Sirius Minerals progressing well and still worth double
By David Brenchley | Thu, 29th June 2017 - 17:13

Sirius Minerals progressing well and still worth double
Potash miner Sirius Minerals (SXX) continues to keep investors abreast of progress at its flagship North Yorkshire potash project, which it says "remains on time and on budget". And, despite a hiccup Thursday, experts tip the share price to go much better.

Last time we heard from Sirius, the advice was "buy, buy, buy", with three analysts who cover the stock calling it up to 60p. Well, it's half-way there, even after a fall of as much as 5% Thursday.

Sirius says it's still looking at ways to speed up spend on components of the shaft and tunnel and shorten the project schedule. Options to bring tunnelling activities forward are being discussed with its contractor.

"It has been a productive quarter with timely progress made on site preparation works in advance of shaft sinking commencing in quarter three," said Chris Fraser, managing director and chief executive.



At a capital markets day last month, broker WH Ireland noted that Sirius has "hit the ground running", having "wasted no time… bringing the project into reality". Analyst Paul Smith concluded he was "very encouraged by what we saw and heard" from management.

Elsewhere, the firm is now focusing on a second round of financing, having secured its place in the FTSE 250 index (MCX). The extra funding will help with completion of the mine, with first production due to begin in 2021 and first cash flow due in 2022.

Broker Shore Capital reckons that, after this stage two debt commitment, Sirius's risked net present value will be in a range of 65p-82.5p.

"While Sirius is currently at development stage and still some years from becoming a cash flow-generating company, an investment in Sirius should become progressively de-risked and enjoy significant value uplift as it advances towards production," ShoreCap added.

30.18p -1.28p -4.06% after reaching an intraday low of 29p

You theory has gone through the floor >>>> David Brenchley

You should know that being on the way down should test the 50 days MA, before any bounce ( maybe small )
----------------
important accord .........
Exclusive: Chinese company confirms huge UK fertilizer deal - MAY 17, 2017
http://www.reuters.com/article/us-mining-sirius-exclusive/exclusive-chinese-company-confirms-huge-uk-fertilizer-deal-idUSKCN18D0UN

Liberum Capital Buy 29.90 60.00 60.00 Reiterates

My comment yesterday somewhere else, but already this morning has reached the 26p or 50% retrace.

xxxx- 3 Jul '17 - 13:02
SXX 28.73p - 1.61p

Hold to 50 day MA 29p last Friday on the way down, but further downturn today

My finger keeps hovering over the 'buy' button, then I think I had better not......for now!

You have missed the 26p then and it lasted for a long time, able to buy below that price

It always bounce from crucial points. Its the bolt itself that goes to this sharp movements

Well, yes I did but I have bought now at 27.185; I have a long term holding but I will probably trade the latest purchase.

Intraday bounce but still think there is further downside to come.

There will be now!😃

Re - further downside

Someone tries to deramp? kimo

it looks like someone wants to top up cheap

It usually happens that, when I buy, the sp goes down and vise versa when I sell!😃 Did a quick trade just now for a little cash and a few shares. Sp could go anywhere now!!

No ramping at all. I genuinely believe that the sp will go down further. There is quite a lot of international bad news hitting the press at the moment, USA is on holiday today, the summer season of weak trading volumes when many dealers go on holiday, combined with little news flow from SXX to boost the sp.
I agree that 26p is a good level to buy a stake, but wouldn't be surprised to see 24p at some time over the next month or two.

re - Sp could go anywhere

but up you mean, almost yesterday's close just now AT at 28.25p

re - but wouldn't be surprised to see 24p at some time over the next month or two.

Some said I could be dead tomorrow, mind you looking so far ahead, many cycles go on in this space of time.

and now over yesterday's close at 28.61p

note - talk is cheap and then covering their arses with next comment ....over the next month or two.

"Intraday bounce but still think there is further downside to come."

Couldn't resist another little flutter on the rise. Long term, no matter what in between, this surely has to be a share for keeping. It could still all go t*ts up of course, nothing in the world of finance and commerce is certain anymore. I remember the 'good old days' when Rolls Royce car shares were considered blue chip and a must for any portfolio, I think the shock waves from when they collapsed still resonate today!

UP to 30.50p today

Added a few more yesterday @ 28 that it now Av about 20.5 put away and wait for the divi.

Has gone over 31p this morning

Still here, haven't sold any just adding a few on the dips, holding on to these.