|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0430 - 0.0430|
|52 Week Range||0.0106 - 1.2450|
|Beta (3Y Monthly)||1.67|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Sirius Minerals shares, which were hit last month after the UK potash miner pulled a $500m bond sale, rallied almost 10 per cent following its announcement of a supply and distribution agreement with a fertiliser company owned by the Qatar state. Sirius said it was working with Muntajat to explore combining the UK group’s product made from the mineral polyhalite, with nitrogen products to create a multi-nutrient fertiliser. Sirius shares, which more than halved last month on the bond news, were trading at 3.7563p.
Sirius Minerals scrapped a plan to raise $500 million in a bond sale on Tuesday, delaying a project to mine for fertiliser under a national park in northern England and halving the value of its shares. Sirius blamed market conditions aggravated by uncertainty over Britain's departure from the European Union for its failure to secure funding. Sirius said on Tuesday the government had turned down a renewed request for backing in August.
Sirius Minerals opted to press on with a more complex and expensive funding package to develop its giant potash mine in Yorkshire to avoid a longer wait for government-backed financing, a source familiar with the deal told Reuters. Sirius had planned to secure a debt financing package for the $3 billion (£2.3 billion) Woodside project - one of the largest mines to be built in Britain for years - from the government, with the rest funded by the market. The mine has been touted by British Prime Minister Theresa May as the kind of project that fits "the northern powerhouse" -- a government scheme to boost investment and jobs in the north of England.
Sirius Minerals plc shares fell almost 8 percent on Wednesday after the company announced it had raised $425 million to finance the next stage of its polyhalite mine in North Yorkshire. Sirius's share price was down 7.7 percent at 16.08 pence by 0709 GMT after the company said it will issue 1.97 million new shares at 15 pence per new ordinary share, a discount of around 32 percent to Tuesday's closing price. It also issued a total of $644.2 million (£493.9 million) of convertible bonds due between 2023 and 2027, which will carry a yearly cash coupon of 5 percent and will be redeemed at maturity with a 10 percent yield.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Plans for a giant fertiliser mine ...