Sirius Minerals Forum

no prices this morning??

further to fall imho too much hype for basically a hole in the ground.

another to watch and about to rerate is JLP with assets NPV 3bn and mcap only 30m. watch the JLP CEO webminar tomorrow morning (see RNS)

given the huge rise so far its very reassuring that the SP is still going up. Main Market entry would give it a huge kick forward too.

What goes up

yahoo

moving back up

all sounds very very positive

i would not let these go - plenty left in the tanks

"This is a very significant capital cost reduction and clearly good news for Sirius shareholders, although $2.91b is still a massive funding requirement for a company of Sirius' size. Management hopes that by splitting the capex into two stages the quantum is somehow reduced, but the fact is, it needs $2.91bn of funding to get the mine to profitability in year 7. That said management is planning to fund Stage 1 with 50% equity and 50% junior debt plus other instruments (e.g. royalty), and to fund Stage 2 with 100% senior debt. So splitting the funding into 2 parts is a valid approach, at least with regards its negotiations with potential funders. As things currently stand, 50% of $1.09bn is c £0.39bn (1.4 GBP:USD), not far off Sirius' current market value, but not an impossible feat. Management can reasonably argue that with an NPV10 of $15.3bn (£11.0bn) and EBITDA in year 9 of $1.8bn, £0.39bn for 50% of the company is a very attractive investment." Beaufort note out this morning on research tree