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maybe we are soon gonna witness time when Sirius was as good as it was earlier :)
have you guys heard the latest news that the chairman has changed? this is gonna bring in a lot of new enthusiasm in SRUXY, dont you think?
ustralia – Queensland
Sirius Exploration has acquired all the issued share capital of AusPotash Corporation, whose wholly-owned subsidiary Queensland Potash Pty Limited holds exploration permits covering an area of approximately 280 square kilometres in a region of Queensland, Australia, overlying the Boree Salt Member, a formation recognised for its significant salt and potash deposits.
Sirius also has a 100% interest in Adavale Holdings Pty which holds mineral exploration permits covering nearly 320 sq km of land adjacent to the Queensland Potash permit area also overlying the Boree Salt Member. Combined, they provide Sirius with over 600 square kilometres of exploration permits in Queensland, Australia.
www.auspotash.com
www.queenslandpotash.com/ Adavale Holdings Pty
Dakota Salts: Exploration Permit Granted
The Directors of Sirius Exploration Plc, (AIM: SXX, OTC: SRUXY), the mining and exploration holding company focused on potash and salt deposits in North America and Australia, are pleased to announce that an Exploration Permit (“Permit”) application has been granted by the North Dakota Industrial Commission to Sirius’s wholly-owned subsidiary Dakota Salts LLC (“Dakota Salts”).
read more at http://www.siriusexploration.com/news/196-dakota-salts-exploration-permit-granted
The Directors of Sirius Exploration (AIM: SXX, OTCQX: SRUXY) are pleased to announce the appointment of Christopher (Chris) Catlow as Chairman of Sirius Exploration with effect from 6th April 2010. Chris Catlow, 49, is a highly experienced executive in the international resources industry, having been a senior executive of the ASX-listed iron ore mining company Fortescue Metals Group Limited (ASX:FMG), since shortly after its formation in 2003
Hmmmmmmm,,,,,,,,,,,,it seems you really want to give us all good information about Sirius Exploration Plc. Good keep it up.
More information about Sirius Exploration Plc :
Sirius Exploration Plc is a diversified holding company with interests in mineral properties in Australia and North America. It operates in two segments: resource evaluation and exploitation and environmental improving solutions. The Company operates in United States and Australia. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company acquired 63.8% and 30.71% interest in Auspotash Corporation, which is engaged in the acquisition, exploration and development of mineral properties. On October 14, 2009, it acquired 90.1% interest in Adavale Holdings Pty Limited. On October 19, 2009, the Company acquired 100% interest in Derby Salt Pty Limited. On October 13, 2009, the Company acquired 100% interest in CO2 Energy Storage Pty Limited and Bicarb Sequestration Pty Limited.
Thank you. This is good information.Something like there has been great news lately - can we be headed back to the good times of Sirius exploration
I agree with you. By the way, have to seen this ?
http://www.dakotasalts.com/
,,,,,,,,,read this news and let me know how do you feel about SRUXY.
Sirius has acquired the IP and the issued share capital of three research and development companies focused on innovative new technologies for using its properties post the mining phase for environmentally beneficial activity.,,,,,,,,,,,,,what is your opinion?
Sirius Exploration Plc is a diversified mining and exploration holding company with salt and potash interests in North America and Australia and initiatives in Compressed Air Energy Storage and Carbon Sequestration.
,,,,,,,,,,SRUXY
Hi Dave
The monthly Voting Rights News Release is out on time.
http://www.marketwire.com/press-release-canada/Total-Voting-Rights-LSE-SXX-1267800.htm
It was great bottom feeding this week wasn't it. Already in profit mode as of Friday's session.
http://finance.alphatrade.com/quotes/quote?s=SRUXY
http://www.google.com/finance?q=PINK%3ASRUXY
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=SRUXY#getQuote
Nice volume building and you know what that brings. Obviously in anticipation of Chris Catlow taking over as Chairman on Tuesday. Expect a steady increase in the PPS now that Harbinger has stopped selling.
http://www.siriusexploration.com/
I will be taking a trip to North Dakota in June/July. Time permitting I shall swing by.
http://www.dakotasalts.com/
http://www.nd.gov/ndic/renew/meeting1004/r008-a-2.pdf
http://www.minotdailynews.com/page/content.detail/id/539064.html
http://www.netl.doe.gov/publications/proceedings/07/carbon-seq/data/papers/p1_095.pdf
http://www.miningenvironmental.com/enviromine/sirius-takes-advantage-of-storage-solution?utm_source=twitterfeed&utm_medium=twitter
Found this video on the net. Sarah Palin interviewing The Cat.
http://www.xtranormal.com/watch/6653751/
Catch you after the long weekend.
