• Watchlist/Portfolio

    Add to watchlist:

    Only registered members can add into watchlist !

    Register here !
Advertisement

Sirius Minerals Plc is a potash development company listed on the London Stock Exchange’s AIM market.Primarily focused on the development of the world’s largest and highest-grade Polyhalite deposit in the United Kingdom, the York Potash Project. Committed to developing a portfolio of projects and continue to review opportunities around the globe.

Website:
http://www.siriusminerals.com/
Phone:
+44 (0)845 524 0247
Address:
3rd Floor Greener House, 68 Haymarket, London SW1Y 4RF.
Super Sector:
General Mining - Potash and Phosphate
Sector:
Mining
Industry:
General Mining
EPIC / Symbols:
LON:SXX
chart-size
*subject to change and depends on individual circumstances.

Sirius Minerals RNS Press Releases

rss
  • Page 1 of 73

Sirius Minerals Articles, News, and Media Files

rss
  • Page 1 of 13

Sirius Minerals Related Media

rss
  • Page 1 of 6

Broker press

  • Page 1 of 7
  • 13/08/13
    +1.50 +14.75

    Citigroup reiterates its "buy" rating but cut its price target to 60p from 80p.

  • 13/08/13
    +0.13 +13.38

    Press: Telegraph The group said an unnamed New York-based institutional investor had agreed to provide GBP25m funding via convertible notes,... read more

  • 07/08/13

    Press: 07.08.13: -0.50, (14.50) Press: Telegraph Shares fell after the company's former broker Jefferies said there were "major funding... read more

  • 06/08/13

    06.08.13 :-1.5, (15) Jefferies downgrades its rating to "underperform" from "buy" and cut its price target to 9p from 30p.

  • 19/07/13

    Press: 19.07.13: -2.50, (20.00) Press: Telegraph The company has asked officials to delay their decision on its mine planned for the North... read more

Director dealings

  • Page 1 of 2
Date Director Trans Amount Type Price(p) Value (£) Holding %
01/09/14 R.J. Scrimshaw BUY 2,100,000 ORD 11.75 246,750 39,419,218 2.10
18/08/14 C.N. Fraser BUY 342,000 ORD 11.66 39,877 122,628,314 6.54
30/05/14 J.H. Murray EX 900,000 OPT 0.00 0 3,825,714 0.21
15/04/13 R.J. Scrimshaw BUY 3,263,664 ORD 21.49 701,361 35,652,552 2.65
04/05/12 C.N. Fraser BUY 500,000 ORD 18.48 92,400 114,500,750 8.60

BASIC RESULTS INFORMATION

  • Page 1 of 4
Date Type Turnover Profit EPS (p) Dividend (p) Currency
31/03/14 Full year 0.00 -10.13 -0.50 0.00 GBX
30/09/13 Interim 0.00 -8.46 -0.50 0.00 GBX
31/03/13 Full year 0.00 -14.57 -0.60 0.00 GBX
30/09/12 Interim 0.00 -6.36 -0.50 0.00 GBX
31/03/12 Full year 0.00 -63.11 -5.60 0.00 GBX

Company Statement

 

Our Company

Sirius Minerals Plc is a globally diversified potash development company listed on the London stock exchange's AIM Market

 

  • Primarily focused on the development of the world's largest and highest-grade Polyhalite deposit in the United Kingdom, the York Potash Project
  • Commited to developing a portfolio of projects and continue to review opportunities around the globe.

Our Vision
To become the leading global potasdh producer.

Large scale:
Target of becoming a top five producer

Low cost:
Operations have the potential to be at the bottom of the cost curve for key markets

Long life:
Assets with a resource life of over 50 years

High growth:
Expandable assests and portfolio of new projects

Independent and customer aligned:
Engage directly with customers and align the company and assets with major customers

Current Operations

York Potash

 

Based in North Yorkshire, within the United Kingdom, The York Potash Project is Sirius Minerals' flagship development asset. The project targets the production of polyhalite, a multi-nutrient mineral containing four of the six macro-nutrients required for plant growth (potassium, sulphur, magnesium and calcium). The initial development for the Project will target multiple routes to market including production of large-scale granulated polyhalite as a direct application fertilizer and as a main source of potassium for the production of nitrogen, phosphorus and potassium fertilizers (NPK). The project will have significant expansion capacity beyond initial development with options to produce Sulphate of Potash (SOP) from the polyhalite ore at a later stage. In addition to polyhalite, York Potash has vast quantities of Sylvite, a source of Muriate of Potash (MOP). The immediate focus for the Project is on the development of the polyhalite resource.

