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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.

Quick facts: Sirius Minerals PLC

Price: 3.55 GBX

Market: LSE
Market Cap: £249.22 m

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