Potash explorer Sirius Minerals' new finance director Andrew Lindsay has invested £99,000 in the company following his appointment.
Lindsay was appointed on the same day that Sirius announced its acquisition of York Potash. He was previously finance director of AIM-quoted European Nickel.
He has acquired 582,352 shares at an average share price of 17p. This gives him 0.07% of Sirius Minerals.
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
The company issued 150m shares to acquire York Potash, which has mineral rights covering 600 square kilometres onshore and offshore in the Whitby and Scarborough areas. Sirius Minerals will also repay a £176,000 loan. The main asset of the business is the agreements with major landowners in relation to mineral rights.
The mineral rights include potash and rock salt. There has been exploration in the past and large exploration targets have been identified. Management believes that there could be a significant potash resource in the form of polyhalite and potassium chloride.
York Potash's founder Chris Fraser has become chief executive of Sirius Minerals.
Top Director Buys
Atlantic Coal (ATC) Director name: Mr Adam WilsonAmount purchased: 62,500,000 @ 0.65p Value: £406,250
Sirius Minerals (SXX) Director name: Mr Andrew M LindsayAmount purchased: 582,352 @ 17.00p Value: £99,000
VinaLand Ltd. (VNL) Director name: Mr Don Di LamAmount purchased: 100,000 @ $0.99 Value: $99,500
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) Director name: Mr Don Di LamAmount purchased: 50,000 @ $1.93 Value: $96,500
@UK (ATUK) Director name: Mr David HollowayAmount purchased: 80,387 @ 12.44p Value: £10,000
Top Director Sells
Atlantic Coal (ATC) Director name: Mr Adam WilsonAmount sold: 85,000,000 @ 1.79p Value: £1,521,500
KEFI Minerals (KEFI) Director name: Mr Ian Rutherford PlimerAmount sold: 800,000 @ 10.00p Value: £80,000
KEFI Minerals (KEFI) Director name: Mr Ian Rutherford PlimerAmount sold: 800,000 @ 8.67p Value: £69,360
KEFI Minerals (KEFI) Director name: Mr Ian Rutherford PlimerAmount sold: 750,000 @ 8.43p Value: £63,225
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
