Interim Results

Details
Company Name:Sirius Exploration Plc
Ticker:SXX
Date Posted:Friday, 18th December 2009
Price:5.12 (as of Thursday, 17th December 2009)

Sirius Exploration Plc (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused on North America and Australia, today announces its interim results for the six months ended 30 September 2009.

Operational and Financial Highlights:

  • Beginning of trading of US ADR facility, arranged by Deutsche Bank, giving the Company exposure to US investors;
  • raised Pounds Sterling 2.8 million of new funding from institutional investors for use as working capital;
  • acquisition of the remaining 49% of Dakota Salts to give the Company 100% ownership; and
  • acquisition of an initial 63.5% interest in AusPotash Corporation giving the Company immediate control of the exploration permits held by Queensland Potash.

Post-period Operational and Financial Highlights:

  • Acquisition of Adavale Holdings which holds exploration permits for land adjacent to the Queensland Potash properties;
  • acquisition of Derby Salts in the Kimberley region of Western Australia;
  • acquisition of the technology companies and patent applications of Co2 Energy Storage Pty Ltd (Queensland), Bicarb Sequestration Pty Ltd and Co2 Energy Storage Ltd (Nevada) USA;
  • commencement of research programmes into CAES (Compressed Air Energy Storage) and carbon sequestration in relation to the properties in North America and Australia respectively; and
  • increased Sirius's position in AusPotash to 68.38%.

Richard Poulden, Chairman of Sirius, commented:

"The first half year has been a highly active period of acquisitions. Going forward, we look forward to consolidating these gains and moving forward in a measured manner." 

The interim results will be mailed to shareholders today and can additionally be downloaded from the Company's website, www.siriusexploration.com.

Company Profile

Sirius Exploration Plc (SXX)

Price: 7.25 (at close of 07/09/2010)

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