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Sirius Minerals: £53million cash, still not a buy

By Ben Turney | Friday 7 March 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Chris Fraser, CEO of Sirius Minerals (SXX), will no doubt be a very happy man this morning. Before yesterday’s open, Sirius announced a proposed placing of £30million. Over the course of the day this proved to be the hottest ticket in town, for no sooner had the market closed then Sirius proudly released its second update declaring that it had managed to raise £43million at 12p. So is Sirius now a good bet for investors?



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