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[cheekymonkey]

Lol, just found the RNS after I posted!

Definately good news, will be using this opportunity to top up!

[cheekymonkey]

Having had a chance to read up on the current RNS: In a nutshell SXX have found investors that have a similiar strategy as they do. Looking at the long term picture, the fact that have other investors that are showing interests suggest that there are many more that share the same views.

Secondly as TS suggested this is the plan for the overall long term strategy. you got to be naive to think that SXX will be able to expand without any further investment.

Thirdly this share issue does nothing to the over goals and potential for SXX. The money will nto be used to repay debt but rather expansion. You could argue that maybe they should have waited till the market conditions got better. But this is the time to expand with falling prices and unemployment any investment / expansion will be supported by the local governments. Also its more likely that they will be able to achieve alot more now with £2.5 million then with the same amoutn 6 months down the line.

Finally like me use this opportunity to buy more shares. Then when the SP starts to rise you can always sell your additonal shares at a break even price. So in fact all you have done is reduced your average price, or got some free shares. This is a good approach if firstly the current price is lower than your average price and secondly if you do not wish to tie up a large proportion of your income within one company.

CM

[TreeShaker]

Spot on CheekyM.

I have a low average and am not in the slightest bothered about the placing. Also neither should those with high averages.

This had to happen as Sirius needs the money to continue its expansion.

The Dakota Salts project is huge as we know. Also AusPotash will continue along a similar theme.

The Auspotash resource is as big as the one at Sasketchawan in Canada. There are 5 big players mining that resource - THERE IS ONLY 1 for AusPotash's resource!!! Take a look at the market caps of those potash miners in Canada!!! Think what SXX will be in the years to come.

Long term investors need not be concerned in the slighted about todays RNS.

Now is a great entry point and an opportunity to top up big time.

Good Luck!

[TreeShaker]

Some points on the events yesterday;

1. Yesterday's dilution was a bit of a p(i$$er), for everyone, small holders right up to the largest holder and even the directors themselves.

2. However a good amount of money was raised, and we may see some holdings RNS's come through.

3. This money is being used to most likely towards completing feasibility studies for both Dakota Salts and Auspotash.

4. We already know that the potential share price for these projects in progress after funding will see the SP rocket to several pounds. That still holds true. I certainly would not complain too much if the share priced reached two pounds instead of four pounds given today's price of 3p.

5. Completed feasibility studies of both projects gone through the right channels (JORC etc) will see the right bank hand over the money through lending.

6. The management team of Dakota Salts have the credentials to oversee or even complete such a feasibility study for Dakota Salts.

7. The geological report for Auspotash was created by a team with equal credentials.

8. Auspotash is being listed on the TSX in September. Given the choice of listing before or after a feasibility study is completed, given we are in the midst of a bear market, I suggest it would be better to list with it completed, though that is my own positive speculation.

9. Apart from these two projects, there is also a good amount of news flow expected, some of which will give rise to more uplift.

10. The company, I bet will continue to issue the odd amount of shares instead of payments as they have been doing that for years. This IMO was never a cause for concern.

11. The volume and the trades made today, actually suggest there was quite a bit of buying, and despite much de-ramping done, most investors have held. No signals given to sell at all yet.

Refs and other posts.

Auspotash Independent Geologists' Report:
http://clicks.aweber.com/y/ct/?l=IUA...lEHOi6wgYDu4IA

Expected News Flow

Expected News Flow| Discussion| SXX| SXX.L| GB00B0DG3H29 | Sirius Exploration PLC - Interactive Investor

In Good Hands : Dakota Salts management team.

In Good Hands| Discussion| SXX| SXX.L| GB00B0DG3H29 | Sirius Exploration PLC - Interactive Investor

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Just a quick calc for you on the Aus Potash projects alone in comparison to Saskatchewan;

Saskatchewan

Read this;

potash

Saskatchewan has one of the world’s richest, most extensive potash deposits, with an estimated total 107 billion tonnes of recoverable KCl or 72.5 billion tonnes K2O. Currently, Saskatchewan produces more potash than any other country, is the world’s largest potash-producing region and holds more than 40% of world reserves

Saskatchewan = 107 billion tonnes of recoverable KCl

Saskatchewan’s potash-bearing ore is principally Sylvinite (39% KCl, 56% NaCl, 5% Clay).

