SXX - Sirius Exploration PLC

[super mike]

Oh and supposedly there is a flurry of delayed trades. Should make things interesting if true.

[Spennyboy]

Oh and supposedly there is a flurry of delayed trades. Should make things interesting if true.

Don't read in to that to much. Delayed trades are fairly easy to spot. Some people just don't like to admit there are sellers. Which this share had a few of today. Prob for no reason other than they need the money opposed to everyone getting stroppy that the share is a dog. If big sells happen fast and the sell volume is high then worry. If the price is crashing on 200k. Go make a tea and come back later, it's a tree shake.

Remember that AIM stocks are heavily manipulated, but not half as much as many of the rampers would have you believe. Best way to trade over the short term isto get L2 and judge the book for yourself. Otherwise if your research is good just turn the monitor off and chill.

[super mike]

Don't read in to that to much. Delayed trades are fairly easy to spot. Some people just don't like to admit there are sellers. Which this share had a few of today. Prob for no reason other than they need the money opposed to everyone getting stroppy that the share is a dog. If big sells happen fast and the sell volume is high then worry. If the price is crashing on 200k. Go make a tea and come back later, it's a tree shake.

Remember that AIM stocks are heavily manipulated, but not half as much as many of the rampers would have you believe. Best way to trade over the short term isto get L2 and judge the book for yourself. Otherwise if your research is good just turn the monitor off and chill.

I am not in this for the short term, it's just fun to speculate for the short term. Keeps me occupied at work.

[Geko]

Yep. I am happy this is a good company going in the right direction. I also feel confident in the other stocks I hold and I am in all of them for the long term.

If I had the money I would top up everytime it gets near 11, but I don't at the mo. Maybe in Jan.

[Sanj[UK]]

I wish i had some spare cash at the mo..10.53p!

[Spennyboy]

Its a joke aye.

Last time we went this low i shit a brick - this time its obvious whats happening.

Gutted.

[Q-Ball]

Its a joke aye.

Last time we went this low i shit a brick - this time its obvious whats happening.

Gutted.

MM's pushing down for a big buy?

edit - still 11.5 on the ask! hate the huge spread.

[Spennyboy]

MM's pushing down for a big buy?

edit - still 11.5 on the ask! hate the huge spread.

Maybe, or just pushing it down because they can and know it will shake out nervous PIs.

Fact is we were at these levels before the last couple of bigs news annoucements.

Unfortunately this is the way SXX will be for a good while yet, news - spike... then walked down.

Unless they keep up some fast news flow or release something substancially financial and not another shares issue which dispite being a good thing in the long run deters investors in the short.

[Zippeyrude]

i have read this thread with great interest and have been tempted to make a punt myself.

after having read one of the notes regarding 'alternative energies' my eyes rolled and i began to wonder whether this is a milking exercise. at least thats what i thought i read.

/OT. spenny, at some point i may rack your brain on how best to make a few purchases if thats ok

[Spennyboy]

i have read this thread with great interest and have been tempted to make a punt myself.

after having read one of the notes regarding 'alternative energies' my eyes rolled and i began to wonder whether this is a milking exercise. at least thats what i thought i read.

Anyone who is looking to invest should be realistic and expect to not have their money back with any great return for at least 12 months. Anything short of that will most likely still be baby steps.

Im going to keep topping up as much as possible until i read something that makes me think otherwise. No matter what someone tells you, your have to read the facts and figures and come to your own decision.

As we learning now SXX spread is very wide and resistance at 15p is huge at current levels.

/OT. spenny, at some point i may rack your brain on how best to make a few purchases if thats ok

If you ever wanna chat just drop me a PM and i'll be glad to help if i can, goes for any DF'er.

[Q-Ball]

i too will continue to top up - it is a long term game, and it is risky as this is an "alternative" energy market, but good news is always about!

http://www.sys-con.com/node/1154264#

[Geko]

I'd be looking to top up now if I had the cash.

[Spennyboy]

Lets see what happens today with this news... yet another company under their wing.

For immediate release: 23 October 2009, 7AM

SIRIUS EXPLORATION Plc


("Sirius Exploration" or "the Company")