Do you have any information on this Cavern Storage?
SRUXY / Schlumberger JV
Thunder I agree - the implications of this are that the mining plan must be far in advance. They need caverns pretty soon if they are a. going to do stress analysis b. start construction of the BES in 2011 exciting times ahead!
Just picked up 100
WOW that is very interesting information. This is sure one great stock.
-------------------------
Joint Venture Sirius (Dakota Salts) Schlumberger and Tetra Tech
Interesting times ahead hopefully!
http://www.nd.gov/ndic/renew/meeting1004/r008-a-1.pdf
http://www.nd.gov/ndic/renew/meeting1004/r008-a-2.pdf
http://www.nd.gov/ndic/renew/meeting1004/r008-a-proposal.pdf
Joint Venture Sirius (Dakota Salts) Schlumberger and Tetra Tech
Interesting times ahead hopefully!
www.nd.gov/ndic/renew/meeting1004/r008-a-1.pdf
www.nd.gov/ndic/renew/meeting1004/r008-a-2.pdf
http://www.nd.gov/ndic/renew/meeting1004/r008-a-proposal.pdf
Interim Financials for Sirius Exploration
http://twitter.com/otcmarketbulls/status/9288954858
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=29029&utm_source=twitterfeed&utm_medium=twitter
This version has more details.
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=29027
------------
Suspect this is the warming up to News Releases.
I note the Annual Report is due 31 March 2010. My guess this stock will have a gradual increase till then. Post the Annual report it will move up smartly.
This is my view only.
http://www.siriusexploration.com/share-capital/annual-reports
http://www.siriusexploration.com/news
Hi Dave
Looks like fertilizer demand is growing as predicted.
http://www.moneyweek.com/investment-advice/how-to-profit-from-the-booming-fertiliser-market-00705.aspx
Farming is not a business you normally associate with the pinstripe-suited cut and thrust of international mergers and acquisitions.
Yet one of the busiest areas for takeover deals this year so far has been the fertiliser sector. Already around $10bn worth of deals have "been thrashed out in the fertiliser market," reports the FT's Lex column. The latest is Norwegian group Yara International's $4.1bn purchase of US rival Terra Industries.
Click here!
So why is this happening now? And more importantly, how can you profit from it?
The fertiliser market is booming
Yara International is the world's largest listed fertiliser maker. And it's about to get bigger after taking over US rival Terra Industries. One reason that Yara wants Terra is to secure its access to US natural gas supplies. Natural gas is one of the key ingredients of nitrogen fertiliser. With everyone getting excited about America's reserves of shale gas, having access to the area's reserves makes sense.
But it's just one of many deals done in
Thanks for those links.
I hear that the 1/4 report due week 1 of March is only one of many in a series of NewsReleases.
I also hear that China will be in the forefront for takeovers this year. Any smell of that and KaBoom.
Can't wait to see SRUXY rock.
Do not forget Haddington Ventures are sniffing round ND with cash to burn after their recent selling of their previous CAES adventure. Indeed they seem very keen on ND:
www.bsc.nodak.edu/gpee/pdfs/Sessions09.pdf
www.bsc.nodak.edu/gpee/presentations09/DaveMarchese.pdf (note the 134 MW design - same as the EPRI study being undertaken with Dakota Salts and their comments on ND Wind Resource)
Could be nothing......then again....
I am expecting some news pretty soon based on the fact that the RNS yesterday alluded to a new report being issued early March. If they have nothing to add to the previous why bother?
http://www.dakotasalts.com/
http://www.dakotasalts.com/about-us.html
http://www.dakotasalts.com/projects.html
Dakota Salts LLC is a wholly owned subsidiary of Sirius Exploration Plc and is incorporated in Colorado, USA. Based in Denver, Dakota Salts holds mineral leases in excess of 5,000 acres in North Dakota, USA, allowing for the exploration and extraction of salt and potash and the creation of caverns for the storage of natural gas and other hydrocarbons or the storage of compressed air for electricity generation.
