Andy Hemphill seems to hit the nail on the head with his final paragraph.
Sounds like JT is as polished as ever presenting but the product and its pricing are key to the next stage of funding in a hard nosed world.
However, whether potential customers can be persuaded to change their ways in sufficient number remains to be seen - and with stock in the company moving lower of late; despite recent positive stories in the media - investors may need more than a polished PR presentation to retain their confidence in the companys long-term plan.
ICIS are likely a useful conduit for Sirius' present (and very necessary) marketing drive. Their chap Hemphill appears to be a regular at Sirius' sites nowadays.
Though the Hancock deal as part of Stage 1 monies is price agreed funds ($250m for the royalty, $50m of shares at ~20p), those funds are indeed not released and won't be until the co show evidence they have spent some $690m of the total committed $1090m of St1 that arose from the 3/11/16 sale of the issue and the CBs as well as the royalty.
At a rough guess so far since then the co have not spent more than $150 to 200m, and a significant part of that being on settling bills for property, S106 etc. So (with for instance, D walling actual cutting only just started) it seems very unlikely the $690m spend figure will be anywhere near reached before the end of the (far more important to the co I imagine) agreed duration of the 'Engagement' between the co and the St2 Mandated Lead Arrangers*. Making the point at which the Hancock monies get paid out not particularly significant.
From the 25/4 Main Listing Prospectus:
"1.6.4 Mandated Lead Arrangers Engagement Letter for Stage 2 Financing
..Any Mandated Lead Arranger or Bookrunner may terminate its obligations under the Mandate Letter by notice if,... the finance documents are not entered into within two years of the date of the Mandate Letter, the conditions of the Mandate Letter have not been satisfied, or if the Company fails to disclose to it any information relevant for arranging the Facilities."
*Two years from date of letter:
"The Company is a party to a mandate letter dated 17 August 2016.."
I expect Sirius will not want the deal to lapse. 8 months of window left, not that far away. There is much to do. They are capable.
Yes indeed, just as others that have bought the marketing just like Wilmar in Indonesia or Virginia Tec in the Cotton Trials or Minnesota for the Potato Trials, in fact these people buying into the"Marketing" is getting quite big and exciting around the world, of course that's never mattered much to you, all these successful and ever expanding crop trials at institutions around the world and the TorP agreements as long as Mr Johnson couldn't see a market for it because "Only the other day I was taking to a farmer" and Farm Yard Manure is more than adequate to fulfill the nutritional needs of the good old British farmer because that's the 'Proper Pasty' type of research that you seemed so keen to accept as sound Professional Agronomist opinion way back when, so it's unsurprising that you still think people are 'buying' into the Poly4 story and long may it continue. ;-)
A. the spoil heaps which are causing objections from the campaigners objecting to the revised plans could be disposed of in the caverns underground. hence no objections to any changes and no spoil heaps by back-filling.
SXX has been developing a nice flag pattern since 2016. The 18/ 20p zone is key. If it holds, then I will be adding to my existing holding. The pattern becomes self perpetuating, especially in a no news environment. No reflection on SXX. Simply an opportunity to add if it presents itself.
Sirius Minerals finalises agreement for Bran Sands site, on the mouth of the River Tees
A POTASH firm building a £2.2bn fertiliser mine has finalised a deal to buy a harbour site.
Sirius Minerals has taken ownership of land at Bran Sands, on the mouth of the River Tees.
The business had long identified the site as being crucial to operations, with the harbour due to handle the fertiliser polyhalite from Sirius Woodsmith Mine, based on the outskirts of near Whitby.
The company plans to move its polyhalite underground from Yorkshire to Wilton, near Redcar, where it will be stored before being delivered to customers from the harbour.
Building work on Teesside is expected to start in 2019.
The company says the mine is expected to create more than 1,000 direct jobs and support a similar number in the supply chain, with production expected to get underway in late 2021.
Chris Fraser, Sirius Minerals chief executive, said: The acquisition of Bran Sands represents another important step forward in the ongoing development of our project.
Having exclusive access to our own deep-water port is a huge part of the proposition for our project, giving us access to a global distribution network.
The life of the mine is expected to be over multiple generations, so the facilities that we will build here will provide jobs in and attract investment to Teesside for many years to come.
