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SRUXF - Sirius Minerals Has Failed In Fund Raising - There's No Obvious Way Back From Here
Sirius Minerals Plc Ord
Sirius' Basic Problem
Sirius Minerals (SRUXF) has been attempting to open a mine for a slightly new variation on potash mining, a mineral called polyhalite. The deposit they have access to is large - the largest known of this particular mineral. But there are two basic problems here, the first and lesser being that it is a variation on the current industry standard.
The second and more important being that they've got to raise significant finance to be able to construct and open. They've just announced that those fund-raising efforts have failed.