Sirius Minerals PLC (LON:SXX)

Sirius Minerals PLC (LON:SXX)


Share Price
20.88 p
Change
-0.38 (-1.79 %)
Market Cap
£1,001.63 m
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Sirius Minerals PLC

Sirius Minerals is a UK based fertilizer development company focused on the development and operation of its polyhalite project in North Yorkshire.

EPIC: SXX
Market: AIM:SXX
52-week High/Low: 39.78p / 19.31p
Sector: General Mining - Potash and Phosphate
Market Cap: 1,001.63M
Website: www.siriusminerals.com
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Big picture - Why invest in Sirius Minerals PLC


Sirius Minerals PLC Snapshot

OUR VISION

Our vision is to be a world-class fertilizer business.

Our approach to achieve this can be best described as one of disruptive innovation and is based around a simple strategy to ensure that maximum value can be extracted from this exceptional opportunity:

OUR STRATEGY

Build a world-class, long-life, low cost production facility


It is our intention to construct a production facility which enables us to maximise the potential of our unique polyhalite resource. The scale, thickness and quality of the deposit means highly efficient, bulk mining methods can be employed to maximise output over hundreds of years and these considerations are at the forefront of our approach to mine design and construction. We believe the asset we are constructing will be among the most cost-competitive multi-nutrient fertilizer producers globally.

Develop an industry leading product

POLY4 is a natural, low chloride, multi-nutrient fertilizer, the likes of which has never been widely available in the major growing regions of the world. POLY4 has four key attributes that benefit farmers by increasing their profits in a sustainable way through improved yields, reduced costs or both. These are; Effectiveness, Efficiency, Flexibility and Sustainability. Our ever-expanding global agronomy programme provides partners and potential customers with an independently validated dataset which demonstrates the efficacy of POLY4 on a wide range of different crops in varying geographic and climatic conditions.

Penetrate existing markets and drive long-term value

We have a three-step approach to our marketing strategy:

.Substitution – utilising POLY4 as a substitute for other existing fertilizers which include one or more of the same primary nutrients contained in polyhalite. This disruptive approach will ensure POLY4 is widely available in all markets.

.Market growth – today there is an unmet demand for lower chloride potassium sources, and making POLY4 widely available at a commercial price point will unlock new sources of demand and opportunities to adopt greener and more sustainable agricultural practices.

.Performance – our successful extensive crop trial programme consistently demonstrates strong performance from POLY4 and we believe this performance will underpin premium pricing for the product over the long term

Execute a financing plan that delivers returns for shareholders

The Company has taken a rigorous, phased approach to executing the financing plan. At each stage of development, appropriate capital has been raised to deliver the next development milestone. The Company is focussed on shareholder value and pursuing the most efficient and cost-effective capital structure to develop the Project.

PROJECT OVERVIEW

Located near Whitby, North Yorkshire, our state-of-the-art Woodsmith Mine will target the extraction of polyhalite, a unique multi-nutrient fertilizer.

Our Project area contains the largest, highest grade resource of polyhalite to be found anywhere in the world. The polyhalite resource of 2.66 billion tonnes, as defined according to the internationally recognised JORC code, represents seven per cent of the Project’s area of interest.

Polyhalite will be extracted via two mine shafts and transported outside of the National Park to Teesside on a conveyer belt system in an underground tunnel. It will then be granulated at a materials handling facility, with the majority being exported to overseas markets. The Company is aiming to achieve first product from the mine by the end of 2021, ramping up to an initial production capacity of 10 million tonnes per annum (Mtpa) and then full production of 20 Mtpa.

Infrastructure development includes:

Sinking the shafts at Woodsmith Mine to access the polyhalite deposit
Developing a 37 kilometre-long underground mineral transport system (MTS)
A materials handling facility (MHF) in Teesside for granulating or chipping the mined material into the final product
Harbour facilities comprising an approximately 3.5 kilometre-long overland conveyor, a ship berth and a ship loader located adjacent to the harbour on the River Tees

For more information please click here 

 

Non-Executive Directors

 

Russell Scrimshaw
Non-executive Chairman

Chris Fraser
Managing Director and CEO

Thomas Staley
Finance Director and CFO

Noel Harwerth
Senior Independent Director

John Hutton, Baron Hutton of Furness
Non-executive Director

Jane Lodge
Non-executive Director

Keith Clarke CBE
Non-executive Director

Louise Hardy
Non-executive Director

 

Senior Management Team

 

Chris Fraser
Managing Director and CEO

Thomas Staley
Chief Financial Officer

Simon Carter
Chief Development Officer

Nicholas King
General Counsel/ CoSec

J.T. Starzecki
Chief Marketing Officer

Scarborough Office
Resolution House
Lake View
Scarborough
YO11 3ZB
01723 470 010

London Office
3rd Floor Greener House
68 Haymarket
London
SW1Y 4RF
0203 327 3660

CORPORATE ADVISERS

AUDITORS


PricewaterhouseCoopersLLP
Benson House
33 Wellington Street
Leeds
LS1 4JP

REGISTRARS

Link Asset Services
The Registry
34 Beckenham Road
Beckenham
Kent
BR3 4TU

BANKERS

Barclays Bank Plc

Level 28
1 Churchill Place
Canary Wharf
London
E14 5HP

BROKERS

Liberum Capital Limited

Ropemaker Place
Level 12
25 Ropemaker Street
London
EC2Y 9LY

Tel: +44 20 3100 2222

J.P. Morgan Cazenove
25 Bank Street
Canary Wharf
London
E14 5JP

Tel: +44 20 7588 2828

WH Ireland
24 Martin Lane
London
EC4R 0DR

Tel: +44 20 7220 1666

Shore Capital
Bond Street House
14 Clifford Street
London
W1S 4JU
United Kingdom

Tel: +44 (0)207 408 4050

SOLICITORS

Pinsent Masons
30 Crown Place
London
EC2A 4ES

Allen & Overy LLP
One Bishops Square
London
E1 6AD

FINANCIAL PR

Smithfield, A Daniel J Edelman Company
Southside, 105 Victoria Street, London, SW1E 6QT, United Kingdom

 

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