Proactiveinvestors United Kingdom - General Mining - Potash and Phosphate RSS feed Proactiveinvestors United Kingdom - General Mining - Potash and Phosphate feed en Sat, 20 Jan 2018 11:09:51 +0000 Genera CMS Sirius Minerals tweets video showing progress at York potash project Mon, 15 Jan 2018 15:20:00 +0000 Many positives in Sirius Minerals' latest update say brokers Fri, 12 Jan 2018 15:12:00 +0000 African Potash extends reach into blockchain with TokenCommunities joint venture Fri, 12 Jan 2018 08:53:00 +0000 Sirius Minerals confident on York Potash development timeline Fri, 12 Jan 2018 07:42:00 +0000 Fertile Ground: Sirius Minerals' second fundraising round is expected in 2018, will the success continue? Thu, 28 Dec 2017 10:00:00 +0000 Kore Potash also intends to seek secondary listing on Johannesburg Stock Exchange main board Thu, 14 Dec 2017 11:41:00 +0000 Kore Potash says latest drill results indicate much larger resource at Kola Thu, 07 Dec 2017 09:58:00 +0000 African Potash announces new joint venture for Republic of Congo Fri, 01 Dec 2017 11:47:00 +0000 African Potash will partner GMEX for block chain joint venture Tue, 28 Nov 2017 15:31:00 +0000 African Potash to raise £400,000 for block chain payment scheme Fri, 17 Nov 2017 07:43:00 +0000 Kore Potash shareholders meet to vote on switch to UK Fri, 27 Oct 2017 07:35:00 +0100 Sirius Minerals advances after landing another de-risking commercial deal Thu, 26 Oct 2017 14:22:00 +0100 Sirius Minerals inks South East Asia export deal for North Yorkshire fertiliser mine Thu, 26 Oct 2017 07:19:00 +0100 African Potash raises £60,000 after completing a private placing of 100mln new shares at 0.06p each Wed, 25 Oct 2017 16:29:00 +0100 Sirius Minerals tipped as ‘buy’ ahead of institutional investor visit to polyhalite mine project Tue, 24 Oct 2017 14:50:00 +0100 African Potash shares on the way to NEX restoration Mon, 23 Oct 2017 08:12:00 +0100 Kore Potash reports 'excellent start' to Kola definitive study Fri, 06 Oct 2017 10:52:00 +0100 Sirius Minerals sees mine development activity rising every month Fri, 29 Sep 2017 15:20:00 +0100 Sirius Minerals' rumoured interest in nearby mine gets cool reception from Shore Capital Mon, 11 Sep 2017 13:52:00 +0100 African Potash and AAX extend period to complete Lac Dinga project farm-out Fri, 08 Sep 2017 14:54:00 +0100 Sirius Minerals expecting to announce more off-take agreements by end of the year Wed, 16 Aug 2017 11:14:00 +0100 Sirius Minerals says development work is on time and within budget Wed, 16 Aug 2017 08:25:00 +0100 Potential Sirius Minerals rival has ‘thrown in the towel’ - analyst Wed, 09 Aug 2017 13:01:00 +0100 Kore Potash has a big project, big plans, and even bigger backers Fri, 21 Jul 2017 14:00:00 +0100 African Potash inks farm-out deal with AAX on Lac Dinga project Wed, 19 Jul 2017 12:29:00 +0100 Shore Capital repeats 'buy', punchy valuation on Sirius Minerals after latest update on fertiliser project. Thu, 29 Jun 2017 09:56:00 +0100 Sirius Minerals enjoys productive three months; will start sinking mine shaft in third-quarter Thu, 29 Jun 2017 07:35:00 +0100 Sirius Minerals' FTSE 250 elevation underlines growing market confidence in the Yorkshire project Mon, 19 Jun 2017 07:00:00 +0100 Sirius Minerals says US$67mln of US$400mln bond issue now converted Fri, 16 Jun 2017 07:57:00 +0100 Sirius Minerals making progress in offtake agreement talks, says Liberum analyst Thu, 15 Jun 2017 06:00:00 +0100 African Potash's blockchain tech set for big impact in Africa Chris Cleverly, executive chairman at African Potash Ltd (LON:AFPO), tells Proactive they've struck a deal on a joint venture with Gibraltar firm TokenCommunities Limited to further its entry into game-changing blockchain technology.

African Potash says the deal will complement the FinComEco joint venture they struck back in November and will bolster its plans to operate a range of platforms and projects in the agricultural commodity markets sector in sub-Saharan Africa.

Alex Lightman, chief executive of TokenCommunities Limited, says they'll be advising on the deploying tokens - which will allow users to gain access to a digital resource.