North Dakota is the base of one of the largest wind farm, electricity generation projects in North America with capital investment expected to exceed $4 billion. President Obama has stated his commitment not only to renewable energy but also to connecting these wind farms into the grid to supply Chicago with power. Wind power is one of the most environmentally friendly sources of power but does not provide a consistent output since power is only generated when wind is blowing. This can lead to complex power management issues. These can be potentially resolved by storing compressed air in underground storage caverns and then releasing it when required to power turbines to generate electricity when it is needed. Dakota Salts and the Sirius Exploration group of companies are committed to identifying innovative new ways to commercialize its properties concurrently or after the mining activity has been concluded that help reduce carbon emissions.
Based on the analysis of historic data, the Dakota Salts properties overlie:
Known Exploration Targets:
* Typically over 165 meters of salt thickness
* In excess of 10 meters of potash
* 2,450 meters to 2,750 meters deep for solution mining
And, based on calculations drawn from historic preliminary core tests, suggest initial volumetric calculations of:
* 6 to 10.7 meters thick of potash deposit
* 18 to 25 % grade sylvite
* 2.1 to 5.2 million metric tons per square kilometre
* 5.5 to 13.4 million metric tons per square mile
Hi Dave, Looks like North Dakota is in the news again re renewable energy. This is very good for Sirius Exploration (SRUXY) and Dakota Salts.
http://www.minotdailynews.com/page/content.detail/id/536359.html
Shifting a quarter of the nation's electrical generation to renewable sources would create 274,000 jobs nationwide, including 4,900 jobs in North Dakota, according to a study conducted for an alliance of renewable energy companies.
The RES Alliance for Jobs is promoting a federal renewable energy standard requiring electrical utilities to get 25 percent of their power from renewable sources by 2025.
Basin Electric Cooperative in Bismarck, which provides electricity to a consortium of rural co-ops, reported it was already at 22 percent from hydropower and wind at the end of 2009. That exceeds the goal of Basin Electric members, who voted in 2005 to aim for 10 percent of power from renewable sources by 2010.
Basin Electric brought its PrairieWinds 1 and Minot Wind 2 projects on line in December. It expects to maintain an employment of eight to 10 people in the 120-megawatt operations.
Xcel Energy, which serves Minot, is the nation's top wind power provider among investor-owned utilities, according to the American Wind Energy Association. At the end of 2009, Xcel Energy had 3,176 megawatts of wind power capacity in its eight-state service territory, including 1,265 megawatts in Minnesota and the Dakotas.
The company will get 10 percent of its capacity from renewable sources once two new wind projects come on line in the next two years. By 2025, Xcel Energy's goal is to have 30 percent of its power coming from renewable sources, of which 25 percent would be wind, said spokeswoman Bonnie Lund, Fargo.
One of Xcel's proposed wind projects is the 150-megawatt Merricourt wind farm in southeastern North Dakota. According to national averages provided by the American Wind Energy Association, a 150-megawatt wind energy project would be expected to create about 150 construction jobs, 10 long-term operation and maintenance jobs and 300 manufacturing jobs.
The "Job Impacts of a National Renewable Electricity Standard" study released Thursday was conducted by an independent firm for the RES Alliance for Jobs. It linked most of the 4,900 new jobs in North Dakota to wind energy. Fewer than 250 new jobs would be created in the hydropower industry. New jobs include direct, indirect and induced, which are created from wages spent.
A national breakdown of direct jobs shows 52 percent would be in manufacturing, 23 percent in construction, 11 percent in engineering and technical services and 14 percent in operation, maintenance, administration and management.
The North Dakota Public Service Commission reports wind projects are producing 1,186.72 megawatts of energy in the state. Companies have either received permits or have applied for permits for another 7,010.72 megawatts in 14 proposed projects. They include Merricourt as well as Sequoia Energy's 150-megawatt Border Winds project in Rolette and Towner counties and Hartland Wind Farm's 2,000 megawatts in Ward, Burke and Mountrail counties.
In addition, the PSC has received numerous interconnectivity requests to transport wind-generated power through the Midwest grid.
"Future development does hinge on getting transmission lines," said Jerry Lein, public utilities analyst with the PSC.
