viewSirius Minerals PLC

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.

Quick facts: Sirius Minerals PLC

Price: 3.55 GBX

Market: LSE
Market Cap: £249.22 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Things coming together nicely in Greenland, says Bluejay Mining's CEO

Rod McIllree, Bluejay Mining PLC’s (LON:JAY) chief executive, tells Proactive that all three of its projects in Greenland are shaping up nicely with plenty of interest from mining giants. Dundas is the flagship and here a bulk sample of mineral sands has been shipped to a Rio Tinto facility...

2 days, 4 hours ago

2 min read