AusPotash Assets

• calculated the reserves of halite at 200 million tons per sq. km.
• classified a significant percentage of the deposit as sylvite

Halite = mineral form of sodium chloride
Sylvite = mineral form of potassium chloride (KCl)

642.3 sq km x 200 = 128460 million tonnes = 128.6 BILLION TONNES !!!!
This is just the HALITE

On top of this is the KCl (Sylvite) which could be just as much! Or more!!

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The large miners in Saskatchewan and their Market Caps are;

• PotashCorp - Market Cap. $ 28,215.23M (It was 2.5 times this in the last 12 months !!!)
• Agrium Inc - Market Cap. $ 5,830.98M (It was 3 times this in the last 12 months !!!)
• Mosaic Potash - Market Cap. $ 19,207.48M (It was 4 times this in the last 12 months !!!)

These are all competing to mine the Saskatchewan deposit.

Currently Sirius have a Market cap of £5 million!!! The Aus asset is larger than that in Saskatchewan and Sirius have it to themselves – this excludes North Dakota which is huge along with all the other CAES, CO2 storage, windfarm etc etc!

As we come out of recession and the demand increases from China, India, Asia for potash, the SP of the above will rise again.

I hope this clarifies that SXX is a good investment!!! Time to top up again eh ??!

[TreeShaker]

Auspotash already has a NI 43-101 report for its Avadale Basin Site!!! This is as good as a JORC report and is bankable.

National Instrument 43-101

The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code) which regulates the publication of mineral exploration reports on the Australian Stock Exchange (ASX). The two reporting codes are however, not entirely congruent in practise, in that NI 43-101 is more prescriptive in terms of the manner in which mineral exploration reporting is presented, although the content of the technical reports, and the scientific rigours to which the mineral resource classifications within them are put, are often very similar.

In many cases, NI 43-101 and JORC Code reports are considered inter-changeable and may be accepted by either regulatory body in cases of dual listed entities and indeed are accepted as the de-facto industry reporting standard by many other jurisdictions which lack similar rigorous reporting standards or internationally recognised industry professional bodies.

See the report from here;

http://www.auspotash.com/

Geologist Report for Auspotash

Projects :: M. D. Campbell and Associates - Environmental / Natural Resource Services

This on their website:

Confidential Client: A Canadian-Australian Mining Company engaged C&A to assess a large mineral concession in Australia regarding the nature of mineralization, previous activities, environmental issues surrounding the project, and likely path for development through mining operations, all in terms of 43-101 requirements in anticpation of listing on a Canadian Stock Exchange.

TSX Listing

It makes sense to list here as this is exhange is friendly towards potash mining companies as the Saskatchewan ones are listed there too.

Some more info below on the process for mining the potash in Aus;

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Minerals

Prospecting permit* These are done already

A prospecting permit entitles the holder to prospect for and/or hand-mine for minerals (excluding coal) and/or peg a mining lease or mining claim on the available land specified.

There are two types of prospecting permit:

a parcel prospecting permit can be granted for a particular parcel for a term of three months

a district prospecting permit:
can be granted for all available land within a mining district for a term of 1-12 months
is subject to the holder obtaining the written consent of the land owner for access to occupied land.


Exploration permit

Different exploration permits are required for minerals and for coal.

An exploration permit:

is issued for the purpose of exploration
allows the holder to take action to determine the existence, quality and quantity of minerals on, in or under land by methods which include prospecting, geophysical surveys, drilling, and sampling and testing of materials to determine mineral bearing capacity or properties of mineralisation
may eventually lead to an application for a mineral development licence or mining lease
can be granted for a period of up to five years
can be renewed.



Mineral development licence* I think this is where we are with two tenaments hence the fund raising to cover some of the costs estimated at $1.7 AUS.


A mineral development licence:

allows the holder to undertake geoscientific programs (e.g. drilling, seismic surveys), mining feasibility studies, metallurgical testing and marketing, environmental, engineering and design studies to evaluate the development potential of the defined resource
can be granted to the holder of an exploration permit for a period of up to five years where there is a significant mineral occurrence of possible economic potential
can be renewed.

Mining claim

A person can hold or have an interest in a maximum of two mining claims at any one time. A mining claim:

is granted to holders of prospecting permits to carry out small-scale operations with limited use of machinery
can be up to one hectare in area
entitles the holder to prospect and hand-mine for specified minerals.
must have an initial term not exceeding ten years
is granted for minerals other than coal.