Daryl Hill, spokesman for Basin Electric in Bismarck, said transmission is particularly important for North Dakota.
"Certainly you have to have the transmission capabilities to move this power because North Dakota is a power-exporting state," he said.
Basin Electric has the transmission capacity to move ahead with plans to add more wind power to its energy grid, Hill said. The cooperative plans to start construction later this year on a wind farm in South Dakota and will purchase energy from another wind project there.
http://www.iii.co.uk/investment/detail/?display=news&code=cotn:SXX.L&action=article&articleid=7749979
RNS Number : 0936H Sirius Exploration plc 15 February 2010
For immediate release: Monday 15 February 2010, 7AM
Sirius Exploration PLC
("Sirius" or "the Company")
Initiation of Edison Investment Analyst Coverage
The Directors of Sirius (AIM: SXX, OTC: SRUXY), the mining and exploration company focused on salt and potash deposits in North America and Australia, are pleased to inform shareholders that Edison Investment Research Limited ("Edison") will now be generating quarterly independent research reports on the Company. The first report is expected to be published in March 2010.
Edison is Europe's leading independent investment research company, generating and distributing research to a global audience including investment banks, institutional investors as well as professional investors and relevant members of the investment community.
Richard Poulden, Chairman and CEO of Sirius, commented:
"We are pleased that Edison has agreed to undertake regular coverage of the Company. It will provide investors with an additional perspective on valuations and forecasts for the Company which will complement those notes generated by our Broker, Daniel Stewart."
Future Edison reports on the Company will be available for viewing at www.edisoninvestmentresearch.co.uk and on the Company's website, www.siriusexploration.com.
Enquiries:
Sirius Exploration PLC
Richard Poulden, Chairman Tel: + 971 504 524 994
Richard.poulden@siriusexploration.com
Beaumont Cornish Limited
Roland Cornish Tel: +44 (0)20 7628 3396
Daniel Stewart & Company plc
Simon Leathers/Oscar Louzada Tel: + 44 (0) 20 7776 6550
Gth Media Relations
Toby Hall/Christian Pickel Tel: + 44 (0) 20 7153 8036
Notes to Editor:
Sirius Exploration Plc is focused on commercialising properties that sit over known salt and potash deposits through a combination of mining and developing energy and CO2 storage related projects for its properties. The Company's operations include interests in properties that overlie significant salt and potash deposits in North American and Australia. To this end, Sirius has acquired the Intellectual Property and the issued share capital of three research and development companies focused on innovative new technologies for developing its properties post the mining phase. These technologies cover storing CO2 in the salt caverns created through solution mining, approaches for safely sequestering CO2 in underground salt beds, and the development of new CO2 based Compressed Air Energy Storage facilities for generating electricity.
Sirius also continues to maintain its historic copper and gold interests in Macedonia and iron ore interest in China via its equity position in a CIC Mining Resources Ltd vehicle.
Incorporated in October 2003 as a private company, Sirius subsequently re-registered as a public company on 22 March 2005 when it was admitted to AIM. The Company's shares are additionally traded in North America as American Depository Receipts "ADR's" on the OTC Pink Sheets market.
This information is provided by RNS The company news service from the London Stock Exchange
END
NRABSGDDLBBBGGD
Can you post the link?
You see the RNS today? Looks like they are gearing up for some positive regular newsflow out of North Dakota. Bring it on......
There seems to be a tussle between MMs on the Ask. Oscillating between 41.65 and 41.7.
No trades. Almost like the MM's flashing the share to get attention.
Dave
As you are the moderator, you may wish to add some of this to the 'ibox'.
Not sure if you know anything about the rescent buys in property by Sirius Exploration to add to their arsenal of Potash and CAES. Very strategically located for the Indian and China Markets let alone the Australian domestic market. Sirius Exploration have been very cleaver in their research and property purchase.
We are all awaiting on the reports in April and we have forgotten all about Western Australia (remote as it is) and concentrated on other programs owned by Sirius Exploration like Dakota Salts, AusPotash, Adavale Basin, CO2 Energy Storage, Bicarb Sequestration and CAES.