Tue, 16 Jan 2018 12:02:00 +0000
Kore Potash Ltd's Sean Bennett reveals key next steps for world-class Kola asset Sean Bennett, chief executive for Kore Potash, speaks with Proactive Investors.

Wed, 12 Jul 2017 14:07:00 +0100
'It's all about marketing and offtake agreements' for Sirius Minerals - Liberum's Richard Knights Richard Knights, Head of Mining Research at Liberum Capital updates on progress with Sirius Minerals PLC (LON:SXX) ahead of their listing next week on the FTSE 250.

Wed, 14 Jun 2017 15:33:00 +0100
Investors can't get enough of Sirius Minerals PLC Existing investors have wholeheartedly backed Sirius Minerals PLC's financing plans (LON:SXX) by taking up their full allocation in the open offer portion of the mine developer’s fundraising.

The North Yorkshire-focused group said it received acceptances for just over 185mln shares.

Asked whether he's surprised at the amount of support shown by existing investors, Liberum's equity research analyst Richard Knights tells Proactive: ''Not really, the management team has been able to deliver on basically everything that they've suggested they'll be able to deliver on. Shareholders have been happy with their performance to date. The shares have obviously gone up in value ... the placing was done at a discount to the share price on the screen so there was plenty of incentive for investors to take part in it.''

Knights added: ''It's the last component of the equity raise. They began a couple of weeks ago with the institutional placing and the strategic investor placing with Hancock Prospecting. In total they've now raised just under $1.2 bln which is sufficient to fund them for the first phase of development''.

''The second phase is going to be debt-funded and will be put in place sometime around 2018/2019''.

Thu, 24 Nov 2016 15:55:00 +0000
Sirius Minerals shares can see “better levels” relatively soon Sirius Minerals PLC (LON:SXX) shares can push back to “better levels”, according to technical analyst Zak Mir, who says the support in chart is at 21p per share.

Mir, in a Tip TV segment for Proactive Investors, says cautious investors may wait and watch for the price to move above 23.75p (which would represent a break above the 200-day moving average).

“Ideally there won’t be any sustained price action back below 20p ahead of a new leg to the upside,” he added.

Wed, 23 Nov 2016 10:42:00 +0000
Sirius Minerals PLC chief 'delighted to have reached this point' with project financing Sirius Minerals PLC CEO Chris Fraser spoke to Proactive a week on from firming up the company's $1.2 bln first-phase financing plan for their Polyhalite mine in North Yorkshire.
'We're delighted to have reached this point. We've got the shareholder vote to go but it's great to reach a major milestone like this. It's taken a long time but it's a pretty significant achievement for us and it's good that we've not only achieved a milestone for us but also set a few benchmarks in the process'', Fraser said.
''Our focus has always been on bringing this project into production - we've done everything we can all the way through to minimise dilution, which is a bit of dirty word in retail investment land, but ultimately you need capital to unlock the value and deliver a project like this. We believe the package we've put together here does the best job and is absolutely in the best interests of shareholders.''

Fri, 11 Nov 2016 13:38:00 +0000
Chartist says you can be relatively confident Sirius Minerals shares will find support It may be unfair, but when it comes to Sirius Minerals PLC (LON:SXX) and its new breakthrough funding deals, the market has decided it was better to travel than arrive according to technical analyst Zak Mir.
Mir, in a Tip TV segment for Proactive Investors, said: “It is perhaps rather unfair that we’ve seen the share price knocked back from 40p-plus down to the 24p area so quickly, but given the way that financing was achieve relatively easily one would be relatively confident that support would come in towards the 20-25p on a sustained basis.
He added: “a gradual recovery can happen after that.”
Mon, 07 Nov 2016 09:50:00 +0000
Investec's Jeremy Wrathall 'pleased but not surprised' at ease of Sirius Minerals PLC's funding Just a day after outlining plans to bring in up US$1.2bn of new funds, Sirius Minerals PLC (LON:SXX) has revealed the process is ostensibly complete.
Investec's Jeremy Wrathall tells Proactive: ''Given the backing of Gina Rinehart's foundation this has really set the scene for this placing to be successful.''
He adds: ''UK investors are much more open to the mining industry right now  and hence I'm not particularly surprised that it went so quickly''.
Asked whether this will be the last equity Sirius will raise before hitting production, he said ''It's a difficult one to say because obviously they've still got to raise a second tranche of funding but given that this has been raised successfully and this will have given them enough money to start production it seems highly unlikely that they won't be able to raise a second tranche''.