Polyhalite is reputed for its potassium, magnesium, sulphur and calcium content that encourages strong crop growth.
Yep, can access my "research account", (hence being able to post comments), but logging in to my trading account is not possible. Clicking the "Login" button just blanks the screen and the relevant web page then spends infinity trying to open - without actually doing so. Oh well, was naive to expect anything on II to actually work first time!
B - a prison for the designer of the new ii trading platform. Could someone tell me how you view dividend income and transfers of dividends please? If I've missed something obvious then I'll volunteer to lock myself up in a Sirius cave.
PP. Newmont have recently completed a six month Due Diligence on this company and they have not as yet indicated a scam. And they will likely announce their deal next week. The gold still lies in the ground . and it wont contaminate with sea water - as - possibly - HUR oil might in its fractured .....
With boredom setting in until the next RNS, I suggest contributors to this board might like to suggest the best ways to economically use the caverns left as the mine progresses. Serious ideas that boost profitability might be placed under the heading A and amusing ones under B.
I will kick off with: B A temporary home for the Houses of Parliament whilst Westminster is repaired.
I am both a HUR and an SXX substantial holder, but I would also suggest that one also takes a third huge potential company - GGP - into the fold. BUT, you only have until Monday , or possibly two or three more days to benefit, Newmont are about to make a bid for GGP,s newly discovered gold deposits in Oz, largest gold discveries in the last 10/15 years. DYOR but make it quick.
Bank101 says our government are not required to care about tax revenue - thank goodness for that - we can do without free education, the NHS, the civil service and the armed forces then! I assume the wealth he sees when he goes outside is not in Tredegar! I rest my case!
Of course had we not evolved from living in caves the earth would be one large conservation area. Or perhaps not had mammoths and the like multiplied as quickly as humans did and left the planet one large dung heap.
On reflection, should the McConnell/Corbyn terrorist lovers get into power the UK at least will quickly resemble one large dung heap anyway.
"I am a staunch supporter of nature conservation but that very conservation depends on the generation of wealth."
Your assertion here is wrong:
The generation of wealth to date has depended on exploiting natural resources (for obvious reasons..).
Global GDP increase last 100 years ~ 30x
I do not think anyone would say the planet has been anything like 'conserved' - our standard of living is becoming exceptional however.
Conservation is a corollary of efficiency and sustainability which ought to be profitable.
'millions wasted' - these millions are the costs of the up-to-now un-paid for externality associated with environmental exploitation.
Better technologies will evolve from this proof of work. (Tesla).
Our government are not required to care about tax revenue. (BofE).
Our government do not posses any of the skills required to engineer a project like this. (HS2).
"ignorance and selfishness of a small minority that care nothing for the economic wellbeing of the community at large"
The improvements made from the necessity of dealing with these externalities will be worth the wait.
"pulling the economics of our country into the mire"
When i go outside i see unbelievably vast amounts of wealth.. where is this mire?!
OceanFox, your 15:44 post, absolutely, this country's issues of primary importance going forward influenced by dinosaurs in this case, it's unreal that those paragraphs so strongly reflect a couple of planning officers views considering just how overblown their opinions in the original passed planning permission are now proving to be with regard to the effects on the NP and the surrounding environment, things like the effects on the road network to the birds and wildlife now the construction is well underway, not to mention the cash now going into projects that will exponentially outweigh any detrimental effects of this mine across the whole of the NYMNP.
I've read it now - quite the document. Recommendations being - which seems to be saying in a complicated manner that is "ok". Excuse my lack of detail however it's not exactly clear.
"That, taking into consideration the environmental information submitted with the
application, and subject first to the completion of deeds of variation to secure the
continuance of all existing obligations between the applicant and the National Park
Authority and the applicant and North Yorkshire County Council, contained in the
separate Section 106 legal agreements between the applicant and each of those
parties (as remain relevant) dated 19 October 2015:
1) Planning permission be granted for the variation of condition 5 of planning
permission NYM/2014/0676/MEIA dated 19 October 2015 by substituting a new
schedule of approved plans and drawings as set out in Appendix One to this report;
2) The permission be subject to the schedule of terms and abbreviations, conditions and
informatives as set out in Appendix Two to this report. "
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