I think we should watch carefully the Western Australia Derby Salts and one of the institutional holders - Global Opportunities Breakaway Limited connection with Sirius Exploration plus Sirius Ex. shares in Constitution Mining Corp.
http://www.siriusexploration.com/share-capital
http://www.constitutionmining.com/index2.asp
I am not the originator of the following research and I thank T2D for his DD.
http://kampungmelayu.files.wordpress.com/2009/10/gorgon1.jpg
http://www.derbyboabfestival.org.au/picts/index/DampierPeninsulaMap.jpg
http://www.buruenergy.com.au/getfile/121.pdf
http://www.buruenergy.com.au/getfile/60.pdf
http://maps.google.com.au/maps?q=barrow+island+western+australia&oe=utf-8&rls=org.mozilla:en-GB:official&client=firefox-a&um=1&ie=UTF-8&hq=&hnear=Barrow+Island+WA&gl=au&ei=t3jhSoD0KoKwswOkof2yAw&sa=X&oi=geocode_result&ct=image&resnum=1&ved=0CA4Q8gEwAA
http://www.dmp.wa.gov.au/documents/2Petroleum_prospectivity_of_L08-1_to_L08-3.pdf
http://www.dmp.wa.gov.au/documents/Onshore_Basins_0806.pdf
http://www.newstandard.com.au/index.php?option=com_content&view=article&id=53&Itemid=66
http://images.rigzone.com/news/article.asp?a_id=50317
http://www.emeraldoilandgas.com/ausprojects.html
http://www.energy-pedia.com/article.aspx?articleid=138075
http://www.dmp.wa.gov.au/8457.aspx
Now that it appears that the seller has gone (fingers crossed), we should see some sirius correction upwards as SUUXY draws on April. Plus any developments in Western Australia with Derby Salts - part of SRUXY.
Well it makes sense if they are no longer listing. What you make of what is happening in the UK today? Pretty even(s) buy to sell ratio (in fact I would say more buying pressure) yet been ticked down slightly???
I was referring to the constant selling which appears at this point of time to have terminated. The suggested AusPotash holder that had some grievence over the buy out by Sirius Ex. and/or the non-listing on the TSX.
Deliberate decline?
Hi,
I am aware of iron glenn and Queensland Phosphate when I was doing my DD however I cannot see them fitting in within the SXX business. Can you? Interesting project / areas all the same....
North Dakota State Policy / Sirius
Thundebolt thought you might appreciate what I see at the political / economical / Sirius synergies in North Dakota:
http://www.ngenpartners.com/Files/Press%20Releases/Current_BEPC-PowerspanRelease_061808FINAL.pdf
The demonstration project would capture about one million tons of CO2 from a portion of the exhaust
from Unit 1 at AVS, making this project among the largest in the world. As planned, the Powerspan
technology would remove CO2 from the equivalent of a 120-megawatt slipstream. The captured carbon
dioxide would then be fed into an existing CO2 compression and pipeline system owned by Basin
Electric’s wholly owned subsidiary, Dakota Gasification Company (DGC), which has been in operation
since 2000.
http://denalicompanies.com/pdf/hoeven.pdf
page 8 of 11 for the policy including the powering of turbines using sequestered CO2....
We know we have Hartland windfarm in Burke County and they have specifically mentioned mining potash for the project / caverns.
Also worth a read / look:
http://www.dakotasalts.com/projects.html
http://www.tradeandindustrydev.com/ID-1119-news.aspx
Interesting times ahead for Sirius and Dakota Salts (hopefully!)
Hi Dave
Considering the deliberate and steady decline in the PPS over the past 4 x months, the rate of rise over the past 5 days is a welcome relief for us holders of the ADRs.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=SRUXY#getCharts
Yes, I am aware of Qld Potash site is down. Note I posted yesterday the Qld Phosphate link yesterday. There is a Corporate Presentation in PDF format there. Here is the link. Very informative even if 11 months old.
http://www.queenslandphosphate.com/images/stories/Drummond_Basin_Corp_Pres_1.0r.pdf
17% not bad? Would love to know what a good day is for you! UK volume has dropped right off today although there was a 700k + 250k delayed buys went through afterhours so someone is stake building.........You see the Queensland Potash website is down?
