Sirius Minerals down to last chance as investors shun risky mining project
UK mining company Sirius Minerals has put its hopes of survival on getting a high yield bond away in September after it postponed a deal earlier this week. But investors are skeptical about the firm's chances. Sirius will run out of money by the end of September and its $3.8bn financing package will turn void on October 30.
Without the financing in place, Sirius cannot continue constructing the mine — and it has no other operations and has so far generated no revenue.Sirius is not only required to complete the 7.5-year $500m ...
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