SXX - Sirius Exploration PLC

[Q-Ball]

down today AGAIN - they need to start drilling soon or this will go back down to 2p! currently 9 on the bid, 9.5 on the ask.

[Spennyboy]

L2 shows a tick back up to 10p on the ask shortly.

There was a big buy of 500k once the price was moved to 10p yesterday. I personally think its being squeezed a bit more and were see another couple of big buys go through soon.

Its very horrible watching it tick down, im trying to stay away from the monitor.

[Spennyboy]

9 minutes later...,there we go, 10p

Buys starting to come back in, LIBC/WINS at 10.50.

Another tick up soon.

Honestly, anyone trading a decent amount of cash without L2 is insane.

[Q-Ball]

gotta ignore this, its giving me a heart attach. cuurent price is down to 8.75 - bid of 8.5 and ask of 9.5! 1p spread.

[Spennyboy]

Hmmm difficult situation this really.

We all know its an RNS away from shooting up, something about drilling, production or any other suprise. So it pains me to be out of the share, but at the same time seeing it go into negative is not nice.

Seeing as the whole market is down i am quite calm in the fact that everything should recover eventually and it was always a long term hold. So really i shouldnt be watching this every day and should not be aware of todays dip.

I'll have to remember that this company was in a position of 12-15p with some big company changes and has been pushed hard down on low volume.

Also that a 500k buy went through yesterday as soon as it hit 10p.

Glad its over for today... its going to be a really hard week though.

[Geko]

I am in this for the long term. But if it falls much more I am going to have to find some money to top up. I dunno where from, but it's a must. Even if all they use the land for is Potash I believe this is more than a 9p a share company.


On a side note. My portfollio fell 22% these last 2 weeks.

[Sanj[UK]]

Hmmm difficult situation this really.

So it pains me to be out of the share, but at the same time seeing it go into negative is not nice.

Mate did you not just buy a grand of these? or did you post in the wrong thread?

[Spennyboy]

The post came across wrong, ment to mean that usually my "rules" of trading would have me sell out if I can see the sp dropping as obviously to preserve profit and ride the wave, however because sxx could release a rns at 7am at on any morning and open 10-20% higher it's not worth risking my current position and be forced back in higher. That said, watching profit go and loss build up sucks, but that's the way of the game.

I'm still very much in and topped up yesterday. Along with everyone else I'll keep adding till the company releases info to make me think otherwise. Whole Market is going through a so called 'correction'. I'm just gonna ride it out.

Sorry for any confusion.

[super mike]

RNS:

CORPORATE UPDATE

The Directors of Sirius Exploration Plc (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused on North America and Australia, are pleased to provide Shareholders with the following Corporate Update.

The Directors confirm that on 22 October 2009 an agreement was reached with CIC Mining Resources Limited (CNSX:RRR) ("CIC"), a leading China based royalty company listed on the Canadian Stock Exchange, to acquire Sirius's 3% Net Working Interest (NWI) in the Bobai Bishop Tungsten Mine (the "Tungsten Interest") in China (as previously announced on 11 November 2008).

The Tungsten Interest is a relatively illiquid asset of the Company which is non-core. Under the terms of the Agreement, CIC will acquire the Tungsten Interest for 200,000 pre- IPO B Class shares valued at US$2,470,000 in a CIC vehicle - to be called IMG Group ("IMG") - which CIC is intending to list on a major exchange during the first half of 2010. IMG will comprise of CIC's iron ore interests that currently include production in China and exploration assets in Africa and South America. CIC has already established the share capital for IMG by creating separate B Class CIC shares. Neither the Tungsten Interest nor IMG are profit making at this stage.

Pursuant to the terms of the transaction Sirius is also acquiring an additional 100,000 CIC B Class shares in exchange for the issue of 6,000,000 Ordinary Shares of 0.25p ("Ordinary Shares") in Sirius at a price of 12.5p per Ordinary Share, an effective price of US$0.2058 per Sirius share. In total Sirius will hold 300,000 CIC B Class shares

Application has been made for the 6,000,000 new Ordinary Shares, representing 1.00% 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 4 November 2009. Following completion of the transaction, Sirius will have an issued share capital of 606,730,150 Ordinary Shares.

Richard Poulden, Chairman of Sirius, commented:

"The Board of Sirius believes IMG offers an efficient mechanism for exchanging our illiquid legacy tungsten interests for shares in an attractive sector company with plans to IPO in the first half of 2010, allowing Sirius to focus on its salt and potash activities."

--Ends--

[super mike]

Buy price is up to 10p already.

[Spennyboy]

Shocker, aye

More proof than ever to just sit back and let SXX do its thing.

[super mike]

I spent a lot of my day trying to find info, but kept getting booted (oops) so didn't really get any decent info but Sirius now holds 300k of these:
B class shares (Iron Ore)
Par value $32.00 per share

Interestinger and interestinger.

[Q-Ball]

so, how much lower do you think we can go? long term i still have every confidence in the share, and am considering topping up at this price, however, it is goes down even more i will kick myself! averaging a 9.5p so am down overall. Bid 7.0, ask 7.25.