Up 17% for the day . mmm not bad.
http://ih.advfn.com/p.php?pid=trades&symbol=SRUXY
Time & Sales
Price Size Exch Time
46.80 100 OTO 11:52:38
46.80 200 OTO 11:50:43
45.60 250 OTO 10:53:44
47.60 100 OTO 10:29:13
47.60 100 OTO 10:28:19
47.60 100 OTO 10:25:50
47.55 100 OTO 10:12:01
On a par with the UK at the moment. Bloodbath out there today banks are getting hammered.
SXX is already up 15% today (approx 6 hrs of trade).
Get on board the ADR's early and make a quick profit - SRUXY
They have issued two TVR RNS's in December. Unless someone is being a naughty boy then there has been no changed. I did not know shares held in CFD's are not notifiable did you? I think this share is very illiquid in the UK.
Hi TB: I disagree about the seller to be honest. Normally they kept pace with buying demand but we are not seeing this now. Two plausible reasons:
a. They do not have the stock to do so
b. They want to start manipulating / moving this north
Agree ADR generally follows AIM markets save for the 20% move north the other day. Pending news or speculation? Who knows what we do know is that at the last GM it was stated that there would be updates 1/4 2010. Fingers crossed....
I see that pesky seller has continued to not sell again today. May well be extinguished.
So far today we have a 10% rise. Not bad for 4 hrs of trading. Bet this is reflected in the ADR's - SRUXY when they start trading in the USA.
Love these dual listed stocks.
ADR's
Not sure why this did not appear on my previous post but here is the mention of ADR's as of 30 Nov 2009
------------
American Depository Receipts (ADR)
As at 30 November 2009 there were 18,618 ADR’s with each ADR comprising 500 shares. This represents 9,304,000 Sirius ordinary shares or 1.48% of the issued share capital.
Dave
The information on the major shareholders is due for updating but here is the current information availabe to us from the Sirius Exploration website. Note the mention about ADR's - this board.
I wish my name was there.
http://www.siriusexploration.com/share-capital
Share Capital 5 December 2009
* Authorized share capital at 5 December 2009 1,000,000,000 Ordinary Shares of 0.25 pence each
* Issued share capital at 5 December 2009 625,028,170 Ordinary Shares of 0.25p
Treasury shares: None
The following interests amounting to 3% or more of the issued share capital of the Company as at 5 December 2009 were:
Global Opportunities Breakaway Limited 41,275,000 6.6%
Barclayshare Nominees Limited
24,329,236 3.9%
Goldman Sachs Securities (Nominees) Limited
54,675,000 8.7%
HSDL Nominees Limited
26,809,174 4.3%
Jim Nominees Limited 37,140,000 5.9%
Lynchwood Nominess Limited
87,690,000 14.0%
Pershing Nominess Limited 100,150,000 16.0%
TD Waterhouse Nominees (Europe) Limited
21,425,404 3.4%
Canaccord Nominees Limited 21,290,334 3.4%
Due to there being many Nominee accounts there may be a possibility of double counting.
Number of shares held by Directors and related parties
32,120,964 5.1%
American Depository Receipts (ADR)
As at 30 November 2009 there were 18,618 ADR’s with each ADR comprising 500 shares. This represents 9,304,000 Sirius ordinary shares or 1.48% of the issued share capital.
Here is a Technical Report from the CO2 Energy Storage website which is currently unavailable for updating I understand.
http://www.siriusexploration.com/news/147-co2-energy-storage-technical-report
Co2 Energy Storage – Technical Report
Attention: open in a new window. PDFPrintE-mail
SIRIUS EXPLORATION Plc - AIM:SXX, OTC:SRUXY
(“Sirius Exploration” or “the Company”)
Co2 Energy Storage – Technical Report
Further to the announcement of 13 October 2009 announcing inter alia the acquisition of Co2 Energy Storage Pty Ltd, the Directors of Sirius Exploration Plc (AIM: SXX, OTC: SRUXY), the diversified mining and exploration holding company focused on North America and Australia, are pleased to announce the findings of a technical report conducted by UniQuest Limited of Queensland, Australia for Co2 Energy Storage Pty into the feasibility of using compressed carbon dioxide (Co2) within underground salt caverns to create energy storage facilities for the production of electricity. Uniquest Limited are the contract research arm of the University of Queensland and operate using the University’s staff and facilities.
