cap raising, page-47

Shareholder approval is required if Creasy is to exercise his remaining 31 million options as his holding will go over the 30% (correct me if I'm wrong) individual limit and have to launch a takeover bid. A small of probably 10 million CR eliminates that requirement of a general meeting and provides the necessary funding to continue drilling till he either sells a parcel on market before exercising or requests approval at AGM when the extent of Nova is confirmed or otherwise.

An interesting point is that diamond drilling at Fraser and other sites is co-funded by the WA government a sound reason for a small placement only.

http://www.siriusresources.com.au/documents/SiriusASXannouncement-111025-Nickel-copper-cobaltinfirstdrillingattheEyeprospect.pdf

Trading will be interesting when the halt is lifted a good result from overdue assays at Polar Bear would be icing on the cake.