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.
