Looks good though! All MAM closing prices appear to be wrong.

Never mind this should make us feel better.

By Peter Stephens | Tuesday, 21st November, 2017


Why Sirius Minerals plc is a growth bargain I’d buy and hold for 25 years


The time horizon of investors varies significantly. However, one thing which many appear to share is an impatience to generate profit from their investments. This is understandable, since it can be hugely frustrating when a stock price fails to rise as much as had been expected at the outset. Worse still, a falling share price and paper losses can lead to even more disappointment.

However, patience in underperforming shares can be significantly rewarded in the long run. One stock which could be a prime example of this is Sirius Minerals (LSE: SXX). The mining company has disappointed in recent months and is down almost 10% in the last six months. However, in the long run the company could deliver high returns.

Slow and steady progress
This year has seen Sirius Minerals make rather ‘slow and steady’ progress. Its operations have moved forward as anticipated, with the company’s Woodsmith Mine developing as expected. There have been offtake agreements signed as the business builds up its marketing capabilities ahead of first production in just under four years’ time. And with crop studies showing that the company’s polyhalite fertiliser could potentially perform better than other options, the Sirius outlook has remained positive throughout the year.

Risks
However, market sentiment has been downbeat of late and it seems that some investors are still unsure about the level of risk the company faces. For example, the project is still in its early days, and there are various risks which could lead to higher costs and/or delays to the first production start date. Furthermore, there is a lack of certainty on the company’s future success at marketing the product, nor is there complete clarity on pricing.

Returns
Despite these risks, Sirius Minerals seems to have high return potential. Further offtake agreements could be signed over the next few years which could help to build investor confidence in its outlook. Progress on further financing initiatives may also help to generate improving investor sentiment. And if the company’s project can remain on track, its forecasts for production volumes and profitability in future years may seem to be more realistic. This could lead to a higher share price in the long run, which is why the company could be worth holding for a sustained period of time.

StockMarketWire.com
Sirius Minerals said its Woodsmith mine project in North Yorkshire remained on track to deliver first polyhalite and commercial production on time and on budget.

Current diaphragm walling activities are about two months behind schedule following some delays commissioning equipment and adverse weather conditions.

The company, however, said it was confident the "small loss of time" would be recovered over the remainder of the project schedule.

Sirius said it was continuing negotiations with a number of potential customers in multiple regions.

Activities relating to the stage two financing process of the project would gather momentum as the coming year unfolds, it added.

SXX off to china with T May:

https://news.sky.com/story/downing-street-races-to-clinch-deals-ahead-of-mays-china-visit-11222951

Given a buy recommendation in this week's I.C.

Sirius signs shaft sinking contract with DMC Mining Services

Improved shaft sinking methodology opens opportunities to accelerate first polyhalite by up to six months

§ Design and build contract for the construction of all shafts has been entered into with DMC

§ Proven SBR systems to be used for the construction of the deep shafts for Sirius

§ DMC incentivised for early completion vs existing target price and schedule guidance



Sirius Minerals Plc ("Sirius" or the "Company") announce that it has entered into a design and build contract with DMC Mining Services UK Ltd and DMC Mining Services Ltd, both subsidiaries of KGHM Polska Miedz SA ("KGHM"), for the construction of the four shafts required for its polyhalite project in North Yorkshire. DMC Mining Services ("DMC") is one of the world's leading shaft sinking and mining contractors.

Sirius has been in extended discussions with AMC UK Ltd ("AMC") in respect of finalising the shaft sinking contract following the "notice of award" in July 2017 which anticipated execution of a finalised contract shortly afterwards. Due to protracted discussions with AMC regarding commercial arrangements Sirius engaged with DMC and other shaft sinking companies in parallel to consider alternatives.

Through this process, it has become clear that DMC, with their extensive and proven shaft sinking experience, are a strong construction partner for Sirius and will bring technical opportunities and a commercial partnership that can unlock potential savings in the construction schedule. Sirius has therefore entered into a design and build contract with DMC and has terminated ongoing arrangements it had for the shafts with AMC.

more.....

