Keyword results: Chris Fraser

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Sirius Minerals – announcement includes “significant steps forward for the business”… so why a share price slump?

“Procurement and capital estimate update” announcement from Sirius Minerals (SXX) sees CEO Chris Fraser commencing comment by emphasising “the signing of the contracts for the remaining tunnel drives and the materials handling facility at Wilton are significant steps forward for the business with almost all procurement now complete”. However, the shares have responded currently circa 10% lower, to around 30p. How’s that capital estimate then?...

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Sirius Minerals DFS - Chat with Chris Fraser CEO

Shares in Sirius Minerals (SXX) have slipped back sharply since the annnouncement of the DFS for the North York Moors Potash mine. They now trade at 15.5p. But then then a slew of gushing broker buy notes pre the DFS pushed the stock up a lot. I personally would not get too fixated on short term movements.

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Sirius Minerals; excitement growing over sales agreement

Sirius Minerals (SXX), the AIM-quoted company seeking to develop one of the world’s largest high-grade potash deposits in the North York Moors National Park, says it has reached agreement to expand a recently-signed take or pay supply agreement with a ‘major US agri-business’. This will see the company’s sales rise from an annual 500,000 tonnes of polyhalite for an initial five years to 1.5 million tonnes over seven years from its York Potash project.

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Sirius Minerals a sell at 8.75p Sirius money needed soon.

I lasted shorted shares in Sirius Minerals (SXX) in August 2013 when the company, desperate for cash, announced a death spiral equity finance loan from an unnamed New York based firm. This was misleadingly dressed up as an investment, with CEO Chris Fraser even crowing that it demonstrated  “confidence in the on going development of the York Potash project” when anyone familiar with death spiral financing knows that it did no such thing and such arrangements invariably cause steep declines in the share price. 

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Decision day nearer for Sirius Minerals

Sirius Minerals (SXX), the ambitious company seeking to exploit the world’s largest and highest-grade deposit of the high-nutrient agricultural fertiliser Polyhalite, has withdrawn one of its planning applications for the project, in the North York Moors National Park, for ‘re-tweaking’ and re-submission. But managing director Chris Fraser is still pushing ahead with off-take deals to help fund the £1 billion-plus York Potash project and the company, which hopes to be in production by 2018 if all now goes well, insists it could have the green light by May and then be on its way from a quote on AIM with a £182 million stockmarket value to membership of the FTSE 100 share index of the most heavily-capitalised companies in Britain.

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