re-posting

Is this Mark Creasy Backed ASX Stock the Most Highly Leveraged to a Nickel Discovery?

WRITTEN BY: Meagan Evans

PUBLISHED: 03-03-2020

Sirius Resources shot to fame in 2012, when it discovered the Nova nickel deposit in the Fraser Range south-east of Kalgoorlie in WA.

The stock rocketed ~10,000% in a matter of months as Sirius went on to hit not one, but two mammoth nickel deposits. Sirius was trading at 5.7c the day before the discovery, before it rose to 99¢ in just days, then surging to $5.00 in the months to come.

The Nova discovery single-handedly brought the Fraser Range to life, and triggered the stunning share price rise that saw Sirius go on to reach a $1 billion market capitalisation by March 2013.

Just over two years later and Sirius rounded out its success story and was acquired by Independence Group (ASX:IGO) for $1.8 billion.

Sirius’ original discovery is now the Nova nickel-copper-cobalt mine, a 14.4Mt @ 2.3% Ni, 0.9% Cu resource.

The Nova mine area was first pegged by famed prospector, Mark Creasy, in the 1990s, who maintained a 35% interest in Sirius once it took the project on and today remains major shareholder of IGO — the now owner of the Nova mine.