The York Potash Project asset is the largest and highest grade polyhalite resource in the world, laying the foundation for Sirius to become a leading global large scale potash and multi-nutrient producer.

 

The Mine

The proposed mine is at the centre of high quality concentration of the polyhalite ore deposit as defined by our drilling program, with all infrastructure designed to have minimal environmental impact. In addition, the site has existing main road access for construction and operations. The Company submitted the mine planning application in January 2013. On 18 July 2013 the Company requested a deferral to the determination of its mine application by the NYMNPA following the publication of a number of reports by the Authority's consultants.  Refer below for an update on the planning process.

The mine access and related surface infrastructure will be located approximately four kilometres south from the outskirts of Whitby on the B1416. The site currently comprises a farm and commercial forestry block, and already benefits from extensive woodland screening and access to the main A171 road.

 

Mine and Shaft Design

Sirius is undertaking a design that offers a low visual impact, reduces time to production and is also cost effective.

 

  • Twin vertical shafts to a depth of around 1,500 metres below surface
  • Hoisting system below surface to reduce surface impact
  • Initial hoisting capacity of 12mtpa of ore

 

 

Transport System

The UK has an extensive history of buried pipelines due to being an environmentally and economically viable alternative to other transport systems.

 

The projects pipeline will consist of:

 

  • Buried pipelines carrying the polyhalite ore as suspended particles in water
  • Approximately 44.5km’s to Teesside - the preferred processing and port site
  • Capacity for up to 15mtpa of polyhalite

 

This solution will give the project very low operating cost whilst minimising any environmental impact once installed.

 

Processing

The vast majority of the processing of the polyhalite will occur at the port at Teesside. When the ore arrives it will be dewatered, dried and then granulated either by addition of a binder or by compaction.  Working with GBM, laboratory test work has been conducted to confirm each process step and measure key parameters. 

Following processing, the granulated polyhalite will be transferred by conveyor to a covered portside storage facility. Port infrastructure will include a ship loader and jetty capable of handling bulk carrier vessels.

 

Planning Update

Additional information for the mine application will be submitted for determination by the NYMNPA in July 2014 once further work has been carried out to enable a full cumulative assessment of the mine with the other areas of the Project.  The submission of applications for the remaining three project areas to the appropriate authorities will follow shortly thereafter. The revised approach better reflects the wishes of a number of the decision making authorities and key statutory consultees.  

The Company has placed an indicative schedule of submissions on the 'key planning documents' page of its Project website (www.yorkpotash.co.uk).  Over the coming months it will engage in a series of meetings and discussions with the NYMNPA and other key statutory stakeholders and decision making bodies, as is a normal part of the planning process.  It intends to publish some related documents on its website, such as monthly progress reports and meeting minutes to ensure transparency.

 

For more information pleasse click here

 

North Dakota - Williston Basin

Following a drilling program in 2010, Sirius made the decision to evaluate an expanded exploration area for additional, viable minerals targets. Sirius, in conjunction with its partners North Rim Exploration and Boyd PetroSearch, completed two regional studies: one for additional Sylvinite targets and the other for Carnallite within the North Dakota portion of the Williston Basin.

 

Due to the focus on York Potash, no further work is planned in the near future in North Dakota.

 

The North Dakota Geological Survey plans on releasing its regional potash assessment report sometime in 2013.

Management

Directors

Mr. Russell Scrimshaw, Chairman

Russell Scrimshaw was formerly an Executive Director of Fortescue Metals Group Ltd (FMG) and was a member of the FMG Board from 2003 until 2011.

Previously Russell Scrimshaw was a board member of Commonwealth Properties Ltd, EDS Australia, Mobilesoft Ltd, Telecom New Zealand Australia Pty Ltd, The Garvan Institute Foundation and Athletics Australia and has also held senior executive positions within the Commonwealth Bank of Australia, Optus Communications Pty Ltd, Alcatel, IBM and Amdahl USA

Mr. Chris Fraser, Managing Director and CEO

Chris Fraser has approximately 16 years' finance experience in the mining industry. During this time he worked for Citigroup, Rothschild and KPMG and has market leading expertise in all aspects of the financing and development of major mining projects.