Sat, 05 Nov 2016 08:07:00 +0000
Sirius Minerals has cleared ‘big hurdle’ with new project financing - analyst Sirius Minerals PLC (LON:SXX) has now cleared the ‘big hurdle’ as far as equity investors should be concerned, according to Liberum Capital analyst Richard Knights.

The UK mine developer today unveiled a major equity and convertible debt raise which will see the company satisfy its Phase One project financing for the North Yorkshire Polyhalite Project.

In a Proactive Investors interview Knights highlights that the funding is fully underwritten and subscribed, to cover the minimum requirements, and as such it is a strong endorsement of the project.

“I think it has been a good uptake from investors and from strategic investors,” the mining analyst said.

Knights also talks about the possible timeframes for the project, including the second phase project financing, and the building of the mine.

“This is certainly the big hurdle as far as the equity is concerned, this should be the last equity that the company issues before hitting production in 2022.

“So we have a pretty good idea now of what the capital structure of the company is going to look like when it hits production and starts generating revenue and cashflows.”

Wed, 02 Nov 2016 10:04:00 +0000
Hancock deal will make Sirius Minerals' funding 'easier' Jeremy Wrathall, head of mining equities at the City broker Investec, congratulated Sirius Minerals (LON:SXX) on its deal with Hancock Prospecting.

He described Hancock as “one of Australia’s most iconic companies”, adding: “For Sirius this is a great endorsement.”

Earlier, the AIM-listed mine developer revealed it had agreed a funding package worth over US$300mln with Hancock.

The natural resources investment firm owns vast tracts of the Pilbara iron ore region of Western Australia and is controlled by Gina Rinehart, the country’s richest woman.

The calibre of this new investor should make the remainder of Sirius’ financing round a little easier, Wrathall told Proactive Investors’ Andrew Scott.

“This deal will attract other financiers to come forward,” he added.

Tue, 25 Oct 2016 15:51:00 +0100
Funding deal a 'significant endorsement' of Sirius project says Mining Capital's Ford Mining Capital's Alastair Ford speaks to Proactive about the financing deal between Sirius Minerals PLC (LON:SXX, OTCQX:SRUXY) and Hancock Prospecting.
The pact will form an important plank of the overall funding package for the AIM-listed group’s North Yorkshire Polyhalite Project.
Under the terms of the agreement, Hancock British Holdings is acquiring a 5% royalty on the first 13mln tonnes of fertiliser produced every year and 1% on anything over that output figure at a cost of US$250mln.
Alastair Ford said: 'It's a very big project. It's a big deal for Yorkshire. It's been subject to a number of inquiries and planning investigations and has actually got through all those fairly easily.''
''Gina Rinehart and Hancock  are very very big in the world of mining and I find this deal a significant endorsement of the Sirius Project'', Ford added.
Tue, 25 Oct 2016 15:33:00 +0100
Chart guru Zak Mir sees potential for a Sirius Minerals rally up to 50p Shares in Sirius Minerals PLC (LON:SXX) could advance back towards the highs seen earlier this year, according to chart guru Zak Mir, who says a close back above 35p would be the technical trigger for traders to watch out for.

If this ‘buy’ trigger is met 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.

Sat, 01 Oct 2016 07:45:00 +0100
Sirius Minerals making impressive progress says Investec's Wrathall Investec’s Jeremy Wrathall has been impressed with the progress so far at Sirius Mineral’s (LON:SXX) polyhalite project in Yorkshire.

A major test still lies with the financing for the massive development, but news of a syndicate being arranged for the second stage funding is encouraging he said.

Rumours of a merger between two of the North American fertiliser giants has also stoked up the interest in the sector as has a perceptible shift for the better in the mood among miners he says.

Thu, 01 Sep 2016 16:40:00 +0100
Things lining up for Sirius's polyhalite project, suggests Investec analyst Investec analyst Jeremy Wrathall talks to Proactive about some of the issues facing Sirius Minerals PLC's (LON:SXX) ambitious North Yorkshire Polyhalite project.
Undoubtedly, a large and challenging project, the firm has thought things through "incredibly" carefully, says the analyst.
This week the mining group said talks on securing construction finance was ongoing.
The capital requirements are put at US$2.91bn, with US$1.1bn needed to get the first phase underway.
Wrathall said where funding may have been hard in the past, the last six months had seen a sea change in attitude in the mining sector, with an upturn in commodity prices and investors looking for yields, which they can't get elsewhere, like from gov't bonds.
"This project could become an annuity stream going forward given its high volume and hopefully relatively stable price (of the product)," he even suggests.

