Goldbug100 - Sirius Minerals (SXX.L) expansion
Announced that it had bought privately held York Potash Ltd for 25.1 million pounds ($39.82 million) to gain access to over 600 square kilometres of mineral rights, as demand for the key crop nutrient Potash heats up. Investors will remember that late last year there was a fierce defence by the Canandian Potash company against BHP´s attempted take over of it. It is not a cash take over of the private company Sirius ( SXX.L ) exchanging shares alloting 150 million shares to York shareholders, valuing the deal at a shade over 25.1 million pounds, based on its Friday close of 16.75 pence. The shares today finished up 1.32p to finish at 18.07p and we estimate that the shares could move higher this year and would not be suprised at the company expanding with more purchases using shares to take over the target company as they have with York Potash. Sirius started life off as a Copper Mining company with 2 mine...