the west australian

Good press today should see further boost in sp, all they need to do now is annoc some drill and assays to match and away we go LOL



UPDATE 1.40pm: Shares in market darling Sirius Resources were firmer after it confirmed it would raise $44 million in a placement priced at $2 a share.

The company said it would issue 22 million new shares to institutional and sophisticated clients of Hartleys, representing 11.5 per cent of its issued capital.

Sirius said the raising would leave it with cash reserves of more than $60 million and no debt.

Managing director Mark Bennett said the raising would allow the company to aggressively explore around its flagship Nova nickel-copper deposit near Balladonia to add additional value without the overhang of financing risk.

"We are now fully funded for the entire resource definition and feasibility process through to a potential future project financing decision," he said.

Sirius has five diamond drill rigs on site, drilling at Nova and adjacent targets.
Shares in the company - which has been one of the best performers on the ASX this year - closed up four cents, or 1.84 per cent, at $2.21 after emerging from suspension.