Think I will wait awhile. Sp should drift imo, until the next news is expected. This is a very long term play as an investment, so the traders have probably got the best strategy.

Quite happy to continue holding for the long haul and possibly add.

Good Volume today.

You wait if you want, I am in since the starting of the bounce

Of course, but you are a day trader, I am not.

It looks like we are on the UP again

re - day trader

you must be reading me on the wrong way
1 day not for sure, a few days maybe, specially now that I am going on Holidays

Link copied -

where are we going from here?

from another place ......

"For those new to SXX, and those who I've seen mentioning financing as a concern, I suggest you do a little research into our BoD. We have the expertise of Chris Catlow to hand. He's walked this road before in bringing Fortescue Minerals from a similar stage to a major player.
He's got great links globally and knows how to raise big money - just what we'll be doing. It's no coincidence he's on the board of directors. Our BoD has brought us to this point and will also take us through the financing in a similar fashion."

SXX win for the PP great news.

However we all know that the financing of such a large project will not happen in the near future IMO. It will take time to raise formal investment and detail then Project plans.

The SP will have a few rallies and T itself up for a great shorting potential in the meantime. The fast cleaver money will either short SXX or be put to proactive use elsewhere.

IMO
DYOR
HAb

H A

re - The fast cleaver money

It looks like you are talking about yourself, just be more forward and say so.

From II - How Sirius Minerals could double

Stronger today on a down market

Status update following key approvals

§ Approvals close out work ongoing during government call-in window
§ Final decision notices for key approvals expected by end of September 2015
§ DFS being finalised with input from approvals and key contract tenders
§ DFS results expected to be published during Q4 2015
§ Financing to focus principally on debt provision, split into two stages
§ Stage one financing expected to be completed by end of Q1 2016
§ Good progress continuing to be made on polyhalite sales to support financings

more.....

Financing strategy and timing

The Company has always maintained that the Project will require multiple financings and these will be carried out when required, when opportunities present themselves and always with the best value to shareholders in mind. The stated and ongoing strategy is to access debt markets for the majority of the Project construction because the underlying economics of the Project business model lend themselves to high leverage and because that should be in the best long term interests of shareholders. Similarly, significant investment partners would need to be aligned to the long term strategy of the Company - to construct the Project and become a major supplier of multi-nutrient fertilizer products, outside of the existing supply structure.

The Company currently intends to split the financing of the project into two stages. Stage one will focus on the initial construction period where the perceived risks are higher. This is likely to take the form of a mixture of development equity, including cornerstone investors, and structured debt. This financing would advance the construction of the Project to a point where construction risk (primarily tunnelling and shaft excavation) is reduced and lower cost sources of debt are available.

The Company has been working with advisers since January 2015 to arrange structured debt capital for the stage one financing. A number of cornerstone debt investors are ready to commence due diligence and the financing is expected to conclude during Q1 2016.

Stage two financing will account for the majority of the financing requirement of the development. The Company's aim is for this stage to be 100% debt based. Advisers were engaged in early 2015 to advise on structuring and arranging senior debt for this phase, which could ultimately be secured from either the bank or debt capital markets or from a combination of both.

At the same time, other initiatives are being explored to support the phase two financing. Government backed credit agencies can provide valuable liquidity for the stage two financing and dialogue is ongoing with Infrastructure UK and with various export credit agencies from around the world. Aspects of the Project are also well suited to lease finance and discussions with equipment providers and infrastructure developers are under way.

The underlying ethos of the Company's financing strategy is that any transactions needed to complete construction of the Project are ultimately stepping stones to the long-term capital structure. Once material cashflows from the Project commence the Company can put in place a low-cost long term capital structure. This will then allow dividends and increased value to be returned to shareholders.

Good RNS from SXX, but shares are now dead money until Sept and DFS in Q4 2015. Am expecting slow decline in SP in between hand as proactive money moves elsewhere for time being.

A key factor will be debt and project financing for the Project; again to be published end of 2015 or into Q1- 2016.

No doubt great potential for 2016 onwards investors, but I have now taken profits. Will monitor and review once SP has bottomed out.

IMO
DYOR
HAb

I agree HA. My earier post "Think I will wait awhile" not so daft after all.....though derided by some!!! (well, one actually)!

