If they hit what they're looking for at Doolgunna the increase...

If they hit what they're looking for at Doolgunna the increase of Red Bore from 60% to 90% is a good move for future debt funding of the company, as they then only have a 10% payout to Richardson to get full full ownership and less complications forward

Sirius have only recently moved Creasy out from a 30% joint ownership into cash and shares



"The most exciting recent discovery in Australia's mining sector is a step closer to being developed, after nickel junior Sirius Resources took full ownership of the Nova and Bollinger deposits in WA.

Nova and Bollinger took Sirius from a 5¢ stock to $5 over 2012 and 2013, after they were discovered in partnership with well-known geologist Mark Creasy.

Ownership of the prospective acreage was split between Sirius and Mr Creasy but Sirius yesterday bought out Mr Creasy's 30 per cent share with a cash and shares deal worth about $188 million.

Mr Creasy agreed to take $28 million in cash and just over 70 million Sirius shares, which Sirius boss Mark Bennett said was a demonstration of his faith in the project.
"This makes the next phase easier, we now have total control over our destiny," he said.

Mr Bennett said he was in talks with banks over funding further development of the mine, and simplification of the ownership structure would make that process easier to complete.

Shares in Sirius rose 13¢ to $2.40 and Macquarie said simplification of Mr Creasy's involvement should see the shares trade higher."

Read more:
http://www.smh.com.au/business/mining-and-resources/sirius-resources-buys-out-mark-creasy-to-take-full-ownership-of-nova-and-bollinger-deposits-20140214-32rek.html#ixzz2yU3MEkPU