18 December 2009
Richard Poulden, the chairman of diversified mining group Sirius Exploration, today said the company was set to move forward in a “measured manner” following a first half of the year that was punctuated by acquisitions.
During the first half of the year to September 30, Sirius increased its holding in US potash and salt cavern business, Dakota Salts LLC, by 49% to 100% and acquired a 63.5% stake in Australian potash outfit, AusPotash Corporation. Since the end of the period, that stake has moved to 68.38%.
More recently, Sirius acquired Adavale Holdings, which holds exploration permits for land adjacent to the Queensland Potash properties, as well as Derby Salts in Western Australia and two Co2 energy storage technology companies in the US and Australia.
Mr Poulden said: “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.”
Sirius raised £2.8 million from institutional investors during the first six months and also boosted its exposure to US investors by launching a US ADR facility.