Acquisition of Derby Salt Pty Ltd

Sirius Exploration Plc ("Sirius" or "the Company") announces that it has acquired 100% of the ordinary shares in Derby Salt Pty Ltd ("Derby Salt") for a consideration of £13,000,000. This consideration has been satisfied by Derby Salt's shareholders accepting 100,000,000 new Ordinary Shares of 0.25p ("Ordinary Shares") in Sirius at a price of 13p per share. Following completion of the transaction, Sirius will have an issued share capital of 600,730,150 Ordinary Shares.
Application has been made for the 100,000,000 new Ordinary Shares, representing 16.65% of Sirius's enlarged issued share capital which will rank pari passu with the existing ordinary shares, to be admitted to trading on AIM and trading is expected to commence on 28 October 2009.
As a result of the acquisition and issue of the consideration shares The Catlow Family Trust will have a beneficial interest in 100,000,000 Ordinary Shares representing 16.65% of the Company's issued share capital.
Information on Derby Salt
Derby Salt Pty Ltd, a privately held Company incorporated in Western Australia and based in Perth, Western Australia, holds mineral leases in excess of 125,000 hectares in the Kimberley region of Western Australia, allowing for the exploration and extraction of salt and potash and the creation of caverns for the storage of natural gas or potentially carbon dioxide.
Derby Salt has not traded and has published no Accounts. A valuation or competent person's report is not required for this transaction. Following the acquisition of the controlling interest by Sirius, the Company is to commission a report on the storage cavern and mineral potential.
The Kimberley region of Western Australia overlies The Canning Basin which based on existing seismic data
gathered over several decades is considered to contain vast evaporative salt accumulations. After a recent

detailed review of all available data Derby Salt has identified and secured ground that it believes to have the most prospective potential to host economic potash deposits. If successfully delineated, it is proposed that these deposits will be solution mined. The potash is targeted in the Mallowa Salt unit of the Carribuddy Group within the Ordovician sediments in the Canning Basin. In Derby Salt's tenements the Mallowa Salts are around 450 metres thick with the top at a depth of approximately 550 metres below the surface. The tenements are approximately 200km south-east of Broome and between 100 and 150km south of Derby.
Separately, there are advanced plans to pipe natural gas to shore close to both Broome and Derby and a large coal deposit is being developed immediately north of Derby Salt's tenements. Sirius believes that in addition to extracting salt and potash from the tenements, there is considerable potential in using the Derby Salt acreage to create salt caverns to store natural gas and potentially carbon dioxide. In addition to the placings undertaken earlier this year, the acquisition of AusPotash, as previously announced, has provided the Company with additional funding of $2m which, together, provides the Company with sufficient cash resources for its current programme.
Reasons for the Acquisition
The transaction provides Sirius with another wholly owned subsidiary company which the Directors of Sirius believe has major potential to establish a conventional salt and potash mining operation with additional opportunity to further the Group's related initiatives in Australia and North America. This purchase completes Sirius' current round of land acquisition. The Company now has well positioned acreage in Queensland, Western Australia and North Dakota, all of which is suitable for the Company's delineated areas of business: potash extraction, salt extraction and energy storage.
Background on Sirius
Sirius is quoted on the AIM market of the London Stock Exchange in London and its shares are also traded in North America through the use of an ADR facility. Sirius currently has interests in potash and salt caverns through its subsidiaries Dakota Salts LLC and Auspotash Limited. It also has copper and gold interests in Macedonia and a royalty interest in a tungsten mine in China.
Richard Poulden, the Chairman of Sirius, commented:

"The acquisition of Derby Salt is another step on our journey to create an international company investing

in areas of the world where the directors believe there are significant growth opportunities. We believe that the demand for potash, salt and energy storage will increase worldwide and the acquisition of Derby Salt in Western Australia will complement our similar activities in North Dakota and Queensland." --Ends--

[Geko]

I really want to top up. It's criminal not to. I just don't have any cash.

[super mike]

Very interesting, a very large acquisition. Reason for the walk down of the sp over the last week?

[Geko]

Very interesting, a very large acquisition. Reason for the walk down of the sp over the last week?

I think the share price was always fixed at 13p. I expected the price to drop from 14p to 13p. Didn't think it would drop under 11p. Still... We are in for the long haul. When mining commences the sp will rise. Profit should be significant... And if we hold for the energy storage (providing all goes smoothly as planned) we should see greater rises. I have put money in I can afford to lose. Don't really want to, but it won't affect my lifestyle.

[Sanj[UK]]

asking price is now at 10.9...

[Spennyboy]

SXX needs to make some money or get some drilling going.

Till then they can take over the world and it wont have a difference.

[Roach-Rampino]

I have put money in I can afford to lose.

Personally I believe that's the only type of money that you should put in.

Let's face it, there's people out there who have degrees in finance, are paid to sit all day and research the companies that they are investing in on behalf of their investors and also have a huge amount of information available...that we as personal investors do not. It puts us at a massive disadvantage and therefore reduces the process to nothing more than gambling.

[Q-Ball]

another peice added to the puzzle. This all revolves around energy storage - if it works, this really will explode to unpresedented highs - if not, it will be the worlds leading provider of potash - Once the world is out of recession, it will increase but no where near to what people hoped if the energy storage worked out.