[Sanj[UK]]

I reckon it will be steady at 6.5p then il buy back in..im glad i sold at 15p

[Spennyboy]

bounced of 7p twice now so looks like its holding there at the moment. Soon as we got down to 7p buys started flurrying in.

Last time i looked we had dropped to 7p on vol of 300k...yet 500k buy moves it now where - says it all really.

Remember it was the 6-8p range that it got stuck on for weeks before, then spiked to 12-15.

[snorty1uk]

Issue of equity notice at 5:22 this evening!

As below

TIDMSXX

Issue of Equity




For immediate release
10 November 2009


SIRIUS EXPLORATION Plc
("Sirius Exploration" or "the Company")

Issue of Equity


Further to the issue of a total of 2,631,442 options to Old Park Lane Capital Plc in July 2009, Sirius
Exploration announces that it has received an Exercise Notices in relation 250,000 of these options.
Therefore, the Company has issued and alloted 250,000 new Ordinary Shares of 0.25p per share
("Ordinary Shares") at 4.5p per share whereby raising a total of GBP11,250. The monies will be used for
general working capital purposes. Following this exercise the Company has 3,691,442 options and
warrants outstanding.

Application will be made for the 250,000 new Ordinary Shares, which will rank, pari passu, with all
existing ordinary shares, to be admitted to trading on AIM and trading in such shares is expected to
commence on or around 16 November 2009.

Following the issue of the new ordinary shares as set out above, the total number of shares in issue
will be 607,191,340.

ENDS

Further Information:
Richard Poulden
Chairman, Sirius Exploration Plc. Tel: +971 556 232 672
richard.poulden@siriusexploration.com

Jonathan Harrison (Financial Director) Mobile: + 44 78 7988 7755
Jonathan.harrison@siriusexploration.com

Beaumont Cornish
Roland Cornish Tel: +44 (0)20 7628 3396

Gth media relations
Toby Hall Tel: +44 (0)20 7153 8039
Christian Pickel Tel: +44 (0)20 7153 8036

Website: www.siriusexploration.com


Sirius Exploration

(END) Dow Jones Newswires
November 10, 2009 12:22 ET (17:22 GMT)

[Zippeyrude]

further dilution

[Spennyboy]

Guys whats the problem?

I see several of you posting "Im in for long term" etc. yet keep moaning about dips?

You have to look at the bigger picture here for the moment. When i first posted this it was a tiny share at 3-5p with some good ideas. A tiny market cap and a handful of share in circulation.

Here we stand a couple of months on, after having aquired Dakota Salts, Queensland, Canadian Potash etc - the market cap is now increased huge in such a small amount of time and same story for shares in issue.

Calculations on financials aside, you should know trading AIM stocks is dependant on news. At the moment Sirius are building a plan for the future and as a company are looking in a very strong postion - however they currently have no proven income or released any info regarding what they plan to do with all the puzzle pieces they now have. So of course its going to drop - the thing with SXX is they can release the news at any moment which would make it fly which is why im so hesitant to sell up. Look at the major shareholders listed at the moment and ask why they are not selling.

If you invested truly for long term - then it shouldnt matter if this hits 3/4p again - yeah it will sting but if the company fundementals have not changed from when you bought at 14p then all your basing your 'fear' on is the market?

And once again you should know the market is there to be traded, not to dictate when to trade. I suggest there are a few of you holding now who should sell up and invest in Marks and Spencer or something big and safe, because your playing the wrong game here.

[Geko]

Guys whats the problem?

I see several of you posting "Im in for long term" etc. yet keep moaning about dips?

You have to look at the bigger picture here for the moment. When i first posted this it was a tiny share at 3-5p with some good ideas. A tiny market cap and a handful of share in circulation.

Here we stand a couple of months on, after having aquired Dakota Salts, Queensland, Canadian Potash etc - the market cap is now increased huge in such a small amount of time and same story for shares in issue.

Calculations on financials aside, you should know trading AIM stocks is dependant on news. At the moment Sirius are building a plan for the future and as a company are looking in a very strong postion - however they currently have no proven income or released any info regarding what they plan to do with all the puzzle pieces they now have. So of course its going to drop - the thing with SXX is they can release the news at any moment which would make it fly which is why im so hesitant to sell up. Look at the major shareholders listed at the moment and ask why they are not selling.

If you invested truly for long term - then it shouldnt matter if this hits 3/4p again - yeah it will sting but if the company fundementals have not changed from when you bought at 14p then all your basing your 'fear' on is the market?

And once again you should know the market is there to be traded, not to dictate when to trade. I suggest there are a few of you holding now who should sell up and invest in Marks and Spencer or something big and safe, because your playing the wrong game here.

The more it drops the harder I find it to take some of my other money and stick it in sirius. If it's still low in January I will make a large buy... Well.. Large for me.

[Spennyboy]

The more it drops the harder I find it to take some of my other money and stick it in sirius. If it's still low in January I will make a large buy... Well.. Large for me.

Dont worry I fully appreciate that. I tend to invest as soon as possible after some good news - i know your loose a bit of ground but at least you know your in the rise.

On a side note, i assume all who have invested didnt go in heavy in 1 purchase. You should always break it up into smaller chunks and trade with the flow on aim - just in case tide turns against you.