Wed, 17 Aug 2016 12:56:00 +0100
Crystal Peak CEO hails “highest quality” study consultants Fertiliser group Crystal Peak Minerals Inc (CVE:CPM) recently moved a step closer to completing the key feasibility study for its project on the Sevier Playa in Utah, USA, after it announced the consultants that would work on the report.

The firm has hired CH2M Engineers Inc, Norwest Corporation and Novopro Projects to complete the NI43-1O1 report and technical study.

 Speaking exclusively to Proactive, Crystal Peak’s chief executive, Lance D’Ambrosio, is convinced that it has the best companies for the job on board.

“We believe that is the highest quality group that we could possibly find to advance the project through our definitive feasibility stage,” D’Ambrosio says.

He also says that work is already underway, and expects the study to shed some light on the extraction plan and recharge system at the Sevier Playa, as well as how the salts will be processed and refined.

D’Ambrosio expects the results of the study to be published in around a year’s time.

“Our forecast right now [for the results to be published] is about 12 months from where we’re at today, so we’re looking at the late first half of next year.”

Fri, 15 Jul 2016 13:29:00 +0100
Sirius Minerals resource upgrade shows project is “robust”, says WH Ireland Analyst Paul Smith of WH IRELAND tells Proactive Investors that Sirius Minerals PLC’s (LON:SXX) resource upgrade at its polyhalite project in North Yorkshire is “only a modest upgrade, but it really shows how robust the project is. It's a huge deposit”.

Sirius said the project is now host to a 280mln-tonne ore reserve at a grade of 88.4%, compared with 250mln tonnes at 87.8% previously.

"We’re in an interesting phase for the company at the moment as it moves into funding, it’s got a definitive feasibility study which shows great returns and has done some fantastic work on the agronomics and the demand for the product," adds Smith.

"It's a very exciting project" says Smith and one the analysts will be watching closely.

Tue, 17 May 2016 15:49:00 +0100
Sirius Minerals PLC chief discusses DFS and York Potash financing The long-awaited definitive feasibility study (DFS) for Sirius Minerals PLC's (LON:SXX) York Potash Project in North Yorkshire has underscored its huge potential. The report says its net present value today is US$15bn using a 10% discount rate.

Managing Director, Chris Fraser, tells Proactive that the firm is “ready to go” on construction of the project, with the company now looking to how it will finance its development.

He adds that the projects biggest competitive advantage is its margins, with the company expecting “around 70% margins up to 85% - and it’s very difficult to find projects or companies that come even close to those margins.”

Thu, 17 Mar 2016 12:47:00 +0000
African Potash focused on trading, profits and building the business Chris Cleverly, chairman of African Potash (LON:AFPO) says the focus for the firm is to trade, book profits and build the business.

It comes after AFPO revealed it has sent the first 20,000 tonnes of fertiliser under a landmark trade, netting US$10.16mln in the process.

The deal is part of an agreement with COMESA -  a free trade union of 20 African countries  - and the plan is to supply 500,000 tonnes a year initially under the agreement.

Cleverly admits this could be extended in the not too distant future.

Wed, 06 Jan 2016 15:28:00 +0000
African Potash Boss: we are in with the big boys African Potash (LON:AFPO) Chairman Chris Cleverly tells Proactive Investors that their new collaboration with South African investment firm Beryl Holdings will improve their profiles and business potential and is a great deal. "This the beginning of a beautiful relationship. It is an amazing opportunity where we are actually purchasing 100% of Beryl Fertilizers future earnings" he said.

Cleverly said the opportunity is clear for both groups. "We give them a global opportunity, they provide us with huge supply contracts, huge distribution opportunities, finance lines and logistics and those are the things we needed to get - real people on the ground" he said.

Tue, 01 Dec 2015 12:49:00 +0000
Sirius Minerals demonstrating ability with offtake deals, says house broker Paul Smith, analyst at wealth management and brokerage house WH Ireland, offers his view on AIM-listed Sirius Minerals (LON:SXX) – which extended a major offtake agreement today.

An unnamed Fortune 500 company now wants 1.5mln tonnes of fertiliser when the firm’s York Potash Mine opens, and Smith reckons the deal is important when it comes to the next stage of development at the site.

The analyst is also keeping an eye on other small caps, including Diamondcorp (LON:DCP) , Wolf Minerals (LON:WLFE) and says his favourite commodities in the current environment are uranium, diamonds and zinc.

He also likes some of the establish companies with cash flow and paying dividends, such as Pan African Resources (LON:PAF), Highland Gold (LON:HGM), Caledonia Mining (LON:CMCL).