This may well be the key to prodding on the price. There have been several encouraging recommendations of late, but so far not much movement.

i recollect that this deposit may still be some 2 years away from full (profitable) production

Quite, but the price has certainly languished from its highs , and the financial support looks to be well in place.Plenty of orders also coming in.

Back above the 200ma, but starting to look over bought.

From the I C

The Sirius story has been long in the telling, and because first production isn’t expected until the end of 2021, the investment case will concern the Woodsmith mine’s development for some time yet. But investors now have a clear roadmap. This year, Sirius should complete the preparation of the site and mineshafts, sign a contract with AMC to sink the shafts 1,520m beneath the surface, and agree up to $2.6bn of debt financing.

That package, which follows the £370m equity fundraising at 20p in late 2016, will provide the cash to build the underground mine and transport system, and design and construct a handling facility 37km away at Wilton, Teeside, and a port at nearby Bran Sands. If all goes well, Woodsmith will produce 10mtpa (million tonnes per year) of polyhalite by 2023, and double that by 2026.

Critically, this epic job is now underwritten by a customer base for Sirius’s POLY4 product, a multi-nutrient crop fertiliser with growing acceptance among agronomy experts and farmers alike. At the time of writing, Sirius had signed seven long-term off-take agreements with agricultural groups in North America, China and south-east Asia, at an average sales price of $145 a tonne.

These deals, equivalent to 4.5mt of annual output, are supplemented by 3.4mtpa of loosely-defined “other commitments”, although Sirius has previously said 6-7mtpa of formal agreements will need to be signed for the debt financing green light. Accordingly, successful completion of ongoing negotiations “with a variety of potential customers in multiple regions” are the most likely source of a stock re-rating in 2018. Comments from JPMorgan analysts that “lender due diligence…is already under way” should supplement confidence.

Equally, prospective investors can take heart from the subscriptions of senior management: chairman Russell Scrimshaw coughed up £511,000 in the 2016 fundraising to keep his holding at 1 per cent, while chief executive Chris Fraser has a £28.5m stake in the FTSE 250 outfit. And according to broker WH Ireland, institutional investors who participated in the placing regularly top up their holdings on any weakness in the stock, providing a useful floor to the share price.

Notice of Full Year 2017 Results

Sirius Minerals Plc (the "Company"), the leading fertilizer development company focused on the development and operation of its polyhalite project in North Yorkshire, confirms that it will announce its full year results for the twelve month period ended 31 December 2017 on Tuesday 6 March 2018 at 7:00am (GMT).

Management will host a conference call for investors and analysts at 9.30am (GMT) on Tuesday 6 March 2018, including a question and answer session. Details of the call will be included in the results announcement.

current cap = £1.25bn
cash call due this year for £2.1bn

source = ST page 2 Biz

97.5% certain i shall take up any rights offered

Full Year 2017 Results

2017 Preliminary results announcement

A year of substantial progress for the world's leading polyhalite company

Sirius Minerals Plc ("Sirius" or the "Company") announces the results for Sirius and its subsidiaries ("the Group") for the year ended 31 December 2017.

Sirius Minerals Plc CEO Chris Fraser commented:

"Our world class project based in North Yorkshire has the potential to disrupt the global fertilizer market and contribute substantially to the UK economy.

We achieved a number of important performance milestones in 2017, with commencement of construction, incremental supply agreements signed, bringing the total to 4.4 million tonnes per annum, a move to the London Stock Exchanges's Main Market and inclusion in the FTSE250 amongst the highlights.

We continue to innovate and work hard on all aspects of our project to secure value for shareholders and are focused on ensuring 2018 will be another year of significant progress on all fronts, as demonstrated by our recent shaft sinking contract."

Business highlights

Construction

· Enablement works completed for the Woodsmith Mine and the formal commencement of development notice was issued by the local planning authority.

· Site preparation and establishment works at the Woodsmith Mine site and Lockwood Beck complete.

· Optimisation of shaft construction and design has resulted in a simpler design and construction methodology and reduced surface footprint.

· Shaft sinking activities commenced, diaphragm walling activities are progressing smoothly with three rigs operating on the service shaft foreshaft.

Sales and Marketing

· Expanded breadth and depth of global agronomy programme, the Company has initiated 80 new agronomy trials. The overall programme now encompasses over 260 trials on 32 crops in 17 different countries, demonstrating POLY4 delivers greater nutrient uptake and increases both yield and quality.