In previous releases and presentations Sirius has described the use of Compressed Air Energy Storage (“CAES”) as a means of storing electricity. This can be used for peak load demand and can also be used as an environmentally friendly method of storing wind generated electricity for use when power is actually required as distinct from just when the wind is blowing.
The research described here investigates a scenario whereby Co2 will be used in place of compressed air. Initially the Co2 would be sequestered and compressed into a salt cavern. There is then a closed loop process whereby the Co2 is bled off into storage caverns to provide power and recompressed to provide energy storage. In this process the Co2 is not only removed from the atmosphere but it is then used to provide ongoing power generation and storage.
The modelling was done using MATLAB programming. The research team analysed two scenarios using a cavern 50 metres in diameter, 100 metres deep and located at 1500 metres below ground. In the first scenario a power recovery ratio of 69% was calculated with an overall energy efficiency ratio of 18.6% due to requirements of cooling for the compressors and heating for the turbines. In a supplemental scenario a power recovery ratio of 65% was identified with an overall energy efficiency of 12.1%. Whilst the power recovery ratio was slightly lower in the second scenario, it only required two additional caverns to allow the discharged gas to be bled into after the compressed Co2 from the main storage cavern had been re-released through the turbine to generate electricity. In the first scenario, multiple caverns would be required.
The report also confirms that it is logical that the technology would qualify for Renewable Energy Certificates.
Richard Poulden, the Chairman of Sirius, commented:
“We are greatly encouraged by the findings of this first report as it confirms from a technical perspective the possibility of being able to use Co2 - as opposed to Compressed Air for which the technical case has already been proven – as a medium for storing energy and subsequently driving electricity generating turbines. Through this approach, we are potentially looking at a technology that can transform harmful emissions into clean energy and provide an important support mechanism to utility and energy companies.
“Through our subsidiary, Co2 Energy Storage, we will continue our R&D into this area and begin building the economic model for Carbon Dioxide Energy Storage (CDES) facilities for potential use, where appropriate, on our properties. As such, this activity is part of our strategy to build a range of complementary solutions for extending the commercial life of our salt properties once the mining phase has been completed.”
-ENDS-
This news release is 3 weeks old but is important news. Be interesting as the News Releases (and PPS) build up for April's expected reports.
-------------
For immediate release: 11 January 2010
Sirius Exploration PLC
("Sirius" or the "Company")
Issue of Equity in connection with increasing stake in AusPotash Corporation
Further to the announcements made on 15 September, 22 September and 29 September 2009, Sirius (AIM: SXX, OTC:
SRUXY) announces that it has entered into an escrow agreement with three shareholders of Auspotash Corporation
and has, consequently, completed the acquisition today of a further 1,295,254 common shares of AusPotash
Corporation, representing 2.32 per cent of the issued and outstanding common shares of AusPotash (the
"Transaction"). The consideration for the Transaction is the issue of 2,590,508 new Sirius Ordinary Shares of
0.25p ("Ordinary Shares"). As a result of the Transaction, Sirius now has an interest of 71.15% of AusPotash.
The acquisition was contemplated in the amended and restated lock-up agreement executed with Auspotash on
September 29, 2009, which agreement permitted the acquisition of certain shares of Auspotash subject to the
resolution of certain Canadian tax matters. Such tax matters are being resolved by placing 25% of the issued
shares, being 647,627 Ordinary Shares, into escrow until such time as the vending shareholders have paid the
requisite Canadian tax. Once this has been done these Ordinary Shares will be released from escrow to the
AusPotash shareholders.
Further to this transaction 16,097,327 common shares of AusPotash remain to be purchased by Sirius and the
Company will notify the market when these are completed in due course.
Application has been made for the 2,590,508 new Ordinary Shares which will, when issued, rank pari passu with
the existing Ordinary Shares in issue, to be admitted to trading on AIM and trading, is expected to commence on
18 January 2010.
Following the issue of the new Ordinary Shares as set out above, the total number of shares in issue will be
628,118,678.
- Ends -
Contacts:
Richard Poulden
Chairman, Sirius Exploration Plc. Tel: +971 504 524 994
richard.poulden@siriusexploration.com
Beaumont Cornish
Roland Cornish Tel: +44 (0)20 7628 3396
Gth media relations
Toby Hall Tel: +44 (0)20 7153 8039
Christian Pickel Tel: +44 (0)20 7153 8036
Website: www.siriusexploration.com
Sirius Exploration Plc
I know this video is almost 12 months old but it is good to revisit from time 2 time as Richard Poulden told us information that we just did not relate to back then.