From yesterday's Sunday Telegraph

By Andrew Critchlow7:53PM BST 11 Jul 2015 Comments17 Comments
Sirius Minerals has appointed two investment banks to begin preparations for a £2bn fundraising to build the UK’s largest operating mine in North Yorkshire.
Sirius plans to raise the financing for its controversial proposed potash mine in the North York Moors National Park in two phases over the next 18 months as it steps up efforts to market the fertiliser that will be eventually produced for overseas customers.
The move comes weeks after Sirius won approval from the park authority to move ahead with the scheme near Whitby.
Moelis is advising the company on the first phase of the financing which aims to raise around £650m mainly through a mixture of development equity and structured debt.
Sirius has said that a number of cornerstone investors are already doing due diligence on the scheme following its success in gaining approval to proceed.
“Our plan is to have the first phase of financing in place by the end of the final quarter of next year,” said Chris Fraser, Sirius Minerals chief executive.
The remaining £1.3bn of the financing will come in the lower-risk second phase by which time major tunnelling works are expected to have been completed.
SocGen has been lead adviser to Sirius on this phase of the project, which may change subject to the completion of a detailed feasibility study on the scope of the project, which is due to be completed by next year. It is thought the French bank could also participate in this stage of the financing.
The mine will cost around £1.5bn to build and is expected to produce something in the region of 13m tons per year of polyhalite, a type of potash used as fertiliser.
Once complete, the mine will make York Portash – a subsidiary of Sirius – one of the world’s biggest producers of the mineral.
• Ian McVeigh: Sirius mine decision highlights need for Government to take planning lead
Mr Fraser said that the company has already received approaches from government-backed export credit agencies hoping to support equipment suppliers to the project, and has held talks with Infrastructure UK to back the scheme, which will bring thousands of jobs to the region.
Sirius estimates that the mine will boost the economy of North Yorkshire by up to 10pc and generate around £1.2bn per year in export revenue for the British economy.
In order to minimise the environmental impact of the mine, Sirius plans to excavate a 23-mile long tunnel that will link the project’s main site near the village of Seamer with the port at the Wilton petrochemicals site on Teesside.
A major test for the scheme will be to secure more deals for the polyhalite, which is largely untested in the fertiliser market. The resource contains a lower quantity of potassium than conventional potash.
“We already have various levels of commitments from customers,” said Mr Fraser.

Also in yesterday's Telegraph

By Ian McVeigh5:00PM BST 11 Jul 2015Comments5 Comments
From the moment the Davies report recommending the expansion of Heathrow landed on the PM’s desk, the issue of planning was set to take centre stage.
One of the great trends of modern business has been outsourcing. Less discussed has been the tendency of successive governments to outsource the business of governing. Nowhere is this more visible than in the planning process.
With this in mind, three cheers for the brave members of the North York Moors National Park Planning Authority who voted 8-7 in favour of the decision to allow mining group Sirius Minerals to develop a facility to mine potash under the moors.
The question is, should they have ever been landed with a decision of such national importance, with the Government almost nowhere to be seen?
Their CVs, on the authority website, don’t tell us how long they have been on the committee and so one can only wonder whether, when they signed up, they realised they would be deciding on a highly technical $2.5bn (£1.6bn) project with a mine life of over 50 years, rather than extensions to the car parking at Castle Howard.
A number of our funds have been holding Sirius Mining since 2011. We, along with others, subscribed to the many rounds of funding since the project started. Certainly we can’t be accused of short-termism. The project is unlikely to show an operating profit until 2019 and the £130m raised to date is but a fraction of what will be needed.
The potential benefits are substantial. The polyhalite Sirius will mine produces the raw material for high-grade natural fertiliser in a world facing an increasing shortage of arable land. The Food and Agriculture Organisation of the UN estimates that between 1970 and 2050 the amount of arable land per head of the world’s population will have decreased 60pc, reflecting population growth.
Tests prove that, across a wide range of crops including tea in China, polyhalite can increase yields by 10pc to 20pc.

SXX now have a 'cunning plan' to develop the North Yorkshire Potash mine. But although they have given an approx time frame of 18 mths for the project mineral production, the two stage debt financing will not compete DD until in Q1 2016, after which the high risk / high debt cost phase of tunnelling and shaft penetration will start. How long will it take to dig a 23 mile tunnel and optimise production?

Given that the long term financings of the project will be on a revenue base which are expected to show profit in 2019, how will SXX lower quality potash product compete in an untested market?

Difficult to predict near term forward SP, but expect there will be much surfing to be done as RNS milestones cheer PIs.

I remain a supporter of the SXX project and intend to buy back in once the project finance is agreed.

IMO
DYOR
HAb

I think the main point of the second article, above, is a major key here to what is to follow. That is of course more government support and involvement in projects of this nature. It is important to get that backing and not leave these decisions just to local councillors.

Approvals update

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") provide a procedural update on the approvals process for the York Potash Project ("the Project").

The Company has been notified by the relevant local authorities that Secretary of State for Communities and Local Government has chosen not to 'call-in' the Project planning applications. As a result, there will be no need for a public inquiry into the applications.

The local planning authorities can proceed with finalising the remaining issues (as detailed in the announcement of 10 July 2015) and therefore have no other barrier to issuing the decisions notices, following previous positive resolutions to grant by each authority.

The decisions are for the mine and mineral transport system applications to both the North York Moors National Park Authority and Redcar and Cleveland Borough Council ("RCBC"), for the materials handling facility from RCBC, and for the temporary construction accommodation and a park and ride facility from Scarborough Borough Council.