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Sirius Minerals Posts Wider Operating Loss In H1 - Quick Facts

Sirius Minerals Plc (SXX.L) said its operating loss for the six-month period ended 30 June 2019 widened primarily driven by a greater level of corporate and sales and marketing costs incurred by the Group linked to supporting Stage 2 Financing efforts. The Group said it made significant progress across all construction sites and construction activities to date have progressed in line with 2019 full year guidance.

For the first-half, loss before tax was 3.1 million pounds compared to a loss of 96.3 million pounds, previous year. The Group said the reduction in loss was primarily driven by fair value gains attributable to derivative instruments in comparison to the fair losses incurred on these in the prior period. Loss per share was 0.47 pence compared to a loss of 2.10 pence, prior year. Operating loss widened to 14.3 million pounds from a loss of 10.8 million pounds, a year ago.

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