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Sirius Resources raising cash on back of nickel, copper discovery at Fraser Range

Sirius Resources raising cash on back of nickel, copper discovery at Fraser Range

Sirius Resources (ASX: SIR) is taking advantage of the recent spiralling share price and investor interest with news of a capital raising. 

The company requested a trading halt from the ASX pending an announcement.

Sirius’ shares have soared nearly 1500% to its last traded price of A$0.90 since it made an announcement in late July of a potentially major new nickel-copper discovery at its 70% owned Fraser Range project in Western Australia.

The company sustained price momentum as buyers continue to outnumber sellers.

For those investors just starting to follow the company, Nova has yielded extensive sulphide mineralisation.
 
The Nova discovery is a new style of deposit in an entirely new province. A reverse circulation program is underway and diamond drilling is soon to commence.

Recently, Mark Creasy's Yandal Investments Pty Ltd indicated it intends to exercise 2 million $0.60 31st August 2014 options. This would raise $1.2 million for the company.

The halt will remain in place until the earlier of an announcement being made available to the market, or the opening of trade on Wednesday 15 August.


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