Having joined Citigroup in 2000, Chris Fraser was appointed Head of Metals and Mining Investment Banking for Australia in 2006 and Managing Director in 2008.

In these roles he led the bank to become one of the leading investment banking franchises in the mining industry in Australia. Chris Fraser joined the Board in January 2011.

Jason Murray, Finance Director and Chief Financial Officer

Jason Murray previously worked at Bank of America Merrill Lynch where he was Head of Capital Markets in Australia. Jason Murray has over 20 years' finance experience having held senior positions at Citigroup and JP Morgan and previously working in various accounting and finance sector roles in London, New York and Moscow. In the last decade, prior to him joining the Company, he participated in raising over US$250 billion for global companies in the debt, equity and hybrid capital markets in the USA, Europe and Asia. Jason Murray joined the Board in May 2012.

Mr. Chris Catlow, Non-Executive Director and Deputy Chairman

Chris Catlow is highly experienced in the international resources industry having worked on the development and operations of oil and gas, hard rock and sand mining projects over a 25 year career. He played a central role in the formation of Iluka Resources Limited and most recently was a senior executive and CFO of the ASX-listed iron ore mining company, Fortescue Metals Group Ltd FMG), having joined shortly after its formation in 2003.

During his seven years at FMG, initially as its inaugural Chief Financial Officer and then as its Investment and Business Development Director, the company financed and brought into production its major iron ore mining, processing and port facility in Western Australia's Pilbara region.  He is Chairman of the Audit Committee and is a member of the Remuneration Committee.

Sir David Higgins

Sir David, is currently the Chief Executive of Network Rail, the Authority responsible for the UK's rail network with an asset value of £40 billion. Previously he was Chief Executive of the Olympic Delivery Authority ("ODA") from March 2006 until January 2011 responsible for Venues, Infrastructure and Spectator Transport for the London 2012 Olympic and Paralympic Games with a budget of £8 billion. Prior to this, he was Chief Executive of English Partnerships, the Government's National Regeneration Agency, for three years. Sir David joined the Board in March 2012. He is a member of the Audit Committee.

John Matthew Patrick Hutton, Baron Hutton of Furness

Lord Hutton was a distinguished member of the Government for 13 years from 1997 to 2010, including 11 years as a Minister and four years serving on the Cabinet. He was appointed Chairman of the Independent Public Service Pensions Commission established by the current Government in June 2010, which delivered its final report in March 2011. In 1992 he was elected to the Barrow and Furness seat in Cumbria where he remained as MP until he stood down at the 2010 general election. Following the general election in 2010 he was created a life peer as Baron Hutton of Furness and now sits in the House of Lords. Lord Hutton joined the Board in January 2012. He is Chairman of the Remuneration Committee.

Professor Michael Mainelli, Non-Executive Director

Michael Mainelli is Executive Chairman of Z/Yen, the City of London's leading commercial think-tank, where he has worked since 1994 on strategy, technology, finance and business development. He started his career as a research scientist and then spent seven years as a partner in a leading accountancy firm directing much of their consultancy work in the UK and overseas. Michael's natural resources experience dates back to 1979 where his early research work led to him starting companies in seismology, cartography and oil & gas information for a Swiss firm.

Michael has worked for public, private and not-for-profit companies, led several privatisation projects, was Chief Scientist of the DTI Foresight Challenge award-winning Financial Laboratory and served as Corporate Development Director on the board of Europe's then largest R&D organisation – the 12,000 strong Defence Evaluation and Research Agency of the UK's Ministry of Defence.

Michael Mainelli joined the Board in May 2005. He is a member of the Audit Committee and is Chairman of the Nominations Committee.

Peter Woods, Non-Executive Director

Peter Woods is a consulting geologist and engineer with extensive experience in the potash industry having worked for 13 years as Chief Geologist at the Boulby Potash Mine in North Yorkshire, initially on its development and start-up.

