$64,000 question :-)

Interim results for period to 30 June 2016

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") announce the condensed interim unaudited consolidated financial statements for Sirius and its subsidiaries ("the Group") for the six-month period ended 30 June 2016.

Highlights

· Completion of definitive feasibility study for the Company's North Yorkshire Polyhalite Project (the "Project").

· Selection of preferred construction contractors for the Project - Associated Mining Construction (UK) and Hochtief Murphy joint ventures.

· The announcement of a Project capital funding requirement of US$2.91 billion and a Stage 1 capital funding requirement of US$1.09 billion.

· Take-or-pay offtake agreement with Yunnan Dian Huang Peony Industrial Group Co. Ltd (Dian Huang).

· Appointment of Louise Hardy as a Non-executive director to the Board.

· Increase of the Company's polyhalite probable reserve.

· Announcement of the details of a potential de-icing salt opportunity as part of an opportunistic strategy to generate additional revenues.

Post-balance sheet events

· Government approval for the harbour facilities element of the Project which includes a new berth, ship loading facilities and conveyor linkage to the materials handling facility and all the compulsory purchase powers needed to develop them. As a result, all major approvals for the Project have been granted.

Financials

· During the six-month period ended 30 June 2016 the Group made a consolidated loss of £4.1 million compared to a loss of £4.7 million for the six-month period (April to September) last year.

· Cash resources at the end of June 2016 were £16.9 million compared to £29.1 million at 31 December 2015 and £25.1 million at 30 September 2015.

· The Group's net assets at 30 June 2016 were £161.7 million compared to £165.2 million at 30 December 2015 and £153.4 million at 30 September 2015.



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

"It has been another period of progress for Sirius, during which time we have successfully secured the final major approval for our important Project and set the platform for the advancement of our financing strategy."

15 Aug Liberum Capital Buy 36.38 40.00 40.00 Retains

We can but hope!

strap in for lift off!!

gla

Is that a prediction?
I thought perhaps we already had it.

plenty in the tank here - should be preparing for 3 figures

Just a thought.....cash burn is approx £8m per six months. Cash in the bank at June 2016 was £17m (I have rounded up/down the figures). Assuming cash burn is steady, which it probably won't be...I assume an increase....there is only enough cash remaining until June 2017. I can't imagine they will wait until the last minute, so a big placing has to be in the pipeline?

What if any news is there on the
starting and finishing dates for the work to be undertaken ?

This link should answer your question. Turn to page 21:

http://siriusminerals.com/site/flexpaper/Publications/project_summary_document_july_2016/project_summary_document_july_2016.php

Thanks Harry.
It certainly looks like at least 2021, even if they started today!
It's good to see though that this movement upward is based on very high volumes.

Looking over bought?

Definitely. I don't hold, but presumably you holders are having to decide whether to take profit or ride out the dips?

Yes - I'm sitting on +170% - so decision time looming!

Your round then skinny.....before the tax man gets his hands on some of the profit!

Fortunately they are sipped - unfortunately not a large holding!

Sold a chunk and hey........sp goes up again! :o(

SP @ 40p - a Psychological profit taking milestone for some long-run investors; especially as stock is becoming rare. Expecting all the usual antics from MMs & BB de-rampers etc., to release more shares, resulting in a small dip.

'Second wind investors' will re-buy on dip and SP probably sail through 40p barrier toward next psychological hurdle 50p-60p.

Lots of upward mileage still over the next year on SXX; jut need to surf waves in the right direction.

DYOR
HAb

Worth a read and also worth noting the timescale!!

http://www.proactiveinvestors.co.uk/companies/news/129383/a-closer-look-at-ambitious-sirius-minerals-north-yorkshire-polyhalite-project-129383.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-355896-PROACTIVITY+-+Aminex+and+Solo+Oil+put+in+spotlight+after+first+gas+payments+in+Tanzania

Also interesting that HMI has also gone up, in the same sector.

Thanks for the link Harry. HMI makes this rise look relatively tame!