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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

LSE:SXX
Market: LSE
Market Cap: £249.22 m
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