Defining period set for Sirius Minerals
THE chairman of Sirius Minerals says the year ahead will be a defining period for the group.
The company behind plans for a huge potash mine near Whitby will submit its application for its mine at the end of September, after delaying it to provide a more “robust” determination process for the two main applications for the York Potash Project.
In its results for the year ended March 31 2014, pre-tax losses shrunk to £10m from £14.6m in the previous period and the group’s year-end cash and cash equivalents position was £48.4m up from £18m. The group’s loss for the year was £8m, slightly reduced from £8.6m in 2013.
Chairman Russell Scrimshaw said: “It is said that ‘what doesn’t break you makes you stronger’ and despite the disappointment of the delays to the mine planning application for the York Potash Project in 2013, we are emerging with an even stronger planning case and environmental statement as well as with further strengthening of our business and project plans.
“The year ahead will be a defining period for the group, but it is only a step on our way to fulfil the group’s true potential. We have a strong belief in our strategy and if it proves to be correct, the year ahead will be one that will see substantial value creation for our shareholders. You can be assured, as ever, that our entire team is focused on achieving that goal.”
