Potash

Sirius : Stage IV

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"The owners of the Potash mine near Whitby say they are focused and committed to delivering the project.

Sirius Minerals have not been able to get the £400m it needs to fund the next stage.

It has taken the decision to reduce the rate of development in order to save funding to allow more time for alternatives.

Gareth Edmunds, External Affairs Director at Sirius Minerals, said:

"We've been focused since the day we started this project, which is nearly nine years now, on delivering it.

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The Obscure Mineral

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"Phosphate is an essential mineral for all life on Earth and is added to farmers’ fields in huge quantities. But rock phosphate is a finite resource and the biggest supplies are mined in politically unstable places, posing risks to the many countries that have little or no reserves.

Phosphate use has quadrupled in the last 50 years as the global population has grown and the date when it is estimated to run out gets closer with each new analysis of demand, with some scientists projecting that moment could come as soon as a few decades’ time..."

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Sirius Minerals : Into Darkness

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"Quarter Two : Progress Update

* Comprehensive US$3.8 billion funding solution for stage 2 financing requirements launched on 30 April 2019 and on-track to complete before the end of September 2019

* Successful completion of US$425 million equity offering and US$400 million convertible bond offering

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Sirius Mine Funded

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The Launch : "The Stage 2 Financing consists of a combination of:

(i)    an underwritten Firm Placing and Placing and Open Offer to raise gross proceeds of approximately US$400 million 310 million) at a price between 15 and 18 pence per New Ordinary Share (the "Issue Price") launching immediately following the release of this announcement;

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Sirius 2019 >> MMXXI

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Special K : Valiam

"Fertilisers are routinely added to soil to enhance plant growth and increase crop yields. They include three main macronutrients: nitrogen (N), phosphorus (P) and potassium (K). If any of these macronutrients were to become unavailable or inaccessible to agriculture, a global food crisis of unprecedented scale would likely ensue. 

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