logo-loader
viewSirius Minerals PLC

Investec's Jeremy Wrathall 'pleased but not surprised' at ease of Sirius Minerals PLC's funding

Just a day after outlining plans to bring in up US$1.2bn of new funds, Sirius Minerals PLC (LON:SXX) has revealed the process is ostensibly complete.
Investec's Jeremy Wrathall tells Proactive: ''Given the backing of Gina Rinehart's foundation this has really set the scene for this placing to be successful.''
He adds: ''UK investors are much more open to the mining industry right now  and hence I'm not particularly surprised that it went so quickly''.
Asked whether this will be the last equity Sirius will raise before hitting production, he said ''It's a difficult one to say because obviously they've still got to raise a second tranche of funding but given that this has been raised successfully and this will have given them enough money to start production it seems highly unlikely that they won't be able to raise a second tranche''.

Quick facts: Sirius Minerals PLC

Price: 3.55 GBX

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

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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...

17 hours, 37 minutes ago

2 min read