Sirius falls on York assay results

Sirius Minerals, the firm looking to develop a potash mine near York, has described new assay (test) results at the site as 'strong'.

One of the holes being drilled showed "a consistent overall seam thickness compared to the "mother" hole with approximately 50m total polyhalite mineralisation."

Other drilling is described as "progressing well".

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Chris Fraser, Managing Director and Chief Executive Officer of Sirius said: "These assay results of the third new hole of the York Potash drilling program have delivered yet another thick intersection of high-grade polyhalite in the Shelf Seam."

He added: "These assays continue the strong results obtained from the drilling program, and combined with the results of the Detailed Scoping Study confirm the world-class nature of the York Potash Project."

The market wasn't impressed however, Sirius's stock had dropped 2.3% by 12:00.

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.