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.
Sirius Minerals (SXX) has today announced an offtake agreement with Chinese group Yunnan TCT Yong-Zhe Company Limited for the sale of 1mtpa of polyhalite for 10 years from 2017 with the price fixed for the first 3 years. This price is unknown, it will remain confidential, “but is in line with the company's assumptions used for its ‘base case’ NPV modelling”. While Sirius terms the deal "major" broker reaction to the news has been mixed.
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