Heading to 55p imo.

Sirius Minerals attracts 25% upgrade

Attractive short and long term opportunities; listen to Yaz, she knows all about it!

If we can read between the lines , what can we say are the main reasons for the doubling and then some of the share price.

Maybe the following points.
1. Perhaps a realization that there is a world class product to be marketed.
2 Borrowing costs are rather less than envisaged earlier.
3. The reduction in interest will further cheapen the above costs.
4. The project could get started in the next few months.

Liberum Capital Buy 42.25 40.00 40.00 Retains

In Harry's 711 , above, Shore Capital suggests a price of 60.

Chinese have already forward payment, for a few tons, look back previous RNS
a takeover, not until mine has been running a year 2020 BB

Financing - progress update

Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provides an update on the financing for its North Yorkshire polyhalite project (the "Project").

The Company's financing plan was articulated in the announcement of 17 March 2016 and updated in the capital funding requirement reduction announcement of 24 June 2016. The Company continues to make good progress with its two stage financing plan.

Following a market sounding with potential senior debt lenders the Company has now mandated a group of six financial institutions experienced in mining and infrastructure project finance as Mandated Lead Arrangers (the "MLAs"). The MLAs - Export Development Canada ("EDC"), ING; J.P. Morgan; Lloyds Bank plc; Societe Generale, Corporate & Investment Banking; and The Royal Bank of Scotland Plc - have been mandated on the basis of a non-binding but mutually agreed term sheet, having undertaken initial due diligence of Project documents.

Once approved the Stage 2 financing is expected to comprise of aggregate senior debt facilities of up to US$2.6 billion (the "Facilities") to fund the Stage 2 capital funding requirement and costs relating to financing the Project. Financial close for the Facilities is expected to take place in 2018.

The Company expects the Facilities to be provided from a group of commercial banks, Export Credit Agencies ("ECAs") and other financing institutions (including the MLAs) with a component receiving the benefit of a HMT Guarantee to be provided under the UK Guarantee Scheme ("UKGS"). The MLAs will seek to arrange the Facilities and have indicated that they will fund up to US$700 million in aggregate of the Facilities. The initial marketing conducted by the Company indicated that further funds will be available above and beyond the amounts indicated by the MLAs.

The Infrastructure and Projects Authority ("IPA"), which was established in January 2016 by merging the Major Projects Authority with Infrastructure UK, and reports jointly to both HM Treasury ("HMT") and the Cabinet Office, has already prequalified the Project for consideration for a HMT Guarantee (announced 22 September 2015). IPA has discussed the Stage 2 financing plan with the Company and confirmed its interest in supporting the Stage 2 financing for the Project.

The appointment of the MLAs does not constitute an offer of financing or an underwritten commitment by the MLAs to provide financing. The MLAs' appointment is subject to market standard conditions including due diligence, credit and other business approvals, and execution of legal documentation acceptable to the MLAs. Similarly, IPA's prequalification does not constitute an offer of financing or an underwriting commitment. IPA requires its normal processes to be undertaken in addition to due diligence, such as satisfaction of conditions, HM Treasury credit process, risk committee, credit committee and ultimately Ministerial approval.

The Company intends to progress the Stage 2 financing, with the MLAs and IPA commencing detailed due diligence, following the successful completion of the Stage 1 financing. The Company continues to progress the Stage 1 financing and is in active discussion with a number of parties undertaking due diligence. The details of the Stage 1 capital structure and timing will be subject to further announcement at an appropriate time.

Chris Fraser Managing Director and CEO said:

"The Stage 2 senior debt financing is a major component of the total financing plan for the development of the Company's North Yorkshire polyhalite project. The progress to date provides a strong foundation of support for the Company to further expand on over the next two years to complete the full financing of a development that can generate so many positive economic benefits to the region and country as a whole.

"The Company is now focussed on the finalisation of the Stage 1 financing to enable construction to commence as soon as possible. This positive step on the senior debt financing should provide Stage 1 investors with greater clarity and confidence on the total financing of our world class fertilizer business."

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.

Are you tempted to cash in and wait for a bigger dip skinny? ......or looking at the bigger picture?

sold @ 39. 37 today more money wanted @ 35p will buy back in @ 30p ? BB

I'll hold these Harry - as I said, its not a massive holding and I'm busy elsewhere atm.

LLOY & REDD worthy of a look today.

Sirius Minerals makes funding progress

looking cheap right now

gla
http://www.telegraph.co.uk/business/2016/09/01/sirius-minerals-inches-closer-to-fertiliser-mine-in-north-york-m/

Will be cheaper, imo.

Had a small S/B today - now closed - another large volume day.

here we go - new 75p buy rating today
http://www.proactiveinvestors.co.uk/companies/stocktube/5527/sirius-minerals-making-impressive-progress-says-investec-s-wrathall-5527.html

A new upward move for Sirius Minerals?

Top riser in the market.

A bit oversold, but 30 was a logical support level. I saw figures somewhere that suggests exports when and if all comes to fruition of £2 billion annually. - something like 7% of annual exports.

Can Sirius Minerals see a fresh rally back to 50p highs?
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11:31 28 Sep 2016
Chart guru Zak Mir reckons it is a real possibility, and says 35p is the trigger for new buyers to watch out for.
POLY4, the polyhalite product that will be made from the the new mine in North Yorkshire.
Polyhalite helps increase yields for crops, now is Sirius ready to grow its share price again?
Sirius Minerals PLC’s (LON:SXX) valuation pushed above £1bn this summer as the British mine developer advanced to around 50p per share; it has since fallen back to the 30p level, but could a fresh rally be on the way?

Chart guru Zak Mir reckons it is a real possibility, and he says a ‘buy’ trigger of 35p is what traders should be looking out for.

If this trigger occurs the popular resource stock could again rally higher to ‘re-test’ the 50p per share level, he says. The rally would likely happen in the two months following the trigger, Mir added.

WATCH: Zak’s analysis right now

Sirius Minerals is currently working on the project financing for its world-class fertiliser asset in Yorkshire, where earlier this year it hit major milestones by securing planning permission approval for the project.

In early September Sirius confirmed that the window for all appeals against the company’s giant fertiliser mine had slammed shut.

It follows the closure of the judicial review period for the mine’s proposed harbour facility on Teesside.

“As a result of this, all key planning and development consent approvals for the company's North Yorkshire Polyhalite Project have therefore been received and all related judicial review periods have expired without any objections being tabled,” Sirius said in short stock exchange statement.

Now, the focus will turn to actually building a mine that will, initially, churn out 10mln tonnes of this nutrient-rich polyhalite material to be transported 23 miles underground to the shipping site mentioned above.

The cost of the initial development is put at £833mln (US$1.09bn) to get the company producing its first exports by 2021.

There is the potential then to double capacity for a similar cost.

The project financing will come from the debt market, although investors may have to dig in their pockets one last time for the initial phase of the mine development.

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