Wed, 19 Aug 2015 16:10:00 +0100
African Potash chair: Comesa deal will give shareholders a revenue business The chairman of African Potash (LON:AFPO), Chris Cleverly, says as much as US$1-3mln worth of revenue from the firm’s initial fertiliser trade deal with Comesa could come through in the next couple of months.

African Potash (which is still at the pre-revenue stage) along with crowd-funding group Mask Africa will work to supply Comsea - a free trade union of twenty African countries – with 500,000 tonnes of fertiliser a year which would then be sold to farmers.

Speaking to Proactive, Cleverly said the first deal will be for 50,000 tonnes and could be wrapped up in two months’ time.

“We’re going to source the best product, source the best price, take a margin, sell it on and give shareholders a revenue business,” said Cleverly.

Tue, 04 Aug 2015 14:50:00 +0100
African Potash CEO on ‘excellent’ drill results Ed Marlow, the chief executive of African Potash (LON:AFPO), explains why the ‘proof of concept’ drilling campaign in the Republic of Congo was ‘very successful’.

Marlow says the key is that the project has been derisked, adding that the ‘better’ long-term option is to secure a strategic investor or buyer for the Lac Dinga project to ‘take it to the next level’.

Tue, 09 Dec 2014 16:16:00 +0000
African Potash CEO encouraged by first drill hole The chief executive officer of African Potash (LON:AFPO), Ed Marlow, says the result from the first exploration hole at its Lac Dinga potash project in the Republic of Congo is “very encouraging”.

He says there is still plenty of chemical analysis to be done but there early signs are good.

Wed, 10 Sep 2014 16:03:00 +0100
Sirius Minerals says new conveyor plans will greatly reduce costs and environmental impact Chris Fraser, chief executive of Sirius Minerals (LON:SXX), tells Proactiveinvestors that the company's new plans for transporting polyhalite from its York Potash Project through an underground conveyor-based system will significantly reduce the environmental impact and operating costs.

Wed, 26 Feb 2014 11:15:00 +0000
Sirius Minerals signs 'big US agri-business' for 'Take or Pay Offtake' agreement Chris Fraser, chief executive of Sirius Minerals (LON:SXX), tells Proactiveinvestors that the agreement that has been made with a 'Fortune 500' company takes sales commitments to 4.8mln tonnes per annum. While planning consents are being approved, Chris says that company continues with the engineering process to make the project more efficient and so raise potential shareholder returns.

Tue, 21 Jan 2014 12:16:00 +0000
Sirius Minerals achieves maiden reserve milestone Sirius Minerals (LON:SXX), tells Proactiveinvestors that, having published a maiden reserve, the company is making great strides in taking the York Potash project to development. Chris talks about the perceived 'approval risk' and explains that there is total support from a number of influential quarters. ]]> Mon, 23 Sep 2013 08:15:00 +0100 African Potash -- holding the last "good exploration licence" in Republic of Congo African Potash (LON:AFPO) describes the area as being home to "very, very high grade" Potash which is easily extractible and so close to shipping links "that in terms of production could be in the lowest quartile in the world". AFPO's licence is right next door to the huge Sintoukoula deposit belonging to Elemental Minerals and Ed is "fairly comfortable that in our exploration area... will have something that will be very similar". All eyes on Elemental Minerals (ASX:ELM TSX:ELM)at the moment too as they have received an all cash takeover offer from Hong Kong based Investment group Dingyi for AUD190m. Whilst AFPO has plans for drilling, proof of concept studies and proving up a resource, Ed suggests that investors to "do the simple maths" and look at Elemental. ]]> Wed, 31 Jul 2013 14:58:00 +0100 Hanging wall seam too good to ignore, says Elemental Minerals Elemental Minerals is looking for a strategic partner to help it develop Sintoukola. ]]> Mon, 10 Dec 2012 15:13:00 +0000 Sirius Minerals CEO says the value of its potash deposit is "significant" Sirius Minerals (LON:SXX) gives Proactiveinvestors a detailed walk through of the York Potash Project, which a recent scoping study shows has an NPV of "around" $6bln at point of mine construction. Chris says that based on this assumption the current share price is significantly short of where it should be. Chris also says that with the "tremendous team of people" on board he has the confidence that can deliver the project in the right time. ]]> Fri, 14 Sep 2012 08:51:00 +0100 Elemental Minerals CEO says there is "great potential" with its potash development ASX:ELM TSX:ELM), tells Proactiveinvestors that there’s a distinct “window of opportunity to enter into the potash space” and it is very focussed on delivery into the opportunity that exists. Iain also talks about the potential for development and says that the company has just looked at 60sq km out of a “potential 1,400sq km” of high grade shallow potash]]> Thu, 03 May 2012 16:01:00 +0100