Sirius Minerals Delays Feasibility Study for York Potash Project

Sirius Minerals (LSE:SXX) reported on Wednesday that it would complete its feasibility study for the York potash project by March 2016 instead of by the end of January 2016, as was previously planned.
As quoted in the press release:

The completion of a DFS for such a large scale project is a very detailed process and there is a large amount of complex information from various suppliers, consultants and engineering firms that needs to be compiled, reviewed and then integrated into the final DFS.  While this process is time consuming, it is vitally important for a project with an expected life of over 100 years that it is robust.

In addition to the finalisation of the DFS the Company is moving towards the selection of preferred tenderers for the three initial critical path components for project implementation, being site preparation, mine shafts and the mineral transport system.  Tender information is being used in the completion of the DFS and is providing important and current contractor inputs into its finalisation.

The Company is confident that the final DFS will define a world class project that will be best in class in many aspects.  Based on the final DFS the Company is confident that it will execute a financing strategythat will bring the Project into production and deliver significant value to shareholders.

Sirius managing director, Chris Fraser, said:

We are continuing to build a very robust business that will be capable of strong returns throughout the many cycles it will experience over its +100 year life.  We thank our shareholders for their patience as we finalise the DFS and look forward to announcing its findings in due course.

Click here for the full press release.