets of Europe and North America as a swing supplier

Capital funding requirement reduction

§ Contractor engagement has delivered an enhanced implementation approach for the Company's North Yorkshire polyhalite project
§ Total capital funding requirement has been reduced to US$2.91 billion (18% reduction)
§ Stage 1 capital funding requirement has been reduced to US$1.09 billion (33% reduction)
§ Updated Project net present value ("NPV") of US$15.2 billion
§ Updated Project after-tax debt-free internal rate of return ("IRR") of 28%
§ Positive progress on the Company's financing plans with a number of parties undertaking detailed due diligence

Approvals update - Harbour approval secured

Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announces that it has received government approval for the Harbour Facilities element of its North Yorkshire polyhalite project (the "Project"). As a result, all major approvals for the Project have now been granted.

The Company has today been informed by the Department for Transport that the Secretary of State has approved its Development Consent Order ("DCO") for the Harbour Facilities at Teesside. This includes the new berth, ship loading facilities and the conveyor linkage to the Company's materials handling facility at the Wilton International site. The DCO includes all the compulsory purchase powers needed to develop the Harbour Facilities.

Chris Fraser Managing Director and CEO said:

"We're delighted to have secured this final approval for the Project and would like to thank everyone who has contributed towards the positive determinations of all of the planning applications and the DCO application.

"Our team is currently actively engaged in the financing phase of the Project and I look forward to providing further updates in due course. We are closer than ever to delivering this world-class Project."

A copy of the decision letter is available on the National Infrastructure Planning website: https://infrastructure.planninginspectorate.gov.uk/projects/north-east/york-potash-harbour-facilities-order/

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Looking good!

Good luck, but last time that happened it came down faster than it went up!

Harry - hopefully progressing this time - I've got them from 7.4p to 24p and now looking quite healthy!

Approaching its all time high of 32, reached nearly 5 years ago.

Without wishing to be pedantic, it hit 33.75p on 28/11/2011, but still moving in the right direction.

A new high @35p.

And on heavy volumes.

bought @23p 1-7-15 my question is will s/p fall from here , due to refinancing,
s/p of shares do have a habit of rising as we have seen, punters get sucked in,
then blown out with a rights or placing, s/p now 37p. very long term if you have the years its OK. BB

$64,000 question :-)