Sirius hails success of potash drilling

Sirius said it had made a pre-tax loss of £2.3m in the six months to September 30, up from £1m the previous year.

The company said initial results from its first drill hole at York Potash showed one of the world’s single largest potash intersections ever reported.

The group was recently awarded up to £2.8m from the Government’s Regional Growth Fund.

Chairman Chris Catlow said: “Sirius continues to make significant progress towards its goal of becoming a major potash producer. The outstanding initial results of our first hole at the York Potash Project have validated our confidence in the quality of the project.

“We are all looking forward to delivering similar results for future holes in the drilling program-me.”

The group has appointed Graham Clarke as operations director.