Join our community of smart investors

Sirius Minerals on track

The prospective miner’s interim results contained few surprises
August 17, 2017

We may be several chapters into the Sirius Minerals (SXX) story, but half-year numbers served as a reminder that we are still at the start of an epic tale. Moreover, interims said little that we did not already know about the future polyhalite producer, aside from news that the contract to design and sink the shaft at the Woodsmith mine has been awarded, meaning the project remains “on time and on budget”.

IC TIP: Hold at 27.4p

 

That offers some reassurance, as the shaft will eat up 75 per cent of the $977m (£760m) mine site development costs. But in project management terms, we are just a few inches on from a June update flagging the contract negotiations’ imminent conclusion.

This is subscriber only content
Start your trial to keep reading
PRINT AND DIGITAL trial

Get 12 weeks for £12
  • Essential access to the website and app
  • Magazine delivered every week
  • Investment ideas, tools and analysis
Have an account? Sign in