EXPLORATION & DEVELOPMENT

Sirius fairly valued, on balance

Sirius Minerals has had a strong 2016 so far and a particularly strong past couple of months. Having started the year in the doldrums with the rest of the resources world, by early May the industry-wide rising tide had swept the stock up almost 90% to more than £0.20 (US$0.27). After announcing a reduced capex bill for its North Yorkshire polyhalite project (England) in June and receiving the final permit in mid-July, the stock ran up another 180% to more than £0.45.