Good progress being made at Sirius's York project
AIM-listed potash development group Sirius Minerals rose on Friday morning after saying that drilling progress has been made its York Potash Project in North Yorkshire.
AIM-listed potash development group Sirius Minerals rose on Friday morning after saying that drilling progress has been made its York Potash Project in North Yorkshire.
The group's third hole at the project, SM3, has made "good" progress and the final casing has now been inserted in preparation for coring. Final casing depth was reached in just 10 days, compared to 40 days at the second bore hole, SM2. "Current work to date at SM3 has been free from the fluid loss zones and the resultant delays experienced at SM2."
Sirius announced back in December that drilling progress at its 'SM2' site had been slowed by a series of fluid loss zones which have been encountered as the hole approached commencement of coring depth. On January 23rd, the group announced the completion of coring at SM2.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are delighted with the progress on SM3. This has helped us to claw back some of the time and budget we had to put aside after the experience at SM2," said Managing Director and Chief Executive Officer Chris Fraser.
"Our experienced and professional team is continually adapting its approach to help ensure the drilling work is delivered as quickly and as efficiently as possible."
Shares were trading 1.23% higher at 20.5p in the opening minutes.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best properties for sale with communal gardens
The best properties for sale with access to communal gardens – from an apartment in a listed building opposite London’s Hyde Park, to a wing of a mansion with access to 180 acres of parkland in Henley-upon-Thames
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency