SIR 0.00% $2.52 sirius resources nl

snippet in the west australian

  1. 557 Posts.
    http://au.news.yahoo.com/thewest/business/a/-/national/14491714/drill-rig-aims-to-flesh-out-sirius-nova-ore-body/

    "A diamond drill rig will arrive at Sirius Resources' Nova project this weekend as the Perth junior tries to continue the exploration success that has attracted national headlines and reminded investors not all is doom and gloom in mining land.

    Depending on the outcome of drilling over the next fortnight at Nova, north-east of Norseman on the western fringes of the Nullarbor, Sirius will make a decision on whether to pursue a big-ticket multi-rig program to try to flesh out the area's potential as sparked by last month's discovery hole, which intersected 4m grading 3.8 per cent nickel and 1.42 per cent copper.

    This will, of course, require a cash injection into Sirius but managing director Mark Bennett says the junior has several options, including relying on the exercise of 30 million options, with a 60¢ strike price and expiring later this year.

    Sirius shares took a breather yesterday, falling 4.5¢ to 77.5¢ after having traded as high as 99¢ on Monday.

    Mr Bennett and his team of advisers from Hartleys have been flat out promoting the Sirius story at Diggers & Dealers.

    With Nova's discovery too late to secure a speaking slot at this week's conference attended by a record 2400 delegates, Mr Bennett has been working overtime briefing as many potential investors, partners and stakeholders as possible on a find he and his team believe could be a "Thompson-like discovery", a reference to the giant nickel ore body being mined by Vale in Canada.

    Encounter Resources managing director Will Robinson, whose junior is working to expand its own greenfields copper discovery in the north-eastern Pilbara, says the attention surrounding Sirius' success has been welcome."
 
watchlist Created with Sketch. Add SIR (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.