Sirius - SXX

Taxpayer backing for loan to Moors potash operator Sirius Minerals

www.thetimes.co.uk/article/taxpayer-back...s-minerals-jq6gcpqn0

Taxpayers are set to stand behind a large chunk of a £2.2bn loan for Britain's biggest-ever mine.

Sirius Minerals, which owns a giant potash deposit in North Yorkshire, is in talks with the Treasury to guarantee the loans it needs to complete its project.

Under the deal, the Treasury's infrastructure fund would underwrite a portion of the fundraising, in return for a fee. Last year Sirius secured $1.2bn (£900m) of investment to begin digging.

The company plans to raise £2.1bn of debt next year.

The mine is set to deliver nearly £4bn in dividends to local landowners over the coming decades, including the Queen and the North York Moors national park this year."

Thanks, very informative.

I was tempted to buy some today....

sxx - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...c2s6JPn/sL76crg45iw=
Hi Paitech,

Yes i think this should make its way lower, certainly i see no reason to have a long position here atm...

Off course its always the case, that bearish looking stocks, can turn around and become bullish, if we get some kind of positive news for instance....

In the case of sxx, this is a falling wedge, which is actually a bullish falling wedge, but you have to wait for a turn around before committing to a position....

I see no signs from the rsi, of a that happening atm....so patience is the key here....

each of the 3 lines, and the trendline, plus some horizontal resistance levels.....so quite a few resistance overhead to break between 25.5p and 27.5p.....

If i see anything i will try and post it here asap, as i'm looking to buy this as well....

atb, wdik, dyor,
trendfriend

TF,
Are you still expecting this to go down?
I am holding back to buy back
Ta
G

Thanks TF.
I am not sure , how this news will affect the share price.

www.gazettelive.co.uk/business/business-...-talks-over-13615726