Mining lease* And this is where we want to be!

A mining lease:

is granted for mining operations
entitles the holder to machine-mine specified minerals and carry out activities associated with mining or promoting the activity of mining
is not restricted to a maximum term—this is determined in accordance with the amount of reserves identified and the projected mine life.
can be granted for those minerals specified in either the prospecting permit, exploration permit or mineral development licence held prior to the grant of the lease.
The Act does not specifically define the area or shape of land that can be granted under a lease although these must be justifiable.

[cheekymonkey]

The price is really moving today, According to my broker the selling price is currently 3.50. So everyone that doubled downa during the share issue when the price was around 3p will be benefiting.

[TreeShaker]

Some more info on AusPotash - remember SXX have the option and will take up the 52% in Sept.

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Auspotash as it currently stands (remember SXX has an option to buy 52% of this), will become Auspotash Limited which will consist of mainly Auspotash and a bit of Greenwich. The land that Queensland Potash is after, has a couple of problems that need overcoming, Australian Legalities. If these go fine then the this deal is on. (Interestingly, Innovation Energy hold EPMs in the same area, and its speculation that they could contribute theirs to Auspotash).

The land and plan is all listed and outlined here.

http://www.auspotash.com/files/AusPo...esentation.pdf

Note the figure of $20m needed to get a pilot plant in production and feasibility completed leading to the bigger productions.

Warrants have been issued at certain prices which if excercised allow more shares to exist at certain prices agreed now in the future. These exist for Queensland Potash, and also Auspotash.

These warrants may tell us useful things, the estimate of a minimum value in the mid term future, and the number of shares likely to exist in the future, these all seem to be one or two years. Greenwich have done the deal with shares and warrants.

The number of shares that Auspotash Limited will issue will range from 55m to 134m depending on how many of the warrants are taken up.

Lets hope they are taken up, as their prices are 20 and 30 cents (just for the Broker, Haywood) for one year and 40 cents for two years, meaning an estimated market cap of up to $26.8m, which covers the $20m for the pilot plant and feasibility, and all expenses.

Auspotash Limited, Of which Auspotash (as it stands today before this agreement) will have about 95%, that 95% of which SXX could have 52% of that.

Its reasonable to suggest that if the shares that are currently owned by Queensland Potash are transferred to SXX, (possibly as Fruitbat suggests these are the same holders that just bought mores shares), then SXX may be able to up the stake to 52% from the 40s as describes in the link, with a smaller amount of shares than first thought.

'Concurrent Financing' is described in this link:

http://www.tsx.com/en/pdf/Policy5-4.pdf

This needs to be 2.1m to 3m, any TSX junkies want to explain this one properly?

It is becoming a minefield and certainly one that Poulden seems to have created, yes he's a clever man, but as to how we'll all benefit as SXX holders all remains to be seen. Not even the news pieces have attempted to explain this, just copy the release.

Greenwich to Acquire AusPotash Corp.

Just IMO DYOR

[TreeShaker]

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Great to see a nice rise today in London.

The institutions who bought the diluted shares are not selling. In fact some big buys went through today, yesterday and Friday. People are realising what a great investment this is for the long term.

[cheekymonkey]

This is an interesting article on current holdings of SXX.

I believe Barclays PLC holding the shares indirectly would mean that individuals such ourselves trading through Barclays hold these shares. But the Big one is really interesting 18% of shares!

Holding in Company - London Stock Exchange

[TreeShaker]

Originally Posted by cheekymonkey This is an interesting article on current holdings of SXX. I believe Barclays PLC holding the shares indirectly would mean that individuals such ourselves trading through Barclays hold these shares. But the Big one is really interesting 18% of shares! Holding in Company - London Stock Exchange

Hi CheekyM,

I think I called that one wrong the other day in regards the Holdings with Barclays.

Without seeing the actual TR-1, I think that the Barclays shareholding is only indirect because it has purchased on behalf of several of its operating entities but it amounts to a corporate holding by Barclays PLC. Had these shares been acquired on behalf of PIs, Barclays would have had to make an announcement at 3%, and this never happened. Anyway, stockbrokers don't issue TR-1s when their indirect purchases on behalf of PIs reach 3% -- they would only have to do so if any individual PI held >3%.

So it looks to me as though SXX has acquired a blue chip shareholder through Barclays in addition to the large holding by the Hedge Fund! :)