· Binding take-or-pay supply agreement signed with Wilmar International, one of the largest and most established fertilizer buyers and distributors in South East Asia, for the use and resale of POLY4 exclusively in South East Asia.

Corporate and commercial

· The Company secured admission to trading on the London Stock Exchange ("LSE") Main Market with a Premium Listing and inclusion in the FTSE 250 index.

· More than doubled the number of employees and established new Corporate Headquarters in North Yorkshire as we ramp up construction and development.

Financial Highlights

· Cash resources at the end of December 2017 were £468.5 million, comprising bank deposits and cash equivalents of £394.0 million and restricted cash of £74.5 million compared to £665.3 million at the end of December 2016.

· Due to IFRS fair valuation requirements relating to elements of the stage 1 financing, the 22% increase in the Company's share price over the course of the year has caused a total loss of £78.9m being recorded for the year. The fair valuation adjustments driving the loss are non-cash in nature. Further detail relating to the fair valuation adjustments can be found within the financial review.

· Total funds deployed in developing the project during 2017 before financing costs were £197.3 million.

Safety

Safety is paramount to the success of our business. Our culture places safety at the forefront of everything we do and we are continuously engaged with our contractors and consultants to ensure they adopt our safety culture and company values. Two recordable incidents have occurred during the first year of construction and we are constantly working to improve our processes and find safer ways of working in order to ensure that we all return home to our families at the end of the day.


Outlook for 2018

2017 was a year of meaningful progress on the ground in North Yorkshire and in the global fertilizer markets. 2018 will be another year of significant progress on all fronts, ultimately culminating in the successful completion of the stage 2 financing.

Construction

· Complete main service shaft foreshaft construction and excavation.

· Complete the installation of the main production shaft foreshaft and commence foreshaft excavation.

· Commence Mineral Transport System (MTS) access shaft construction at the Woodsmith Mine site.

· Largely complete construction of MTS portal at Wilton.

· Commence shaft sinking at Lockwood Beck intermediate shaft site.

· Commence early works for the Materials Handling Facility.

· Finalise Harbour facility strategy and complete procurement.

R&D, sales & marketing

· Expand global agronomy programme and establish 80 new trials.

· Execute 2 Mtpa incremental supply agreements.

Corporate & commercial

· Substantially complete project procurement.

· Draw down the stage 1 financing royalty instrument.

· Execute stage 2 financing.

Post-balance sheet events
On 14 February 2018 we announced that we have entered into a design and build contract with one of the world's leading shaft sinking and mining contractors, the Canadian headquartered, DMC Mining Services (DMC), for the construction of the four shafts required for our polyhalite project in North Yorkshire. DMC will utilise proven shaft boring roadheader (SBR) technology to sink the main shafts at the Woodsmith Mine site. Adopting the SBR opens opportunities to accelerate first polyhalite production by up to six months.

more.....

Quarterly progress update

§ The project remains on track to deliver first polyhalite and commercial production on time and on budget

§ Tunnelling contract signed with STRABAG for drive 1 of the Mineral Transport System from Wilton to Lockwood Beck

§ Shaft sinking contract signed with DMC and the contractor handover process is largely complete

§ Opportunities to accelerate the production of first polyhalite by up to six months are being progressed with DMC

§ Production shaft bore hole intersected a total of 53m of polyhalite and demonstrated consistency with previous holes


more.....

Quarterly progress update

Quarterly progress update

§ The project remains on track to deliver first polyhalite and commercial production on time and on budget

§ Tunnelling contract signed with STRABAG for drive 1 of the Mineral Transport System from Wilton to Lockwood Beck

§ Shaft sinking contract signed with DMC and the contractor handover process is largely complete

§ Opportunities to accelerate the production of first polyhalite by up to six months are being progressed with DMC

§ Production shaft bore hole intersected a total of 53m of polyhalite and demonstrated consistency with previous holes.

more.....

Two updates...... remarkably similar 😉
I'm just annoyed that the sp left without me!

One of my favorites this one is.

Any news to explain todays' fall ?

2p is not exactly a big deal, and the share has had a good run of late