One of Britain's largest and most ambitious civil projects yesterday was an unlikely savior in the shape of Australia's richest woman.
Not only does Sirius Minerals dig a mile underground to unlock the potash bounty in the Woodsmith Mine, near Whitby, North Yorkshire, but now tunnels them 23 miles to the Tees River, where she builds an export terminal for artificial fertilizer.
Projects of this size are not cheap. All in, the development costs are more than £ 3 billion – and seem to rise by the day.
Step forward Gina Rinehart, who pumped a much-needed £ 190 million to close a financing gap caused by rising overheads.
The richest woman in Australia, Gina Rinehart, pumps a much-needed £ 190 million into Sirius Minerals
Through its Hancock Prospecting company, the Australian MILLIONaire agreed to release the money as part of an agreement that was originally signed in 2016.
In exchange, Hancock gets a 5 percent cut in sales on the first 13 million tons of fertilizer that is shipped and sold.
The extra money would have to surpass Sirius, while raising more than £ 2 billion in debt financing, which it hopes to secure in the second quarter of next year.
The Sirius share increased by 1.7 percent or 0.46p to 27.54p.
Stock Watch – Tarsus Group
Tarsus Group saw its shares lose almost 4 percent yesterday.
It followed the £ 24 million fundraising business conferencing business when it bought the remaining 50 percent stake in its Mexican joint venture EJK Tarsus Mexico and took a majority stake of 75 percent in AMB Tarsus Exhibitions, a trade fair organization in Southeast Asia.
Tarsus finances the combined invoice by placing 8.9 million ordinary shares at a price of 270 p each.
The shares fell 3.36 percent or 10p, to 288p.
Shire was among the top of the blue-chip uprights after the Chinese regulators had become the last to approve the acquisition of £ 48 billion by Japan's Takeda branch.
After the acquisition has already been approved by US and Brazilian officials, it only needs the thumb up of the European Union and Japan.
Takeda was faced with criticism of the deal, which will tax it with billions of dollars in debt, but it has driven forward despite expected progress and expects it to be completed in the first half of 2019.
Shire shares rose 2.2 percent, or 96.5p, to 4486.5p.
This was largely a reflection of the FTSE 100, with the blue chip index adding 0.3 percent or 22.47 points to end the week at 7304.04.
Burberry shares were also in demand, up from 3.4 percent, or 70p, to 2153p, prior to the launch of the debut collection of the chief creative officer at London Fashion Week on Monday.
Riccardo Tisci, who designed the wedding dress of Kim Kardashian, became a member of the British luxury fashion brand earlier this year and replaces Christopher Bailey who held the position for 17 years.
The Footsie were reluctant to have two pharma giants when investors responded to their latest news.
Astrazeneca rose by 0.3 percent (or 15p) to 5645p, after the MedImmune biotechnology arm got the regulatory green light in the US for treatment for hairy cell leukemia.
Lumoxiti is approved by the US Food and Drug Administration and is therefore the first treatment option for the disease for two decades.
The shares in Glaxosmithkline fell by 0.8 percent, or 11.4p, to 1484.2p, as paperwork demanded the European supervisors to approve the HIV tablet with one tablet for sale in the EU.
Recent studies have shown that the one-tablet, two-drug treatment regimen is just as effective as the standard three-drug regimen.
As far as the FTSE 250 is concerned, it also closed the week in the black, rising 0.7 percent, or 132.26 points, to 20.375.87 points.
Petroleum explorer and producer Enquest was appointed by & # 39; Barclays analysts & # 39; if & # 39; too complicated & # 39; slammed, which doubted why debts should not be paid as quickly as it should. The shares fell by 3.2 percent or 1.2p to 36.75p.
By contrast, Morgan Stanley initiated the coverage of Hurricane Energy with a & # 39; considered & # 39; rating, with which he claims that the explorer has the potential to reward investors with a "very high payout & # 39;
That is if the start-up production of the company is good on the Lancaster field at the Shetland Islands, as planned, when it is put into operation in the first half of next year. The stock rose 4.5 percent, or 2.35p, to 54.5p.