TB: Also remember this that the ND Senate have been legislating specifically for the purposes of Potash as per the links below. There is only one proposed potash producer in ND as things stand which is Dakota Salts......Why legislate unless you are going to have an industry?
http://www.legis.nd.gov/assembly/61-2009/docs/pdf/19080.pdf
Also regarding Adavale tenements will be interesting to see what reaction the market gives when they get the inferred resource statement firmed up:
http://www.vizmap.com.au/NRM/Commodities/42327.htm
'These older drill holes indicated excellent sections of strata. These include several intersections have been located from two deep drill holes: Bonnie 1 Core 3 at 7,362 feet shows a core assaying at 59% Sodium Chloride (common salt) and 41% Potassium Chloride (potash). Drill hole Bore 1, Core 19 indicates a twelve foot intersection with assays ranging from 31% to 64% potash combined with sodium chloride. Should further drilling indicate, we plan to recover the potash deposits in situ, that is dissolving both the Sodium chloride and the potash and separating both from the liquor recovered, a very economical method of exploiting deposits at these depths.'
Credits to 'dave the dashound'.
Worth a look seems lots of cash available ,was looking for tax incentives for companies such as SXX has anyone found anything
http://www.areadevelopment.com/stateResources/northDakota/
Also epri plan for 2010 i wonder who this could involve
http://mydocs.epri.com/docs/Portfolio/PDF/2010_P094.pdf
Hi Dave
Very informative post.
I think we will see a substantial rise in the PPS before April when the two reports are due.
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Sirius Exploration Plc is a diversified mining and exploration holding company with salt and potash interests in North America, United Kingdom and Australia and initiatives in Compressed Air Energy Storage and Carbon Sequestration.
Current Projects are:
North America - North Dakota (ND) (Drilling has commenced) http://www.dakotasalts.com/
Dakota Salts LLC is a wholly owned subsidiary of Sirius Minerals Plc and is incorporated in Colorado, USA. Based in Denver, Dakota Salts holds mineral leases in excess of 13,000 acres in North Dakota, USA, allowing for the exploration and extraction of salt and potash and the creation of caverns for the storage of natural gas and other hydrocarbons or the storage of compressed air for electricity generation
EUROPE - UNITED KINGDOM - NORTH YOURSHIRE (NY) http://www.siriusminerals.com/projects/united-kingdom/north-yorkshire/
AUSTRALIA - QUEENSLAND (QLD) - ADAVALE BASIN http://www.siriusminerals.com/projects/australia/queensland/
AUSTRALIA - WESTERN AUSTRALIA (WA) - CANNING BASIN http://www.siriusminerals.com/projects/australia/western-australia/
Sirius owns exploration application permits covering some 1250 km2 of claims in the Kimberley region of Western Australia that overlie the Canning Basin. In total, the exploration application permits relate to five tenements that are situated over the Canning Basin – E04/1960, E04/1961, EO4/1962, E04/1963, E04/19664. These lie some 200 km south-east of Broome and are between 100 km and 150 km south of Derby.
Based on the wealth of historic data that exists as a result of previous oil and potash exploration in the area, these five properties are known to overlie the Mallowa Salt evaporate unit within the Canning Basin.
The Mallowa Salt is recognised as the largest halite accumulation in Australia, according to a report compiled by Rio Tinto in June 2009. Within the Sirius tenements, the Mallowa Salt is around 450 metres thick with the top at a depth of approximately 550 metres below the surface.
These tenements are also close to known coal and gas projects.
In addition, the Company has acquired two further exploration application licenses overlying the Canning Basin. The additional tenements are E04/2003 and E04/2005 and are located in the northwest area of the Willara sub basin of the Canning Basin and cover approximately 1000 square kilometres.
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Deputy Chairman Richard Poulden video: http://www.objectivecapitalconferences.com/ocic/rpoulden.html
Latest Announcement, News Releases and Total Voting Rights here: http://www.siriusminerals.com/news/
OTC Markets Real-Time Level 2 QUOTE Montage for SRUXY: http://www.otcmarkets.com/stock/SRUXY/quote#getQuote
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