Since leaving Boulby, Peter has consulted to a number of potash companies and projects including Selection Trust on the Red Sea potash project in Saudi Arabia and for two years on the Environmental Protection Scheme for the ASEAN potash project in Thailand. In addition he has reviewed potash projects in Spain and Russia. He has been advising York Potash Ltd since its establishment and has continued to do so following its acquisition by Sirius in January 2011. Peter Woods joined the Board in April 2011.

 

For more information please click here

 

For information on the management team please click here

Major Shareholders

Share Capital as at 12 November 2013

 

  • Issued share capital as at 12 November 2013 was 1,410,005,142 Ordinary Shares of 0.25 pence each
  • Treasury shares: None

 

Please note, following the Company adopting new Articles on 28 September 2010 and, as permitted under the Companies Act 2006, the Company has no authorised share capital.

As at 30 June 2013, the interests shown below have been notified to the Company in accordance with the Disclosure and Transparency Rules of the Financial Services Authority ("DTR").

 

Notified beneficial owners (other than Directors and related parties):

Capital Research and Management Company                71,239,645                                  5.2%

 

* Percentage of shares not held in public hands.

The above table includes shares held by members of the directors’ immediate family and children who are under age, shares held by trusts where they or members of their family and children are beneficiaries and related companies.

 

American Depository Receipts (ADR)

As at 30 June 2013, there were 3,351 ADRs with each ADR comprising 500 shares. This represents 1,675,500 Ordinary Shares or approximately 0.12% of the issued share capital as at 13 August 2012.

 

Options

As at 14 August 2013, there were 202,266,109 unexercised share options in issue as set out in the table below:

Information taken from Company website 20.11.2013
  • Additional Information
    Market
    AIM
    EPIC
    SXX
    Share Price
    12.38p
    Change
    0
    Volume
    11,085
    Dividend
    0
    EPS
    -0.50
    Shares
    1,874.15 m
    Offer
    12.5
    Bid
    12.25
    Avg. Vol
    4,075,357
    Yield
    0.00
    P/E
    -13.00
    Mkt Cap
    £232.02 m
  • Latest Stocktube
    26/02/2014

    Sirius Minerals says new conveyor plans will greatly reduce costs and environmental impact

    View full size
  • Contact Information

    UK

    3rd Floor Greener House, 68 Haymarket

    London SW1Y 4RF

    United Kingdom

    p:  +44 845 524 0247

    e: info@siriusminerals.com 

     

    Australia

    Level 28, Suite 1, 259 George Street

    Sydney NSW 2000 

    Australia

    p:  +61 2 9917 8900

    e: info@siriusminerals.com

     

    North America

    811 E. Interstate Ave., Bismarck

    ND 58503    

    United States

    p:  +1 701 369-4312

    e: info@dakotasaltsllc.com 

     

    York Potash

    7 – 10 Manor Court

    Manor Garth, Scarborough, YO11 3TU

    United Kingdom

    p:  +44 845 543 8964

    e: info@yorkpotash.co.uk

    Corporate Information

    Joint Brokers

    Liberum Capital Limited

    Ropemaker Place, Level 12

    25 Ropemaker Street

    London

    EC2Y 9LY   

     

    Macquarie Capital (Europe) Limited

    Ropemaker Place

    28 Ropemaker Street,

    London,

    EC2Y 9HD, 

    United Kingdom.

     

    Nominated Adviser

    Macquarie Capital (Europe) Limited

    Ropemaker Place

    28 Ropemaker Street,

    London,

    EC2Y 9HD, 

    United Kingdom.

     

    Solicitors

    Pinsent Masons

    30 Crown Place 

    London 

    EC2A 4ES,

    UK

     

    Auditors

    PricewaterhouseCoopers LLP

    Benson House

    33 Wellington Street

    Leeds

    LS1 4JP

     

    Bankers

    Barclays Bank Plc

    Level 28, 1 Churchill Place

    Canary Wharf

    London

    E14 5HP

     

    Registrars

    Neville Registrars Ltd.

    Neville House

    18 Laurel Lane

    Halesowen

    West Midlands 

    B63 3DA

     

    Financial PR

    Pelham Bell Pottinger

    6th Floor Holborn Gate

    330 High Holborn

    London 

    WC1V 7QD

  • ProactiveInvestors on Facebook