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Sirius Minerals more delays – when is the cash call?

Tom Winnifrith
Friday 19 July 2013

There are delays and more delays in North Yorkshire for AIM Cesspit listed Sirius Minerals (SXX). The company says that it has £10 million cash left but if there is no planning approval until 2014 it is only a matter of time before the hat is passed around again and at what price will that be?

I note that the company has not said what trade payables are. So what is the REAL cash position? I wonder.

I have been bearish on this stock for a while and have been right to be bearish. The stock is now 19.25p at what price could it raise money just to keep going, let alone to fund its proposed mine? 15p? 12p? I do not know. But I would remain very short of this one.

I am not the only sceptic.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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