Sirius Minerals, known for exploring potash, latest finance director Andrew Lindsay has invested £99,000 in the group after his selection.

Lindsay was employed on the similar day that Sirius declared its acquirement of York Potash. Previously, he was finance director of AIM- cited European Nickel.

He has obtained 582,352 shares at a standard share price of 17p. Sirius Minerals is offering him 0.07%.

The group released 150m shares to obtain York Potash that has mineral privileges wrapping 600 square kilometers aground and offshore in the Scarborough and Whitby areas. Sirius Minerals shall in addition reimburse a £176,000 loan. The major asset of the business is the accord with most important landowners in connection to mineral privileges.

The rights to mineral comprise rock salt and potash. There has been investigation in the previous and huge exploration aims have been recognized. Management feels that there can be a noteworthy potash reserves in the shape of potassium chloride and polyhalite.

York Potash's originator Chris Fraser has become chief executive of Sirius Minerals.