25th Apr 2016 07:40
LONDON (Alliance News) - Sirius Minerals PLC on Monday said it remains focused on securing financing for its huge potash project in Yorkshire, as it posted its results for the nine months to the end of December.
Sirius secured planning permission from the relevant local authorities in 2015 for the key infrastructure required to start work on the North Yorkshire polyhalite project.
Sirius is proposing to initially build a project capable of producing 10.0 million tonnes of polyhalite per year for an initial capital cost of USD1.63 billion, before ramping up production to 20.0 million tonnes a year by spending a further USD1.93 billion.
The focus for the company is now on securing financing to back the work, and it said on Monday it remains confident it will be able to get the money, with debt funding likely to contribute the majority of the funds.
Sirius said its pretax loss for the nine months to the end of December was GBP7.5 million. The company changed its financial year to the calendar year in 2015, so the comparative figures provided cover the year to the end of March 2015. The pretax loss for that period was GBP10.1 million.
Sirius shares were down 0.4% to 17.18 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Sirius Minerals