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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (31054)1/12/2009 12:24:32 PM
From: LoneClone  Read Replies (1) of 194001
 
UPDATE 1-Sirius Exploration in talks to buy stake in US firm
Mon Jan 12, 2009 3:21am EST

reuters.com

* Says investment to be in the form of Sirius shares

* Says Not targeting oil fields in Nigeria (Adds details)

Jan 12 (Reuters) - Sirius Exploration Plc (SXX.L), an explorer and developer of mining projects, said on Monday it was in advanced talks to buy a significant stake in a U.S.-based mining company.

Sirius said investment in the unnamed U.S. firm would be in the form of Sirius Exploration shares.

Noting the recent rise in its shares, the Macedonia-focused explorer said it was not targeting "marginal oil fields in Nigeria" as part of its expansion plans.

At 0820 GMT, the company's shares, which were traded at 0.75 pence apiece on Dec. 18, were mostly unchanged at their Friday's close of 1.25 pence. (Reporting by Usman Merchant in Bangalore; Editing by Gopakumar Warrier)
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